Danaher Reports Second Quarter 2021 Results

On July 22, 2021 Danaher Corporation (NYSE: DHR) (the "Company") reported results for the second quarter 2021 (Press release, Danaher, JUL 22, 2021, View Source [SID1234585114]). All results in this release reflect only continuing operations unless otherwise noted.

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For the quarter ended July 2, 2021, net earnings were $1.7 billion, or $2.28 per diluted common share which represents an 84.0% year-over-year increase from the comparable 2020 period. Non-GAAP adjusted diluted net earnings per common share were $2.46 which represents a 71.0% increase over the comparable 2020 period.

Revenues increased 36.5% year-over-year to $7.2 billion, with 31.5% non-GAAP core revenue growth.

Operating cash flow for the second quarter was $2.1 billion, representing a 46.5% increase year-over-year, and non-GAAP free cash flow was $1.8 billion, representing a 41.0% increase year-over-year.

For the third quarter 2021, the Company anticipates that non-GAAP core revenue growth will be in the mid- to high-teens percent range.

For the full year 2021, the Company now anticipates that the non-GAAP core revenue growth rate including Cytiva will be approximately 20%.

Rainer M. Blair, President and Chief Executive Officer, stated, "Broad-based strength across the portfolio helped us deliver over 30% core revenue growth and outstanding earnings per share growth and cash flow generation. We continued to make significant growth investments during the quarter, strengthening our organic growth trajectory and enhancing our portfolio with the announcement of our pending acquisition of Aldevron."

Blair continued, "We believe the combination of our leading portfolio and DBS-driven execution differentiates Danaher today and provides a strong foundation for sustainable, long-term outperformance."

Danaher will discuss its results during its quarterly investor conference call today starting at 8:00 a.m. ET. The call and an accompanying slide presentation will be webcast on the "Investors" section of Danaher’s website, www.danaher.com, under the subheading "Events & Presentations." A replay of the webcast will be available in the same section of Danaher’s website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.

The conference call can be accessed by dialing 866-503-8675 within the U.S. or by dialing +1-786-815-8792 outside the U.S. a few minutes before the 8:00 a.m. ET start and telling the operator that you are dialing in for Danaher’s earnings conference call (access code 5932469). A replay of the conference call will be available shortly after the conclusion of the call and until August 5, 2021. You can access the replay dial-in information on the "Investors" section of Danaher’s website under the subheading "Events & Presentations." In addition, presentation materials relating to Danaher’s results have been posted to the "Investors" section of Danaher’s website under the subheading "Quarterly Earnings."

Eiger BioPharmaceuticals to Host Conference Call for Second Quarter 2021 Financial Results and Business Update on Thursday, August 5

On July 22, 2021 Eiger BioPharmaceuticals, Inc. (Nasdaq: EIGR), a commercial-stage biopharmaceutical company focused on the development and commercialization of targeted therapies for serious rare and ultra-rare diseases, reported that it will host a conference call on Thursday, August 5, 2021 at 4:30 PM ET to discuss its financial results and provide a business update for the second quarter 2021 (Press release, Eiger Biopharmaceuticals, JUL 22, 2021, https://www.prnewswire.com/news-releases/eiger-biopharmaceuticals-to-host-conference-call-for-second-quarter-2021-financial-results-and-business-update-on-thursday-august-5-301339797.html [SID1234585113]).

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The live and replayed webcast of the call will be available through the company’s website at www.eigerbio.com. To participate in the live call by phone, dial (844) 743-2495 (U.S.) or (661) 378-9529 (International) and enter conference ID 9482721. The webcast will be archived and available for replay for at least 90 days after the event.

Lantern Pharma to Host Second Quarter 2021 Operating and Financial Results Conference Call on Thursday, July 29, 2021 at 4:30 p.m. ET

On July 22, 2021 Lantern Pharma (NASDAQ: LTRN), a clinical stage biopharmaceutical company using its proprietary RADR artificial intelligence ("A.I.") platform to improve drug discovery and development, and identify patients who will benefit from its portfolio of targeted oncology therapeutics, reported that it will host a conference call and live webcast on Thursday, July 29, 2021 at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time to discuss financial and operating results for the second quarter ended June 30, 2021 (Press release, Lantern Pharma, JUL 22, 2021, View Source [SID1234585112]). The call will be led by Panna Sharma, President and Chief Executive Officer. He will be joined on the call by other members of the management team.

