The Zacks Analyst Blog Highlights:GlaxoSmithKline, Biogen, Santarus, Novo Nordisk and Tetra Tech

  The Zacks Analyst Blog Highlights:GlaxoSmithKline, Biogen, Santarus, Novo
                            Nordisk and Tetra Tech

PR Newswire

CHICAGO, June 20, 2013

CHICAGO, June 20, 2013 /PRNewswire/ --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 GlaxoSmithKline (NYSE:GSK-Free
Report), Biogen Idec (Nasdaq:BIIB-Free Report), Santarus, Inc.
(Nasdaq:SNTS-Free Report), Novo Nordisk (NYSE:NVO-Free Report) and Tetra Tech,
Inc. (Nasdaq:TTEK-Free Report).

(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of
the Day pick for free.

Here are highlights from Wednesday's Analyst Blog:

Glaxo Gets Offer for Thrombosis Drugs

GlaxoSmithKline (NYSE:GSK-Free Report) recently announced that Aspen Global
Inc., a subsidiary of Aspen Pharmacare Holdings Limited, has offered to buy
Glaxo's thrombosis brands. Aspen Pharma has also offered to purchase the
related manufacturing site in France, Notre-Dame de Bondeville. The financial
terms of the deal were not disclosed.

Glaxo's thrombosis brands include Arixtra and Fraxiparine. In the first
quarter of 2013, Arixtra and Fraxiparine generated sales of £49 million (up 2%
from the year-ago quarter) and £52 million (down 16% from the year-ago
quarter), respectively. The proposed deal does not include right to the drugs
in China, India and Pakistan.

Glaxo and Aspen Pharma are no strangers to each other. Glaxo holds
approximately 18.6% of Aspen Pharma's shares (as per Aspen Pharma's 2012
annual report). Both the companies had entered into a number of deals in the
past.

Last year, Glaxo divested the majority of its Classic Brands in Australia and
non-core over-the-counter (OTC) brands sold in international markets to Aspen
Pharma.

We note that Glaxo's product portfolio was boosted recently with the approvals
of two melanoma drugs, Tafinlar (dabrafenib) and Mekinist (trametinib) and
chronic obstructive pulmonary disease drug, Breo Ellipta. Moreover, Glaxo
boasts of a robust pipeline. A number of pipeline-related news is expected in
the coming quarters. We believe that the pipeline at Glaxo must deliver to
combat the generic threat faced by the key drugs of the company.

Glaxo carries a Zacks Rank #3 (Hold). Companies that currently look
well-positioned include Biogen Idec (Nasdaq:BIIB-Free Report), Santarus, Inc.
(Nasdaq:SNTS-Free Report) and Novo Nordisk (NYSE:NVO-Free Report). While
Biogen and Santarus are Zacks Rank #1 (Strong Buy) stock, Novo Nordisk is a
Zacks Rank #2 (Buy) stock.

Tetra Tech Projects Loss in Q3

Tetra Tech, Inc. (Nasdaq:TTEK-Free Report) recently revised its third quarter
2013 guidance to factor in the impacts of increased restructuring costs from
weakness in Eastern Canada and mining. Costs have also increased owing to new
findings on certain project claims. During the second quarter earnings call on
May 2, 2013, Tetra Tech had mentioned about prevailing weakness in Eastern
Canada and mining to adversely impact its business in the upcoming quarters.

Tetra Tech projects these charges to affect the revenue and earnings of all
three operating segments. The company now expects revenue for the third
quarter (net of subcontractor costs) in the range of $440 million to $490
million. The company expects to incur a loss in the quarter ranging between 30
cents and 50 cents a share, primarily due to the one-time charges that it
expects to incur.

Apart from this, the board of directors authorized a $100 million common stock
repurchase program.

Third-quarter restructuring costs are now expected to be $50 million, of which
$40 million are non-recurring in nature. The increase in restructuring costs
is primarily attributable to downsizing of operations as weak economic
conditions hamper project demand. Approximately two-thirds of the costs are
related to Eastern Canada operations, while about one-third is related to its
mining operations. Depending on these expected costs, Tetra Tech will
calculate its goodwill impairment charge and will inform investors during the
third quarter earnings release. 

Tetra Tech's restructuring initiatives are promising as they are in line with
the changes in the market. Right-sizing its operations may help the company to
return to its historical profit levels and improve margins.

In addition, Tetra Tech received unfavorable findings primarily associated
with claims on four programs during the quarter. Tetra Tech will thus record a
charge while continuing with the dispute resolution processes. These claims
are related to change orders for certain U.S. federal and state government
projects that are facing budget constraints. These charges are expected to
total around $45 million. 

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