British medical products maker Smith+Nephew said on Wednesday sales
in April nearly halved as more patients delayed elective surgeries, such
as hip replacements, due to coronavirus-driven lockdowns.
The company had withdrawn its annual forecast in March due to
demand-related uncertainty for its products that include orthopaedic
implants and prosthetics.
The company said April sales slumped 47% on an underlying basis,
while first-quarter revenue fell 7.6% to $1.13 billion, scraping past
analysts average expectation https://www.smith-nephew.com/inves
tor-centre/reporting/analyst-consensus/smith-and-nephew of $1.12 billion. (https://reut.rs/3frFu7e)
The London-listed company said elective procedures had resumed in
China, a key growth market, which helped counter a fall in demand.
“The recovery in China is encouraging, as is the restart of elective
surgeries in many other countries, and especially within the US,” said
Roland Diggelmann, chief executive officer of Smith+Nephew.
The company said its biggest market, the United States, had seen some
resurgence of elective surgeries but warned of lingering uncertainty
across markets.
Sales from emerging markets fell 17.9% in the quarter.
https://www.marketscreener.com/SMITH-NEPHEW-PLC-9590181/news/Smith-Nephew-Nephew-April-sales-halve-as-elective-surgeries-take-backseat-30546797/
Wednesday, May 6, 2020
Roche : Actemra studies against COVID-19 could be done this month
Roche
could complete studies of its medicine Actemra in COVID-19 patients as
early as this month, the head of the Swiss drugmaker’s U.S.-based
Genentech unit told a Swiss newspaper, as it seeks to repurpose the
rheumatoid arthritis drug.
“We’re testing all over the world and we’ve reached half of the planned 330 patients, perhaps it will be more,” said Alexander Hardy, Genentech’s head, in the interview with the Neue Zuercher Zeitung published on Wednesday.
“We’ll be finished in May or June. Parallel to that, we have 15 control studies worldwide. There are many questions: Does Actemra help reduce the need for ventilators? When should Actemra be administered? And which patient groups?”
Hardy acknowledged success would not solve the pandemic, but said it could help reduce mortality and health problems and take the heat off intensive care units where ventilators in some regions are in high demand and where many COVID-19 patients who eventually need breathing assistance die.
Should the anti-inflammation drug Actemra — beyond arthritis, it is also used for cancer patients to counteract massive, life-threatening immune system reactions called cytokine storms — turn out to help, Hardy said Roche has boosted its production from several hundred thousand doses to more than a million.
“We’re taking a big risk and expect that the studies will be positive,” Hardy told the newspaper. “If that’s not the case, then we’re going to have a surplus.”
In the former case, he sees demand for Actemra for COVID-19 peaking over the next 12-18 months until a vaccine is available.
https://www.marketscreener.com/ROCHE-HOLDING-AG-9364975/news/Roche-Actemra-studies-against-COVID-19-could-be-done-this-month-NZZ-30547185/
“We’re testing all over the world and we’ve reached half of the planned 330 patients, perhaps it will be more,” said Alexander Hardy, Genentech’s head, in the interview with the Neue Zuercher Zeitung published on Wednesday.
“We’ll be finished in May or June. Parallel to that, we have 15 control studies worldwide. There are many questions: Does Actemra help reduce the need for ventilators? When should Actemra be administered? And which patient groups?”
Hardy acknowledged success would not solve the pandemic, but said it could help reduce mortality and health problems and take the heat off intensive care units where ventilators in some regions are in high demand and where many COVID-19 patients who eventually need breathing assistance die.
Should the anti-inflammation drug Actemra — beyond arthritis, it is also used for cancer patients to counteract massive, life-threatening immune system reactions called cytokine storms — turn out to help, Hardy said Roche has boosted its production from several hundred thousand doses to more than a million.
“We’re taking a big risk and expect that the studies will be positive,” Hardy told the newspaper. “If that’s not the case, then we’re going to have a surplus.”