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Conference Call
Toll-free US and Canada: 800–791–4813 – conference ID# 20284
International: 785–424–1102 – conference ID# 20284
Replay Number: 1-800-839–5642, no passcode. Available through 11:59 pm ET on August 29, 2021.

Webcast
Live webcast will be available at: Lantern Pharma 2Q21 Earnings Call Webcast

The webcast will be archived on View Source through 11:59 pm ET on August 29, 2021.

National Comprehensive Cancer Network® Adds Newly Approved Rylaze™ (asparaginase erwinia chrysanthemi (recombinant)-rywn) to Clinical Practice Guidelines in Oncology for Acute Lymphoblastic Leukemia

On July 22, 2021 Jazz Pharmaceuticals plc (Nasdaq: JAZZ) reported that the National Comprehensive Cancer Network (NCCN) added Rylaze (asparaginase erwinia chrysanthemi (recombinant)-rywn) to the Clinical Practice Guidelines in Oncology (NCCN Guidelines) for Acute Lymphoblastic Leukemia (ALL), for both pediatric and adult patients (Press release, Jazz Pharmaceuticals, JUL 22, 2021, View Source [SID1234585111]).

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The NCCN Guidelines for ALL and the NCCN Guidelines for Pediatric ALL now include asparaginase erwinia chrysanthemi (recombinant)-rywn as a treatment option for patients with hypersensitivity to E. coli asparaginase products as a component of the multi-agent chemotherapeutic regimen to complete the full treatment course.

"Asparaginase is a core component of chemotherapeutic regimens in ALL and lymphoblastic lymphoma; however, treatments derived from E. coli are associated with the potential for hypersensitivity reactions, which can affect a substantial number of these patients," said Rob Iannone, M.D., M.S.C.E., executive vice president, research and development and chief medical officer at Jazz Pharmaceuticals. "Before the FDA approval of Rylaze, there was a significant need for an effective and reliable supply of asparaginase medicine that would allow patients the opportunity to start and complete their prescribed treatment program with confidence. We are pleased by the NCCN’s decision to quickly incorporate Rylaze into the Clinical Practice Guidelines for ALL."

Rylaze was approved by the U.S. Food and Drug Administration (FDA) on June 30, 2021 for use as a component of a multi-agent chemotherapeutic regimen given by intramuscular injection for the treatment of ALL and lymphoblastic lymphoma (LBL) in adult and pediatric patients 1 month or older who have developed hypersensitivity to E. coli-derived asparaginase.1 The approval followed review of a Biologics Licensing Application under the FDA’s Real-Time Oncology Review program, and it was based on clinical data from a pivotal Phase 2/3 trial conducted in collaboration with the Children’s Oncology Group.

The NCCN Guidelines play a pivotal role in decision-making processes for individuals involved in cancer care all over the world, including physicians, nurses, pharmacists, payers, and patients and their families. The guidelines present expert recommendations for cancer screening, diagnosis and treatment, as well as cancer care options that may increase the chances of favorable outcomes for patients.

The NCCN is a not-for-profit alliance of 30 leading U.S. cancer centers devoted to patient care, research and education that aims to facilitate quality, effective, efficient and accessible care so that patients can live better lives.

About Rylaze (asparaginase erwinia chrysanthemi (recombinant)-rywn)
Rylaze, also known as JZP458, is approved in the U.S. for use as a component of a multi-agent chemotherapeutic regimen for the treatment of acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma (LBL) in adult and pediatric patients 1 month or older who have developed hypersensitivity to E. coli-derived asparaginase. Rylaze has orphan drug designation for the treatment of ALL/LBL in the United States. Rylaze is a recombinant erwinia asparaginase that uses a novel Pseudomonas fluorescens expression platform. JZP458 was granted Fast Track designation by the U.S. Food and Drug Administration (FDA) in October 2019 for the treatment of this patient population. Rylaze was approved as part of the Real-Time Oncology Review program, an initiative of the FDA’s Oncology Center of Excellence designed for efficient delivery of safe and effective cancer treatments to patients.

