Good Morning Anons! Happy Election Day!
Red Tsunami Coming!!
Yes Anon..there are.
Profit doubles at Eli Lilly as drugmakers push Congress to fix 'donut hole'
Profit at Eli Lilly & Co. soared in the third quarter as strong U.S. sales of new prescription drugs helped counter slower growth overseas. Revenue at the Indianapolis-based drug maker rose 7 percent to $6 billion, buoyed by an 11 percent increase in U.S. sales, the company said on Tuesday. Net income grew to $1.4 billion, or $1.12 per share, higher than analyst's expectations.
The bulk of Eli Lilly's earnings came from newer prescription drugs. Worldwide sales of diabetes treatment Trulicity climbed 55 percent to $816 million, while sales of psoriasis medicine Taltz increased 74 percent to $264 million. Revenue growth was curbed, however, by lower sales of legacy products like Cialis, which recently lost exclusivity rights and is now facing generic competitors, and the drugmaker lowered the high end of its full-year profit target by 6 percent to $3.09 a share. Eli Lilly is focused on "discovering and developing breakthrough medicines," Chief Executive Officer David Ricks said in a statement. The company's stock dropped slightly to $109.55 per share in pre-market trading in New York.
After the 2018 midterm elections, sources say the drug industry will continue to push Congress to roll back a measure passed earlier this year that increased the portion of a treatment's price that companies must cover in the Medicare Part D program in order to close a gap in coverage known as the 'donut hole.' Experts say the change, which could cost the industry billions, will largely impact firms like Eli Lilly that manufacture the most popular self-administered drugs. Chief Financial Officer Joshua Smiley warned investors that revenues could decrease $200 billion in 2019 as a result of the shift. The pharmaceutical industry will be under intense pressure in Washington, D.C., regardless of whether Democrats retake the House, the Senate or both. The Trump administration is pushing a proposal to tie reimbursement rates for drugs offered in Medicare Part B to international prices. Pfizer's top executive previously said the plan "imports price controls from abroad into the U.S."
https://www.washingtonexaminer.com/business/profit-doubles-at-eli-lilly-as-drugmakers-push-congress-to-fix-donut-hole
I'll try again…is everyone grumpy ?
Good Morning Anons! Happy Election Day!
Red Tsunami Coming!!
Scanning the news, nothing alarming yet….
Maersk family ousts Danske Bank chairman after scandal
Danske Bank’s (DANSKE.CO) largest shareholder, the Maersk family, has ousted the lender’s chairman after a money laundering scandal that has also forced out its chief executive. A.P. Moller Holding, which controls about 21 percent of the share capital in the bank, has nominated Karsten Dybvad, who currently heads the Confederation of Danish Industry, to replace Ole Andersen as chairman of Denmark’s largest bank.
The move is a rare example of Denmark’s Maersk family, which controls shipping giant A.P. Moller-Maersk (MAERSKb.CO) through A.P. Moller Holding, openly flexing its muscles to seek change at one of its investments. “Danske Bank requires new leadership and changes to its board to strengthen its position as a leading Nordic bank,” Robert Uggla, chief executive of family-owned A.P. Moller Holding said in a statement. Andersen, who was appointed chairman seven years ago, has agreed to step down from the board at an extraordinary general meeting to be held within two weeks.
The change follows a scandal that involved 200 billion euros ($230 billion) in payments through Danske’s Estonian branch between 2007 and 2015, many of which the bank said in a report in September it thinks are suspicious. Danske is the subject of criminal investigations in Denmark, Estonia and the United States.
A new chairman is needed “to strengthen the bank’s ability to address its culture, compliance program and engagement with regulators,” the leading shareholder said. Danske Bank Chief Executive Thomas Borgen quit in September when the group published the report into the transactions. Turmoil at the bank deepened the following month when Jacob Aarup-Andersen, the board’s choice to take over as chief executive, was rejected by the country’s financial regulator because of a lack of experience. “I share the perception of the need for a new board, and as I have previously announced I also believe it is right for me to leave the chairmanship to new forces,” outgoing chairman Andersen said in a statement. Danish pension funds PFA and ATP both support the nomination of Dybvad as new chairman, A.P. Moller Holding said. Danske said on Tuesday that it was still searching for a permanent chief executive.
https://www.reuters.com/article/us-danske-bank-moneylaundering-chairman/maersk-family-ousts-danske-bank-chairman-after-scandal-idUSKCN1NB1SL?il=0
Anon this post is very interesting, could you link them please so we can follow.
Nice, should have happened long ago..