Teva Pharmaceutical Industries Ltd. (TEVA) reported earnings of 89 cents in the third quarter of 2009, up 16% from the year-ago period and a cent above the Zacks Consensus Estimate. Strong sales of Copaxone and in the respiratory business helped drive earnings in the reported quarter. Net sales increased 25% to $3.55 billion, with the Barr acquisition contributing to sales across different geographical segments. The strengthening U.S. dollar adversely impacted net sales by $160 million or 6%. Revenue performance across key business segments was mixed. While the Pharmaceuticals Sales segment posted growth of 27% with revenues coming in at $3.4 billion, the active pharmaceutical ingredients (API) segment reported an 8% decline in growth with sales coming in at $136 million. Pharmaceutical segment sales were driven by strong performances in the North American, European and International segments. The launch of generic versions of Ortho Tri-Cyclen Lo ...

PetMed Express, Inc. (PETS), the America ’s largest Pet Pharmacy, recently reported second-quarter 2010 results. The quarterly earnings of 28 cents a share came in line with the Zacks Consensus Estimate but rose 12% year-on-year from 25 cents posted in the prior-year quarter.  Net sales climbed 5% to $62.4 million during the quarter. Reorder sales jumped 11% to $45.8 million, whereas new order sales fell 8% to $16.7 million, as the new customer additions fell 3% to 233,000 due to lower advertising spending (down 10% to $7.8 million). However, the cost to acquire a new customer fell 8% to $33 from $36 in the year-ago quarter.  PetMed also notified that the average order size for the quarter fell to $78 from $81 in the prior-year quarter due to customers purchasing smaller quantities of products.  Gross profit increased 4% driven by increase in net sales, partially ...

American Medical Systems (AMMD) recently announced that it has agreed to sell its female sterilization assets and technology to Conceptus Inc. (CPTS).   Under the $23.6 million cash deal, Conceptus acquired all patents and intellectual property associated with the Ovion business, which was acquired by American Medical Systems in July 2005. American Medical Systems acquired Ovion Inc. to further broaden its gynecology franchise. Ovion, a pre-commercialization company, developed an office-based technology for the delivery of a permanent birth control solution for women.   Conceptus intends to make use of the Ovion technology to develop future versions of its Essure permanent female contraceptive. Essure, a non-incisional permanent birth control method, received approval from the U.S. Food and Drug Administration (FDA) in 2002.   Under the terms of the present agreement, Conceptus will not be required to make any royalty payments to American Medical Systems. Furthermore, the transaction releases ...

Through Wednesdays’ close, the S&P Retail Index (RLX) is sitting on gains of about 26% year-to-date, significantly above the roughly 8% gain for the S&P 500. The strong relative performance of retailing stocks thus far has been due to low expectations, "less bad" sales declines and cost cutting efforts limiting the recession’s bottom-line impact. This combination has allowed retailers to post strong earnings thus far.

Going forward, however, retailers are going to have a harder time beating estimates because expectations have climbed higher, while "less bad" results and cost cuts are already reflected in estimates. Moreover, for the retailers to deliver better-than-expected results in the months ahead, the upside will have to come from an improvement in sales growth. This is unlikely because there are simply too many headwinds for the consumer to overcome. These headwinds include wealth destruction from the housing and equity markets and higher ...

Allstate Corporation’s (ALL) second quarter operating earnings of 55 cents per share came in substantially short of the Zacks Consensus Estimate, compared to $1.24 in the year-ago quarter. Results for the quarter were adversely impacted primarily by surging catastrophe losses and lower investment income, though prudent capital management and strong liquidity were impressive.   Despite a 17.2% year-over-year increase in catastrophe losses, GAAP net income for the quarter increased to $389 million or 72 cents per share, compared to net income of $25 million or 5 cents per share in the prior-year quarter. Operating income excludes realized net gains and losses from the sale of investments as well as after-tax gains and losses on the sale or disposal of operations.    Property-Liability net written premiums were $6.6 million, down 2.8% from $6.8 million in the prior-year quarter. The year-over-year decrease was driven primarily by significant catastrophe costs ...

