AstraZeneca’s (AZN) third quarter earnings came in at $1.68 per American Depositary Shares (ADS), well above the Zacks Consensus Estimate of $1.36 and $1.32 reported in the year-ago period. Revenues increased 10% at constant exchange rates (CER) to $8.2 billion compared to the same period last year. The primary reasons for the increase in revenues were strong US sales of Toprol-XL benefiting from generic withdrawal, US sales of its H1N1 vaccine and robust growth in emerging markets. AstraZeneca recorded strong sales across all geographies. Sales in North America, Emerging Markets and Established Markets increased (at CER) by 13%, 15% and 4%, respectively. The company expects double-digit revenue growth in Emerging Markets for the full year. Among the product categories, apart from gastrointestinal and oncology, which recorded sales decline of 1% and 10% respectively, all other segments increased their revenues. AstraZeneca recorded more than 26% of ...

Theravance (THRX) announced its third quarter results after the closing bell yesterday. The company’s loss per share came in at 35 cents, a penny wider than the Zacks Consensus Estimate. It had earned 34 cents per share in the year-ago period. Revenues were $5.5 million during the quarter, compared with $6 million in prior-year quarter. Theravance receives revenues in the form of milestone payments from its collaborating partners including GlaxoSmithKline (GSK) and Astellas Pharma.   Operating expenses remained unchanged at $26.6 million. While R&D expenses declined 2.6% due to lower costs related to the regulatory process for telavancin (Vibativ), G&A expenses increased 8.7% due to higher employee related costs.

The reported quarter had been quite significant for Theravance with the company receiving US Food and Drug Administration (FDA) approval for its long awaited product Vibativ for the treatment of complicated skin and skin structure infections (cSSSI) caused by

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Recently, Theravance (THRX) received a milestone payment of $20 million from its partner Astellas Pharma. The payment follows the U.S. Food and Drug Administration (FDA) approval of Vibativ (telavancin) and for supplying Astellas Pharma with the launch inventory for the first commercial sale of the drug in the U.S. Vibativ is expected to hit the U.S. market by year-end.

Earlier, in September, Theravance received FDA approval to market Vibativ for the treatment of complicated skin and skin structure infections (cSSSI) caused by Gram-positive bacteria. While the drug will be marketed and sold by Astellas, Theravance will receive royalties on global sales. In the U.S. , the company will help Astellas in marketing the drug for the first three years post approval.

Apart from cSSSI, Vibativ is also being studied for hospital-acquired pneumonia (HAP). The company has already submitted a New Drug Application (NDA) for this indication and has been assigned a

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Today, Novartis (NVS) acquired exclusive worldwide rights to PTK 0796, a broad spectrum antibiotic from a privately held company, Paratek Pharmaceuticals. The drug is meant for the treatment of infections caused by drug-resistant bacteria such as methicillin-resistant Staphylococcus aureus (MRSA) and multi-drug resistant Streptococcus pneumoniae (MDRSP). PTK 0796, being a broad spectrum antibiotic, could be used as a single agent against a range of bacteria unlike other antibiotics, which may have to be used in combination. Although we are yet to know the exact financial terms of the deal, Novartis will be making an upfront payment to Paratek in addition to future milestone payments and royalties. Both the companies will share the costs and responsibilities related to the drug’s development. A phase III trial for the drug is being conducted for the treatment of complicated skin and skin structure infections (cSSSI). Clinical studies conducted on more ...

For Immediate Release

Chicago, IL – September 16, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Genzyme Corp. (GENZ), Salix Pharmaceuticals (SLXP), Walt Disney Co. (DIS), Sunoco Logistics Partners LP (SXL) and Theravance (THRX).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Tuesday’s Analyst Blog:

Genzyme's MS Drug Shows Promise

On Friday, Genzyme Corp. (GENZ) presented encouraging four-year follow-up phase II data on alemtuzumab, which is being developed for the treatment of multiple sclerosis (MS). Results showed durable reductions in relapse rate and sustained accumulation of disability even three years

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We are pleased to hear that Forest Laboratories (FRX) presented encouraging data from its phase III trial of ceftaroline for the treatment of community-acquired pneumonia (CAP) in hospitalized patients. The company presented new data from two multicenter studies – FOCUS 1 and FOCUS 2 – at the 49th Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC) in San Francisco. In addition to CAP, ceftaroline is also being studied for complicated skin and skin structure infections (cSSSI) caused by gram-positive bacteria.

