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Sanofi ($SNY) announced its fourth quarter net income at $852.2 million. Its net income, adjusted for non-recurring costs, stood at $0.67 per share. The drugmaker posted revenue of $9.56 billion for the same period. For the full financial year, the company’s reported profit stood at $5.21 billion, or $2.03 per share. Its revenue was reported as $37.43 billion.
The company also recently announced that its French site, Le Trait plant, won the tentative backing of U.S. regulators, alleviating concern about two new medicines key to growth. However, this is not official clearance. A formal inspection is scheduled for this quarter.
Sanofi has two new experimental therapies lined up for U.S. regulatory approval this year. These drug candidates are sarilumab for rheumatoid arthritis and dupilumab for a severe form of eczema.

Gilead Sciences Inc. ($GILD) announced its quarterly results with its net sales at $7.3 billion for the quarter. The company had reported $8.5 billion in revenue for the corresponding quarter of the previous year, resulting in 14.1% decrease. Its net income for the quarter dropped 34% to $3.1 billion while EPS declined 18.7% to stand at $2.70 per share.
The company also reported its full year results as well, which also showed negative streak. The company’s annual revenue at $30.4 billion showed decline of 6.9% from the previous year. Its full year net income fell 25.4 percent to $13.5 billion.
In response to the result, the company stock lost over 6% in pre-market trading session. The stock is down 14% in the past 12 months.

 

• Eli Lilly ($LLY) is reported to planning to slash up to 3% of its global R&D positions under a “voluntary reallocation program.” This program will lead to the slashing of nearly 200 positions. The company has undertaken the exercise to ensure the sustainability of its portfolio. Eli Lilly plans to increase U.S. hiring in key areas such as molecule development, immunology and Alzheimer's disease.
• Cannabics Pharmaceuticals ($CNBX) reported that it will begin offering personalized cannabinoid anti-tumor tests for cancer patients. The service, based on liquid biopsies, will test patients' sensitivities to cannabinoid compounds in parallel with conventional chemotherapy. The testing is designed to support doctors' decisions regarding the best therapies for individual patients. Commercialization will commence next month in the U.S., Europe and Canada.

• Veracyte ($VCYT) reported that Medicare Administrative Contractor Palmetto GBA has finalized its coverage policy related to its Percepta Bronchial Genomic Classifier, a 23-gene genomic test designed to improve the accuracy and safety of lung cancer screening and diagnosis. The company says that this is the first such test to be covered by Medicare. The policy will be effective from March 13.
• Taxus Cardium Pharmaceuticals ($CRXM) announced that its gene therapy candidate Generx [Ad5FGF-4] has been chosen for Fast Track review by the FDA as a one-time treatment for improving exercise tolerance in angina patients who fail to respond to standard therapy and are not suitable for conventional revascularization procedures. Fast Track status allows for more frequent interactions with the FDA review team and a rolling review of the New Drug Application (NDA).

 
• Mednax Inc. ($MD) announced earnings of $0.84 per diluted share for the quarter ended December 31, 2016. On a non-GAAP basis, MEDNAX reported Adjusted EPS of $1.00. The company also reported revenue growth of 12.0 percent to $831 million and net income of $78 million. The company CEO Roger J. Medel said that the results were impacted by same-unit neonatology patient volumes and the timing of acquisitions.
• USANA Health Sciences Inc. ($USNA) reported its fourth quarter and full year results. The company reported that its net sales increased to $252.9 million, up 8.7%, compared with $232.6 million in the prior-year period. The net sales growth was driven by an 11.9% increase in the number of active Associates. The company’s net earnings for the fourth quarter decreased by 8.7% to $21.9 million, compared with $24.0 million during the prior-year period. Earnings per diluted share for the fourth quarter decreased by 5.4% to $0.87, compared with $0.92 in the prior year period.

• Nabriva ($NBRV) receives Buy rating from H.C.Wainwright. The price target for the stock has been set at $16.
• Humana Inc. ($HUM) receives Hold rating from Cantor Fitzgerald. The price target for the stock has been set at $186.

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