Shares of Depomed Inc (NASDAQ:DEPO) ended Thursday session in green amid volatile trading. The shares closed up +0.39 points or 1.87% at $21.24 with 3.50 million shares getting traded. Post opening the session at $20.98, the shares hit an intraday low of $20.68 and an intraday high of $21.79 and the price vacillated in this range throughout the day. The company has a market cap of $1.27 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.
“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.”
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
Shares of Express Scripts Holding Company (NASDAQ:ESRX) ended Thursday session in green amid volatile trading. The shares closed up +0.07 points or 0.10% at $70.44 with 3.38 million shares getting traded. Post opening the session at $70.20, the shares hit an intraday low of $69.76 and an intraday high of $70.70 and the price vacillated in this range throughout the day. The company has a market cap of $44.35 billion and the numbers of outstanding shares have been calculated to be 630.22 million shares.
Express Scripts Holding Company (ESRX) on Sept. 8, 2016 launched its Inflammatory Conditions Care Value Program℠, a comprehensive approach to control costs and improve care for people with inflammatory conditions like rheumatoid arthritis, psoriasis and Crohn’s Disease.
Through the combination of indication-specific formulary management and refunds for early discontinuation of therapy, this new program is the nation’s most comprehensive approach to better align a drug’s price with the value that drug provides a patient.
“Painful inflammatory conditions like rheumatoid arthritis can cripple patients and obliterate payer budgets,” said Glen Stettin, MD, Senior Vice President and Chief Innovation Officer at Express Scripts. “By finding creative ways to take better care of patients and protect our clients’ budgets, Express Scripts is uniquely tackling one of the biggest health challenges facing our country.”
Approximately ten million Americans live with an inflammatory condition. The biologic medications used to treat these conditions became the country’s costliest therapy class in 2015, representing 9.8 percent of all U.S. pharmacy spending. Express Scripts forecasts that, left unchecked, total U.S. spending on these medications will nearly double from 2015 to 2018.