Dow Notches a Bit Lower, First Lower Low in Ten Days

How horrible is this notch lower of 20 points? Some of us are on vacation, well deserving of a notch higher, yet here the market is, ingloriously, heading down. Quite frankly, it makes me sick.

Speaking of which, it looks like VRX is making a comeback. They just reported decent earnings and their top drug is growing again.

Says have satisfied Senate and House committee inquiries.

Stabilizing dermatology prices; have downsized to cut costs; working with WAG on product sales.

Had inspection of Tampa facility which is being inspected by the FDA; says yesterday was first feedback from FDA and talking to them about progress being made to ease concerns; Have a new head of quality on site at Tampa facility; taking steps it believes will solve issues.

Salix had volume and price.

Have cleared up a number of legacy litigation issues; will continue to focus ion cleansing the next three months.

Not providing EBITDA guidance for 2018 at this point; Says divestitures and LOEs will need to be taken into account, both will be a growth drag on 2018; Hope that LOEs continue to get pushed out and gain more revenue and cash flow in 2018; When lose exclusivity it will certainly be a drag but those will go away in 2018 so tells analysts to keep that in the back of their head.

Their stomach medicine, Xifaxan, grew by a genteel 17% for the quarter. Moreover, the company intends to pay down $5b in debt, ahead of schedule.

“We are delivering on our promises and making tangible progress towards a turnaround,” Chief Executive Officer Joe Papa said on a call with investors Tuesday after the company released second-quarter results.

Now with Bill Ackman out of the way, perhaps they stand a chance and can make a real comeback?

I have to head out this morning, run a few errands, partake in a few chicaneries. Feel free to gloss over the site, as you normally do, and click around. Make yourselves at home, minus the hovel styled mess.