CanSino Biologics delivers COVID-19 vaccine to Mexico for late-stage trial

Mexico has received the first doses of a COVID-19 vaccine candidate from Chinese pharmaceutical company CanSino Biologics Inc. for a late stage-trial on between 10,000 and 15,000 volunteers, foreign minister Marcelo Ebrard said on Tuesday.

The country aims to vaccinate nearly all of its population against COVID-19 by the end of 2021 after reaching accords with pharmaceutical companies and the World Health Organization-backed COVAX plan.

"On October 30, the first doses were received to carry out phase three of clinical trials of the candidate vaccine from Cansino Bio," Ebrard said at a news conference, adding that it would be one of the world's largest COVID-19 clinical trials. 

https://www.marketscreener.com/quote/stock/CANSINO-BIOLOGICS-INC-59318312/news/CanSino-Biologics-delivers-COVID-19-vaccine-to-Mexico-for-late-stage-trial-31681084/

Supernus Pharmaceuticals EPS beats by $0.47, beats on revenue

• Supernus Pharmaceuticals (NASDAQ:SUPN): Q3 GAAP EPS of $0.74 beats by $0.47.
• Revenue of $155.14M (+51.9% Y/Y) beats by $24.38M.
• Raises 2020 Guidance: Net product sales increased to $500-$525M from $460-500M, and operating earnings of $145-$160M from $90-110M.
• https://seekingalpha.com/news/3630784-supernus-pharmaceuticals-eps-beats-0_47-beats-on-revenue
  
  

Stryker to divest certain assets to get FTC nod on Wright Medical deal

• The U.S. Federal Trade Commission (FTC) is requiring Stryker (SYK +1.8%) to sell its total ankle replacement and finger joint implant assets in order to receive agency approval for its $4B acquisition of Wright Medical Group (WMGI +0.2%) announced a year ago.
• Under the terms of the consent agreement, Stryker will divest the businesses to California-based DJO Global, Inc.
• https://seekingalpha.com/news/3630432-stryker-to-divest-certain-assets-to-get-ftc-blessing-on-wright-medical-deal
  

Pacific Biosciences shares slide on Q3 revenue miss

• Pacific Biosciences of California (PACB -5.1%) Q3 total revenue was $19.1M, compared with $21.9M prior year, missed consensus by $1.25M.
• Q4 revenue estimated to be $24.25M.
• Instrument revenue declined $7.7M, from $11.6M prior.
• Consumables revenue increased to $8M compared with $6.9M.
• Gross profit of $7.1M vs. $6.9M.
• Gross margin of 37.0% vs. 31.5%.
• Net loss of $23.7M, compared to $29.1M.
• GAAP EPS of -$0.14 in-line with the consensus, Q4 EPS consensus of $0.26.
• Cash and investments of $208M as of Sept. 30 vs. $49.1M on Dec. 31, 2019.
• Appointed of Christian Henry as President & CEO and Susan Kim as CFO.
• Launched the new Sequel IIe System, representing the next evolution in our sequencing platform.
• https://seekingalpha.com/news/3630703-pacific-biosciences-of-california-shares-slide-5-on-q3-revenue-miss
  

Brazil on board with resumption of J&J COVID-19 vaccine study

• Brazil's health regulator Anvisa has signed off on the resumption of a clinical trial evaluating Johnson & Johnson's (JNJ +0.2%) COVID-19 vaccine in adult volunteers. The study was paused in October pending the investigation into an unexplained illness of a participant, later deemed unrelated to the vaccine.
• When the trial was halted, only 12 subjects had received either the vaccine or placebo. Up to 7,560 Brazilians could be enrolled.
• J&J's candidate is one of four being testing in Brazil, home of the world's third largest outbreak after the U.S. and and India.
• The U.S. portion of the 60K-subject study has also restarted.
• https://seekingalpha.com/news/3630627-brazil-on-board-resumption-of-j-and-j-covidminus-19-vaccine-study
  

Bausch Health shares rise on solid Q3 beat, non-GAAP earnings +10%, reiterates guidance

• Bausch Health (BHC) Q3 results:
• Revenues: $2,138M (-3.2%); Bausch + Lomb/International: $1,169M (-0.5%); Salix: $496M (-10.0%); Ortho Dermatologics: $144M (-2.0%); Diversified Products: $329M (-2.1%).
• B + L/International contributed ~55% of revenue, Salix ~23%, Ortho Dermatologics ~7%.
• Net Income: $71M (+244.9%); EPS: $0.20 (+242.9%); non-GAAP Net Income: $469M (+10.4%); non-GAAP EPS: $1.31 (+10.1%).
• CF Ops (3 mo.): $256M (-50.3%).
• 2020 guidance: Revenues: $7.80B - 8.00B (unch); non-GAAP EBITDA: $3.15B - 3.30B (unch).
• The company repaid debt by ~$100M in Q3 for a total of ~$420M to date in 2020 with cash generated from operations. BHC has no debt maturities or mandatory amortization payments until 2023.
• Bausch Health resolved outstanding intellectual property disputes with Sun Pharmaceutical Industries regarding XIFAXAN (rifaximin) 200 mg and 550 mg tablets. Salix will maintain market exclusivity for XIFAXAN until 2028.
• https://seekingalpha.com/news/3630266-bausch-health-shares-rise-5-on-solid-q3-beat-non-gaap-earningsplus-10-reiterates-guidance
  

Humana Q3 top-line up 16%; FY20 EPS guidance raised

• Humana (NYSE:HUM) Q3 results:
• Revenues: $18.82B (+15.9% Y/Y) vs consensus of $18.59B.
• EPS: $10.05 (+95.5%) vs consensus of $8.24; non-GAAP EPS: $3.08 (-38.8%) vs consensus of $2.80.
• Pretax Income: $1.76M (+97.6%); non-GAAP pretax Income: $0.55M (-36.7%).
• CF Ops: $1,815M (-25.7%).
• Benefits expense ratio: 85.3% (+30 bps) vs. consensus of 85.9%.
• 2020 Guidance: EPS: $24.70 - 24.95 from $17.36 - 17.86; non-GAAP EPS: $18.50 - 18.75 from $18.25 - 18.75 vs. consensus of $18.71; membership growth: ~375K from 330K - 360K; Medicare Advantage membership growth: projecting an increase of ~90K Y/Y; PDP business net membership: decline of ~500K members from previous guidance of ~550K.
• https://seekingalpha.com/news/3630285-humana-q3-top-line-up-16-fy20-eps-guidance-raised