AstraZeneca up on Q3 beat

AstraZeneca (AZN) Q3 results: Revenues: $6,406M (+20.0%); Product Sales: $6,132M (+16.4%); Collaboration Revenue: $274M.

Key product sales: Tagrisso: $891M (+76%); Lynparza: $327M (+94%); Symbicort: $613M (-1%); Nexium: $374M (-11%); Brilinta: $416M (+24%); Farxiga: $398M (+12%); Pulmicort: $337M (+28%); Crestor: $327M (-4%); Imfinzi: $412M; Faslodex: $205M (-20%).

Net Income: $280M (-31.0%); EPS: $0.23 (-32.4%); non-GAAP EPS: $0.99; CF Ops: $1,594M.

2019 Guidance: Product Sales: An increase by by a low to mid-teens percentage from low double-digit percentage; Core EPS: $3.50 – 3.70 (unch).

https://seekingalpha.com/news/3508918-astrazeneca-4-percent-premarket-q3-beat

Laboratory Corporation of America EPS beats by $0.05, beats on revenue

Laboratory Corporation of America (NYSE:LH): Q3 Non-GAAP EPS of $2.90 beats by $0.05; GAAP EPS of $2.25 misses by $0.05.

Revenue of $2.93B (+3.5% Y/Y) beats by $20M.

Press Release

https://seekingalpha.com/news/3508956-laboratory-corporation-america-eps-beats-0_05-beats-revenue

Integra LifeSciences beats Q3 consensus

Integra LifeSciences Holdings (IART) Q3 results: Revenues: $379.1M (+3.6%); Codman Specialty Surgical: $253M (+5.9%); Orthopedics and Tissue Technologies: $126.1M (-0.6%).

Net loss: ($27.6M); loss/share: ($0.32); non-GAAP Net Income: $58.7M (+16.0%); non-GAAP EPS: $0.68 (+15.3%); CF Ops: $142.2M (-9.4%).

2019 Guidance: Revenue: $1.517B – 1.522B from $1.515B – 1.525B; GAAP Net Income: $53M – 58M from $127M – 133M; EPS: $0.61 – 0.66 from $1.46 – 1.53; non-GAAP Net Income: $235M – 240M (unch); non-GAAP EPS: $2.70 – 2.75 (unch).

https://seekingalpha.com/news/3508978-integra-lifesciences-beats-q3-consensus

Cambrex reports preliminary 3Q 2019

Cambrex (NYSE:CBM): Q3 Revenue of $148.56M (+42.0% Y/Y) misses by $7.79M.

Press Release

https://seekingalpha.com/news/3508996-cambrex-reports-preliminary-3q-2019

FDA OKs expanded use of Allergan’s Botox

The FDA approves Allergan’s (NYSE:AGN) supplemental marketing application for the use of BOTOX (onabotulinumtoxinA) in pediatric patients ages 2-17 years with lower limb spasticity (muscle stiffness), excluding spasticity caused by cerebral palsy.

The approval is the product’s 11th in the U.S.

https://seekingalpha.com/news/3509026-fda-oks-expanded-use-allergans-botox

Danaher beats Q3 consensus

Danaher (DHR) Q3 results: Revenues: $5,037.3M (+3.8%).

Net Income: $648.4M (-2.3%); EPS: $0.89 (-4.3%); non-GAAP EPS: $1.16 (+5.5%).

2019 guidance: GAAP EPS: $3.38 – 3.41 from $3.38 – 3.43; non-GAAP EPS: $4.74 – 4.77 from $4.75 – 4.80.

Q4 guidance: GAAP EPS: $1.06 – 1.09; non-GAAP EPS: $1.32 – 1.35.

Shares are down 2% premarket.

Previously: Danaher Corporation EPS beats by $0.01, beats on revenue (Oct. 24)

https://seekingalpha.com/news/3509028-danaher-beats-q3-consensus

Baxter reports Q3 results; shares down on internal FX probe

Baxter (BAX) Q3 results: Revenues: $2,851M; Renal care: $918M; Medication delivery: $701M; Pharmaceuticals: $527M; Clinical nutrition: $219M; Advanced surgery: $216M; Acute therapies: $130M; Other: $140M.

Operating income: $503M (+16.4%); non-GAAP operating income: $555M.

Q4 Guidance: Sales growth of 3-4% on a reported basis and ~5% on both a constant currency and operational basis; Operating margin: 15.2% – 15.9% on a reported basis and 18.5% – 19% on non-GAAP basis.

The company discloses that it has launched an internal investigation, assisted by external counsel and consultants, into certain intra-Company transactions aimed at foreign exchange gains/losses. The historical exchange rate convention was not GAAP-compliant, enabling the transactions to be undertaken after the exchange rates were known. As a result, previously reported net foreign exchange gains for the years 2014 – 2018 and H1 2019 (range of $8M – 113M) are misstated and should no longer be relied upon.

The company does not expect to file its Q3 10-Q on a timely basis.

Shares are down 6% premarket.

https://seekingalpha.com/news/3509062-baxter-reports-q3-operating-results-shares-6-percent-premarket-internal-investigation-fx