Written by: Aaron Katsman | December 11, 2007
Aaron Katsman
IsraelNewsletter.com
Great news for all of you heartburn sufferers. Perrigo(PRGO), the world’s largest manufacturer of OTC pharmaceutical products for the store brand market, announced that the Food & Drug Administration granted final approval to partner Dexcel Pharma Technologies Ltd. for over-the-counter generic heartburn drug tablets.
As the exclusive U.S. marketer and distributor of omeprazole for the over-the-counter market, Perrigo said it expects to begin shipments during the first quarter with full-year annual sales estimated between $150 million and $200 million.
This is a huge win for the healthcare supplier. The company raised guidance for ‘08, to between $1.32 and $1.47 per share, between 20-25 cents higher than their previous forecast.
Perrigo has been a huge winner in ‘07, and sure looks poised to continue moving upward in 2008.
Disclosure: Author’s fund owns stock in and is long PRGO. He holds no position in any other stock mentioned, as of 12/11/07.
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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
Written by: Aaron Katsman | November 16, 2007
Aaron Katsman
IsraelNewsletter.com
With yesterday’s news that Barry Bonds was indicted on perjury charges, I thought it would be appropriate to give an Israeli stock whose YTD performance has been so good, it’s as if they are on steroids. Funny enough, they also happen to be a pharmaceutical company.
Perrigo(PRGO) has surged about 80% YTD. Perrigo is a leading global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products. The Company is the world’s largest manufacturer of OTC pharmaceutical products for the store brand market. While it’s not technically an Israeli company, after all the are based in Michigan and have been around for more than 100 years, they do a lot of their development and manufacturing in Israel, and they bought an Israeli Pharma company a few years ago.
The company had a great quarter and raised their outlook. They raised their fiscal ‘08 outlook range to between $1.12 and $1.22 a share. It had earlier forecast earnings of $1.00 to $1.10 per share.
While they don’t produce anything that will make you a home-run champ, they are launching a new heartburn drug. Barry, with all the legal trouble you may want a prescription.
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Disclosure: Author has a position in PRGO as of 11/16/07.
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Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
Written by: Zack Miller | November 15, 2007
I stumbled across the Reuters Health Summit that’s taking place in New York this week. Interestingly enough, they’re blogging the conference, so cheap investors like me can “attend” remotely. You can find the blog for the summit here.
Israeli generics giant, Teva Pharmaceuticals (Nasdaq: TEVA), participated and there’s a great (short) audio clip on what Teva believes in happening in the biogenerics space during and after the election cycle. Go here to check it out.
Written by: Aaron Katsman | September 19, 2007
By Aaron Katsman
www.IsraelNewsletter.com
Emerging market guru Mark Mobius, continues to gain momentum in his bid to block the sale of Taro Pharmaceuticals(TAROF.pk) to the Indian drug company Sun Pharmaceutical Industries Ltd. Taro delayed it’s planned shareholder meeting after it became apparent that they couldn’t assure the votes needed to win merger approval. While delay tactics may have worked in the past, new judge Michal Agmon-Gonen, won’t put up with it any longer. She’d fed up and she’s not gonna take it anymore.
Judge Agmon-Gonen schedule a hearing for January 13, 2008. In the event that Taro again postpones its shareholders meeting, the judge said, “If no shareholders meeting is held, the hearing on this date will decide on how Templeton’s(BEN) petition will be heard, without waiting for the results of the shareholders meeting.”
Taro has used every trick under the sun to stall. Taro notified the SEC that the audit of its 2006 financial report by Ernst & Young would be completed soon, and that financials for Q1 and Q2 of 2007 would be ready now. Once the financials are ready, a shareholder meeting could take place in October or November. Surprise, surprise. Now it appears that Taro will not meet these dates either. Taro’s attorney told the judge, “We’re working on it.”
She then went on to take a shot at Taro. “I cannot understand how it is possible to undertake a merger without financial reports. That is a scandal in itself, and contravenes the Companies Law.”
Looks like we have a judge with common sense.
Go Templeton Go!
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Disclosure: Author’s fund has no position of any stocks mentioned as of 9/19/07.
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Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
