After the National Pharmaceutical Pricing Authority in India has discarded the requests of Eli Lilly & Co. (NYSE:LLY) and two others to raise prices of their insulin brands, they are ready to appeal against the drug price regulator’s decision to further reduce their net margins on the diabetes medicine in public interest, alleging discriminatory treatment.
Eli Lilly is set to argue that its profit margin has decreased to 1-2% against the allowed limit of 35% for imported brands, while its rivals Novo Nordisk (NYSE:NVO) and Sanofi Aventis enjoy a margin of as much as 25%, according to executives close to the matter said.
Pfizer Inc. (NYSE:PFE)
Pfizer Inc. (PFE) has ended the authorization to three development-stage products using the area of expertise pharmaceutical company’s tamper-resistant technology and will return the products. Pfizer Inc. has hit the new 52 weeks high price of $23.94.
Pfizer Inc. (NYSE:PFE) jumped +1.45% and closed at $23.83 with the total traded volume of 34.56 million shares. It has market capitalization of 178.40 billion while its outstanding shares are 7.49 billion and its beta value stands at 0.69 times making it less volatile stock.
Merck & Co., Inc. (NYSE:MRK)
Shares of Merck & Co., Inc. (NYSE:MRK) surged after Merck & Co. (MRK), facing broad rivalry in August to its top-selling asthma drug Singulair, reported second-quarter profit that beat analyst ballpark figure on higher sales of the diabetes medicines Januvia and Janumet.
Merck & Co., Inc. (NYSE:MRK) jumped +4.07% to close at $45.10 with the total traded volume of 29.98 million shares beating the average volume of 16.35 million. MRK has earnings per share of $2.19 with the net profit margin of 14.71% and operating margin of 16.83%.
Bristol Myers Squibb Co. (NYSE:BMY)
Bristol Myers Squibb Co. (NYSE:BMY) moved up +0.70% with the closing price of $36.05. The overall volume in the last trading session was 15.22 million shares. Its fifty two week range was $25.69-$36.34. The total market capitalization remained $60.67 billion.
BMY is ahead its 52 week low with 45.98% and its last month price volatility remained 1.23%. Its beta coefficient was 0.45 with a target price of $31.55. Company’s current year earnings per share grew with 20.47% while the five year EPS growth rate was +28.37%.