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December 14, 2012
10:55 EDTABT, ABT, CELG, CELG, GILD, GILD, INFI, INFI, PCYC, PCYC, PFE, PFE, RHHBY, RHHBY, SGEN, SGENLeerink's biotech analyst holds a post-ASH update conference call
Biotech Analyst Liang discusses new agents for lymphomas including new data on kinase inhibitors Ibrutinib (PCYC), GS-1101 (GILD), IPI-145 (INFI), Bcl-2 inhibitor ABT-199 (ABT/Roche) on the Analyst/Industry conference call to be held on December 14 at 11 am.
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November 13, 2015
13:57 EDTPFEAppeals court vacates decision invalidating Medicines Co. Angiomax patents
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11:12 EDTPFEPiper sees Pfizer profiting from Allergan deal, worth $50/share even without one
An acquisition of Allergan (AGN) by Pfizer (PFE) would increase the latter company's profits in 2016-2017 and lift its earnings by a large amount by 2019, wrote research firm Piper Jaffray in a note to investors today. WHAT'S NEW: By 2019, an acquisition of Allergan would increase Pfizer's earnings per share by 13%-16%, estimated Piper analyst Richard Purkiss. The deal would be profitable for Pfizer as early as 2016, the analyst believes. Excluding any acquisition, Pfizer is worth over $50 per share, well above analysts' average price target of $40, Purkiss believes. He kept a $52 price target and Overweight rating on Pfizer. WHAT'S NOTABLE: Yesterday dealReporter, noting that an acquisition of Allergan by Pfizer would be "a giant inversion deal," asserted that the U.S. Treasury could look to take steps to limit or discourage those types of transactions. On November 6, research firm Bernstein said that Allergan's strong results, coupled with the weakness of drug stocks, could cause Allergan to be reluctant to sell itself to Pfizer in the near-term. As a result, the firm thinks that the odds of a deal getting done may be lower than many believe. It kept a $385 price target and Outperform rating on Allergan. PRICE ACTION: In late morning trading, Pfizer rose fractionally to $33.47 and Allergan added 1.3% to $303.87.
11:02 EDTCELGCelgene calls active on renewed takeover chatter
Celgene November weekly 111 and 112 calls are active on total call volume of 9K contracts (3K puts) on renewed takeover chatter. November weekly call option implied volatility is at 82, November is at 42, December is at 35; compared to its 52-week range of 23 to 54. Active call volume suggests traders taking positions for large price movement.
10:58 EDTCELGRumor: Celgene moves up on renewed takeover chatter
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10:18 EDTRHHBYRoche receives FDA approval for cobas EGFR mutation test
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10:00 EDTABTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Neutral from Buy at Goldman... Advance Auto Parts (AAP) downgraded after Q3 miss at Sterne Agee CRT... CafePress (PRSS) downgraded to Underperform from Market Perform at Raymond James... (CTRP) downgraded to Outperform from Strong Buy at Raymond James... CubeSmart (CUBE) downgraded to Outperform from Strong Buy at Raymond James... Deutsche Bank (DB) downgraded to Neutral from Buy at Citi... Digital Ally (DGLY) downgraded to Neutral from Buy at Roth Capital... El Pollo Loco (LOCO) downgraded to Neutral at Baird... F5 Networks (FFIV) downgraded to Market Perform from Outperform at William Blair... FirstMerit (FMER) downgraded on stock outperformance at Raymond James... Fly Leasing (FLY) downgraded to Underweight from Neutral at JPMorgan... GameStop (GME) downgraded on valuation, digital impact at Pacific Crest... Histogenics (HSGX) downgraded to Neutral from Buy at BTIG... MaxPoint (MXPT) downgraded to Hold from Buy at Needham... Memorial Resource (MRD) downgraded to Outperform at Scotia Howard Weil... Rite Aid (RAD) downgraded to Neutral from Overweight at JPMorgan... Rubicon Minerals (RBY) downgraded to Sell from Hold at Canaccord... SABMiller (SBMRY) downgraded to Hold from Buy at Berenberg... Sensata (ST) downgraded at SunTrust... Stryker (SYK) downgraded to Neutral from Buy at Goldman.
