Another day, another round of earnings calls. Today's roundup includes Allergan, which received a boost from Botox, a widely known wrinkle-fighter that is now garnering approvals around the world for a number of therapeutic uses. Also profiled is rising generics company Dr. Reddy's, which posted its biggest quarter ever. Gilead Sciences and Vertex Pharmaceuticals wrap up the profiles with both boasting gains during the fourth quarter and full-year 2011.
- Botox was big news for Allergan ($AGN) in Q4 and full-year 2011--particularly for its increasing number of therapeutic uses. For the year, therapeutic sales of the drug accounted for about 51% of total sales of the med, the company says in a release. The company got two regulatory wins in Canada at the end of the year, with the health officials there approving Botox as a prophylactic treatment for headaches in adult patients with chronic migraines and subsequently as a therapy for a certain type of urinary incontinence. Also, don't look for the company to rely on big revenues from the U.S. in coming years. Like others in Big Pharma, it will instead look to make strides in Asia (especially China), Reuters notes. "China is going to grow very quickly over the next decade. We are starting somewhat late; Botox was only approved over a year ago and therefore levels of penetration are low," Ian Bell, corporate VP and president for Asia-Pacific, told the news service. Allergan release | Story
- Dr. Reddy's Laboratories ($RDY) raised some analysts' eyebrows with an 88% rise in third-quarter consolidated net profit. This number represents its highest-ever profit, the company says in a statement. It credits the launch of its generic version of Eli Lilly's ($LLY) schizophrenia med Zyprexa (olanzapine) 20 mg in the U.S. as helping it achieve this goal. And it could be the U.S. that helps the company going forward. "The numbers are ahead of estimates simply because of the marketing exclusivity for generic Zyprexa in the U.S., while other regions are just in-line with expectations," Pinc Research analyst Sushant Dalmia explains, according to Reuters. "Going forward, the U.S. should continue to grow strong and would be a saviour ... while other regions are facing (growth) troubles." Dr. Reddy's release | Report | News
- Gilead Sciences ($GILD) saw total revenues for the fourth quarter of 2011 increase 10% to $2.2 billion. Product sales increased 11% for the quarter driven by growth in the company's antiviral franchise, which includes Atripla and Truvada. But despite its gains, analysts had expected a little more, as the company's earnings came in below Street estimates, RTTNews notes. Still, as ISI Group analyst Mark Schoenebaum points out, R&D expenses were higher than expected. "Overall, good top-line quarter, but expenses rose faster than expected," he told Investor's Business Daily in an email. Gilead release | More | Item
- Fresh off the FDA's approval of its cystic fibrosis therapy Kalydeco, Vertex Pharmaceuticals ($VRTX) has reported a big increase in total revenues for Q4 2011 compared with the same period in 2010--$563.3 million versus $65.5 million. Vertex can thank its probable hepatitis C blockbuster Incivek for its gains--the med brought in net revenues of $456.8 million. In addition, the company's net income for the fourth quarter of 2011 was $158.6 million, compared with a net loss in 2010 of $180.4 million. And the company is vowing to push on in 2012. "We will continue to advance our pipeline of eight other potential medicines and expect to generate proof-of-concept data for many of these programs throughout 2012," said Jeffrey Leiden, Vertex president and CEO, in a statement. Vertex statement