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Wednesday, March 1, 2017

Akorn (AKRX) reported earnings on Wed 1 March 17 (b/o)

** charts after earnings **



 







Akorn beats by $0.01, misses on revs; guides FY17 revs below consensus :
  • Reports Q4 (Dec) earnings of $0.58 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.57; revenues rose 1.3% year/year to $283.7 mln vs the $287.91 mln Capital IQ Consensus.
  • Co issues downside guidance for FY17, sees FY17 revs of $1.01-1.06 bln vs. $1.12 bln Capital IQ Consensus Estimate.
    • Akorn's guidance includes $30 to $60 million from new product launches of products already approved and those expected to be approved in 2017.
      • The Company expects the majority of these revenues will be generated in the second half of the year.
    • Ephedrine Sulfate Injection. Akorn's guidance contemplates two competitors for the remainder of 2017 and that Akorn will retain 30%-35% of the market.

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