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News Breaks
February 17, 2013
15:32 EDTRHHBY, ABBVAbbVie suspends Leukemia therapy trials. Bloomberg reports
AbbVie (ABBV) and its partner in the trials, Roche (RHHBY), have cancelled five studies on an experimental leukemia and lymphoma medicine after two patient deaths said an AbbVie spokesperson, adding that AbbVie and its partner, Roche Holding, suspended the dose-escalation portion of the studies to determine the amount of drug that is safest and most effective, reported Bloomberg Friday afternoon. Reference Link
News For ABBV;RHHBY From The Last 14 Days
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January 29, 2016
09:38 EDTABBVAbbVie sees FY16 Humira revenue growth in high-teens
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09:35 EDTABBVAbbVie sees Q1 adjusted EPS $1.13-$1.15, consensus $1.15
Guidance excludes 11c of non-cash amortization and specified items. Sees Q1 revenue growth just above 20%, consensus $6.06B.
09:30 EDTABBVAbbVie says FY16 to be 'milestone-filled'
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09:21 EDTABBVOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Gigamon (GIMO), up 17.7%... Fortinet (FTNT), up 10%... Flextronics (FLEX), up 10%... Skyworks (SWKS), up 5.7%... Seagate Technology (STX), up 4.9%.. Microsoft (MSFT), up 4.6%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 8.1% after CEO says Zika vaccine could enter human testing this year... J.C. Penney (JCP), up 2.1% after being upgraded to Neutral from Underperform at Credit Suisse... BRF S.A. (BRFS), up 3.1% after being upgraded to Buy from Hold at Deutsche Bank... Axiall (AXLL), up 83.4% after rejecting $20 per share acquisition proposal from Westlake Chemical (WLK)... Energous (WATT), up 12% after Bloomberg reported that Apple (AAPL) is working with partners in the U.S. and Asia to develop new wireless charging technology. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 10.1%... Electronic Arts (EA), down 6.2%... AbbVie (ABBV), down 4%... American Airlines (AAL), down 1.3%. ALSO LOWER: Gilead Sciences (GILD), down 5.5% after CEO John Martin to assume role of executive chairman and COO John Milligan will be promoted to CEO.
07:54 EDTABBVAbbVie backs FY16 adjusted EPS $4.90-$5.10, consensus $5.03
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07:54 EDTABBVAbbVie reports Q4 adjusted net revenue $6.36B, consensus $6.39B
Global HUMIRA sales increased 16% on an operational basis to $3.72B, excluding the impact of foreign exchange. Exceptional U.S. HUMIRA growth of 20.7% was driven by continued momentum across all three major market categories - rheumatology, dermatology and gastroenterology. International HUMIRA sales growth was also strong in the fourth quarter, up 9.7 percent on an operational basis. Reported international HUMIRA sales growth in the quarter was reduced by 13.1 percent due to unfavorable foreign exchange. Fourth-quarter global IMBRUVICA net revenue was $343 million, with U.S. sales of $295 million and international profit sharing of $48 million for the quarter.
07:52 EDTABBVAbbVie reports Q4 adjusted EPS $1.13, consensus $1.12
Reports Q4 revenue $6.40B, consensus $6.39B.
07:49 EDTABBVBristol-Myers, AbbVie receive 'positive' CHMP opinion for Empliciti
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January 28, 2016
14:29 EDTABBVNotable companies reporting before tomorrow's open
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13:05 EDTABBVAbbVie volatility elevated into Q4 and outlook
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07:12 EDTABBVAbbVie intiates enrollment in Phase 3 clinical program for Elagolix
AbbVie (ABBV), in cooperation with Neurocrine Biosciences (NBIX), announced the initiation of the first of two planned Phase 3 clinical studies evaluating the safety and efficacy of Elagolix alone or in combination with add-back therapy compared to placebo. These studies are designed to assess the change in menstrual blood loss utilizing the alkaline hematin method, comparing baseline to month six of treatment. Additional secondary efficacy endpoints are being evaluated; including assessing changes in fibroid volume, monthly blood loss and hemoglobin levels. Bone mineral density will also be assessed.
05:54 EDTABBVStocks with implied volatility movement; EMR ABBV
Stocks with implied volatility movement; Emerson (EMR) 38, AbbVie (ABBV) 42 according to iVolatility.
05:48 EDTRHHBYRoche expects 2016 sales to grow low- to mid-single digit
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05:48 EDTRHHBYRoche board recommends dividend increase to CHF 8.10 per share
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05:47 EDTRHHBYRoche reports FY15 core EPS CHF 13.49 vs. CHF 14.29 last year
05:46 EDTRHHBYRoche reports FY15 Group sales CHF 44.15B vs. CHF 47.46B last year
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05:37 EDTRHHBY, ABBVAbbVie announces venetoclax granted Breakthrough Therapy Designation by FDA
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January 27, 2016
12:19 EDTABBV, RHHBYPiper Jaffray biopharma analyst holds an analyst/industry conference call
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11:07 EDTABBVGilead sinks as Attorney General probes pricing strategy
Shares of drugmaker Gilead (GILD) are underperforming after Massachusetts Attorney General Maura Healey warned that her office may bring an unfair commercial conduct complaint against it related to the pricing for its Hepatitis C virus treatments Sovaldi and Harvoni. UNFAIR PRICING: Healey, in a letter addressed to Gilead CEO John Martin dated January 22 that has just been made public, said that her office is considering whether Gilead's pricing strategy for Sovaldi and Harvoni may constitute an "unfair trade practice" in violation of Massachusetts law. "Because Gilead's drugs offer a cure for a serious and life-threatening infectious disease, pricing the treatment in a manner that effectively allows HCV to continue spreading through vulnerable populations, as opposed to eradicating the disease altogether, results in massive public harm," Healey stated in her letter to Martin. Healey, who urged Gilead to adjust its pricing strategy, noted that the company has invoked the high cost and risk associated with research and development as a justification for its prices, but she said that Gilead quickly recouped its outlay to acquire Pharmasset by selling "$12.4B worth of HCV medication in the first year alone" after its deal. The AG, who said that Sovaldi costs $1,000 per pill in the U.S. but only $10 per pill in Egypt and about $4 per pill in India, contends that American taxpayers "have been footing the bill for Gilead's record profits." FREQUENT TARGET: The pricing of Gilead's hep C treatments have been the focus of significant criticism and political rhetoric in the past. In December, Senate Finance Committee Ranking Member Ron Wyden and senior committee member Chuck Grassley released the results of an 18-month investigation into the pricing and marketing of Sovaldi and Harvoni. The company "pursued a marketing strategy and final wholesale price of Sovaldi - $1,000 per pill, or $84,000 for a single course of treatment - that it believed would maximize revenue," and "fostering broad, affordable access was not a key consideration in the process of setting the wholesale prices," the senators wrote. Members of the Affordable Drug Pricing Task Force, who held a press conference last November to announce "meaningful action" to combat the "skyrocketing" costs of pharmaceuticals, specifically took aim at Sovaldi. During her campaigning efforts, presidential candidate Hillary Clinton has repeatedly decried the "outrageous" prices of specialty drugs. OTHERS TO WATCH: AbbVie (ABBV), Merck (MRK) and Johnson & Johnson (JNJ) also market or are at work on therapies for hepatitis C. PRICE ACTION: In morning trading, Gilead slid 2% to $90.35.
09:02 EDTRHHBYEli Lilly and Roche to collaborate on Alzheimer's diagnostic tool
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