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Stock Market & Financial Investment News

News Breaks
June 10, 2014
12:13 EDTACHN, GILD, ABBV, IDIX, MRKAchillion surges after FDA lifts hold, buyout speculation continues
Shares of hepatitis C treatment maker Achillion (ACHN) are rising dramatically for a second day after Merck (MRK) yesterday announced that it would acquire another company in the space. Meanwhile, Achillion announced today that it had received favorable news from the FDA about resuming certain clinical trials and added that it had begun a Phase I trial of one of its hepatitis C, or HCV, treatments, ACH-3422. WHAT'S NEW: Achillion is rallying for a second straight day after Merck announced that it had acquired Idenix (IDIX). Like Achillion, Idenix is a smaller company that has developed HCV treatments and, also like Idenix, one of Achillion's HCV treatments is a nucleotide. Achillion earlier today announced that the FDA had removed its clinical hold on sovaprevir. As a result of the FDA's decision, Achillion will be able to conduct clinical trials of the drug, the company stated. The FDA placed a hold on the drug last year after a number of patients developed elevated liver enzymes while taking it. Also today, Achillion announced that it had begun dosing patients with ACH-3422 in a Phase I clinical trial. ANALYST REACTION: In a note to investors earlier today Edward Tenthoff, an analyst at research firm PiperJaffray, wrote that today's news positions Achillion as a takeover target. Additionally, the company could develop a nucleotide HCV treatment that is competitive with Gilead's successful Sovaldi, Tenthoff wrote. However, Tenthoff believes that potential buyers of Achillion may wait for more data on its products to be unveiled later this year before looking to bid. The analyst kept a Neutral rating on the stock. WHAT'S NOTABLE: Gilead and AbbVie (ABBV), whose stocks fell yesterday after Merck announced its acquisition, were defended today by RBC Capital and BMO Capital, respectively. RBC Capital expects sales of Gilead's Sovaldi to come in well above consensus estimates for 2015, potentially enabling the company's EPS to reach $8-$10. The market expects the sales of all HCV treatments to drop significantly in 2016, but the firm does not agree with this outlook and kept an Outperform rating on Gilead. Meanwhile, BMO Capital defended AbbVie. BMO still believes that the size and durability of the HCV market and AbbVie's franchise are underappreciated. The firm sees Merck as a significant competitor in HCV, but added that the potential of the assets it acquired from Idenix is "uncertain and somewhat risky." BMO kept an Outperform rating on AbbVie and continued to identify it as a top pick. PRICE ACTION: In early afternoon trading, Achillion surged 54% to $6.54. The stock had advanced more than 47% yesterday. Also near noon, Gilead rose 0.7% to $79.54, while Abbvie fell 0.9% to $53.38.
News For ACHN;GILD;ABBV;IDIX;MRK From The Last 14 Days
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October 14, 2014
09:14 EDTGILDJ&J sees FY14 pre-tax operating margin significantly improved vs. FY13
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October 13, 2014
16:02 EDTGILDOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
09:56 EDTGILDBernstein biotech analyst to hold an analyst/industry conference call
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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.
08:36 EDTGILDGilead HARVONI launch should be strong, says BMO Capital
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07:56 EDTGILDGilead Harvoni pricing 'very reasonable,' says RBC Capital
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07:39 EDTGILD, ABBVPharmaceutical 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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06:07 EDTACHNStocks with implied volatility above IV index mean; AVP ACHN
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October 10, 2014
14:08 EDTGILDGilead 12-week regimen of Harvoni to cost $94.5K
Gilead said its newly-approved treatment of hepatitis C genotype 1 infection, Harvoni, will be priced at $94,500 for a full 12 week regiment, according to multiple media outlets, which cite a company spokesperson.
13:55 EDTGILDGilead confirms FDA approval of Harvoni
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13:42 EDTGILDGilead hepatitis C treatment Harvoni approved by FDA
The FDA announced the approval of Harvoni to treat chronic hepatitis C virus genotype 1 infection. Harvoni is the first combination pill approved to treat chronic HCV genotype 1 infection, the agency stated. It is also the first approved regimen that does not require administration with interferon or ribavirin, two FDA-approved drugs also used to treat HCV infection, it added. Harvoni is marketed by Gilead.
13:40 EDTGILDFDA approves Gilead hepatitus C treatment Harvoni
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08:19 EDTGILDMedivir announces Janssen initiates enrolment in phase II IMPACT study
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07:21 EDTGILDFDA PDUFA Date for Gilead Sciences Sofosbuvir is October 10, 2014
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05:59 EDTACHNStocks with implied volatility above IV index mean; AVP ACHN
Stocks with implied volatility above IV index mean; Avon Products (AVP) 61, Achillion (ACHN) 200 according to iVolatility.
October 9, 2014
11:43 EDTGILDStocks with call strike movement; GILD EWZ
Gilead (GILD) February 120 call option implied volatility increased 3% to 38, MSCI Brazil Index (EWZ) February 58 call option implied volatility increased 3% to 38 according to IVolatility.
08:32 EDTMRKMerck HCV solutions becoming more credible, says Bernstein
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08:28 EDTABBV, GILDGilead to be challenged by AbbVie in HCV near-term, says Bernstein
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06:08 EDTACHNStocks with implied volatility above IV index mean; AVP ACHN
Stocks with implied volatility above IV index mean; Avon Products (AVP) 60, Achillion (ACHN) 195 according to iVolatility.
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