For Immediate Release
Chicago, IL – November 3, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Clorox Company (CLX), Arena Pharmaceuticals (ARNA), Vivus Inc. (VVUS), Orexigen Therapeutics (OREX) and Amylin Pharmaceuticals (AMLN).
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Here are highlights from Monday’s AnalystBlog:
Clorox Cleans Up in 1Q
The Clorox Company (CLX) reported strong results for the first quarter of fiscal 2010 with earnings of $1.11 per share. Earnings were well above the Zacks Consensus Estimate of 95 cents and up 23.3% year-over-year.
Net sales for the quarter were almost flat year-over-year, declining marginally by 0.8%. The decline was primarily attributable to unfavorable foreign exchange rates, unfavorable product mix and higher trade-promotion spending. These factors were partially offset by the benefit of price increases, especially in the International segment.
Total volume increased 1%, primarily due to higher shipments of disinfecting wipes and bottled salad dressing, which were largely offset by lower shipments of trash bags and the company’s exit from its private-label food bags business.
Amylin Strikes First on Obesity
Almost all of the news in the obesity race has been made recently by three small biotech companies — Arena Pharmaceuticals (ARNA), Vivus Inc. (VVUS) and Orexigen Therapeutics (OREX), but yesterday it was mid-cap Amylin Pharmaceuticals (AMLN) that signed the first partnership in what was originally perceived to be a three-horse race.
Amylin and Takeda Pharmaceutical Company Limited entered into a worldwide exclusive license, development and commercialization agreement to co-develop and commercialize pramlintide/metreleptin and davalintide, two phase II compounds for the treatment of obesity. As part of the transaction, Amylin will receive a one-time up-front payment of $75 million from Takeda.
Amylin is also eligible to receive additional payments based on development, commercialization and sales-based milestones that could exceed $1 billion. The agreement also provides for future tiered, double-digit royalty payments to Amylin based on global product sales.
In July 2009, Amylin presented phase II data from a phase II study in 149 patients testing pramlintide / metreleptin vs. placebo over a 28-week program. The data show that patients taking the pramlintide / metreleptin combination lost an average of 22 lbs (11% body weight) vs. only 4 lbs (2%) for the placebo. These are clearly impressive results.
An extension study with pramlintide / metreleptin in around 600 patients (six month study) should offer data before the end of the year. Also, management is testing pramlintide in a phase II trial with two commonly used anti-obesity agents, phentermine and sibutramine.
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