Revenue of $770.3M (+9.3% Y/Y) beats by $15.29M.
Wednesday, August 5, 2020
Teva posts strong Q2 earnings and cash flow as turnaround continues
Teva Pharmaceutical Industries (NYSE:TEVA) Q2 results:
Revenues: $3,870M (-7.3%), Generics: $2,086M (-8.5%).
Net income: $140M (+120.3%); non-GAAP net income: $605M (-7.4%); EPS: $0.13 (+120.6%); non-GAAP EPS: $0.55 (-8.3%).
Cash flow ops: $273M (+220.3%).
Debt reduced to $23.9B.
CVS Health up on Q2 beat; guidance raise tops estimate
CVS Health (CVS) Q2 results:
Revenues: $65,341M (+3.0%); Pharmacy Services: $34,889M (+0.1%); Retail/LTC: $21,662M (+1.0%); Healthcare Benefits: $18,468M (+6.1%).
Net Income: $2,986M (+54.6%); EPS: $2.26 (+51.7%); non-GAAP Net Income: $3,468M (+40.9%); non-GAAP EPS: $2.64 (+39.7%).
CF Ops: $10,424M (+43.1%).
Pharmacy claims processed: 505.4M (+3.4%).
Pharmacy Services Generic dispensing rate of 88.7% vs. 88.5% in Q2 2019.
Retail Prescription volume up 0.6%; Generic dispensing rate 89.1% vs. 89.0% a year ago.
Medical membership 23.6M vs. 22.8M in Q2 2019.
2020 Guidance: EPS: $5.59 – 5.72 from $5.47 – 5.60; non-GAAP EPS: $7.14 – 7.27 from $7.04 – 7.17. The mid-point for analyst estimates is $7.14; cash flow ops: $11.0B – 11.5B from $10.5B – 11.0B.
Humana Q2 earnings up big, EPS guidance raised
Humana (NYSE:HUM) Q2 results:
Revenue: $19,083M (+17.5%).
Net income: $2,586M (+110.4%); non-GAAP net income: $2,381M (+121.9%); EPS: $13.75 (+98.1%); non-GAAP EPS: $12.56 (+107.6%).
Non-GAAP EBITDA: $390M (+32.7%).
2020 guidance: EPS: $17.36 – 17.86 from $16.04 – 16.54; non-GAAP EPS: $18.25 – 18.75 (unch) vs. consensus of $18.71; membership growth: $330K – 360K from 300K – 350K; Medicare Advantage membership growth: ~550K (unch).
Hepion rallies on start of mid-stage NASH study
Dosing is underway in an open-label Phase 2 clinical trial, AMBITION, evaluating Hepion Pharmaceuticals’ (NASDAQ:HEPA) lead drug CRV431 in patients with F2 (moderate fibrosis) or F3 (advanced fibrosis) nonalcoholic steatohepatitis (NASH).
The primary endpoints of the 18-subject study are safety, tolerability, pharmacokinetic and pharmacodynamic measures. The secondary endpoint is the change from baseline in anti-fibrotic markers.
The estimated primary completion date is October.
The company says CRV431 inhibits a family of proteins called cyclophilins that play key roles in a range of cellular functions. It is also being investigated as a treatment for HBV infection.
Regeneron Pharma gains on strong Q2 and earnings beat
Regeneron Pharmaceuticals (REGN) Q2 results:
Revenues: $1,952M (+23.7%); Eylea sales in U.S.: $1,113.7M (-4.0%); Dupixent global net sales: $945M (+70%); Libtayo global sales: $80M (+96%); Praluent: $86.6M (+18%); Kevzara: $68.3M (+17%).
Net Income: $897M; EPS: $7.61; non-GAAP Net Income: $854M (+23.8%); non-GAAP EPS: $7.16 (+18.9%).
CF Ops (3 months): $943.4M (401.0%).
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