The full U.S. Prescribing Information for Rylaze is available at: <View Source>

Important Safety Information

RYLAZE should not be given to people who have had:

Serious allergic reactions to RYLAZE
Serious swelling of the pancreas (stomach pain), serious blood clots, or serious bleeding during previous asparaginase treatment
RYLAZE may cause serious side effects, including:

Allergic reactions (a feeling of tightness in your throat, unusual swelling/redness in your throat and/or tongue, or trouble breathing), some of which may be life-threatening
Swelling of the pancreas (stomach pain)
Blood clots (may have a headache or pain in leg, arm, or chest)
Bleeding
Liver problems
Contact your doctor immediately if any of these side effects occur.

Some of the most common side effects with RYLAZE include: liver problems, nausea, bone and muscle pain, tiredness, infection, headache, fever, allergic reactions, fever with low white blood cell count, decreased appetite, mouth swelling (sometimes with sores), bleeding, and too much sugar in the blood.

RYLAZE can harm your unborn baby. Inform your doctor if you are pregnant, planning to become pregnant, or nursing. Females of reproductive potential should use effective contraception (other than oral contraceptives) during treatment and for 3 months following the final dose. Do not breastfeed while receiving RYLAZE and for 1 week after the final dose.

Tell your healthcare provider if there are any side effects that are bothersome or that do not go away.

These are not all the possible side effects of RYLAZE. For more information, ask your healthcare provider.

You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch, or call 1-800-FDA-1088 (1-800-332-1088).

About ALL
ALL is a cancer of the blood and bone marrow that can progress quickly if not treated.2 Leukemia is the most common cancer in children, and about three out of four of these cases are ALL.3 Although it is one of the most common cancers in children, ALL is among the most curable of the pediatric malignancies due to recent advancements in treatment.4,5 Adults can also develop ALL, and about four of every 10 cases of ALL diagnosed are in adults.6 The American Cancer Society estimates that almost 6,000 new cases of ALL will be diagnosed in the United States in 2021.6 Asparaginase is a core component of multi-agent chemotherapeutic regimens in ALL.7 However, asparaginase treatments derived from E. coli are associated with the potential for development of hypersensitivity reactions.8

About Lymphoblastic Lymphoma
LBL is a rare, fast-growing, aggressive subtype of Non-Hodgkin’s lymphoma, most often seen in teenagers and young adults.7 LBL is a very aggressive lymphoma – also called high-grade lymphoma – which means the lymphoma grows quickly with early spread to different parts of the body.9,10

Plexxikon Wins Patent Infringement Case Against Novartis

On July 22, 2021 Plexxikon, a member of the Daiichi Sankyo Group and a leader in structure-guided discovery and development of novel small molecule pharmaceuticals, reported that it has won its patent infringement lawsuit against Novartis (Press release, Plexxikon, JUL 22, 2021, View Source [SID1234585110]). In a jury trial at the U.S. District Court for the Northern District of California, Novartis conceded infringement and sought to invalidate Plexxikon’s patents covering Tafinlar on the grounds of anticipation, written description and enablement. The jury rejected Novartis’s arguments, upheld the validity of Plexxikon’s patents, and found Novartis’s infringement was willful. Plexxikon was awarded damages of $178 million for past infringement of its patents and will receive additional royalty payments for future sales of Tafinlar in the United States through the life of the patents.

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"We are delighted with the jury’s verdict which validates Plexxikon’s pioneering role in the field of BRAF inhibitors and enables proper credit for our proprietary discovery efforts," said Chao Zhang, PhD, chief executive officer. "Genus patents — like those in the lawsuit — are routinely used to prevent competitors from knocking off our scientific innovations with slight molecular changes. We are gratified that the jury upheld their validity, protecting our investment so that we can continue discovering and developing innovative new drugs for patients in need."

Tafinlar was developed by GSK and acquired by Novartis for $2.4B. Tafinlar is a BRAF inhibitor that is approved for the treatment of metastatic melanoma, adjuvant melanoma, non-small cell lung cancer and anaplastic thyroid cancer. Tafinlar also competes with Zelboraf, another BRAF inhibitor that was discovered by Plexxikon and licensed to Roche.

In the suit, Plexxikon alleged that Novartis owed the company substantial royalties on its drug Tafinlar, which infringes two Plexxikon patents (U.S. Patent Nos. 9,469,640; and 9,844,539).