NEW YORK, June 21, 2013 /PRNewswire/ --
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Today, Wall Street Reports announced new research reports highlighting Abbott Laboratories (NYSE: ABT), PAREXEL International Corporation (NASDAQ: PRXL), PDL BioPharma Inc. (NASDAQ: PDLI), Health Net, Inc. (NYSE: HNT), and Molina Healthcare, Inc. (NYSE: MOH). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Abbott Laboratories Research Report
On June 14, 2013, Abbott Laboratories (Abbott) announced that its Board of Directors has approved a new share repurchase program of up to $3 billion of the corporation's common stock. The new share repurchase program replaces the previous $5 billion program, which was announced in October 2008, and was recently completed. The purchases may be made from time to time, subject to market conditions and regulatory considerations. On the same day, Abbott's Board of Directors also declared a quarterly common dividend of $0.14 per share, payable on August 15, 2013, to shareholders of record at the close of business on July 15, 2013. The Full Research Report on Abbott Laboratories - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/0bcf_ABT]
PAREXEL International Corporation Research Report
On June 13, 2013, PAREXEL International Corporation (PAREXEL) announced that Ingo Bank has been appointed as the Company's Senior Vice President and will become Chief Financial Officer on September 1, 2013, after fiscal year-end audited financial statements have been filed. He will join PAREXEL on July 8, 2013 after serving as Chief Financial Officer and Executive Vice President of Philips Healthcare, a Royal Philips company. Banks will succeed outgoing Chief Financial Officer James F. Winschel Jr., who will remain at the Company as Senior Vice President and Chief Financial Officer until September 1, 2013, after which he will serve as Executive Vice President until his planned retirement in 2014.The Full Research Report on PAREXEL International Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/037f_PRXL]
PDL BioPharma Inc. Research Report
On June 11, 2013, PDL BioPharma Inc. (PDL BioPharma) announced its royalty revenue guidance for Q2 2013 (period ending June 30, 2013). The Company expects royalty revenue of approximately $143 million, as compared to royalty revenue of $126 million in Q2 2012. The Company stated that the projected growth is driven by increased Q1 2013 sales for all licensed products for which PDL BioPharma receives royalties in Q2 2013. According to PDL BioPharma, worldwide sales of Avastin increased approximately 8% YoY in Q1 2013, and ex-U.S. manufactured and sold Avastin's Q1 2013 sales represented 46% of total Avastin sales, as compared to 20% in Q1 2012. Worldwide sales of Herceptin increased approximately 7% YoY in Q1 2013, and ex-U.S. manufactured and sold Herceptin's Q1 2013 sales represented 34% of total Herceptin sales, as compared to 41% in Q1 2012. Worldwide sales for Lucentis increased approximately 8% YoY, with all sales coming from inventory produced in the US. Lastly, worldwide sales for Tysabri, a Biogen Idec product, increased approximately 12% YoY in Q1 2013. Tysabri royalties are determined at a flat rate as a percentage of sales regardless of location of manufacture or sale. Avastin, Herceptin, Lucentis, Xolair, Perjeta, and Kadcyla (the Genentech Products) are subject to a tiered royalty rate for product that is made or sold in the US and a flat royalty rate of 3% for product that is manufactured outside of the US (ex-US manufactured and sold). The Full Research Report on PDL BioPharma Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/0666_PDLI]
Health Net, Inc. Research Report
On June 18, 2013, Health Net Foundation, Inc.'s (Health Net) charitable foundation announced that it will provide a $200,000 grant to the Southern California Education Fund (SCEF). This grant is intended to help the organization launch a pilot program in the San Fernando and San Gabriel valleys, called Connecting Families to Health Coverage and Care. The program involves trained volunteer leaders in schools, places of worship, and community groups, who will help enroll individuals and their family members into health care coverage.The Full Research Report on Health Net, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/6f92_HNT]
Molina Healthcare, Inc. Research Report
On June 17, 2013, Molina Healthcare, Inc. (Molina Healthcare) announced that through its wholly-owned subsidiary, Molina Center LLC, the Company has successfully completed a sale and lease back transaction with the dedicated net lease group of Angelo, Gordon & Co (AG) for $158 million. Under the terms of the transaction, Molina Healthcare sold to AG its principal executive offices in Long Beach, California, as well as an office building in Columbus, Ohio, that houses the principal health plan operations of Molina Healthcare of Ohio, the Company's wholly-owned subsidiary. Commenting on the sale, J. Mario Molina, M.D., Chief Executive Officer of Molina Healthcare, said, "Consistent with our long-term capital plan, this transaction unlocks additional capital, allowing Molina Healthcare to fund future growth initiatives while remaining committed to our mission of serving low-income families and individuals." The Full Research Report on Molina Healthcare, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/105d_MOH]
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SOURCE Wall Street Reports