Sagent Q3 net revenue jumps 94%
SCHAUMBURG, Ill. — Third-quarter net revenue for Sagent Pharmaceuticals jumped 94% to $41.3 million, thanks to several new product launches during the period.
Gross profit for the quarter ended Sept. 30 was $6.9 million, or 16.8% of net revenues, compared with $2.7 million, or 12.9% of net revenues, in the year-ago period.
"I am very pleased with the growth we achieved during the quarter, nearly doubling our gross margin percentage from the second quarter," Sagent founder, board chairman and CEO Jeffrey Yordon said. "We have seen strong demand for our new product launches, especially levofloxacin, where we were the first company to launch and gemcitabine. In addition, we have been able to help alleviate market shortages through the launches of vecuronium and paclitaxel. We expect to continue our revenue and gross margin momentum in the fourth quarter, while focusing on the launch of 40 additional products, which are represented by 75 [abbreviated new drug applications] that have been recently approved or are pending approval by the [Food and Drug Administration]."
FDA approves J&J’s Xarelto for stroke prevention
SILVER SPRING, Md. — The Food and Drug Administration has approved a drug made by Johnson & Johnson for preventing stroke in patients with abnormal heart rhythm, the agency said.
The agency announced Friday the approval of Xarelto (rivaroxaban), an anti-clotting made by J&J subsidiary Janssen Pharmaceuticals, in patients with non-valvular atrial fibrillation. The FDA approved the drug in the 10-mg strength in July for deep-vein thrombosis in patients receiving knee and hip replacement surgery. The latest approval includes 15-mg and 20-mg strengths.
Atrial fibrillation is one of the most common types of abnormal heart rhythm and affects more than 2 million people. The condition causes irregular and poorly coordinated beating of the heart’s two upper chambers, which leads to pooling and clotting of blood.
"Atrial fibrillation can lead to the formation of blood clots, which can travel to the brain, blocking blood flow and causing a disabling stroke," FDA Division of Cardiovascular and Renal Products director Normal Stockbridge said. "This approval gives doctors and patients another treatment option for a condition that must be managed carefully."
Walgreens joins Magic Johnson Foundation on Point Forward Day
LOS ANGELES — The Magic Johnson Foundation on Monday initiated Point Forward Day, marking 20 years to the date that Johnson announced his HIV status and subsequent retirement from the National Basketball Association.
In partnership with AIDS Healthcare Foundation, MJF will host free confidential testing events at retailers, including Walgreens in Chicago. At select locations, testing will include participation from government officials, dignitaries and athletes who will lead their communities by getting tested first at on site mobile units.
From 10 a.m. to 10 p.m. on Nov. 7, in partnership with Beyond Care and South Side Health Center, Walgreens will be providing 12 straight hours of free HIV screenings at their new flagship store at 75th and State. People who stop by during the day will be able to receive testing, counseling and will be entered into a raffle for valuable prizes, including Jay-Z tickets, Walgreens gift cards and a basketball signed by Magic Johnson to mark the occasion. Power 92 will be broadcasting from the Walgreens from 6 p.m. to 10 p.m. and the Soul 106.3 Van will be on hand from 3 p.m. to 5 p.m. to provide music and raffles.
Johnson has donated a signed basketball that will be raffled off to all participants who are screened that day. Other prizes will be awarded during the day including concert tickets and Walgreens $100 cash cards.
"Not only will the participants be able to take advantage of free HIV screenings, but our medical experts will also be available to provide immediate information on treatments and overall healthy living," Walgreens director of community affairs John Gremer said. "We look forward to partnering with the Magic Johnson Foundation to create more Walgreens Community Empowerment Centers in our own backyard."
Additionally, mobile testing units will be available across the United States, including Atlanta, Chicago, Dallas, Fort Lauderdale, Fla., Los Angeles, Miami, New Orleans, New York, San Antonio, Hampton, Va., Wilton Manors, Fla., Marrero, La. and Washington, D.C.
Point Forward Day is made possible through the generosity of its title sponsor, Wells Fargo, which has been a long time support of the Magic Johnson Foundation. Best Buy, Cisco, FedEx, Grockit, IBM, AEG and Walgreens will be providing additional local and national support through technical assistance, employee engagement and in-kind contributions.
Celebrities and athletes are joining the campaign through a social media initiative aimed at raising awareness about HIV/AIDS. Dwayne Wade, Ludacris, Justin Bieber, Kobe Bryant, Adrian Peterson, Pau Gasol, Paula Abdul, Steve Nash, Monique Coleman, Faith Evans, Blair Underwood and more are pledging their support through Facebook, Twitter and Tout and encouraging fans to get tested on Point Forward Day.