Shares of Aurora Cannabis Inc. dropped almost -10% during after-hours trading Wednesday, after the company reported  net revenue that fell short of its previously lowered guidance. The Canadian cannabis company’s fiscal fourth-quarter consolidated net revenue increased +52% from the previous quarter to C$98.9 million – lower than the C$100 million to C$107 million guidance the company had provided offered last month.  Aurora’s adjusted EBITDA loss was -C$11.7 million. In a separate filing, Aurora said that its net loss attributable to common shareholders was less than -C$200,000, and less than a penny a share, with the rest of the losses attributed to two subsidiaries’ non-controlling interests. Aurora mentioned that it is working closely with all regulatory and channel partners to streamline distribution, amidst challenges facing the Canadian consumer channel at the retail level in its key markets.

Tilray  shares climbed on Tuesday, following a re-iteration of a rating from Cowen & Co. Analysts at Cowen & Co. affirmed their outperform rating on the cannabis company.However, they also reduced their price target to $60 a share from $150. Tilray is facing headwinds in the form of weak industry supply, the company being substantially dependent on third parties - as indicated by analyst Vivien Azer. Nevertheless, the company is trying to mitigate the challenges by acquisitions (such as the Natura Naturals purchase) and expansions of its current facilities. Azer suggested that Tilray is well-positioned for multiple entry points into the U.S. , as well as benefit from international markets as it awaits final GMP certifications on its Portuguese license.

However, the adjusted EPS was just under -1% from the year-ago quarter. Total revenues declined -0.8% to $4.09 billion, but beat analysts' estimates of $3.93 billion. CEO Brent Saunders emphasized that Allergan delivered steady growth in key products including Botox, Vraylar and Ozurdex. Looking ahead, Allergan expects its net non-GAAP revenues of $15.4 billion to $15.6 billion for the full-year 2019, up from $15.1 billion to $15.4 billion.It maintained its forecast of non-GAAP earnings of around $16.55 per share.  In late June, AbbVie announced that it will pay $188.24 each in cash and shares for Allergan's outstanding common stock, representing a 45% premium to the group's closing price on June 24.

Cronos Group (Nasdaq: CRON) is a rather unique company.Cannabis investing has been a prominent storyline over the last few years and that has helped the stock move up sharply in the last two years. Despite the rally, the stock has been trending lower in the last four and a half months.

Teva Pharmaceutical has agreed to pay an $85 million settlement with the state of Oklahoma.The announcement comes just before the company was going to face trial over allegations that it and other drugmakers helped fuel the U.S. opioid epidemic.  Teva, the world’s largest generic drugmaker, said the settlement “does not establish any wrongdoing on the part of the company” and denied contributing to opioid abuse in Oklahoma. Claims against Teva focused on the branded opioid products Actiq and Fentora as well as generic painkillers it produced.

Teva Pharmaceutical Industries fell more than 9% Monday morning in reaction to a lawsuit filed by 44 states. Teva, along with other global drug companies, is accused of conspiring to inflate the prices of their generic therapies by as much as 1,000%, according to the lawsuit filed last Friday.The allegations include drug companies and their executives were not only involved in a price-fixing scheme, but were aware their alleged actions were illegal.

Teva Pharmaceutical Industries Limited reported first-quarter 2019 earnings of 60 cents per share, which beat the Zacks Consensus Estimate of 58 cents.Earnings per share declined 36% year over year due to lower sales and operating income. Read more...

On Oct. 17, 2018, Canada made history by becoming the first G7 country and the second country overall to legalize adult-use cannabis. Read More...

Cronos Group's stock  traded lower on Tuesday, after the company reported its latest results. The cannabis company reported revenue of C$5.6 million ($4.2 million) for the fourth quarter, up from $1.6 million a year ago. Its gross profit before fair value adjustments came in at C$2.5 million for the quarter. For the full year, Cronos had a loss of -11 cents per share, compared to a profit of 1 cent a year earlier.Its full-year revenue of $15.7 million was higher than the previous year’s $4.1 million. Mike Gorenstein, CEO of Cronos Group highlighted the company’s expanding presence in domestic and international markets, and its launch of iconic brands for the Canadian adult-use market.

