For Immediate Release
Chicago, IL – April 9, 2010 – 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: Mylan Inc. (MYL), Bristol-Myers Squibb (BMY), Pfizer (PFE), Accenture Plc (ACN) and Starwood Hotels & Resorts Worldwide Inc. (HOT).
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Here are highlights from Thursday’s Analyst Blog:
Another Approval for Mylan
Mylan Inc. (MYL) received approval from the US Food and Drug Administration (FDA) for the generic version of Braintree Laboratories’ NuLytely, a laxative. The company is eligible to ship the product immediately, which recorded US sales of about $31 million in 2009.
Following this approval, Mylan’s generic portfolio will be strengthened further. We are also happy to note that in March 2010, the company had entered into an agreement with Takeda Pharmaceutical for two type II diabetes drugs — Actoplus Met and Actos — which recorded 2009 sales of $459 million and $3.4 billion, respectively.
Mylan has received quite a few significant approvals in 2009 including the generic version of Bristol-Myers Squibb’s (BMY) Sinemet for treating Parkinson’s and Takeda Pharmaceuticals’ proton pump inhibitor Prevacid delayed-release (DR) capsules.
The company has also settled its dispute with Pfizer (PFE) related to antifungal drug Vfend (voriconazole), following which it received approval to launch the generic version of the drug.
Mylan received a significant approval in the field of HIV treatment for its subsidiary, Matrix. The company received tentative FDA approval under the President’s Emergency Plan for AIDS Relief (PEPFAR) for its New Drug Application (NDA) for a fixed-dose combination of Efavirenz, Lamivudine and Tenofovir Disoproxil Fumarate tablets.
Currently, Mylan has 144 Abbreviated New Drug Application (ANDAs) pending FDA approval, representing $96.7 billion in annual brand sales, according to IMS Health. Among these, 39 are potential first-to-file opportunities, representing $19.8 billion in annual brand sales.
Accenture Wins Banking Contract
Accenture Plc (ACN) has won a five-year application outsourcing contract from Nordea, which is a leading banking and financial services group.
The company did not disclose the financial details of the deal, but this service from Accenture is expected to help Nordea attain cost efficiency and enhance its customer service. Nordea has 30 websites which gets around 7 million monthly hits, and as per this agreement Accenture will be shouldering the responsibility of developing and maintaining the content of these websites to enhance the customer service experience.
This is the second major contract win by Accenture recently. In March, Accenture was awarded a $200 million contract by the Starwood Hotels & Resorts Worldwide Inc. (HOT). Under the contract, which will span a number of years, Accenture will provide a range of IT services including application outsourcing and infrastructure outsourcing. Accenture will develop, maintain and run applications for the hotel company, as well as manage servers, data centers and end-user computers.
These deal wins are expected to strengthen the revenue base of the company, which tumbled in the second quarter, impacted by the global economic turmoil. The company has put up a mediocre performance in the currently concluded second quarter of 2010.
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