This morning, Depomed (DEPO) announced it has signed a non-exclusive licensing agreement with Merck (MRK), whereby Merck will have access to the company's technology for extended release metformin. We expect that Merck is seeking to co-formulate Depomed's metformin XR candidate with its DPP-IV agent, Januvia (sitagliptin). Merck already sells a fixed-dose combination sitagliptin-metformin as Janumet. However, Janumet must be taken twice daily because the formulation utilizes an immediate release metformin. Despite the dosing requirement, Janumet posted sales of $155 million in the second quarter 2009. We believe that Merck will look to quickly formulate Januvia with Depomed's metformin-XR product, thus allowing for once daily dosing with an improved side effect profile and tolerability over Janumet. Merck has guided total Januvia/Janumet sales in 2009 to between $2.4 and $2.7 billion. In return, Merck paid Depomed an upfront payment of $10 million in cash. Depomed ...

We are initiating coverage of DepoMed (DEPO) with a Buy rating and $5 price target. We are excited about the potential for Serada, and enhanced formulation of gabapentin that utilizes the company's proprietary AcuForm technology, for the treatment of hot flashes / vasomotor symptoms (VMS) in menopausal women.Serada is currently in two phase III trials with data expected in the fourth quarter of 2009. Gabapentin is a molecule that has been well studied in hot flashes / VMS, and meta analysis shows it is the superior non-HRT efficacy option out there. Unfortunately, the dosing requirements and side-effect profile of the drug dramatically limits prescriptions in this market.With Serada, DepoMed is a significant opportunity in our view. We see the drug as a potential $500 million or more opportunity.DepoMed is also developing its AcuForm-enhanced gabapentin molecule for the treatment of neuropathic ...

Through the middle of June, the S&P Retail Index (RLX) is sitting on gains of about 13% year-to-date. The strong relative performance of retailing stocks thus far has been due to low expectations coming into 2009, "less bad" sales declines and cost cutting efforts. This combination allowed retailers to easily beat first quarter earnings estimates.Going forward, however, retailers are going to have a harder time beating estimates because expectations have climbed higher, while "less bad" results and cost cuts are already reflected in analyst estimates. Moreover, for the retailers to deliver better-than-expected results in the months ahead, the upside will have to come from an improvement in sales growth. This is unlikely because there are simply too many headwinds for the consumer to overcome.These headwinds include wealth destruction from the housing and equity markets and higher unemployment, which has reduced discretionary income. Additionally, financial institutions ...

Green Planet Bioengineering Co. Ltd. operates through its Chinese subsidiary to serve as a high-tech bioengineering enterprise. The company researches, develops, produces and markets extracts from tobacco leaves residue for use in health and beauty products.

As of yesterday, the Miami-based company is a publicly traded company on the Over the Counter Bulletin Board, reflecting the company’s ambition to move forward with its business strategy and take advantage of the U.S. marketplace.

“We are very excited to start our entry into the U.S. public market. We have embarked in a dynamic journey and are now well positioned to take Green Planet to the next level in its development,” chairman and CEO of Green Planet Min Zhao stated in the press release. “We are focused on the execution of our business plan which calls for organic as well as acquisition driven growth.”

The company also focuses its R&D efforts to create

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ZAGG Inc. (OTCBB: ZAGG), a leading producer of mobile electronics accessories, announces their popular invisibleSHIELD is now available in all London Drugs stores across Canada. London Drugs is a privately held retail chain with nearly 70 locations, and carries a wide range of electronics, health products, and consumer goods.

ZAGG’s invisibleSHIELD offers consumers an alternative to bulky cases with thousands of precision-cut designs for a multitude of gadgets, including cell phones, digital cameras and laptops. London Drugs carries invisibleSHIELD designs for popular Apple products, including the current line of MacBook laptop computers and the iPhone. They recently began offering an invisibleSHIELD for the BlackBerry Curve, as well, and will be adding new designs for popular phones in the coming months.

“London Drugs presents a fantastic opportunity for us to find new customers in western Canada, and hopefully we can continue to grow with them as they expand eastward,” said Derek

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