Bausch Health hit COVID-19 headwinds in Q1; guidance cut

Bausch Health Companies (NYSE:BHC) Q1 results:

Revenues: $2,012M (-0.2%); product sales: $1,986M (-0.2%).

Bausch + Lomb: $1,114M (-0.4%); Salix: $477M (+7.2%); Ortho Dermatologics: $133M (-3.6%); Diversified Products: $288M (-8.6%).

B + L/International contributed ~55% of revenue, Salix ~24%, Ortho Dermatologics ~7%.

Net loss: ($152M) (-192.3%); non-GAAP net income: $316M (-11.7%); loss/share: ($0.43) (-186.7%).

Non-GAAP EBITDA: $813M (-4.5%).

2020 guidance: Revenue: $7.80B – 8.20B from $8.65B – 8.85B; non-GAAP EBITDA: $3.15B – 3.35B from $3.50B – 3.65B.

Shares down 4% premarket on light volume.

Bausch Health Companies EPS beats by $0.01, misses on revenue

https://seekingalpha.com/news/3571103-bausch-health-hit-covidminus-19-headwinds-in-q1-guidance-cut

Biomerica up on Covid-19 rapid test’s CE mark approval

Biomerica’s (NASDAQ:BMRA) test, which is expected to cost $10, received a CE mark to be sold in countries outside the U.S.

The test is a finger prick blood test, with results on whether someone is positive or negative for Covid-19 antibodies (to determine if someone has had an immune response to exposure) are expected to be returned within 10 minutes.

BMRA will continue to supply its cassette version of its disposable finger prick test to its distribution partners who are supplying multiple customers.

Chembio Diagnostics earlier this week provided an update on its antibody test, which sent shares higher.

https://seekingalpha.com/news/3571136-biomerica-jumps-34-on-covidminus-19-rapid-tests-ce-mark-approval

Bristol-Myers Squibb affirms guidance, sees 20% earnings growth in 2021

Bristol-Myers Squibb (NYSE:BMY) Q1 results:

Revenues: $10,781M (+13.1%) (includes Celgene).

Top sellers: Revlimid: $2,915M (+13.1%); Eliquis: $2,641M (+37.2%); Opdivo: $1,766M (-1.9%); Orencia: $714M (+11.6%).

Growth remains elusive for Opdivo, sales were down 2% in Q4 2019 as well. Growth peaked at 45% in Q3 2018.

Net loss: ($766M) (-145.3%); non-GAAP net income: $3,956M (+119.3%); EPS: ($0.34) (-132.7%); non-GAAP EPS: $1.72 (+56.4%).

2020 guidance: revenues: $40.0B – 42.0B (unch); EPS: $0.37 – 0.57 from $0.75 – 0.95; non-GAAP EPS: $6.00 – 6.20 (unch).

2021 guidance: Non-GAAP EPS: $7.15 – 7.45.

Shares up 2% premarket on light volume.

Bristol-Myers Squibb EPS beats by $0.27, beats on revenue

https://seekingalpha.com/news/3571113-bristol-myers-squibb-affirms-guidance-sees-20-earnings-growth-in-2021

Magenta Therapeutics EPS beats by $0.12

Magenta Therapeutics (NASDAQ:MGTA): Q1 GAAP EPS of -$0.51 beats by $0.12.

Cash, equivalents and marketable securities of $130.41M (-10.5% Q/Q)

Press Release

https://seekingalpha.com/news/3571159-magenta-therapeutics-eps-beats-0_12

ANI Pharmaceuticals EPS beats by $0.15, misses on revenue

ANI Pharmaceuticals (NASDAQ:ANIP): Q1 Non-GAAP EPS of $1.04 beats by $0.15; GAAP EPS of -$0.59 misses by $0.58.

Revenue of $49.77M (-5.9% Y/Y) misses by $0.46M.

Press Release

https://seekingalpha.com/news/3571193-ani-pharmaceuticals-eps-beats-0_15-misses-on-revenue

Puma Bio’s Nerlynx OK’d in China

Puma Biotechnology (NASDAQ:PBYI) announces that China’s National Medical Products Administration has approved Nerlynx (neratinib) for the extended adjuvant treatment of adult patients with early-stage human epidermal growth factor receptor 2 (HER2)-positive breast cancer, following adjuvant therapy with trastuzumab (branded as Herceptin by Roche).

Licensee CANbridge Pharmaceuticals will commercialize.

Shares up 5% premarket on light volume.

https://seekingalpha.com/news/3571252-puma-bios-nerlynx-okd-in-china

Novo Nordisk Q1 top-line up 16%; guidance affirmed

Novo Nordisk (NVO) Q1 results (DKK):

Revenues: 33,875M (+15.6%); Diabetes and Obesity care: 28,591M (+15.2%); Biopharm: 5,284M (+18.1%).

Long-acting insulin: 5,158M (-2%); Fast-acting insulin: 5,114M (+3%); Premix insulin: 2,955M (+7%); Human insulin: 2,687M (+11%); Total GLP-1: 9,975M (+40%); Obesity care (Saxenda): 1,577M (+30%); Haemophilia: 2,810M (+11%); Growth disorders (Norditropin): 2,030M (+31%).

Key product sales: NovoRapid: 4,724M (-0.5%); Victoza: 4,991M (-13%); Ozempic: 4,755M; Tresiba: 2,460M (+15%); Levemir: 2,036M (-22%); NovoMix: 2,618 (+3%); NovoSeven: 2,181M (+8%).

Net Income: 11,897M (+13.9%); EPS: 5.05 (+15.8%).

CF Ops: 10,012M (+1.2%).

2020 Guidance: Sales growth (at CER): 3% – 6% (unch); Operating profit (at CER): 1% – 5% (unch); CAPEX: Around DKK6.5B (unch); Free cash flow: 36B – 41B (unch).

Shares are up 2% premarket.

Previously: Novo Nordisk reports Q1 results (May 7)

https://seekingalpha.com/news/3571256-novo-nordisk-q1-top-line-up-16-guidance-affirmed