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March 3, 2014
07:19 EDTEBS, BAX, TEVA, AZN, NBS, MNTA, INO, PTLA, ICPT, AMAG, IRWD, SNY, GILD, ACHNCowen to host a conference
34th Annual Global Healthcare Conference is being held in Boston on March 3-5 with webcasted company presentations to begin on March 3 at 1:30 pm; not all company presentations may be webcasted. Webcast Link
News For ACHN;ICPT;AZN;GILD;PTLA;TEVA;SNY;INO;BAX;IRWD;MNTA;EBS;AMAG;NBS From The Last 14 Days
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January 29, 2016
09:44 EDTGILDGilead slips as another drug enters Hepatitis C virus space
Shares of Gilead (GILD), a leader in the hepatitis C virus treatment space, are sliding this morning after one competitor's hep C drug was granted FDA approval and another's sales disappointed. Additionally, Gilead reported its own news, announcing a shakeup of the roles held by its top executives. MERCK APPROVAL: Merck (MRK) announced last night that the FDA has approved Zepatier for the treatment of adult patients with chronic hepatitis C virus, or HCV, genotype, or GT, 1 or GT4 infection. Merck has established a list price of $54,600 for a 12-week regimen of Zepatier, which the company said it believes to "be in the range of net prices for other commonly used HCV direct-acting antiviral regimens at 12 weeks of therapy." In contrast, a 12-week regimen of Gilead's Sovaldi is reported to be priced at $84,000. Merck added that it anticipates that this price, as well as its "strategy to seek broad coverage across commercial and public segments," will help broaden and accelerate patient access to treatment. ABBVIE RESULTS: Meanwhile, Gilead competitor AbbVie (ABBV) announced financial results for the fourth quarter this morning. AbbVie announced Q4 sales of Viekira Pak, its own hep C treatment, of $554M, including U.S. sales of $197M and international sales of $357M. Analysts expected AbbVie to report Q4 Viekira sales of $568.5M, according to a Bloomberg consensus estimate that factored in four forecasts. EXECUTIVE CHANGES: Additionally, Gilead announced this morning that current chairman and CEO John Martin will assume the role of executive chairman, effective March 10. John Milligan, currently president and COO, will be promoted to CEO and appointed to the company's board. PRICE ACTION: In morning trading, Gilead shares slipped 3.5% to $84.50, while AbbVie fell 2.4% to $54.53 and Merck (MRK) gained 1% to $49.75.
09:35 EDTGILDGilead falls, levels to watch
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09:34 EDTACHNAchillion downgraded to Market Perform from Outperform at Leerink
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09:34 EDTGILDActive equity options trading on open: AMZN MSFT FB AAPL GILD GE
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09:21 EDTGILD, INOOn 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.
08:52 EDTINOInovio rises as CEO says Zika vaccine could enter human testing this year
Inovio Pharmaceuticals (INO) shares are rising again this morning as the Zika virus continues to gain attention and its CEO says the company is "ahead of the pack" in developing a vaccine to combat the disease. YEAR END TESTING POSSIBLE: Joseph Kim, CEO of Inovio, said making a vaccine available by the end of this year is aggressive, but possible, according to Reuters, which quoted Kim as saying, "I believe this will be the first to go into human testing. We believe we're ahead of the pack in the race for a Zika vaccine." WHAT'S NOTABLE: The head of the World Health Organization, Dr. Margaret Chan, said the Zika virus, which has been linked to neurological ailments, especially in fetuses and newborns, is "now spreading explosively" in the Americas. WHO now predicts that Zika could infect as many as 4M people in the Americas. ANOTHER TO WATCH: Cerus (CERS) is also at work on combating Zika. A study, partially funded by Cerus, showed that amotosalen combined with UVA light inactivates Zika virus in fresh-frozen plasma, according to an earlier report. PRICE ACTION: Inovio shares, which gained over 7.5% yesterday, are up another 9% to $6.30 in pre-market trading.
