Shares of Depomed Inc (NASDAQ:DEPO) ended Thursday session in green amid volatile trading. The shares closed up +0.03 points or 0.12% at $24.22 with 1.21 million shares getting traded. Post opening the session at $24.42, the shares hit an intraday low of $24.07 and an intraday high of $24.76 and the price vacillated in this range throughout the day. The company has a market cap of $1.48 billion and the numbers of outstanding shares have been calculated to be 61.37 million shares.
Depomed Inc (DEPO) on Aug. 03, 2016 reported financial results and highlighted operational achievements for the quarter ended June 30, 2016.
Business and Financial Highlights
- Second quarter 2016 revenues were $117 million, compared to $95 million for second quarter of 2015, a 23% increase
- Second quarter NUCYNTA® franchise revenue $72 million, compared to $57 million for second quarter of 2015, a 27% increase
- Quarterly net loss of ($10.5) million or ($0.17) per share
- Quarterly non-GAAP adjusted earnings of $19.8 million, or $0.27 per share
- Quarterly non-GAAP adjusted EBITDA of $42.3 million
- Favorable Patent Office (PTAB) decision denying IPR patent challenge filed by Rosellini Scientific, LLC, ending the PTAB review relating to the NUCYNTA polymorph patent that expires in 2025
- Extension of stay by District Court in NUCYNTA ANDA Litigation with a decision expected no later than September 30, 2016
“The second quarter marked the 1-year anniversary of the mid-June relaunch of our flagship NUCYNTA franchise,” said Jim Schoeneck, President and CEO of Depomed. “During the first full year after our relaunch, we delivered $274 million of total NUCYNTA net sales, an increase of 59% over the final year of sales under the previous owner. NUCYNTA ER prescriptions continued to accelerate in June, up 26% over the prior year and achieving all-time high prescription volume and market share. And this is against a backdrop of challenging opioid market conditions that see declining prescriptions for the overall market and other leading brands. We are also encouraged by the positive NUCYNTA IR trends, with May and June showing a 2% prescription volume increase year-over-year, reversing the 10% decline seen before our re-launch. We believe that our flagship franchise is well-positioned for continued growth. The rest of our portfolio also performed well, delivering $45 million in combined revenues, with record quarterly revenues from both Gralise and Lazanda. Going forward we remain focused on growing our highly-differentiated portfolio and delivering value to all the groups we serve.”
Shares of Express Scripts Holding Company (NASDAQ:ESRX) ended Thursday session in red amid volatile trading. The shares closed down -0.41 points or -0.59% at $69.25 with 3.10 million shares getting traded. Post opening the session at $69.95, the shares hit an intraday low of $69.25 and an intraday high of $70.23 and the price vacillated in this range throughout the day. The company has a market cap of $43.90 billion and the numbers of outstanding shares have been calculated to be 630.22 million shares.
Express Scripts Holding Company (ESRX) on Aug. 31, 2016 announced the launch of its Diabetes Care Value Program℠, the industry’s most comprehensive approach to improve pharmacy care while controlling plan costs for people with diabetes.
The new program – part of the Express Scripts SafeGuardRx℠ suite of pharmacy solutions – combines a novel quality-based pharmacy network, a holistic approach to diabetes patient care and cost management, and financial guarantees that will significantly reduce participating plans’ anticipated increase in diabetes-drug spend for 2017.
“Diabetes is wreaking havoc on patients, and it is also a runaway driver of cost for payers,” said Glen Stettin, MD, Senior Vice President and Chief Innovation Officer at Express Scripts. “Our Diabetes Care Value Program helps our clients and diabetes patients prevail over the cost and care challenges created by this terrible disease.”