Mylan Searches For Acquisitions, Merck Faces 2013 Patent Expiries: Healthcare Business Recap
Mylan (NASDAQ:MYL) might be searching for purchases so as to build upon its array of products, and to expand geographically as well. The firm is reportedly mulling deals valued at “well over” $4 billion. The primary areas Mylan would like to reinforce include specialty drugs, and arrangements for broadening its range of delivery, including companies which make topically applied drugs, which would fit its already strong core pill-related unit.
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St. Jude Medical’s (NYSE:STJ) Amplatzer PFO Occluder, which is a device through which to close holes in the heart following a stroke, failed to definitively outperform drugs in the prevention of a second stroke in patients aged below 60, according to two long-term evaluations. However, the device has been used for nearly 20 years, bringing under $100 million annually, and now its use might well be questioned.
Merck & Company’s (NYSE:MRK) earnings per share of 95 cents beats consensus by 2 cents, while revenue of $11.5 billion, down 4 percent year-over-year, misses by $100 million. The fiscal year 2012 guidance was reduced to earnings of between $3.78 and $3.82, from a prior range of $3.75 to $3.85. Sales of Merck’s Singulair plummeted by 55 percent year-over-year. Patent expiries in Europe due in February have the company projecting declining sales there, not dissimilar to those occurring in the United States.
Don’t Miss: Merck Earnings: A Mixed Picture.