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Concordia Healthcare Corp. T.CXR.R



TSX:CXR.R - Post by User

Comment by GenericAdvocateon Aug 06, 2016 2:22pm
219 Views
Post# 25116847

RE:RE:not sure what to make of this article

RE:RE:not sure what to make of this articleMaybe Concordia should have commented on the generic that just came on market that will give their Nilandron a whack....   that most def is material news.  Moody's agrees.  And why the ax from the CVS  list in the first place? ......    THAT WILL be an analysist question on the earnings call no doubt for this valeant mini-me.

GenAdvocate

Lumberfeverlong wrote: What is it about the press release that you do not understand?  Their disclosure on strategic alternatives is standard. Basically, they are saying we will not disclose a transaction unless one is signed. As regards CVS, they are telling you that their pulling those two drugs will not have a material impact on the company. 

Concordia International Corp. ("Concordia" or the "Company") (NASDAQ:CXRX) (TSX:CXR.TO), an international pharmaceutical company focused on legacy pharmaceutical products and orphan drugs, today confirmed that its review of strategic alternatives is ongoing and provided an update on its business.

Concordia disclosed on April 21, 2016, that it formed a special committee of independent members of the Board of Directors of the Company to consider various strategic alternatives potentially available to the Company.

There can be no assurance that any transaction will occur. Concordia does not intend to make any additional comments at this time regarding various strategic alternatives potentially available to the Company.

The Company today also provided an update on its business.

"We remain highly confident in our business prospects going forward," said Concordia Chairman and CEO Mark Thompson. "We have a strong team across the world who help provide patients with important medicines. The team is supported by durable company fundamentals; Concordia has no liquidity or debt issues, a strong free cash profile, and sales channels in more than 100 countries. We remain optimistic about our long-term future."

Concordia's consolidated business consists of three operating segments:

 1. Concordia North America, which has a diversified product portfolio that focuses primarily on the United States pharmaceutical market; 2. Orphan Drugs, which is intended to provide growth opportunities through the expansion into new indications and new markets for existing or acquired orphan drugs; 3. Concordia International, which is comprised of Concordia's International segment acquired by Concordia on October 21, 2015.

To address recent reports, Concordia also confirmed today that there was one formulary change affecting two products in its North America portfolio.

CVS Health confirmed this week that Nilandron®, Concordia's treatment for metastatic prostate cancer, and Dutoprol®, a treatment for high blood pressure, will be removed from CVS Health's formulary.

Concordia believes this exclusion is immaterial to its business. According to IMS prescription data, CVS did not reimburse for Nilandron® at all in the past three years and has reimbursed Dutoprol® twice in 2016.

Concordia intends to provide the market with a broader update on its business on August 12, 2016 when the Company discloses its second quarter, 2016 results.

 




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