Allergan plc says the FDA has approved a label expansion of its anti-infective drug, Avycaz, in pediatric patients.The drug is now approved as monotherapy for complicated urinary tract infections (cUTI), and in combination with metronidazole for complicated intra-abdominal infections (cIAI). This is the first drug to receive approval for pediatric patients with cUTI or cIAI in more than a decade. The drug is already approved in adult patients with similar indications.So far this year, Allergan’s shares have outperformed the industry.

Tilray Inc. experienced a loss for the fourth quarter, but had blockbuster growth in sales - thanks to a burgeoning medical marijuana market. The Canadian pharmaceutical and marijuana company incurred a net loss of -33 cents per share for the three months ending in December, compared to a 4 cents per share profit from the same period in 2017.According to Tilray, the number of kilograms of cannabis and derivative products increased nearly three-fold to 2,053, from 694 kilograms of the year-ago quarter. Sales for the full-year 2018 surged +110% to $43.1 million. Tilray felt a downward pressure on its fourth quarter gross margins, which at 20% were nearly a third the rate of the previous period.

Earlier this week, Anderson Economic Group released its 2019 benchmarked AndCan Index, which uses a new, improved methodology.The 2019 index shows that consumer demand for cannabis products has been increasing much faster than previously recognized. READ MORE...

Allergan plc issued a statement in response to a letter from one of its public shareholders, Appaloosa, disagreeing with the latter’s request of a separation of Chief Executive Officer (“CEO”) and Chairman roles, both currently held by Brent Saunders. Read more...

Aurora Cannabis said its net revenue grew to C$54.2 million in its fiscal second quarter as the producer's sales accounted for 20 per cent of all marijuana sold across Canada since the drug was legalized in October. "The Canadian consumer market provides an extremely good opportunity for us.Consumer response to the legalization of cannabis has been strong," Cameron Battley, chief corporate officer, said in a conference call after markets closed. Net revenue for the three months ended Dec. 31 increased from C$11.7 million in the second quarter of 2017. The increase was driven by $21.6 million in consumer sales in Canada and C$26 million in Canadian and international medical marijuana sales.

Ahead of its earnings after the closing bell, cannabis-producer Aurora says it has shipped a batch of cannabis oil to the U.K. The company also says that it was one of the first Canadian licensed pot producers to export product to the U.K., which allows specialist doctors to issue prescriptions for cannabis-based medicine. Closer to home, Aurora and competitor Canopy have established a complex scheme that gives them the ability to acquire a majority stake in several U.S. companies that they once owned, should the federal government legalize marijuana.

Bloomberg reports that cannabis retailer Green Growth Brands Inc. is looking to buy Canada-based Aphria Inc. for about $1.8 billion, less than a month after the Canadian company rejected the bid. Green Growth hasn't changed its terms since the first bid in December offering 1.57 Green Growth shares per Aphria share. “The combination of Aphria’s Canadian supply and wholesale agreements with Green Growth’s vertically integrated operations and rapidly growing retail footprint in the United States best positions us to capitalize on the massive growth opportunities in North America and beyond,” Peter Horvath, chief executive officer of Green Growth said in a statement Tuesday.However, in a statement late Tuesday, Aphria urged shareholders to take no action until the board makes a formal recommendation.

HEXO Corp, which announced a joint venture with Molson Coors Canada last summer on the development of cannabis-infused beverages for the Canadian market, will begin trading on the New York Stock Exchange on January 23. Canada’s fifth-largest cannabis company by market capitalization has tended to fly below investors’ radar compared to larger rivals like Canopy Growth Corp., Aurora Cannabis Inc. and Tilray Inc. 

According to Investor Business Daily’s Relative Strength rating, Teva’s stock price has appreciated more than 94% of the stocks in its database over the past year.If the pattern plays out the same way and drops over 19% again, the stock would be under $19.50 this time around. The fundamentals for Teva are also a factor as the company has lagged in its earnings and sales growth.