AMRN'S Vascepa Hits Record Sales, ADMP Slumps On Stock Offering, SRDX On Watch…

(RTTNews) - Today's Daily Dose is all about the financial scorecards of some of the companies operating in the healthcare sector. Besides reporting an increase in quarterly revenue, the companies have also boosted their revenue outlook for the year.

Read on...

Amarin Corporation plc (AMRN) has achieved revenue of $100 million in the second quarter of 2019, which is a record for Vascepa sales. The drug generated revenue of $52.6 million in the second quarter of 2018.

Vascepa is a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia. A supplemental new drug application for Vascepa seeking cardiovascular risk reduction indication is under priority review by the FDA, with a decision date set for September 28, 2019.

The Company is planning to submit an application seeking approval for Vascepa in Europe before the end of 2019.

AMRN closed Wednesday's trading at $18.59, up 0.81%.

Adamis Pharmaceuticals Corp (ADMP) intends to offer to sell shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering.

The company expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock and/or warrants to purchase shares of its common stock offered in the public offering.

ADMP closed Wednesday's trading at $1.15, down 1.71%.

Exelixis Inc. (EXEL) reported second-quarter revenue, which came in-line with analysts' estimate while earnings topped estimates.

The total revenue for the second quarter of 2019 was $240.27 million compared to $186 million in the year-ago quarter. Analysts polled by Thomson Reuters also expected earnings of $240.2 million.

Net income for the recent second quarter declined to $79 million or $0.25 per share from $87.5 million or $0.28 per share in the year-earlier quarter. Analysts expected earnings of $0.23 per share for the quarter.

EXEL closed Wednesday's trading at $21.27, up 0.33%.

McKesson Corporation (MCK) has reported a 6% increase in revenue for the first quarter ended June 30, 2019, and has raised its earnings outlook for the year.

Revenues for the first quarter of 2019 were $55.7 billion compared to $52.6 billion a year ago, an increase of 6% on a reported basis.

On an adjusted basis, earnings per share for the first quarter of 2019, were $3.31 compared to $2.90 a year ago, primarily driven by growth in the U.S. Pharmaceutical and Specialty Solutions segment and a lower share count, partially offset by a higher tax rate.

Looking ahead to fiscal 2020, the Company has lifted its adjusted earnings per share outlook to a range of $14.00 to $14.60, up from its prior forecast of $13.85 to $14.45 per share.

MCK closed Wednesday's trading at $138.95, down 2.50%.

Pfizer Inc. (PFE) has successfully closed its joint venture with GlaxoSmithKline plc (GSK), combining their respective consumer healthcare businesses, creating the world's largest over-the-counter business.

As previously announced, under the terms of the transaction, Pfizer owns a 32% equity stake in the joint venture and GSK owns 68%. The combined business, which will operate globally as GSK Consumer Healthcare, will be led by CEO Brian McNamara.

The transaction is expected to deliver $650 million in peak cost synergies and to be slightly accretive on a full-year basis for Pfizer in each of the first three years following the closing.

PFE closed Wednesday's trading at $38.84, up 0.13%.

Surmodics Inc. (SRDX) has reported better-than-expected earnings and revenue for its fiscal 2019 third quarter ended June 30, 2019, and updated its financial outlook for fiscal 2019.

On a non-GAAP basis, earnings for the third quarter of fiscal 2019 declined to $2.12 million or $0.15 per share from $3.65 million or $0.27 per share in the year-ago quarter. Analysts polled by Thomson Reuters were expecting earnings of $0.05 per share for the quarter.

Total revenue for the recent fiscal third quarter improved to $24.34 million from $22.22 million in the year-ago period and came in above analysts' estimate of $22.29 million.

The Company has also raised its full-year revenue and earnings guidance for fiscal 2019.

For fiscal 2019, revenue is now expected to be in the range of $92.0 million to $94.0 million, up from its previous revenue range of $88.5 million to $91.5 million.

Non-GAAP EPS for the year is now expected to be in the range of $0.41 to $0.49 per share, compared with previous expectations of $0.26 to $0.36 per share.

SRDX closed Wednesday's trading at $41.70, up 0.97%.

Other Stocks To Watch…

Masimo Corporation (MASI), DexCom, Inc. (DXCM), Vertex Pharmaceuticals Inc. (VRTX), Hologic Inc. (HOLX) and CONMED Corp. (CNMD) are some of the companies that have reported an increase in quarterly revenue besides boosting their revenue outlook for the year.