Wednesday, October 31, 2012

Stocks In News: PKI, VVUS, ARNA

PerkinElmer, Inc.(NYSE:PKI) beat analyst estimates on Thursday as it reported third quarter results that came in slightly higher than a year earlier with demand for its products rising during the quarter.

The company, which makes environmental and scientific products, earned 45 cents a share compared to analyst forecasts of 44 cents.

The company reported quarterly net income from continuing operations of $29 million, or 25 cents per share, compared with $28 million, or 25 cents per share, a year earlier.

Revenue rose 13 percent to $509.6 million.

For the full year, PerkinElmer raised its estimate for adjusted earnings per share to between $2.05 and $2.07 from its previous range of $2.00 to $2.05. Analysts had forecast $2.05.

Anti-obesity pill Qsymia manufactured by VIVUS, Inc.(NASDAQ:VVUS) is gaining in popularity as more physicians are prescribing the drug.

According to data, Qsymia prescriptions were up 30 percent from the prior week, with over 700 physicians prescribing the obesity pill. Of the total, primary care doctors represented about 70 percent of prescribers.

Information from ImpactRx showed that there was a lot of demand for the pills from women in the child-bearing age group, though the drug discloses possible risk of birth defects from prolonged use of the drug.

Qsymia is currently in its fifth week on the market, with the latest data coming from the fourth week.

Arena Pharmaceuticals, Inc.(NASDAQ:ARNA)’s similar anti-obesity pill Belviq does not carry the same birth defect risk and analysts expect that it will also see huge demand as Qsymia.

Shares of VIVUS are 1.2 percent lower Friday, while Arena is down 0.8 percent.

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