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News Breaks
July 17, 2014
08:56 EDTBAXBaxter: Guidance contemplates possible headwinds related to cyclo competition
Says positive momentum continues to build, off to a strong start for the year. Says well positioned for sustained performance. Says global demand for Advate remains very strong. Says demand for Feiba remains robust. Says to date, has not experienced any new competition for cyclophosphamide. Says wide guidance range contemplates potential headwinds related to cyclophosphamide competition, foreign currency. Says guidance currently assumes FY cyclo benefit 20c per share. Sees FY interest expense $160M. Sees FY tax rate 21.5%. Says U.S. growth may moderate, but sees international growth accelerating on sequential basis in Q3, Q4. Sees FY CapEx approx. $1.8B. Sees FY Medical Products sales up 1%-2% excluding GAMBRO. Sees competition for cyclo later this year. Sees Specialty Pharmaceuticals sales growth in the 3%-5% range. Sees BioTherapeutics sales up 4%, BioSurgery/Vaccines sales growth in the low single digits. Comments made on the Q2 earnings conference call.
News For BAX From The Last 14 Days
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September 29, 2014
06:36 EDTBAXKamada announces second extension of strategic agreement with Baxter
Kamada (KMDA) announced the second extension to supply Glassia to Baxter (BAX) in its strategic agreement with the biopharmaceutical business of Baxter. Through the extended agreement, Kamada secured $26M in additional revenues of Glassia, the company’s proprietary, ready-to-infuse liquid alpha-1 antitrypsin treatment that is indicated as a chronic augmentation and maintenance therapy in adults with clinically evident emphysema due to severe congenital AAT deficiency, through 2017. As a result, Kamada expects that total revenue generated through this agreement from October 2010 through end of 2017 will increase to a minimum of $191M compared with a minimum of $110M contained in the original agreement executed in 2010 and a minimum of $165M contained in the May 2013 extension. In addition, the company reports that the supply of Glassia to Baxter has been extended through 2017 and that the transition to royalty payments for Glassia produced by Baxter is not expected to begin before 2018. Until that time, Kamada will continue to produce Glassia for distribution by Baxter. Kamada is confident in its ability to support the increased demand from Baxter throughout the term of the amended agreement.
September 26, 2014
05:40 EDTBAXPharmaEngine, Merrimack Pharmaceuticals amend MM-398 license agreement
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September 24, 2014
09:05 EDTBAXOn The Fly: Pre-market Movers
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07:39 EDTBAXMerrimack to hold a conference call
Conference call to discuss the exclusive license and collaboration agreement with Baxter International for the development and commercialization of MM-398 also known as "nal-IRI" will be held on September 24 at 8:30 am. Webcast Link
07:06 EDTBAXBaxter, Merrimack enter exclusive ex-U.S. licensing deal for MM-398
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