Tag Archives: act

Actavis Q1 Earnings Beat On Generic Cymbalta Surprise

Specialty drug giant Actavis (ACT) beat analyst Q1 estimates Wednesday, but the company warned that Q2 earnings will be lower due to new competition. Actavis stock was up 2.5% in morning trading on the stock market today, near 203. Earnings jumped 75% over the year-earlier quarter to $3.49 a share, topping analysts’ consensus by 25 cents, according to Thomson Reuters. Sales gained 40% to $2.66 billion, beating estimates by about $70 million. As in

Actavis Reporting Q1 Earnings Amid Merger Frenzy

Specialty-drug giant Actavis (ACT) is due to report another quarter of growth, before the market open Wednesday, as the IBD 50 stock continues to swell through acquisitions. Analysts polled by Thomson Reuters estimate Actavis made $3.24 a share in the quarter, up 63% from the year-earlier quarter. Sales were estimated to grow 36.5% to $2.59 billion. Actavis hasn’t given any guidance for the year, saying it will wait until it completes its

Forest Acquiring Furiex To Boost GI Franchise

Specialty drugmaker Forest Laboratories (FRX) agreed to pay $1.1 billion in cash for smaller counterpart Furiex Pharmaceuticals (FURX) Monday, sending the latter’s stock up more than 30% in midday trading on the stock market today. Forest, which is itself in the process of being bought by Actavis (ACT), will pay $95 a share, a 19% premium to Friday’s closing price. Forest also agreed to pay up to $30 a share, or $360 million, depending on how