Americans have unofficially made Memorial Day the kickoff of summer, and it’s going to be a hot one for the drug industry. Between now and Labor Day, five companies are looking at FDA decisions that could launch blockbuster drugs, and make a big impact on their bottom lines. First up will be two drugs from Valeant Pharmaceutical Industries (VRX) and Actavis (ACT) that aim to treat the same condition: irritable bowel syndrome with diarrhea (IBS-D).
Three IBD 50 stocks are hitting new highs in the stock market today : Valeant Pharmaceuticals (VRX), Regeneron Pharmaceuticals (REGN) and NetEase (NTES). A Goldman Sachs report issued Thursday includes Valeant in the top 5 hedge fund long positions, along with Actavis (ACT), Apple (AAPL), Facebook (FB) and Microsoft (MSFT). And reports said Wednesday that Valeant is in advanced talks to buy Egyptian drugmaker Amoun Pharma. Valeant climbed 2.2% in
Specialty-drug giant and IBD 50 stock Actavis beat Wall Street’s first-quarter estimates Monday and for the first time offered 2015 earnings guidance that included newly acquired Allergan. Highly rated Ligand Pharmaceuticals (LGND) and Endo International (ENDP) also topped EPS targets. Actavis’ (ACT) earnings rose 23% vs. a year earlier to $4.30 a share, 37 cents above analysts’ consensus, according to Thomson Reuters. Sales jumped