On Tuesday, Shares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX), added 3.13% and closed at $22.07 in the last trading session. VRX stock opened its last trade at $21.54 and after floating in a range of $21.20 to $22.22. The company’s Market capitalization is $7.36 Billion with the total Outstanding Shares of 341.19 million. During the 52-week trading session the minimum price at which share price traded, registered at $18.55 and reached to max level of $171.50.The Earnings per Share of the company stands at $-2.86. This is not especially encouraging. Recall that Valeant’s stock has fallen around 90% in the past year, since we learned of a secret pharmacy that exclusively sold Valeant drugs. The existence of this business — called Philidor — raised questions about the company’s business practices and sparked a number of ongoing state and federal investigations. Authorities are looking into whether the company committed insurance fraud while pushing high-cost Valeant drugs, among other issues.
From Wells Fargo (emphasis ours):
“On its website, Direct Success says part of its expertise is ‘to assist maintain presence and availability of their medications for drugs that are subject to substitution at the retail level.’ Based on our review and interviews, we believe that Direct Success’s owners also operate one or more pharmacies associated with Direct Success.
“We identified a Florida-based storefront pharmacy that is a local hometown pharmacy, but appears to us to be owned by Direct Success and distributes Wellbutrin XL. We believe that there may be a noteworthyrisk to Wellbutrin XL sales if PBM scrutiny tightens around Wellbutrin XL. We are lowering our Wellbutrin XL estimates to show a greater decline.”
Shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), DROPPED -0.45% and closed at $11.07 in the last trading session. ARIA stock opened its last trade at $11.19 and after floating in a range of $11.07 to $11.43. The company’s Market capitalization is $2.13 Billion with the total Outstanding Shares of 192.71 million. During the 52-week trading session the minimum price at which share price traded, registered at $4.37 and reached to max level of $14.34.The Earnings per Share of the company stands at $-0.33. ARIAD Pharmaceuticals, Inc. (ARIA) recently declared updated clinical data on its investigational tyrosine kinase inhibitor (TKI), brigatinib, in patients with anaplastic lymphoma kinase-positive (ALK+) advanced non-small cell lung cancer (NSCLC) from an ongoing Phase 1/2 trial.
The updated Phase 1/2 results were included in a poster presentation on Sunday, October 9 at the 41st Annual Congress of the European Society for Medical Oncology (ESMO) held in Copenhagen, Denmark.
Phase 1/2 Study
The data presented at ESMO include safety analyses on all patients in the trial (N=137) and efficacy analyses on all patients with ALK+ NSCLC (n=79). Of the 79 ALK+ NSCLC patients, all but eight had failed prior crizotinib therapy. The presentation is based on patient data as of May 2016 with a median time on brigatinib treatment for ALK+ NSCLC patients of 20.0 months (range, 0.03 – 47.4 months, ongoing). Patient enrollment in the trial is complete, with the last patient enrolled in July 2014.