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Thursday, November 2, 2023

Aurinia Third Quarter and Nine Months 2023 Financial and Operational Results

 Net product revenue of $40.8 million for the third quarter of 2023; an increase of 60% over the prior year third quarter

Total net revenue of $130.4 million for the nine months ended September 30, 2023, an increase of 24% over prior year

Achieved European pricing and reimbursement milestone triggering $10 million payment from Otsuka Pharmaceutical Co. Ltd.

Narrowing 2023 net product revenue guidance range to $155 - $160 million from net product sales of LUPKYNIS® (voclosporin)

Conference call to be hosted today at 8:30 a.m. ET

Aurinia will host a conference call and webcast to discuss the quarter ended September 30, 2023 financial results today, Thursday, November 2, 2023 at 8:30 a.m. ET. The audio webcast can be accessed under “News/Events” through the “Investors” section of the Aurinia corporate website at www.auriniapharma.com. In order to participate in the conference call, please dial the corrected call-in number for participants +1 (877) 407-9170 / + 1 201-493-6756 (Toll-free U.S. & Canada). An audio webcast can be accessed under “News/Events” through the Investors section of the Aurinia corporate website at www.auriniapharma.com. A replay of the webcast will be available on Aurinia’s website.

https://www.businesswire.com/news/home/20231102070232/en/

Regeneron beats quarterly profit estimates on eczema treatment strength

 Regeneron Pharmaceuticals on Thursday beat Wall Street estimates for third-quarter profit, driven by strong demand for its eczema treatment Dupixent.

Anti-inflammatory drug Dupixent, which was approved in 2017, has aided Regeneron's profits while sales of its eye drug Eylea has taken a backseat in recent quarters owing to increased competition from Roche's Vabysmo.

Quarterly sales of Dupixent, recorded by its partner Sanofi , rose 33% to $3.10 billion.

Eylea sales for the quarter fell 11% to $1.49 billion, which included $43 million sales from the higher dose, or 8 milligram dose that recently received approval in the United States.

Sales of the eye drug have missed Wall Street expectations so far this year, partly due to competition from Vabysmo since the rival secured U.S. approval last year.

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nalysts on average had expected sales of $2.20 billion for the drug in the quarter, according to LSEG data.

The company's anti-inflammatory drug, Dupixent, is currently approved for five indications including asthma and atopic dermatitis, or eczema.

TD Cowen analysts in a note ahead of the results said the global reach of Dupixent is expected to expand with projected global sales of $19 billion in 2027, which includes potential approval for use of the drug in patients with a type of lung disease called chronic obstructive pulmonary disease (COPD).

Data from a late-stage trial of the drug in COPD is expected next year.

On an adjusted basis, the company earned $11.59 per share for the quarter, above analysts' estimates of $10.72, according to LSEG data.

Regeneron's total revenue of $3.36 billion beat expectations of $3.23 billion.

https://finance.yahoo.com/news/1-regeneron-beats-quarterly-profit-104416285.html

Lilly cuts annual profit view on acquisition charges despite Mounjaro beat

  Eli Lilly on Thursday cut its full-year adjusted earnings outlook owing to charges related to its recent acquisitions, even as its popular diabetes drug Mounjaro brought in a billion dollars in quarterly sales.

Mounjaro, currently approved for diabetes, has been in high demand since its U.S. launch last year. The drug, known chemically as tirzepatide, is expected to be approved for use in weight loss by the end of this year.

Lilly, now the world's most valuable healthcare company by market capitalization, has seen its shares gain over 60% this year, fuelled by investor bets on Mounjaro's success.

Shares of the U.S. drugmaker, which were up about 3% in premarket hours before the results, reversed course to decline about 2%.

Lilly and rival Novo Nordisk are ahead in the race to grab a slice of an estimated $100 billion market for new generation obesity treatments known as GLP-1 agonists.

Mounjaro's third-quarter sales rose to $1.41 billion, beating analysts' average estimates of $1.31 billion.

However, Lilly flagged that it experienced delays in fulfilling orders of certain Mounjaro doses due to high demand during the quarter.

The company now expects annual adjusted profit in the range of $6.50 to $6.70 per share, compared with its prior forecast of $9.70 to $9.90, to reflect charges in the quarter.

Lilly has been bolstering its pipeline through small deals, and had previously disclosed it expects to record a pre-tax charge of $2.98 billion, related to its recent acquisitions.

The company reported quarterly revenue of about $9.50 billion, compared with analysts' average expectation of $8.95 billion, according to LSEG data.

https://finance.yahoo.com/news/1-eli-lilly-beats-quarterly-104258541.html

Cigna Group Reports Strong Third Quarter 2023 Results, Raises 2023 Adjusted EPS, Revenue, and Cash Flow Outlook

 

  • Total revenues in the third quarter were $49.0 billion
  • Shareholders' net income for the third quarter was $1.4 billion, or $4.74 per share
  • Adjusted income from operations1 for the third quarter was $2.0 billion, or $6.77 per share
  • 2023 outlook2 for adjusted income from operations1,2 increased to at least $24.75 per share

Moderna Reports Third Quarter 2023 Financial Results and Provides Business Updates

 

