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Stock Market & Financial Investment News

News Breaks
June 10, 2014
08:24 EDTABBV, IDIX, MRKAbbVie shares defended at BMO Capital
After Abbvie's (ABBV) stock fell following Merck's (MRK) acquisition of Idenix (IDIX), BMO Capital still believes that the size and durability of the HCV market and Abbvie's franchise are unappreciated. The firm sees Merck as a significant competitor in HCV, but adds that the potential of the assets it acquired from Idenix is "uncertain and somewhat risky." BMO Capital continues to identify AbbVie as a top pick.
News For ABBV;IDIX;MRK From The Last 14 Days
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October 15, 2014
12:58 EDTABBVAbbVie close to dropping takeover bid for Shire, Bloomberg reports
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12:42 EDTMRKNY AG announces $31M Medicaid settlement with Organon
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12:36 EDTABBVOn The Fly: Midday Wrap
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10:48 EDTABBVShire tanks with AbbVie calling board meeting over merger
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09:57 EDTABBV, MRKLeerink biotech analysts hold an analyst/industry conference call
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09:20 EDTABBVOn The Fly: Pre-market Movers
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07:30 EDTABBVAbbVie review of Shire deal an 'unwelcome surprise,' says Jefferies
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06:58 EDTABBVAbbVie volatility elevated into reconsidering Shire merger
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06:55 EDTABBVShire volatility elevated into AbbVie reconsidering merger recommendation
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05:34 EDTABBVShire says AbbVie should proceed with recommended offer
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October 14, 2014
19:59 EDTABBVAbbVie down nearly 2% after board reconsiders Shire merger
19:48 EDTABBVAbbVie board reconsidering recommendation to holders to accept Shire merger
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19:46 EDTABBVAbbVie board reconsidering recommendation to holders to accept Shire merger
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12:41 EDTABBVGilead retreats following Johnson & Johnson comments on HCV drug
Shares of Gilead (GILD), which has developed a hepatitis C treatment, are retreating after Johnson & Johnson (JNJ) said it would seek to make its own hepatitis C treatment accessible and competitive. Some investors believe that Johnson & Johnson's comments suggest that it will cut the price of its hepatitis C drug. WHAT'S NEW: Johnson & Johnson said on its earnings conference call today that it was "committed" to its treatment for hepatitis C virus, or HCV. The company added that it intends to remain competitive in the space and would look to make its HCV treatment, Olysio, accessible. In a separate development today, The Wall Street Journal reported that Abbvie (ABBV), which also has an HCV treatment, may have to consider pricing its HCV drug more aggressively after Gilead received FDA approval for Harvoni, the first combination pill approved to treat chronic HCV genotype 1 infection. One analyst quoted by The Journal, Roger Longman, said that AbbVie should consider pricing its drug at $76,000 for a 12 week regimen, representing a 20% discount to Harvoni, which will be priced at $94,500 for a full 12 week regimen. ANALYST REACTION: In a note to investors earlier today, RBC Capital analyst Michael Yee wrote that the weakness in Gilead's stock today has created a buying opportunity. Johnson & Johnson probably can't reduce the price of its Olysio drug much, since it is often used in combination with Gilead's Sovaldi, which costs $84,000 for 12 weeks, RBC Capital analyst Michael Yee wrote in a note to investors today. The price of AbbVie's treatment is unlikely to be much below Sovaldi's price, the analyst stated. WHAT'S NOTABLE: Gilead, along with a number of other drug companies, may also be under pressure because Ireland is reportedly closing its "Irish Double" tax loophole. Gilead is one of the companies that currently benefits from the "Irish Double," but Yee says that closing the loophole should only have a "minimal" impact on Gilead. PRICE ACTION: In early afternoon trading, Gilead fell 3.3% to $98.10, AbbVie gained 1.7% to $54.53 and Johnson & Johnson lost 0.6% to $98.52.
11:23 EDTMRKBIND Therapeutics and The Conference Forum hold a conference
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10:51 EDTABBVGilead weakness a buying opportunity, says RBC Capital
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10:05 EDTABBVAbbVie could cause Hep C price tipping point with aggressive pricing, WSJ says
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October 13, 2014
09:23 EDTABBVAbbVie's Humira for hidradenitis suppurativa meets Phase 3 trial endpoint
AbbVie announced new results from PIONEER II, a pivotal Phase 3 study, demonstrating the effect of Humira in reducing common clinical signs and symptoms in moderate-to-severe hidradenitis suppurativa, specifically the number of abscesses and inflammatory nodules. The results of this study, in combination with previously presented results from PIONEER I, will contribute to worldwide regulatory filings for an expanded use of Humira, which is not currently approved by regulatory authorities for the treatment of HS.
07:39 EDTABBVPharmaceutical Care Management Association to hold annual meeting
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07:37 EDTMRK, ABBVAmerican Society of Anesthesiologists to hold annual meeting
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