Shares of VIVUS, Inc.(NASDAQ:VVUS) fell by $3.16 or 21.14% to $11.79 in the morning session as the company posted a wider than estimated loss in the Q3.
Vivus posted a net loss of $40.40 million or $0.40 cents per share in comparison to $8.63 million 0r $0.10 cents per share for the last year.
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The biopharmaceutical company dedicated to the development and commercialization of novel therapeutic products, primarily attributed increased selling, general and administrative expenses related to pre-commercialization and commercialization activities for Qsymia to be the reasons for increase in net loss.
The start-up costs associated with the post-approval studies for Qsymia and STENDRA led to increase in research and development expenses.
Prescriptions shipped from certified pharmacies to patients helped the company to recognize net product revenue of $41 thousand for the third quarter.
Stocks of Express Scripts Holding Company(NASDAQ:ESRX) fell by $8.70 or 13.84% to $54.18 in the morning session as the company deemed the analyst forecast for year 2013 as "overly aggressive," which casted doubts as to how well the company is integrating its $29 billion purchase of Medco Health Solutions Inc.
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Excluding special items the third quarter earnings were $1.02, arise by 29% in comparison to last year, which beats analyst expectation of 99 cents per share according to Thomson Reuters I/B/E/S.
Further net income rose by 21% to $391.4 million as compared to last year. Revenue increased by 133% to $27 billion. Claims rose 116 percent to 398.6 million.
Raising the lower end of its forecast range for 2012 earnings by 5 cents Express Scripts projects full-year profit this year of $3.65 to $3.75 a share.
Analyst projects $4.49 a share in 2013, according to Thomson Reuters I/B/E/S. But the company said the analyst forecast to be too aggressive.