Chemical and advanced materials maker – Celanese Corporation CE, announced that it will exhibit, “Driving Ophthalmic Drug Delivery Innovation with EVA” on Sep 20 at the 2016 Targeting Ocular Disorders Conference in Boston, MA.
Celanese is working with its customers to make state-of-the-art drug delivery systems using the pharmaceutical material solutions of its EVA polymers business. The Celanese EVA polymers business’ broad medical and pharmaceutical polymer portfolio aids in making comfortable and easy-to-use drug delivery devices and implants. The business has come up with innovations in its EVA polymer portfolio that create broader device and implant design options to cater to the changing drug delivery needs.
At the presentation, Celanese will highlight the product called VitalDose EVA which is a controlled-release excipient ideal for use in pharmaceutical drug delivery implants that require a consistent release of active ingredients. VitalDose EVA polymers may be used standalone or in combination with other excipients and/or additives to achieve desired release-rate profiles. The presentation will feature how VitalDose EVA polymers can cater to the needs of the patient in ophthalmic drug delivery, mainly patient compliance, drug dosing and sustained drug release to various parts of the eye.
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.
Celanese 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.
The company noted that recent events have added further uncertainties to economic growth expectations. However, it projects a relatively stable economic landscape across the U.S. and Europe for the rest of 2016. The company’s Materials Solutions unit provides the best package of global presence, product portfolio and applications expertise in the industry, along with a rigorous pipeline process. This enables it to provide value to its customers and in turn, boost earnings at business.
Celanese, however, 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 carries a Zacks Rank #4 (Sell).
Better-ranked companies in the chemical space include Innophos Holdings Inc IPHS, Innospec Inc. IOSP and Stepan Company SCL, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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