In two recent earlier separate posts, I addressed the 4Q 2011 earnings of the US Big 6 Pharma Sector and the US Big Health Insurance Sector. In all fairness, the US Congress should be bending the US health care cost curve further, and by quite a bit further, by addressing the out-sized profits which both of these health care sectors have been blessed with.
In this post, I am addressing the remainder of the US Health Care Industry. Altogether, there are 44 of these Health Care Corps in Other Health Care sub-sectors, with earnings of at least $100 mil each in either the 4Q 2011 or 4Q 2010, which have already released their 4Q 2011 earnings. There is one additional Health Care Corps, which probably will reach the earnings threshold here (Kinetic Concepts). It hasn't released its December 2011 quarter earnings yet, and thus wasn't included below.
These 44 US Other Health Care Corps registered a Total Pretax Earnings increase of a very nice 12% in the 4Q 2011 over the prior year's quarter.
Clearly, the Affordable Health Care Plan has helped immensely the earnings of the vast majority of the large health care companies. And when more of its provisions later kick in, the earnings of these large health care companies will be helped much more.....by leaps and bounds.
Below here are these 4Q 2011 Pretax Earnings (PTI), along with a comparison with the prior year’s 4Q 2010 amounts, for these 44 Big US Other Health Care Corps, sorted by Health Care Sub-Sector.
.......................................................................Increase
............................................PTI.......PTI.......(Decrease)
.............................................4Q.........4Q..................
...........................................2011......2010....Amount....%
.............................................(millions of dollars)
Other Large Drug Corps
Celgene...............................402.........222.......180.....81%
Allergan..............................384.........333.........51.....15%
Forest Labs.........................359.........391........(32)....-8%
Vertex Pharma....................211........(180).......391...217%
Watson Pharma(1)...............175.........103.........72.....70%
Endo Pharma(2)..................152.........105.........47.....45%
Mylan Labs(3).....................149..........111.........38.....34%
Perrigo...............................144..........122.........22.....18%
Warner Chilcott..................127...........60.........67....112%
Total all 9........................2,103.......1,267.......836....66%
Hospitals and Health Services
HCA(4)..............................787.........564.......223.....40%
DaVita(5)...........................269.........202.........67.....33%
Universal Health Svcs(5A).163.........120..........43.....36%
Community Health Syst(6).134.........133............1........1%
Total all 4........................1,353......1,019........334.....33%
Retail Drugs & Proprietary Stores
CVS Caremark.................1,810......1,625........185.....11%
Walgreens..........................883.........921........(38)....-4%
Medco Health Solutions.....674.........607.........67.....11%
Express Scripts..................464.........518........(54)...-10%
Total all 4........................3,831......3,671........160......4%
Biological Products
Amgen(7).......................1,051.......1,117........(66)....-6%
Gilead Sciences..................819.........800..........19......2%
Biogen IDEC......................405..........351..........54.....15%
Life Technologies...............184...........77........107...139%
Total all 4........................2,459......2,345........114......5%
Surgical & Medical Instruments
Covidien Ltd.......................593.........515.........78.....15%
Baxter................................548.........467.........81.....17%
Stryker(8)..........................433.........503........(70)...-14%
Becton Dickinson................344........408........(64)...-16%
CR Bard(9)..........................193.........177.........16.......9%
Boston Scientific(10)..........148.........125..........23.....18%
CareFusion.........................126.........102..........24.....24%
Total all 7........................2,385......2,297.........88.......4%
ElectroMedical Apparatus
Medtronic(11).................1,053.......1,031.........22......2%
St Jude Medical(12)............239.........251........(12)....-5%
Varian Medical Systems......129.........137.........(8)....-6%
Total all 3.........................1,421......1,419...........2......0%
Drug Wholesalers
McKesson(13)....................453.........450...........3.......1%
Cardinal Health..................426.........328.........98.....30%
AmerisourceBergen...........262.........259...........3.......1%
Total all 3.........................1,141.....1,037........104.....10%
Orthopedic Prosthetic Appliances
Zimmer Holdings(14).........297.........314........(17)....-5%
Intuitive Surgical...............203.........157.........46.....29%
Total all 2...........................500.........471.........29......6%
Medical Research
Quest Diagnostics...............292.........267.........25......9%
Lab Corp America..............225.........216............9......4%
Total all 2...........................517.........483.........34......7%
Lab Analytical Instruments
Waters Corp.......................159.........145..........14.....10%
Mettler Toledo...................118.........110............8......7%
Total all 2..........................277.........255..........22......9%
Miscellaneous
Henry Schein.....................160.........138.........22.....16%
Cerner...............................140.........104.........36.....35%
Herbalife Ltd......................136.........105.........31.....30%
Weight Watchers................101...........78.........23.....29%
Total all 4..........................537.........425........112.....26%
Total all 44....................16,524....14,689.....1,835.....12%
(1) Watson Pharmaceutical 2011 PTI excludes Asset Impairment Charge. Its 2010 PTI excludes Asset Impairment Charge and Special Litigation Settlement Charge.
(2) Endo Pharmaceuticals 2011 PTI excludes Asset Impairment Charge. Its 2010 PTI excludes Asset Impairment Charge and Gain on Contingent Consideration related to an Acquisition.
(3) Mylan Labs PTI in both years exclude Special Litigation Settlement Charges.
(4) HCA 2011 PTI excludes Gain on Acquisition of Controlling Interest in an Equity Investment and Gains on Sales of Facilities.
(5) DaVita 2010 PTI excludes Debt Refinance Charges.
(5A) Universal Health Services 2010 PTI excludes Acquisition Transaction Cost Charge.
(6) Community Health Systems 2011 PTI excludes Loss on Debt Extinguishment.
(7) Amgen 2010 PTI excludes Asset Impairment Charge.
(8) Stryker 2010 PTI excludes Asset Impairment Charge.
(9) CR Bard 2011 PTI excludes Special Legal Settlement Charge.
(10) Boston Scientific 2011 PTI excludes Special Litigation Settlement Charge. Its 2010 PTI excludes Special Litigation Settlement Credit.
(11) Medtronic 2010 PTI excludes Special Litigation Charge.
(12) St Jude Medical 2011 PTI excludes Intangible Asset Impairment Charge.
(13) McKesson PTI in both years exclude Special Litigation Charges.
(14) Zimmer Holdings 2011 PTI excludes Durom Claims Charge. Its 2010 PTI excludes Goodwill Impairment Charge.
