Healthcare Business Recap: Medtronic FDA Blessing, Watson Pharmaceuticals Earnings
Watson Pharmaceuticals (NYSE:WPI) announces preliminary fiscal year 2011 earnings per share of $4.75-4.77 versus $4.61 consensus. Fiscal year 2011 revenue was $4.57 billion versus $4.53 billion consensus. But, for 2012 fiscal year, the company sees earnings per share of $5.25-5.55 and revenue of $5.3 billion.
Quest Diagnostics (NYSE:DGX) is up premarket. It beat earnings on the top and bottom lines announcing a $1 billion increase in its share repurchase program. The company bought back $935 million in shares in 2011. Quest Diagnostics market cap is $8.9 billion.
Aeterna Zentaris (NASDAQ:AEZS) is down. Announcing an “at-the-market” stock issuance program through which it can sell up to 10.4 million shares, may be to blame for the drug developer’s downward trend.
Medtronic (NYSE:MDT) gained the approval of the Food and Drug Administration. The extended investigation of its CoreValve, has ended after completing the enrollment for the extreme risk study of its aortic valve treatment.
EpiCept (NASDAQ:EPCT) plummeted after the microcap pharmaceutical confirmed that it engaged SunTrust’s Robinson Humphrey to explore strategic options including an evaluation of a potential sale.
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