09:34 EDTRHHBYFDA approves Roche's cobas EGFR Mutation Test
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06:54 EDTPFEPiper sees Pfizer worth over $50/share on standalone basis
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06:26 EDTABTAbbott downgraded to Neutral from Buy at Goldman
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06:24 EDTABTMedtronic upgraded to Conviction Buy from Buy at Goldman
Goldman Sachs analyst David Roman upgraded Medtronic (MDT) to Conviction Buy saying the stock's risk/reward is compelling at current levels. The company's fundamentals are the strongest in nearly a decade amid improving end-markets, new product launches and financial flexibility, Roman tells investors in a research note. He raised his price target for shares to $90 from $87. Roman removed Stryker (SYK) from the Conviction List and also downgraded Abbott (ABT) to Neutral.
November 12, 2015
17:55 EDTGILDGilead announces FDA approval of Harvoni
Gilead Sciences announced that the U.S. FDA has approved Harvoni for expanded use in patients with genotype 4, 5 and 6 chronic hepatitis C virus infection and in patients co-infected with HIV. In addition, Harvoni plus ribavirin for 12 weeks was approved as an alternate therapy to 24 weeks of Harvoni for treatment-experienced, genotype 1 patients with cirrhosis. Harvoni received regulatory approval for the treatment of chronic HCV genotype 1 infection in adults in the United States in October 2014.
13:45 EDTPFEPfizer, Allergan talks could set off further Treasury action, dealReporter says
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11:50 EDTRHHBYRoche to restructure manufacturing network for small molecules
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November 11, 2015
07:56 EDTPFEBoston Biotech Conferences to hold a conference
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November 10, 2015
18:40 EDTPFEAllergan CEO says some peers 'deserve' pricing scrutiny, Bloomberg reports
In a Bloomberg TV interview Tuesday, Allergan (AGN) CEO Brent Saunders said certain drugmakers "deserve" recent scrutiny over drug price hikes. "There are a few companies that were very aggressive and perhaps took it too far, and deserve the attention they are getting. I think it's good. Transparency helps solve some of these issues," said the CEO. Asked whether he would be interested in acquiring embattled Valeant (VRX), Saunders said, "The things we look to buy are really first-in-class drugs, growth assets. There are a few of those in Valeant but there are also a lot of older medicines." Other companies that have received attention on the issue include Retrophin (RTRX), Pfizer's (PFE) Hospira, and Mallinckrodt (MNK). Reference Link
17:34 EDTPFEPfizer, Allergan considering Saunders as CEO of combined company, Bloomberg says
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13:40 EDTRHHBYExelixis, Roche announce FDA approval of Cotellic
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13:05 EDTRHHBYGenentech: FDA approves Cotellic in combination with Zelboraf for melanoma
Genentech, a member of the Roche Group, announced that the U.S. FDA approved Cotellic for the treatment of people with BRAF V600E or V600K mutation-positive unresectable or metastatic melanoma in combination with Zelboraf. Cotellic and Zelboraf are not used to treat melanoma with a normal BRAF gene. Cotellic is Genentech's seventh new medicine approved by the FDA in the past five years. Today's FDA approval is based on results from the Phase III coBRIM study, which showed Cotellic plus Zelboraf reduced the risk of disease worsening or death by about half in people who received the combination, with a median PFS of 12.3 months for Cotellic plus Zelboraf compared to 7.2 months with Zelboraf alone. An interim analysis also showed the combination of Cotellic and Zelboraf helped people live significantly longer than Zelboraf alone. The objective response rate was higher with Cotellic plus Zelboraf compared to Zelboraf alone, as was the complete response rate. Possible serious side effects with Cotellic include risk of skin cancers, increased risk of bleeding, heart problems that can lead to inadequate pumping of the blood by the heart, rash, eye problems, abnormal liver test or liver injury, increased levels of an enzyme in the blood, and photosensitivity. The most common side effects of Cotellic include diarrhea, sunburn or sun sensitivity, nausea, fever and vomiting. Cotellic can also cause changes in blood test results. In September, the Committee for Medicinal Products for Human Use at the European Medicines Agency issued a positive opinion for Roche's marketing authorization application for Cotellic in the European Union. A decision from the European Commission is expected before the end of 2015. Cotellic was approved in Switzerland by Swissmedic in August 2015.
11:09 EDTRHHBYExelixis trading halted, news pending
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11:00 EDTRHHBYFDA announces approval of Cotellic for advanced melanoma
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