Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) ended Wednesday session in red amid volatile trading. The shares closed down -0.71 points or -1.32% at $53.08 with 6.65 million shares getting traded. Post opening the session at $53.60, the shares hit an intraday low of $52.65 and an intraday high of $53.82 and the price vacillated in this range throughout the day. The company has a market cap of $53.45 billion and the numbers of outstanding shares have been calculated to be 1.02 billion shares.
Teva Pharmaceutical Industries Ltd (ADR) (TEVA) on August 5, 2016 announced the launch of the generic equivalent to Gleevec®1(imatinib mesylate) tablets,100 mg and 400 mg, in the United States for multiple indications approved by the FDA.
Teva remains committed to strengthening its generics business with continued investment in new and diverse, high quality products. With nearly 375 generic medicines available, Teva has one of the largest portfolios of FDA-approved generic products on the market. The addition of this product to Teva’s oncology portfolio allows Teva to continue to grow in this therapeutic area.
Imatinib mesylate tablets had annual sales of approximately $2.42 billion in the United States, according to IMS data as of May 2016.
Shares of Opko Health Inc. (NYSE:OPK) ended Wednesday session in red amid volatile trading. The shares closed down -0.14 points or -1.40% at $9.86 with 1.91 million shares getting traded. Post opening the session at $10.00, the shares hit an intraday low of $9.82 and an intraday high of $10.05 and the price vacillated in this range throughout the day. The company has a market cap of $5.38 billion and the numbers of outstanding shares have been calculated to be 550.38 million shares.
Opko Health Inc. (OPK) on August 9, 2016 reports financial and operating results for the three and six months ended June 30, 2016.
Financial Highlights
Consolidated revenues for the three months ended June 30, 2016 increased to $357.1 million from $42.4 million for the three months ended June 30, 2015. The 2016 period includes revenue from BioReference Laboratories and EirGen which were acquired in August and May 2015, respectively. In addition, the 2016 period includes $50.0 million of revenue related to our license of RAYALDEE to VFMCRP.
Net income for the three months ended June 30, 2016 was $15.5 million compared with net loss of $42.8 million for the 2015 period. Net income (loss) during the three month periods include significant non-recurring and non-cash activities, including:
Upfront payment for the license of RAYALDEE to VFMCRP of $50.0 million; and
Other income and (expense) was $5.1 million and ($16.8) million in the 2016 and 2015 periods, respectively, primarily related to the change in fair value of derivative instruments. The change in fair value is principally related to an embedded derivative in OPKO’s January 2013 convertible senior notes due in 2033.
Upfront payment for the license of RAYALDEE to VFMCRP of $50.0 million; and
Other income and (expense) was $5.1 million and ($16.8) million in the 2016 and 2015 periods, respectively, primarily related to the change in fair value of derivative instruments. The change in fair value is principally related to an embedded derivative in OPKO’s January 2013 convertible senior notes due in 2033.
Cash, cash equivalents and marketable securities were $171.6 million as of June 30, 2016.