The randomized, double-blind trial compared ceftaroline with ceftriaxone in hospitalized adult patients with moderate to severe CAP. Following both the trials, it was found that patients treated with ceftaroline demonstrated a better cure rate (84.3%) compared to those treated with ceftriaxone (77.7%). In addition, the overall microbiological response rate in the microbiologically evaluable (ME) population was 87% for ceftaroline and 81% for ceftriaxone, while in the microbiological modified intent-to-treat (MITT)

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THRX, Theravance, Inc.

PWRM, Power 3 Medical Products Inc, PWRM.OB

SPNG, SpongeTech Delivery Systems Inc, SPNG.OB

DrStockPick Watch List!

 

DrStockPick.com Watch List! for Monday September 14, 2009

 

My Picks for Monday September 14, 2009 are:

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SPNG, SpongeTech Delivery Systems Inc, SPNG.OB

SPNG is a company which designs, produces and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology.

SPNG plans to apply for a NASDAQ listing. Its Board of Directors has unanimously approved a reverse split of SpongeTech®’s issued and outstanding capital stock at a 1-for-100 split ratio. The reverse stock split demonstrates its commitment to

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Yesterday, The Medicines Company (MDCO) announced that it has withdrawn its European marketing authorization application (MAA) for the 200mg 3-7 day daily dose therapy of oritavancin. The company is developing oritavancin, a novel, semi-synthetic lipoglycopeptide antibiotic candidate for the treatment of complicated skin and skin structure infections (cSSSI) caused by gram positive pathogens. Currently available therapies include Cubist Pharma’s (CBST) Cubicin. Oritavancin became a part of The Medicine Company’s pipeline following the February 2009 acquisition of Targanta Therapeutics. Oritavancin, if developed successfully, could be used in the hospital setting, most likely in the critical care setting in the intensive care unit (ICU), emergency department or surgical suite. It is primarily designed for patients with methicillin-resistant staphylococcus aureus (MRSA) or vancomycin resistant infections, which represents a large and underserved market. The withdrawal of the European marketing application did not come as a major surprise, as ...

DrStockPick.com Stock Report!

Wednesday August 12, 2009

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Cisco (NASDAQ: CSCO) and AIESEC, the world’s largest student-run organization, have launched an innovative program to provide Malaysian students with the opportunity to expand their skills and gain valuable international work experience. The initiative is in line with the Malaysian government’s call for more public-private sector collaboration to support the education and development of a highly skilled, technology-savvy workforce that can compete in the global arena.

The Bank of New York Mellon Corporation (NYSE: BK) announced it has agreed to acquire Insight Investment Management Limited (”Insight Investment”) from Lloyds Banking Group plc for 235 million pounds Sterling. Based in London, Insight Investment specialises in LDI (Liability

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After the market close yesterday, South San Francisco based company Theravance Inc. (THRX) announced second-quarter results. The company reported lower net loss of $21.7 million or $0.35 per share as against $27.0 million or $0.44 per share in the year ago quarter.  Theravance currently does not have any FDA approved product and derives its revenue in the form of upfront and milestone payments from its collaborations. The company reported revenue of $5.5 million, flat from the year ago period. Revenue includes $2.7 million received from collaboration partner GlaxoSmithKline (GSK). During the quarter, Theravance received a milestone payment of $10 million in relation to the NDA filing for telavancin meant for the treatment of hospital acquired pneumonia (HAP). Under the company’s revenue recognition policy of the company, this payment will be amortized over the relevant performance period.  Though revenue in the reported quarter remained unchanged from ...