Last $27.10 USD
Change Today -0.305 / -1.11%
Volume 63.8K
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As of 12:42 PM 03/6/15 All times are local (Market data is delayed by at least 15 minutes).

sagent pharmaceuticals inc (SGNT) Key Developments

Sagent Pharmaceuticals, Inc. Initiates Nationwide Voluntary Recall of Atracurium Besylate Injection, USP, 50mg/5mL and 100mg/10mL

Sagent Pharmaceuticals, Inc. announced the voluntary nationwide recall of two lots of Atracurium Besylate Injection, USP, 50mg/5mL single-dose vials (NDC 25021-659-05) and four lots of Atracurium Besylate Injection, USP, 100mg/10mL multi-dose vials (NDC 25021-672-10) manufactured by Emcure Pharmaceuticals Ltd. and distributed by Sagent. Sagent has initiated this voluntary recall of Atracurium Besylate Injection, USP, 50mg/5mL and 100mg/10mL to the user level due to FDA observations pertaining to aseptic and GMP practices at the manufacturer's site potentially impacting product sterility. Non-sterility of a drug administered via the intravenous route has the potential to result in infections, which could be fatal, especially in patients who are immunocompromised. Sagent has transferred the manufacture of this product to its own facility and this product manufactured at the Sagent facility will not be impacted by the recall. Sagent is not aware of any adverse patient events resulting from the use of the subject product lots. The lot numbers being recalled are VATA012, VATA015 (50mg/5mL) and VATB012, VATB013, VATB014, VATB017 (100mg/10mL) which were distributed to hospitals, wholesalers and distributors nationwide from February 2014 through February 2015. Atracurium Besylate Injection, USP, 50mg/5mL and 100mg/10mL is indicated, as an adjunct to general anesthesia, to facilitate endotracheal intubation and to provide skeletal muscle relaxation during surgery or mechanical ventilation, and is supplied in single-dose and multi-dose vials. This recall is being conducted with the knowledge of the U.S. Food and Drug Administration.

Sagent Pharmaceuticals, Inc. Reports Unaudited Consolidated Earnings Results for Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Outlook for the Year Ending December 31, 2015

Sagent Pharmaceuticals, Inc. reported unaudited consolidated earnings results for fourth quarter and year ended December 31, 2014. For the quarter, the company’s net revenue was $84,361,000 against $64,106,000 a year ago. Income from operations was $5,050,000 against $4,958,000 a year ago. Income before income tax was $3,574,000 against $4,455,000 a year ago. Net income was $29,951,000 against $3,560,000 a year ago. Diluted net income per common share was $0.91 against $0.11 a year ago. Adjusted EBITDA was $8,683,000 against $7,124,000 a year ago. EBITDA was $8,234,000 against $7,685,000 a year ago. The increase in revenue was primarily driven by $10.0 million in revenue from the launch of 17 new codes or presentations of seven new products since December 2013 and the annualization of propofol, which launched in November 2013, and $8.6 million from the addition of Omega on October 1, 2014. For the year, the company’s net revenue was $289,783,000 against $244,750,000 a year ago. Income from operations was $19,044,000 against $31,380,000 a year ago. Income before income tax was $16,462,000 against $30,489,000 a year ago. Net income was $40,065,000 against $29,594,000 a year ago. Diluted net income per common share was $1.22 against $0.99 a year ago. Adjusted EBITDA was $32,639,000 against $40,764,000 a year ago. EBITDA was $27,661,000 against $38,206,000 a year ago. For the year ending December 31, 2015, the company expects net revenue to be in the range of $325 to $375 million and adjusted gross profit as a percentage of net revenue in the range of 27% to 31%. The company anticipates adjusted EBITDA in the range of $20 million to $50 million. EBITDA expects in the range of $16 million to $45 million. Depreciation and amortization expense expects in the range of $15 million to $17 million, interest expense, net expects in the range of $1 million to $2 million, provision for income tax in the range of $3 million to $15 million and net income expects in the range of $3 million loss to $13 million earnings.

Sagent Pharmaceuticals Mulls Acquisitions

Jeff Yordon, Sagent Pharmaceuticals, Inc.'s Chairman & Chief Executive officer said, "We have such an incredible amount of experience in this management team. We're nimble, we move quickly. And when opportunities exist, we can probably make decisions much faster than the big guys. I don't see much of a difference. And I still believe that there are opportunities out there to acquire assets, again, at fair market value".

Sagent Pharmaceuticals, Inc. to Report Q4, 2014 Results on Feb 19, 2015

Sagent Pharmaceuticals, Inc. announced that they will report Q4, 2014 results at 9:00 AM, US Eastern Standard Time on Feb 19, 2015

Sagent Pharmaceuticals, Inc., Q4 2014 Earnings Call, Feb 19, 2015

Sagent Pharmaceuticals, Inc., Q4 2014 Earnings Call, Feb 19, 2015

 

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Price/Book 3.2x
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TEV/Sales 2.7x
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