Pfizer Inc. (NYSE:PFE) [Detail Analytic Report] eased up in early trading session on Wednesday as it reported that its financial results for first-quarter 2016 and updated certain components of its 2016 financial outlook. On September 3, 2015, Pfizer acquired Hospira, Inc. (Hospira). Consequently, first-quarter 2016 financial results include three months of legacy Hospira global operations while first-quarter 2015 financial results do not include any contribution from legacy Hospira operations.
Operational Factors: Strong performance to date coupled with an improved business outlook for 2016, which favorably impacted the midpoint of the guidance range for reported revenue by approximately $1.0B and for reported and adjusted diluted EPS by $0.12. Foreign Exchange: Favorable changes in foreign exchange rates since mid-January 2016, which favorably impacted the midpoint of the guidance range for reported revenue by approximately $1.0 billion and for reported and adjusted diluted EPS by $0.06.
AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) [Detail Analytic Report] released that its unaudited consolidated financial results for the first quarter ended March 31, 2016. Increased net product sales of Makena to $65 million, compared with $55.5 million in the first quarter of 2015. This growth in sales was driven by a 16% increase in volume as more at-risk pregnant women were treated with Makena. Net revenue per injection was up 1% versus the first quarter of 2015. Total revenues for the first quarter of 2016 were $109.3 million, compared with $89.5 million in the first quarter of 2015. Net product sales of Makena were $65.0 million in the first quarter of 2016, compared with $55.5 million in the same period last year.
Perrigo Company plc (NYSE:PRGO) [Detail Analytic Report] along with its partner Allergan plc (AGN) released that launch of guaifenesin 1200mg and dextromethorphan HBr 60mg extended-release tablets, the first OTC store brand equivalent to Mucinex 1200mg DM extended-release tablets, being introduced to retail and wholesale customers. First shipments of this new store branded product have been initiated and represent a first-to-market accomplishment for Perrigo and Allergan. These products are packaged and marketed as store brands or retailer ‘own label’ brands and provide consumers a high-quality, value alternative to the Mucinex® 1200mg DM extended-release product.
Mucinex 1200mg DM extended-release tablets (guaifenesin 1200mg and dextromethorphan HBr 60mg extended-release tablets) are indicated to control coughs and to break up mucus, making coughs more productive. The Mucinex® 1200mg DM extended-release product produced sales of approximately $108 million through food, drug and mass merchants during the last twelve months.