Reuters.com is reporting that Johnson & Johnson announced that for fiscal 2010, it continues to expect earnings of $4.85 to $4.95 per share. According to Reuters Estimates, analysts on an average are expecting the Company to report earnings per share (EPS) of $4.92 for fiscal 2010.
At today's stock price of about $63.80, with a 2010 EPS of $4.92 that results in a forward PE of about 13. That seems like a flat out steal of a valuation for J&J.
Abbott Laboratories announced that, it has received CE Mark for its XIENCE PRIME Everolimus Eluting Coronary Stent System for the treatment of critical limb ischemia (CLI) or severe claudication (pain) of the lower leg. CLI is the most advanced form of peripheral artery disease (PAD) that can ultimately lead to limb amputation. With this expanded indication, XIENCE PRIME can be marketed to treat CLI or severe claudication of the lower leg in European Union countries and others that recognize CE Mark.
Privately held Theraclone Sciences Inc., of Seattle, has signed a multiyear research and development collaboration with Pfizer Inc. for the company's in situ therapeutic antibody rescue (I-STAR) technology. The deal makes Theraclone eligible to receive up to $632 million in research funding and milestone payments upon the achievement of discovery, development, regulatory and commercialization milestones, plus undisclosed royalties on future. Pfizer will be responsible for preclinical and clinical development of the antibodies.
AmerisourceBergen's President and Chief Executive Officer, R. David Yos reaffirmed the Company's expectations for fiscal year 2010. "AmerisourceBergen continues to expect diluted earnings per share from continuing operations for fiscal year 2010 to be in a range of $1.89 to $1.98, which represents an increase of 12 percent to 17 percent over the $1.69 in fiscal year 2009," said Yost. "Also unchanged are our key assumptions supporting this diluted earnings per share range, which are: revenue growth of between 7 percent and 8 percent; operating margin expansion in the low to mid single digit basis point range; and free cash flow in the range of $500 million to $575 million, which includes capital expenditures in the $140 million range. Assumptions also include the expected repurchase of approximately $350 million of AmerisourceBergen common shares in fiscal 2010."
AmerisourceBergen is one of the world's largest pharmaceutical services companies serving the United States, Canada and selected global markets. Servicing both pharmaceutical manufacturers and healthcare providers in the pharmaceutical supply channel, the Company provides drug distribution and related services designed to reduce costs and improve patient outcomes.
Bristol-Myers Squibb declared a regular quarterly dividend in the amount of $.32 per share payable June 1, 2010 to shareholders of record on May 7, 2010.
At today''s $25.10 stock price the dividend yield is 5.10%.
Today, the Federal Court in Australia dismissed all claims against Merck & Co., Inc. specifically finding that Merck was not negligent in its development, scientific study and sale of Vioxx.
The Court dismissed all claims against Merck & Co., Inc. specifically finding that Merck was not negligent in its development, scientific study and sale of Vioxx. Merck and MSD Australia disagree with the limited portions of the Court’s findings that were against MSD Australia and intend to appeal them.
|Abbott's XIENCE PRIME Receives CE Mark (ABT)|
|Theraclone, Pfizer Ink Antibody Agreement (PFE)|
|Bristol-Myers Squibb Dividend Announcement (BMY)|
|Australia Court Dismisses Claims Against Merck (MRK)|
|J&J Reaffirms Fiscal 2010 Guidance (JNJ)|
|Abbott and GSK Team on Skin Cancer Test (ABT)|
|Pfizer and Medivation Alzheimer's Results (PFE)|
|J&J to Cut Bonus Targets for Some (JNJ)|
|Boston Scientific to Cut Over 1000 Jobs (BSX)|
|Genzyme Reports 4th Qtr and Full 2009 Results (GENZ)|
|Quest Diagnostics Declares Dividend (DGX)|
|Cephalon Record Sales and Adjusted Net Income (CEPH)|
|Merck Earnings Preview (MRK)|
|Boston Scientific 4th Qtr Results (BSX)|
|UnitedHealth Continues Dividend, Renews Buy Backs (UNH)|