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Baxalta (BXLT) Beats on Q1 Earnings, Revenues Rise Y/Y

Bannockburn, IL-based Baxalta Incorporated BXLT is a biopharmaceutical company focused on the development and commercialization of treatments targeting orphan diseases across three core therapeutic areas – hematology, immunology and oncology. Baxalta was formed following the spin-off from Baxter International Inc. and started trading on the NYSE from Jul 1, 2015.

Considering that Baxalta is set to merge with Shire in a deal worth approximately $32 billion, all focus would be on the deal apart from the usual top-and bottom-line numbers. The transaction is expected to close shortly.

In the fourth quarter of 2015, Baxalta posted a positive earnings surprise of 1.79%. The average earnings surprise over the last three reported quarters is a negative 0.51%.

Currently, Baxalta has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Baxalta beat on first-quarter 2016 earnings by a penny. The company reported EPS of 47 cents while our consensus called for EPS of 46 cents.

Revenues: Revenues came in at $1.5 billion in the first quarter of 2016, reflecting a year over year increase of 10%.

Key Stats: Baxalta’s Hematology and Immunology segments continued to perform well in the first quarter of 2016. Existing products like Advate, Feiba and HyQvia and newly launched product Adynovate continued to contribute to top-line growth. Rixubis and Obizur also aided revenues. The company has also started reporting revenues under the Oncology segment beginning the third quarter of 2015.

Check back later for our full write up on this Baxalta’s earnings report later!

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