Product Launches, Acquisitions, Closed Offerings, Divestitures, and Financial Results - Analyst Notes on Dr. Reddy's, ICON, Endocyte, BioScrip, and DepoMed
Editor Note: For more information about this release, please scroll to bottom.
NEW YORK, April 7, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Dr. Reddy's Laboratories Ltd. (NYSE: RDY), ICON plc (NASDAQ: ICLR), Endocyte, Inc. (NASDAQ: ECYT), BioScrip Inc. (NASDAQ: BIOS), and DepoMed Inc. (NASDAQ: DEPO). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.AnalystsReview.com/register
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Dr. Reddy's Laboratories Ltd. Analyst Notes
On March 27, 2014, Dr. Reddy's Laboratories Ltd. (Dr. Reddy's) announced the launch of Amlodipine Besylate and Atorvastatin Calcium Tablets, a therapeutic equivalent generic version of CADUET tablets, in the US market on March 17, 2014, following its U.S. FDA approval. Dr. Reddy's Amlodipine Besylate and Atorvastatin Calcium Tablets are available in bottle counts of 30 and 90. According to IMS Health, the CADUET® tablets brand and generic had U.S. sales of approximately $163 Million MAT for the most recent twelve months ended January 2014. The full analyst notes on Dr. Reddy's Laboratories Ltd. are available to download free of charge at:
http://www.AnalystsReview.com/04072014/RDY/report.pdf
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ICON plc Analyst Notes
On March 31, 2014, ICON plc, (ICON) announced that it has agreed to acquire Aptiv Solutions for $143.5 million. According to the Company, Aptiv Solutions is a recognized leader in the design and execution of adaptive clinical trials for pharmaceutical and biotech customers. Commenting on the acquisition, Dr. Nuala Murphy, President, ICON Clinical Research Services, said, "ICON's market-leading innovation is helping our customers to reduce the time and cost of drug development. We are achieving this through the combination of our industry expertise and enabling technologies such as ICONIK and Firecrest. Aptiv Solutions' adaptive trial capabilities will further differentiate and enhance our services to help our customers identify the most promising drug candidates earlier. Their presence in Japan will also broaden our existing capabilities in this market." The full analyst notes on ICON plc are available to download free of charge at:
http://www.AnalystsReview.com/04072014/ICLR/report.pdf
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Endocyte, Inc. Analyst Notes
On April 2, 2014, Endocyte, Inc. (Endocyte) announced the closing of its underwritten public offering of approximately 5.2 million shares of its common stock at a price to the public of $21.00 per share. This includes the full exercise by the underwriters of their option to purchase c. 0.7 million additional shares. The Company informed that it has received net proceeds of approximately $101.8 million from the offering. The full analyst notes on Endocyte, Inc. are available to download free of charge at:
http://www.AnalystsReview.com/04072014/ECYT/report.pdf
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BioScrip Inc. Analyst Notes
On April 1, 2014, BioScrip, Inc. (BioScrip) announced that it has completed its previously announced sale of substantially all of its Home Health Business, the Deaconess HomeCare to LHC Group, Inc. in a deal valued at approximately $60 million. "With the completion of the Home Health transaction, we now have additional financial flexibility to continue building on BioScrip's solid foundation in home infusion services," said Rick Smith, President and CEO of BioScrip. "We continue to position BioScrip as a leader in the home infusion industry. We look forward to optimizing the value of our assets while maintaining our reputation for clinical excellence." BioScrip intends to use the net proceeds to pay down a part of its outstanding debt. The full analyst notes on BioScrip Inc. are available to download free of charge at:
http://www.AnalystsReview.com/04072014/BIOS/report.pdf
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DepoMed Inc. Analyst Notes
On March 12, 2014, Depomed, Inc. (Depomed) reported its Q4 2013 and full-year 2013 financial results. For the quarter, revenues came in at $40.6 million, compared to $26.6 million in Q4 2012. Net income totaled $41.8 million, or $0.72 per share, compared with a net loss of $3.7 million, or $0.07 per share, in Q4 2012. For full year 2013, total revenues were $134.2 million compared to $90.8 million in 2012. Net income stood at $43.3 million, or $0.75 per share, compared to a net loss of $29.8 million, or $0.53 per share, in 2012. Net income for the quarter and full year 2013 included a $39 million income tax benefit related to the reversal of the valuation allowance on its deferred tax assets The Company anticipates full-year 2014 revenue to range from $200 million to $215 million and GAAP EPS to range between $0.21 and $0.36 per share. The full analyst notes on DepoMed Inc. are available to download free of charge at:
http://www.AnalystsReview.com/04072014/DEPO/report.pdf
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