Corning Incorporated (GLW - Free Report) recently announced that an unnamed leading pharmaceutical manufacturer has secured green signal from Food and Drug Administration (“FDA”) for its pharmaceutical packaging technology — Valor Glass. The approval for the pioneering technology reinforces Corning’s commitment to provide reliable packaging standards for pharmaceutical applications essential to public health.
Valor Glass is reportedly the sole glass composition to be approved by the FDA since the emergence of borosilicate glass. Leveraging Corning’s in-depth knowhow and expertise in glass science for developing category-defining products, Valor Glass enhances the storage and delivery of drugs. The unique packaging technology is chemically durable with uniform surface chemistry, averts cracks, resists damage and breakage, and reduces glass particulate generation, thereby enabling quality assurance coupled with smooth flow of operations.
With strong customer relationships and track record of more than 165 years of trailblazing innovation efforts, this technology is regarded to be a major milestone to create a new standard in pharmaceutical glass packaging, which can be beneficial for all — patients, industry and Corning.
Corning, a leading innovator in the glass substrate industry, is well positioned to drive its business across markets with increasing traction of technologies such as Lotus NXT Glass, Gorilla Glass, Augmented Reality Precision Glass Solutions and Iris Glass in smart devices. It is likely to benefit from the commercialization of innovative technologies that have been formulated to align with key industry trends.
The company’s fusion technology reduces glass thickness, enabling panel manufacturers to do away with costs that are usually necessary for making slimmer, lighter and more power efficient consumer devices. In addition, the substrate composition makes it particularly eco-friendly and thus more easily acceptable to all.
Corning continues to be a leader in the display, mobile consumer electronics and automotive markets, which better positions it to deliver advanced technical glass solutions and an extensive partner ecosystem to its auto glass customers.
Corning has long-term earnings growth expectation of 9%. Driven by diligent execution of operational plans, the stock has recorded an average return of 1% compared with the industry’s rise of 25.3% in the year-to-date period.
Zacks Rank & Stocks to Consider
Corning currently has a Zacks Rank #4 (Sell). Few better-ranked stocks in the same space are Viavi Solutions Inc. (VIAV - Free Report) , Harmonic Inc. (HLIT - Free Report) and Vocera Communications, Inc. (VCRA - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Viavi exceeded estimates in each of the trailing four quarters, the average earnings surprise being 14.5%.
Harmonic outpaced estimates in each of the preceding four quarters, the average earnings surprise being 119.9%.
Vocera surpassed estimates in each of the trailing four quarters, the average positive earnings surprise being 210%.
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