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News Breaks
May 14, 2014
07:32 EDTMYL, LLYMylan launches generic Zyprexa Zydis tabletsEli Lilly
Mylan (MYL) has launched Olanzapine Orally Disintegrating Tablets 5 mg, 10 mg, 15 mg and 20 mg, the generic version of Eli Lilly's (LLY) Zyprexa Zydis Tablets. Mylan received final approval from the FDA for its Abbreviated New Drug Application for this product, which is indicated for the treatment of schizophrenia or the acute treatment of manic or mixed episodes associated with bipolar I disorder and maintenance treatment of bipolar I disorder. Olanzapine ODT, 5 mg, 10 mg, 15 mg and 20 mg, had U.S. sales of approximately $120.8M for the 12 months ending March 31, 2014.
News For MYL;LLY From The Last 14 Days
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October 27, 2014
12:44 EDTMYLStocks with call strike movement; CELG MYL
Celgene (CELG) April 115 call option implied volatility increased 4% to 30, Mylan (MYL) April 60 call option implied volatility increased 3% to 29 according to IVolatility.
06:28 EDTLLYVirbac acquires veterinary assets from Eli Lilly in U.S.
Virbac announces that it has entered into an agreement with Eli Lilly (LLY) to acquire "major" U.S. veterinary products currently marketed by Novartis (NVS) Animal Health. Eli Lilly has agreed to divest these U.S. assets in connection with the U.S. Federal Trade Commissionís review of Eli Lillyís pending acquisition of Novartis Animal Health worldwide. Under the terms of this agreement, Virbac would acquire a combination of titles and rights for the U.S. on trademarks, marketing authorizations, patents, know-how, customer lists and other assets, related to two parasiticides for dogs including Sentinel Flavor Tabs and Sentinel Spectrum, currently marketed in the U.S. by Novartis Animal Health. In the U.S., Sentinel Flavor tabs and Sentinel Spectrum are expected to reach total revenues of approximately $90M-$100M in 2014. Adding these brands and commercial franchise to the current Virbac portfolio of products offered to veterinary clinics and pet owners in the U.S. will strengthen Virbacís presence and penetration in the U.S. companion animal veterinary market and leverage its growth potential. The completion of this transaction is subject to approval by the Federal Trade Commission, which Virbac expects may be received in the near future. It is also conditioned on the closing of the acquisition of Novartis Animal Health by Eli Lilly and should occur shortly thereafter.
October 23, 2014
12:20 EDTLLYOn The Fly: Midday Wrap
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08:15 EDTMYLPfizer wins SUTENT patent case In Delaware District Court
Pfizer (PFE) announced today that the U.S. District Court for the District of Delaware upheld its basic patent and the L-malate salt patent covering SUTENT capsules. This decision, which is subject to appeal, affirms Pfizerís right to exclusively provide sunitinib malate as SUTENT to patients through the term of the patent, which expires in 2021. Pfizer filed suit in June 2010 after Mylan (MYL) applied to the U.S. Food and Drug Administration to market a generic version of SUTENT prior to the expiration of the patents covering sunitinib malate and its uses. After a four-day trial, the Court agreed that Mylan infringed the valid patents covering SUTENT.
07:25 EDTLLYEli Lilly CEO says economic outlook 'won't affect Eli Lilly negatively'
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06:35 EDTLLYEli Lilly backs FY14 EPS view of $2.72-$2.80, consensus $2.75
Sees FY14 revenue $19.4B-$19.8B, consensus $19.77B. Due to the strengthening of the U.S. Dollar, as well as competitive pressures and market dynamics in the U.S. animal health business, the company now anticipates 2014 revenue between $19.4B-$19.8B. Patent expirations have led to a rapid and severe decline in U.S. Cymbalta and U.S. Evista sales. These revenue declines are expected to be partially offset by growth from a portfolio of other products including Humalog, Humulin, Trajenta, Cialis, Forteo and Alimta, as well as the animal health business and new product launches. In addition, strong revenue growth is expected in China, while a weaker Japanese yen will dampen revenue growth in Japan. The company now anticipates gross margin as a percent of revenue will be approximately 74.5% in 2014 driven by recent strengthening of the U.S. Dollar versus the Euro. Gross margin in 2014 is now also expected to benefit from a decision to delay until 2015 the shutdown at one of the company's bulk insulin plants to implement production changes. Total operating expenses in 2014 are still expected to decrease substantially compared to 2013. On a reported basis marketing, selling and administrative expenses are now expected in the range of $6.4B-$6.6B, which includes the Branded Prescription Drug Fee. On a non-GAAP basis, marketing, selling and administrative expenses are now expected to be in the range of $6.3B-$6.5B. Research and development expenses are now expected to be in the range of $4.6B-$4.8B. Other income is now expected to be in the range of $200M-$250M of income.
