Top-rated drugmakers such as Valeant Pharmaceuticals International (VRX) and Celgene (CELG) have been busy in the lab and on Wall Street, taking part in big merger deals. Today’s IBD 50 list features five top-rated drugmakers. In addition to Valeant and Celgene, the list includes Regeneron Pharmaceuticals (REGN), Lannett (LCI) and Allergan (AGN). On Friday Biogen Idec (BIIB) priced $6 billion of senior notes, a day after Gilead Sciences (GILD)
Generic-drug maker Lannett (LCI) spiked 20% in after-hours trading Wednesday after it announced that it’s acquiring Kremers Urban Pharmaceuticals for $1.23 billion. The buyout will effectively double Lannett’s sales, and boost fiscal 2017 EPS by 20% to 25%, the company said. Kremers, the U.S. arm of Belgium’s UCB, has a portfolio of 18 products, 11 pending applications and 17 candidates in the pipeline. Among them are eight controlled substances,
Rising generic-drug maker Lannett Co. (LCI) beat Wall Street’s fiscal Q4 expectations but guided 2016 sales shy of estimates after the close Tuesday. Lannett’s earnings totaled 91 cents a share in the quarter ended June 30, up 42% from the year-earlier quarter, with sales up 23% to $99 million. Analysts expected earnings of 86 cents a share on revenue of $97.6 million, according to Thomson Reuters. Lannett stock was up nearly 1% in after-hours