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News Breaks
February 21, 2013
09:03 EDTABT, JNJ, PCYCAbbott collaborates with Janssen and Pharmacyclics for leukemia therapy
Abbott (ABT) announced that it will collaborate with Janssen Biotech (JNJ) and Pharmacyclics (PCYC) to explore the benefits of Abbott's proprietary FISH technology for use in developing a molecular companion diagnostic test to identify patients with a genetic subtype of chronic lymphocytic leukemia (CLL), the most common form of adult leukemia. Under the agreement, Abbott will develop a FISH-based test to identify high-risk CLL patients who have a deletion within a specific chromosome and may respond to ibrutinib, an oral, small molecule inhibitor of Bruton tyrosine kinase. Ibrutinib is currently in development by Janssen and Pharmacyclics for several B-cell malignancies, including chronic leukemia and lymphoma. Patients harboring a deletion within chromosome 17p are poor responders to chemoimmunotherapy and have limited treatment options. Having a test that is able to accurately detect the 17p deletion identifies a specific patient population with a high unmet medical need.
News For ABT;JNJ;PCYC From The Last 14 Days
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September 17, 2014
08:36 EDTJNJJanssen-Cilag announces results from post-hoc canagliflozin analysis
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08:12 EDTJNJJanssen-Cilag announces results from Phase 3 Invokana trial
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September 16, 2014
11:51 EDTABTOECD looks to close tax loopholes with new proposals
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07:31 EDTJNJEuropean Association for Study of Diabetes to hold annual meeting
50th Annual Meeting of EASD to be held in Vienna, Austria on September 15-19.
07:03 EDTPCYCPharmacyclics VA contract worth $6 per share, says William Blair
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September 15, 2014
09:32 EDTABTAbbott initiates ABSORB IV trial
Abbott announced the start of the ABSORB IV clinical trial, which will test whether its Absorb Bioresorbable Vascular Scaffold is more cost-effective and offers a higher quality of life than a permanent, metallic drug eluting stent. Unlike a metallic stent, Absorb completely dissolves over time after doing its job. ABSORB IV is designed to enroll approximately 3K people with coronary artery disease, mostly in the U.S. The ABSORB IV trial is designed to confirm these novel findings that treatment with the Absorb device can help provide people with heart disease a higher quality of life after a heart stent procedure. The data from the ABSORB IV trial will be combined with the data from the ABSORB III trial to create a population of more than 5K people studied in the U.S. This data set, which is the largest of its kind for bioresorbable heart devices, provides an opportunity to evaluate the performance of Absorb compared to the current standard of a metallic drug eluting stent across a number of measures, including the broader health economic impact of this innovative therapy.
07:45 EDTABTCardiovascular Research Foundation to hold a conference
Transcatheter Cardiovascular Therapeutics: TCT 2014 to be held in Washington, D.C. on September 13-17 with some presentations being webcasted. Webcast Link
07:27 EDTJNJIBC Life Sciences to hold a conference
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September 14, 2014
13:30 EDTABTAbbott announces positive one-year clinical results from ABSORB II
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September 11, 2014
13:41 EDTABTAbbott announces new $3B share repurchase program
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08:28 EDTPCYCPharmacyclics VA contract has ceiling of $3.81B, says JPMorgan
JPMorgan says the Veterans Affairs contract won by Pharmacyclics for Imbruvica has a ceiling price of $3.81B over the entire 5-year period, and that actual sales will depend on the demand the drug generates. The firm notes Imbruvica’s contracted price has been negotiated for year one, and that the VA will either renegotiate the price each year or continue as is. JPMorgan keeps an Overweight rating on shares of Pharmacyclics.
07:11 EDTJNJMedivation price target raised to $112 from $89 at Stifel
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September 10, 2014
14:29 EDTPCYCPharmacyclics Veterans Affairs contract worth up to $17 per share, says Goldman
Today, the U.S. Department of Veterans Affairs awarded Pharmacyclics a contract worth up to $3.8B over the next five years to supply its cancer drug, Imbruvica. Goldman said the contract could be worth up to $17 per share if fully realized and views it as an unexpected windfall for the company.
14:07 EDTPCYCPharmacyclics ibrutinib designated as orphan treatment of follicular lymphoma
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13:11 EDTPCYCPharmacyclics climbs after leukemia drug wins VA contract
Shares of drug maker Pharmacyclics (PCYC) are rallying after a federal government website revealed that the company had won a contract that could be worth up to $3.8B. However, RBC Capital is warning that the deal is not as lucrative as it sounds and will not lead analysts to significantly raise their estimates for the company. WHAT'S NEW: A contract for Phamacyclics' Imbruvica drug, a treatment for chronic lymphocytic leukemia, was disclosed earlier today. The contract from Veterans Affairs, which has an award date of September 4, was revealed in a notice posted today to Federal Business Opportunities website and has a potential value of $3.809B, according to the posting. ANALYST REACTION: In a note to investors today, RBC Capital analyst Michael Yee wrote that the news is positive, but not to the extent that the size of the deal would suggest. Pharmacyclics is indicating that the size of the deal has been significantly misrepresented, Yee reported. Additionally, the order may not be a major surprise to analysts, since it is expected that the government will place orders for oncology drugs, he stated. Although Pharmacyclics is on pace to beat third quarter expectations, the order revealed today is unlikely to lead analysts to significantly raise their estimates, Yee stated. He kept a Sector Perform rating on the shares. PRICE ACTION: In early afternoon trading, Pharmacyclics advanced 5.5% to $125.
12:24 EDTPCYCPharmacyclics VA contract not likely to change estimates, says RBC Capital
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10:58 EDTPCYCPharmacyclics rises after VA contract award revealed
Shares of drugmaker Pharmacyclics are rising after a contract for its Imbruvica drug that was previously awarded by the Department of Veterans Affairs was disclosed. The contract, which has an award date of September 4, was revealed in an award notice posted today today to Federal Business Opportunities website and has a potential value of $3.809B, according to the posting. Pharmacyclics shares are up 6.5% to $126.35 in morning trading following the circulation of the FBO site posting.
10:51 EDTPCYCPharmacyclics receives contract up to $3B from Department of Veterans Affairs
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10:14 EDTJNJJohnson & Johnson says off to 'very good start' this year
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September 9, 2014
06:42 EDTABTLew expects to make decision on combating inversion deals soon, NY Times reports
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