Nine Boston Biotechs That Are Actually Profitable
July 22, 2015
By Alex Keown, BioSpace.com Breaking News Staff
BOSTON – Not all biotech companies show an annual profit, but nine Boston-based pharmaceutical firms were able to please investors with a strong financial year, the Boston Business Journal reported this morning.
The drug companies and annual revenues, compiled by the Boston Business Journal, are below:
1. Biogen, Inc.
The company’s 12-month revenue is about $103 billion with annual earnings per share of $13.90. Biogen will release its full-year financials later this week, although the company’s stock took a hit this morning after it announced results from its latest clinical trials around its Alzheimer’s drug BIIB037, or aducanumab, which had shown promise in reducing amyloid brain plaque in earlier tests. This morning Biogen announced that the new data was consistent with previously reported results. The 54-week data from the six milligram patients showed a statistically significant decrease of beta amyloid in the brain, but did not show a statistically significant improvement in cognitive decline, although apparently it did show some improvement, something that has not impressed investors this morning.
2. Shire Pharmaceuticals
The Ireland-based company’s 12-month revenues are approximately $6.16 billion with annual earnings per share of $11.04. Shire is expected to release its full-year financial reports later this week. Shire’s big revenue drug drivers are Vyvanse, used in ADHD and Lialta, for ulcerative colitis. Like many other pharmaceutical companies, Shire has been Shire has been driving growth through acquisitions. In January, Shire greed to buy U.S. group NPS Pharmaceuticals, Inc. for $5.2 billion Shire (SHPGY) has been involved with more than $250 billion worth of acquisitions this year, Reuters noted. A $50 billion deal between Shire and AbbVie to merge fell apart last year after the U.S. government changed the tax rules on companies relocating their corporate headquarters overseas to receive tax breaks. In 2011, Shire had also been in talks with Cubist Pharmaceuticals, Inc. for a possible acquisition, but that never transpired. Cubist was acquired by Merck & Co. earlier this year.
3. AMAG Pharmaceuticals, Inc.
Amag’s 12-month trailing revenue is approximately $93 million, with earnings per share of $6.45. Amag’s revenues are driven primarily by sales of Makena, a drug used to prevent premature birth, Faraheme, an iron deficiency drug and Mugard, a drug used in the treatment of oral mucositis.
4. Enanta Pharmaceuticals, Inc.
Enanta’s 12-month trailing revenue was reported to be $180 million, driven in part by large milestone payments from AbbVie for the hepatitis C drug, Viekirax. The company’s 12-month trailing earnings are $6.23 per share.
5. Charles River Laboratories
Charles River’s revenue is driven primarily from biotech companies that outsource research. The company’s 12-month trailing revenue is reported to be about $1.32 billion with 12-month earnings per share at $2.70. Earlier this month, Charles River bolstered its microbial detection business with the $212 million acquisition of Celsis International Ltd. Charles River said it expects the acquisition of Celsis, a provider of rapid microbial detection systems for quality control testing in the biopharmaceutical and consumer products industries, to make its Endotoxin and Microbial Detection business a “one-stop-shop” for rapid quality control testing.
6. Juniper Pharmaceuticals
Juniper’s 12-month trailing revenue is about $34 million with 12-months earnings per share at .25 cents. The company’s revenue is driven by sales of Crinone, a progesterone gel.
7. pSivida Corp.
Illuvien-maker pSivida Corp. has a 12-month trailing revenue of $26 million and 12-month earnings per share of .25 cents.
8. Repligen Corporation
Repligen Corp., a maker of Protein A and other substances and equipment for the manufacture of biologics drugs, has 12-month trailing revenue of about $68 million and 12-month earnings per share of .21 cents.
9. Harvard Bioscience
Harvard Bioscience, driven by sales of research equipment, has 12-month trailing revenue of about $109 million with 12-month earnings per share of .01 cents.