Chemical and advanced materials maker, Celanese Corporation (CE - Analyst Report) announced that it will showcase its innovative drug delivery applications of ethylene vinyl acetate (EVA) at the 2016 CPhI Worldwide Conference to be held in Barcelona, Spain during Oct 4-6.
Celanese will feature its VitalDose EVA product in emerging pharmaceutical drug delivery applications, including implants for treatment of eye disease, retroviral infection, addiction, and other novel applications.
The company will showcase how VitalDose EVA can be used as a proven, safe and reliable controlled release excipient to solve fundamental drug delivery problems including patient compliance and frequency of dosage.
Controlled-release drug delivery presents significant challenges to developers and formulators, such as drug loading, device size, and long-term sustained drug. VitalDose EVA which is a controlled release excipient provides a safe and effective controlled release solution and is expanding design possibilities for its customers with its customizable drug release properties. It is developed for a number of pharmaceutical products with different routes of administration, including ophthalmic, intraoral, intravaginal, subcutaneous and transdermal.
The company’s shares went up 1.4% to close at $66.56 on Sep 30.
Celanese kept its earnings streak alive with a beat in second-quarter 2016. The company reported adjusted earnings of $1.59 per share in the quarter. The figure was a penny higher than the prior-year quarter tally and above the Zacks Consensus Estimate of $1.55.
The company reported quarterly sales of $1,351 million, missing the Zacks Consensus Estimate of $1,418 million. The top line declined roughly 8.5% year over year.
Celanese’s strategic measures including productivity and efficiency improvement actions should lend support to its earnings in 2016. The company should also gain from capacity expansion and growth initiatives in the emerging regions. However, Celanese is exposed to pricing pressure and is still witnessing soft acetyl demand in China given the sluggish economic conditions. Acetyl intermediates margins are anticipated to remain strained in the near term.
Celanese currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the chemical space include Innophos Holdings Inc. (IPHS - Snapshot Report) , Innospec Inc. (IOSP - Snapshot Report) and The Chemours Company (CC - Snapshot Report) .
Innophos Holdings sports a Zacks Rank #1 (Strong Buy). The company has expected earnings growth of 48.6% for the current year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Innospec also sports a Zacks Rank #1 and has posted positive earnings surprises in the trailing four quarters.
Chemours is a Zacks Rank #2 (Buy) stock with an expected earnings growth of 7.6% for the current year.
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