12/27/2023 0 Comments Stockpile app forumThe company reported cash, cash equivalents, and marketable securities of $18.1 billion as of the end of the second quarter. 1 healthcare company in the world by market cap, but it comes in at No. Bradway also hinted at the possibility of deals, saying that there is "potential for doing some attractive business development." So far this year, though, Amgen hasn't made any acquisitions - probably because of the high valuations in the industry. The company ended the first quarter with $32.2 billion.Īmgen CEO Bob Bradway stated earlier this year that returning capital to shareholders through buybacks and dividends remains a top priority for the company. Amgen reported cash, cash equivalents, and marketable securities totaling nearly $29.4 billion as of the end of June. AmgenĪnother big biotech isn't too far behind Gilead. When asked about business development in the biotech's Q2 earnings conference call, CEO John Milligan said that "you'll see many things coming to fruition in the second half of this year." Even though Milligan is stepping down at the end of the year, he stated that his departure shouldn't slow down efforts to make deals. I think that we'll see some acquisitions activity with Gilead in the near future. However, I expect that Gilead won't use as much cash as it has in the past to repurchase shares. Investors can probably count on Gilead to keep boosting its dividend in the future by around 10% annually, as it has since the company initiated the dividend program in 2015. Gilead should be able to grow its cash stockpile, though, with continued strong cash flow provided by its HIV and hepatitis C virus (HCV) franchises. The biotech dipped into its cash reserves to pay its dividend and buy back shares. However, Gilead used most of that amount on tax-related payments. The company generated $1.6 billion in operating cash flow in the second quarter. That was down from $32.1 billion at the end of the previous quarter. As of June 30, 2018, the big biotech reported cash, cash equivalents, and marketable securities totaling $31.7 billion. Gilead Sciences claims the most cash of any drugmaker. Month-on-month, LPG demand was up 8 per cent compared to 2.28 million tonne of LPG consumption during June, the data showed.Man in a boat made from money on a sea of cash LPG consumption was 4 per cent higher than in July 2021 and 11.7 per cent more than pre-COVID July 2019. The country's oil demand during the last few months was supported by strong industrial activity, industry officials said.Ĭooking gas LPG sales were down 1.7 per cent year-on-year to 2.46 million tonne in July. Month-on-month jet fuel sales was up 1.6 per cent when compared with 594,100 tonne in June 2023. It was more than double that of July 2021, but 2.9 per cent lower than pre-COVID July 2019. With the continuing rise in passenger traffic at airports, jet fuel (ATF) demand rose 10.3 per cent to 603,500 tonne during July as compared to the same period last year. Diesel consumption was up 12.8 per cent over July 2021 but almost flat when compared with July 2019. For the year, India's oil demand is forecast at 0.2 million barrels per day year-on-year, according to oil cartel OPEC's monthly oil bulletin.Ĭonsumption of petrol during July was 16.6 per cent more than in COVID-marred July 2021 and 20.8 per cent more than in pre-pandemic July 2019. This led to petrol and diesel sales rising since the second half of March. Both the manufacturing and services sectors in India have been in expansion territory to support oil demand for over one year. Sales were down 4.6 per cent month-on-month, the data showed. Consumption had dropped 10.5 per cent in the first fortnight of July but picked up in the latter half. Petrol sales however rose 3.8 per cent to 2.76 million tonne in July when compared with the same period last year. Month-on-month sales fell 13.7 per cent, when compared with 7.13 million tonne of diesel consumed in June. It started to taper in the second half of June after the monsoon set in. Also, rains slow vehicular movements.Ĭonsumption of diesel had soared 6.7 per cent and 9.3 per cent in April and May, respectively as agriculture demand picked up and cars yanked up air-conditioning to beat the summer heat. Diesel sales typically fall in monsoon months as rains lower demand in the agriculture sector which uses the fuel for irrigation, harvesting and transportation. India's petrol consumption rose in July, but diesel demand fell owing to monsoon rains and floods in some parts of the country, preliminary industry data showed on Tuesday.Ĭonsumption of diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 4.3 per cent to 6.15 million tonne in July compared to the year-ago period.Ĭonsumption had fallen by a steep 15 per cent in first half of July but picked up in the second fortnight.
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