  • Third quarter 2023 revenues of $1.8 billion; Company expects 2023 revenues of at least $6 billion
  • Spikevax U.S. market share to date increased to 45% from 36% in 2022
  • Company anticipates 2024 revenue of approximately $4 billion and return to growth in 2025
  • Company has significantly improved future cost of sales by resizing its manufacturing capacity, contributing to a third quarter net loss of $3.6 billion, primarily driven by mostly non-cash charges of $3.1 billion related to resizing and a tax valuation allowance
  • Company's late-stage pipeline has six Phase 3 programs
  • Company expects to break even in 2026 through product launches and disciplined investment

Storm Ciaran lashes northern Europe with strong winds and rain, one killed in France

 Storm Ciaran smashed into northwestern Europe on Thursday with strong winds and driving rain, killing one person in France and forcing the closure of schools, airports, and rail and ferry services.

A truck driver was killed by a falling tree northeast of Paris and 1.2 million French households were left without electricity. Authorities in Finistere, Brittany, urged people to stay at home and avoid winds which were hitting 207 kph, leading to reports of 20-meter waves off the coast.

Storm Ciaran, which follows on the heels of Storm Babet two weeks ago, was driven by a powerful jet stream that swept in from the Atlantic, unleashing heavy rain and furious winds that have already caused heavy flooding in Northern Ireland and parts of Britain.

France's Interior Minister Gerald Darmanin said on social media network X that 1,315 people had to be relocated to camp sites or shelters, and several houses were evacuated in the Finistere city of Brest after a crane fell.

"I repeat: stay at home," local prefect Alain Espinasse told RTL radio.

Still, the storm in France showed some signs of abating with the Meteo France weather service reducing its alert for strong winds in Mache, Finistere and Cotes d'Armor from red to orange.

In Britain, the Channel Islands were among the worst hit areas, with the BBC reporting that windows had been blown in and one roof ripped off a house on Jersey, forcing families to move into nearby hotels.

Southern England was also badly affected, with many schools closed and the rescue charity that saves lives at sea urging people to avoid the coast.

'FAIRLY NORMAL'

Britain's Met Office issued a yellow warning for London and southeast England.

"This rough weather could make visiting our coasts around southern England and Wales treacherous and bring very dangerous sea conditions," Ross Macleod of the RNLI said.


"Not A Crisis. It's An Invasion": Massive Migrant Caravan Prepares To Storm US Border

 While everyone is laser-focused on World War III threats across the Middle East, President Biden's border crisis is only worsening as a new migrant caravan departed from southern Mexico on Monday and is headed north to the US southern border. 

According to Reuters, 5,000 migrants from Cuba, El Salvador, Guatemala, Haiti, Honduras, and Venezuela are on foot near the city of Tapachula near the Guatemalan border. 

One of the caravan's organizers, Irineo Mujica, told Reuters that civil protection officials and ambulances are escorting the migrants. 


Mujica said the migrants departed from Tapachula over their inability to secure humanitarian visas. He added that some migrants had asked local authorities to help with recovery efforts in the hurricane-stricken port of Acapulco in trade for visas. Authorities responded with "No." 

Videos are flooding 'free speech' platform X, showing the massive migrant caravan. 

Elon Musk commented on one of the videos with a "Wow." 

Fox News published new US Border Patrol data which reveals President Biden's disastrous open border policies have led to the release of 900,000 illegal immigrants into the interior US this year, including 150,000 in September alone. This offers new insight into the invasion the Biden administration allowed at the southern border (remember this?). 

The migrant invasion comes as the US military-industrial complex is funding two wars, one in Eastern Europe and the other in the Middle East.

One major worry is that some migrants from countries associated with terrorism have flooded the US. There has been no vetting of these folks, and no understanding, if any, have been radicalized - this is a huge national security threat. 

"People approved for walkovers include individuals from Iran, Lebanon, Syria, Iraq, and Afghanistan, with some of the largest numbers coming from Muslim-majority former Soviet republics such as Tajikistan, Kyrgyzstan and Uzbekistan," the NYPost said. 

It's very evident the radicals in the White House are allowing people from terror countries into the country. 

Days ago, former UK politician Nigel Farage spoke with Tucker Carlson about how migrants flooding the Western world from current conflicts are posing national security threats. 

Meanwhile, major Democrat cities, such as New York, are imploding after receiving more than 100,000 migrants this year. Some city streets have been transformed into a third-world-like state, and Mayor Eric Adams recently warned the city's immigration crisis could "break the bank."

On Tuesday, Fox News' Peter Doocy pressed National Security Council spokesman John Kirby on the increased terror threat to Americans. 

Doocy asked Kirby whether there was a possibility that a migrant could carry out a terror attack in the US since the southern border has been wide open.

Kirby responded: "I couldn't possibly answer that question, Peter. All I can do is tell you that we have remained vigilant to that potential threat." 

The federal government's lack of intervention on the southern border is a telling sign they don't have the interest of the vast majority. At the same time, they're mysteriously catering to a fringe minority that promotes open borders. And this is all before the 2024 presidential election cycle. It doesn't take a rocket scientist to figure this one out. 

https://www.zerohedge.com/markets/not-crisis-its-invasion-massive-migrant-caravan-prepares-storm-us-border