2Q EARNINGS: Valeant dives on lower guidance; Allergan deal value takes a hit
This article was originally published in Scrip
Executive Summary
Valeant Pharmaceuticals closed down 6.7% at $117.39 per share on 31 July after the Canadian specialty pharma company lowered its full-year 2014 revenue and earnings guidance despite an 86% year-over-year increase in second quarter sales to $2bn and a 43% jump in adjusted income to $651m or $1.91 per share.
You may also be interested in...
Sage’s Dalzanemdor Prospects In Doubt After First Mid-Stage Readout
Dalzanemdor (SAGE-718) showed no difference from placebo in a Phase II Parkinson’s disease study, raising concerns about readouts later this year in Huntington’s and Alzheimer’s diseases.
First Phase III Depression Data For Intra-Cellular’s Caplyta Exceed Expectations
With positive results from the first Phase III trial of lumateperone in major depressive disorder and a second readout expected later this quarter, the company plans a supplemental filing in late 2024.
Finance Watch: Ten IPOs So Far In 2024, But Returns To Date Are Subpar
Public Company Edition: This year’s newly public companies are trading an average of 9.7% below their IPO prices, including the two most recent debuts, Boundless Bio and Contineum. Also, Nkarta, Praxis and Nurix grossed $240m, $200m and $175m, respectively, in follow-on offerings.