In the former case, he sees demand for Actemra for COVID-19 peaking over the next 12-18 months until a vaccine is available.
https://www.marketscreener.com/ROCHE-HOLDING-AG-9364975/news/Roche-Actemra-studies-against-COVID-19-could-be-done-this-month-NZZ-30547185/
NOVO NORDISK Gets a Buy rating from JP Morgan
Richard Vosser from JP Morgan retains his
positive opinion on the stock with a Buy rating. The target price is
unchanged at DKK 460.
https://www.marketscreener.com/NOVO-NORDISK-A-S-1412980/news/NOVO-NORDISK-Gets-a-Buy-rating-from-JP-Morgan-30547717/
https://www.marketscreener.com/NOVO-NORDISK-A-S-1412980/news/NOVO-NORDISK-Gets-a-Buy-rating-from-JP-Morgan-30547717/
CVS Health Sales Jump as Shoppers Stock Up on Medication
CVS Health Corp. saw higher sales in the most recent quarter as the
coronavirus pandemic led people to fill more prescriptions and to spend
more at the pharmacy chain’s stores.
Prescription volume grew more than 8% as customers rushed to stock up on medications amid the pandemic, either by refilling prescriptions early or switching to 90-day prescriptions. Same-store sales grew 8% and shoppers scooped up health-related items and other goods.
“We’re uniquely positioned to understand consumer and patient needs and how to address them,” CVS CEO Larry Merlo said in a statement.
CVS reported first-quarter net income of $2 billion, or $1.53 a share, compared with $1.4 billion, or $1.09 a share, in the comparable quarter a year before. Adjusted earnings were $1.91 a share.
Analysts were looking for earnings of $1.22 a share, or $1.62 a share on an adjusted basis.
CVS said its revenue rose 8.3% to $66.8 billion from the same period a year earlier, as revenue grew across all segments. Analysts were targeting $64.1 billion.
Revenue in its retail segment, which fulfills prescription medications and sells a range of merchandise, was $22.7 billion, up 7.7% compared with the year-earlier period. CVS has faced pressure in its retail-pharmacy business but has begun to fare better than rival Walgreens Boots Alliance Inc. Walgreens also generated stronger-than-expected sales during its latest quarter, though the company’s operating income fell 19%, in part because of reimbursement pressure on prescription drugs.
The company’s health-care benefits business, which includes Aetna, posted revenue of $19.2 billion, an increase of 7.4%.
Revenue grew 4.2%, to $35 billion in the pharmacy-services segment.
https://www.marketscreener.com/CVS-HEALTH-CORPORATION-12230/news/CVS-Health-Sales-Jump-as-Shoppers-Stock-Up-on-Medication-30549037/
Prescription volume grew more than 8% as customers rushed to stock up on medications amid the pandemic, either by refilling prescriptions early or switching to 90-day prescriptions. Same-store sales grew 8% and shoppers scooped up health-related items and other goods.
“We’re uniquely positioned to understand consumer and patient needs and how to address them,” CVS CEO Larry Merlo said in a statement.
CVS reported first-quarter net income of $2 billion, or $1.53 a share, compared with $1.4 billion, or $1.09 a share, in the comparable quarter a year before. Adjusted earnings were $1.91 a share.
Analysts were looking for earnings of $1.22 a share, or $1.62 a share on an adjusted basis.
CVS said its revenue rose 8.3% to $66.8 billion from the same period a year earlier, as revenue grew across all segments. Analysts were targeting $64.1 billion.
Revenue in its retail segment, which fulfills prescription medications and sells a range of merchandise, was $22.7 billion, up 7.7% compared with the year-earlier period. CVS has faced pressure in its retail-pharmacy business but has begun to fare better than rival Walgreens Boots Alliance Inc. Walgreens also generated stronger-than-expected sales during its latest quarter, though the company’s operating income fell 19%, in part because of reimbursement pressure on prescription drugs.
The company’s health-care benefits business, which includes Aetna, posted revenue of $19.2 billion, an increase of 7.4%.
Revenue grew 4.2%, to $35 billion in the pharmacy-services segment.
https://www.marketscreener.com/CVS-HEALTH-CORPORATION-12230/news/CVS-Health-Sales-Jump-as-Shoppers-Stock-Up-on-Medication-30549037/
FRESENIUS SE: Receives a Buy rating from Bernstein
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/
https://www.marketscreener.com/FRESENIUS-SE-CO-KGAA-436083/news/FRESENIUS-SE-Receives-a-Buy-rating-from-Bernstein-30550026/
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-says
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