06:32 EDTLLYEli Lilly reports Q3 EPS 66c, consensus 67c
Reports Q3 revenue $4.88B, consensus $4.83B.
06:22 EDTMYLMylan, Abbott enter into amendment, still see deal closing in 1Q15
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October 22, 2014
17:48 EDTLLYCANDA NK-2 files motion to dismiss patent infringement suit
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16:23 EDTLLYEli Lilly expands collaboration with Zymeworks by up to $375M
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15:37 EDTLLYNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 71c; Union Pacific (UNP), consensus $1.52; 3M (MMM), consensus $1.96; AbbVie (ABBV), consensus 77c; Celgene (CELG), consensus 95c; Eli Lilly (LLY), consensus 67c; Occidental Petroleum (OXY), consensus $1.57; Caterpillar (CAT), consensus $1.36; Alexion Pharmaceuticals (ALXN), consensus $1.16; Precision Castparts (PCP), consensus $3.32; Raytheon (RTN), consensus $1.60; American Electric Power (AEP), consensus $1.02; Southwest Airlines (LUV), consensus 53c; Lorillard (LO), consensus 90c; T. Rowe Price (TROW), consensus $1.15; Mead Johnson (MJN), consensus 91c; Zimmer Holdings (ZMH), consensus $1.30; Nucor (NUE), consensus 73c; Nielsen (NLSN), consensus 65c; Prologis (PLD), consensus 46c; Sigma-Aldrich (SIAL), consensus $1.06; Under Armour (UA), consensus 40c; EQT (EQT), consensus 56c; Dr Pepper Snapple (DPS), consensus 88c; Cameron International (CAM), consensus $1.10; Coca-Cola Enterprises (CCE), consensus 89c; Quest Diagnostics (DGX), consensus $1.08; CMS Energy (CMS), consensus 41c; Airgas (ARG), consensus $1.29; PulteGroup (PHM), consensus 36c; Diamond Offshore (DO), consensus 79c; Bemis (BMS), consensus 67c.
13:49 EDTLLYEarnings Preview: Lilly looks to rebound from recent patent expirations
Eli Lilly and Company (LLY) is scheduled to report third quarter earnings before the market open on Thursday, October 23 with a conference call scheduled for 9:00 am ET. Lilly is a global pharmaceutical manufacturer that also has an animal health business segment. EXPECTATIONS: Analysts are looking for earnings per share of 67c on revenue of $4.83B, according to First Call. The consensus range for EPS is 60c-77c on revenue of $4.75B-$4.92B. LAST QUARTER: Eli Lilly reported second quarter EPS of 68c, which beat consensus estimates, on revenue of $4.94B against estimates of $4.9B. Lilly reaffirmed its FY14 EPS and revenue view at the time. The company said it sees FY14 EPS of $2.72-$2.80 on revenue of $19.4B-$20.0B, against consensus estimates of $2.78 and $19.93B respectively. Lilly's CEO John Lechleiter commented on the quarter, "Lilly's second-quarter results reflect a substantial decline in revenue and earnings resulting from recent patent expirations. At the same time, new product approvals and impending launches give us great confidence that Lilly is poised for growth in the years ahead. We have stayed the course with our innovation-based strategy, replenishing and advancing our pipeline. We remain firm in our commitment to sustain and accelerate a flow of important new medicines that make life better for people around the world." STREET RESEARCH: In late August, Deutsche Bank initiated coverage of the name with a Buy rating and a $71 price target. PRICE ACTION: Lilly shares are relatively flat since the company's last earnings report on July 24, and they are trading up fractionally to $64.95 in midday trading ahead of tomorrow's earnings release.
11:59 EDTMYLStocks with call strike movement; MYL AMZN
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09:16 EDTMYLAbbott sees Q4 reported sales growth in high single digits
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07:35 EDTLLYCardiometabolic Health Congress to hold annual meeting
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October 21, 2014
08:32 EDTLLYFDA accepted NDA for empagliflozin plus
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07:15 EDTLLYFDA to hold workshop on breast cancer drug development
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October 20, 2014
08:04 EDTMYLGerman fund pressured to sell Mylan stake over drug used in executions, FT says
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07:20 EDTMYLInternational Continence Society to hold annual meeting
ICS Annual Meeting 2014 is being held in Rio de Janeiro, Brazil on October 20-24.
October 17, 2014
10:51 EDTLLYOptions with increasing implied volatility
Options with increasing implied volatility: COV DISH HLT QEP GREK BKW BYI LLY DTV TIBX
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