Shares of Horizon Pharma plc (HZNP) - Get Horizon Therapeutics Public Limited Company Report rose 13.4% to $14.40 in premarket trading on Monday, Aug. 7, after the Dublin firm unveiled better-than-expected second-quarter results and raised its outlook.
Horizon reported non-GAAP earnings per share of $0.41, compared with $0.56 in the year-ago period. Net sales grew 12% year-over-year to $289.5 million. Analysts expected, on average, non-GAAP EPS of $0.10 on sales of $237 million, according to FactSet Research Systems.
For full-year 2017, Horizon upped its net sales guidance to the $1.010 billion to $1.045 billion range, from prior guidance of $985 million to $1.020 billion. It now expects adjusted Ebitda of $340 million to $375 million, compared with its previous guidance of $315 million to $350 million.
In other news, Mylan NV (MYL) - Get Mylan N.V. (MYL) Report said Monday it received tentative approval from the U.S. Food and Drug Administration under the U.S. President's Emergency Plan for AIDS Relief for its new drug application for Dolutegravir, Lamivudine and Tenofovir Disoproxil Fumarate tablets, 50 mg/300 mg/300 mg. The company said TLD will be available in developing countries as a first-line regimen for people being treated for HIV/AIDS.
Shares of Mylan were changing hands at $31.90, down 3.1%, ahead of the open. The company is scheduled to release its second-quarter results on Aug. 9.
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