Bernstein is positive on the stock with a Buy rating. The target price is still set at EUR 37.50.
https://www.marketscreener.com/FRESENIUS-SE-CO-KGAA-436083/news/FRESENIUS-SE-Receives-a-Buy-rating-from-Bernstein-30550026/
Wednesday, May 6, 2020
Fresenius Medical Care: 1Q net income beat on pandemic demand
Healthcare group Fresenius
beat first-quarter net income expectations on Wednesday, citing a U.S.
and European spike in demand for drugs and devices for COVID-19 patients
and government help with costs incurred by health providers.
Healthcare companies worldwide have benefited from subsidies and increased demand as a result of the coronavirus crisis, but they have also faced new costs, including protective gear.
Fresenius’ first-quarter net income was 465 million euros (406.10 million pounds), above analysts’ average forecast of 421.8 million euros, a Refinitiv poll found.
“It is, however, too early to say with any certainty what impact COVID-19 will have on the company’s full business year,” Chief Executive Stephan Sturm said in a statement.
On April 7, Fresenius’ infusion drug unit Kabi said it was trying to meet demand by focusing on products used in COVID-19 patients, such as sedatives and painkillers.
Increased demand should last into the second quarter, so Kabi’s performance should not decrease from the first three months of 2020, Sturm told a conference call.
Fresenius said its hospital-operating unit Helios overcame pandemic-related costs as the German government is compensating hospitals for procedures they cancel to focus on COVID-19 patients. It pays 560 euros for every missed treatment day compared to 2019.
Helios is waiting to see how much compensation it can get for its Spanish division, which treated 13% of all COVID-19 inpatients in the country, Sturm said.
The group said it would revisit its 2020 guidance when publishing results for the second quarter, when it expects a greater COVID-19 effect than in the first three months of 2020, although it does not see an impact on dividend payments.
The company is also not considering issuing equity as it expects reduced investment as some projects are delayed from this year to the next, Sturm said.
Fresenius’ separately-listed dialysis unit, Fresenius Medical Care (FMC), also reported better-than-expected first-quarter net income, saying patients’ continued need for dialysis offset pandemic-related costs of about 30 million euros.
FMC’s earnings were also spurred by a switch to generic dialysis drugs, high demand for its Novalung respirator alternative and the fact that dialysis patients with COVID-19 are more likely to need acute blood purification, the company’s spokesman said.
The dialysis specialist is also set to receive U.S. state aid, but the amount will depend on the development of the pandemic, FMC said.
Both companies were among the biggest risers on Germany’s blue chip index with Fresenius up 2.7% and its dialysis unit up 2.4% at 1450 GMT.
https://www.marketscreener.com/FRESENIUS-MEDICAL-CARE-AG-436087/news/Fresenius-Medical-Care-reports-first-quarter-net-income-beat-on-pandemic-demand-30546517/
Healthcare companies worldwide have benefited from subsidies and increased demand as a result of the coronavirus crisis, but they have also faced new costs, including protective gear.
Fresenius’ first-quarter net income was 465 million euros (406.10 million pounds), above analysts’ average forecast of 421.8 million euros, a Refinitiv poll found.
“It is, however, too early to say with any certainty what impact COVID-19 will have on the company’s full business year,” Chief Executive Stephan Sturm said in a statement.
On April 7, Fresenius’ infusion drug unit Kabi said it was trying to meet demand by focusing on products used in COVID-19 patients, such as sedatives and painkillers.
Increased demand should last into the second quarter, so Kabi’s performance should not decrease from the first three months of 2020, Sturm told a conference call.
Fresenius said its hospital-operating unit Helios overcame pandemic-related costs as the German government is compensating hospitals for procedures they cancel to focus on COVID-19 patients. It pays 560 euros for every missed treatment day compared to 2019.
Helios is waiting to see how much compensation it can get for its Spanish division, which treated 13% of all COVID-19 inpatients in the country, Sturm said.
The group said it would revisit its 2020 guidance when publishing results for the second quarter, when it expects a greater COVID-19 effect than in the first three months of 2020, although it does not see an impact on dividend payments.
The company is also not considering issuing equity as it expects reduced investment as some projects are delayed from this year to the next, Sturm said.
Fresenius’ separately-listed dialysis unit, Fresenius Medical Care (FMC), also reported better-than-expected first-quarter net income, saying patients’ continued need for dialysis offset pandemic-related costs of about 30 million euros.
FMC’s earnings were also spurred by a switch to generic dialysis drugs, high demand for its Novalung respirator alternative and the fact that dialysis patients with COVID-19 are more likely to need acute blood purification, the company’s spokesman said.
The dialysis specialist is also set to receive U.S. state aid, but the amount will depend on the development of the pandemic, FMC said.
Both companies were among the biggest risers on Germany’s blue chip index with Fresenius up 2.7% and its dialysis unit up 2.4% at 1450 GMT.
https://www.marketscreener.com/FRESENIUS-MEDICAL-CARE-AG-436087/news/Fresenius-Medical-Care-reports-first-quarter-net-income-beat-on-pandemic-demand-30546517/
Japan to approve Gilead’s remdesivir tomorrow, Abe says
Japan plans to approve Gilead Sciences’ (NASDAQ:GILD) antiviral remdesivir on Thursday, according to Prime Minister Shinzo Abe.
In a live-streamed interview, Abe says he will
confer with experts May 14 and is looking to set standards for lifting
the emergency declared over the COVID-19 pandemic, Bloomberg notes.
those will be based on analysis of new infections as well as the overall
healthcare system.
He also says trials will begin of an anti-parasite drug, ivermectin.
https://seekingalpha.com/news/3570803-japan-to-approve-gileads-remdesivir-tomorrow-abe-saysMorphoSys AG reports Q1 results
MorphoSys AG (OTCPK:MPSYF): Q1 GAAP EPS of €6.11.
Revenue of €251.22M (+1754.0% Y/Y)
https://seekingalpha.com/news/3570789-morphosys-ag-reports-q1-resultsFDA OKs Dr. Reddy’s migraine med Elyxyb
The FDA approves Dr. Reddy’s Laboratories’ (RDY +2.3%) Elyxyb (celecoxib oral solution 25 mg/mL) for the acute treatment of migraine in adults with or without aura.
The company plans to commercialize the product through partners.
https://seekingalpha.com/news/3570371-fda-oks-dr-reddys-migraine-med-elyxybFDA OKs Novartis’ Tabrecta for certain lung cancer patients
Incyte (INCY -1.9%) announces that the FDA has approved exclusive licensee Novartis’ (NVS +1.2%)
Tabrecta (capmatinib) for the treatment of adult patients with
metastatic non-small cell lung cancer (NSCLC) whose tumors have a
mutation that leads to MET exon 14 skipping (METex14) as detected by an
FDA-approved test. The nod applies to a first-line setting as well as
previously treated patients regardless of prior treatment type.
The approval triggers a $70M milestone payment to Incyte who will also receive 12-14% royalties on net sales.
METex14 occurs in 3-4% of newly diagnosed NSCLC
cases. Capmatinib, an oral MET inhibitor, is the first such drug
approved in the U.S. for these patients.
https://seekingalpha.com/news/3570367-fda-oks-novartis-tabrecta-for-certain-lung-cancer-patientsImmunomedics EPS beats by $0.01
Immunomedics (NASDAQ:IMMU): Q1 GAAP EPS of -$0.44 beats by $0.01.
cash, cash equivalents, and marketable securities of $540.6M
Shares +1%
https://seekingalpha.com/news/3570380-immunomedics-eps-beats-0_01
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