08:14 EDTGILDPiper Jaffray holds an analyst/industry conference call to discuss Gilead
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08:01 EDTGILDGilead chairman, CEO John C. Martin to assume role of executive chairman
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07:28 EDTICPTIntercept upgraded to Equal Weight from Underweight at Morgan Stanley
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07:11 EDTAZNAllergan enters into global agreement with AstraZeneca for ATM-AVI
Allergan announced that it has entered into a global agreement with AstraZeneca to develop and commercialize ATM-AVI, an investigational, fixed-dose antibiotic combining aztreonam and avibactam. Together, the two companies will evaluate the combination to treat serious infections caused by metallo betalactamase MBL-producing Gram-negative pathogens, a difficult-to-treat sub-type of carbapenem-resistant Enterobacteriaceae, or CRE, for which there are currently very limited treatments, thus presenting a new treatment option for patients with MBL-producing pathogens. Under the terms of the agreement, Allergan will maintain commercialization rights in the U.S. and Canada and AstraZeneca will maintain commercialization rights in all other countries.
January 28, 2016
16:40 EDTTEVA, INOOn The Fly: Top stock stories for Thursday
The Dow began the session with triple digit gains thanks in part to solid earnings reports from some of America's bellwether corporations and oil prices, which approached $34 a barrel. The market was unable to hold its opening gains and eventually crossed into negative territory. Before the losses became too big the averages reversed and moved back across the flat line. With oil holding onto its gains and closing above $33 a barrel, the averages closed in positive territory ahead of the next barrage of earnings reports. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 15.5% to $109.11 after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. Facebook management made only one mention of macro concerns for the business in 2016, significantly different than Apple's (AAPL) earnings call on Tuesday night, Munster pointed out... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded 4.7% to $61.08 after the company jumped over the lowered bar that had been set by bearish analysts... Under Armour (UA), which had similarly been the focus of concern recently for some bearish analysts, posted better than expected results on the top and bottom line and backed its fiscal year revenue forecast, proving its doubters wrong and sending its share rocketing up 22.5% to $84.00. MAJOR MOVERS: Among the notable gainers were Intrexon (XON), Inovio (INO) and Cerus (CERS), which gained a respective 10%, 7.6% and 1.4% as the ongoing Zika virus scare brought attention to the companies' efforts fighting the illness. Also higher were SolarCity (SCTY), Sunrun (RUN) and Vivint Solar (VSLR), with the solar stocks jumping 8.5%, 20.5% and 3.6%, respectively, after the California Public Utilities Commission approved new net-metering rules. Meanwhile, Eagle Pharmaceuticals (EGRX) rose 12.2% to $74.44 after announcing commercial availability of its Bendeka injection in partnership with Teva (TEVA). Among the noteworthy losers was Yahoo (YHOO), which lost 3.2% to $28.75 despite a pre-market spike after SpringOwl Asset Management urged the company to seek an investment from a strategic partner. The news was also followed by reports that CEO Marissa Mayer has started restructuring efforts with an "invest/maintain/kill" list, as well as news that Verizon (VZ) denied a report that it had bid for the company's core Internet business. Also lower were OSI Systems (OSIS), Qualcomm (QCOM) and eBay (EBAY), which fell a respective 31.8%, 8.3% and 12.5% following their quarterly earnings reports. INDEXES: The Dow rose 125.18, or 0.79%, to 16,069.64, the Nasdaq gained 38.51, or 0.86%, to 4,506.68, and the S&P 500 advanced 10.41, or 0.55%, to 1,893.36.
12:49 EDTINOCerus spikes as journal discusses treatment of Zika virus
Shares of Cerus (CERS) are rallying after a Transfusion journal article posted on Read Cube made its way through the investment community. The article describes a study, partially funded by Cerus, which showed that amotosalen combined with UVA light inactivates Zika virus in fresh-frozen plasma. Shares of Inovio (INO) are also higher today as news agencies report on more Zika virus cases. Cerus is up 36c to $5.55 in afternoon trading. Reference Link
11:16 EDTTEVATeva and Eagle Pharmaceuticals announce commercial availability of Bendeka
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10:05 EDTAMAGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AMAG Pharmaceuticals (AMAG) initiated with an Outperform at Northland... Angie's List (ANGI) initiated with a Neutral at Roth Capital... Bio Blast Pharma (ORPN) initiated with a Buy at Rodman & Renshaw... British American Tobacco (BTI) initiated with a Buy at UBS... Imperial Tobacco (ITYBY) initiated with a Buy at UBS... Instructure (INST) initiated with an Outperform at Barrington... Nektar (NKTR) initiated with a Buy at Janney Capital... Par Pacific (PARR) initiated with an Outperform at Imperial Capital... Pure Storage (PSTG) initiated with a Buy at Maxim... comScore (SCOR) initiated with a Hold at Evercore ISI.
07:16 EDTINOInovio, GeneOne initiate patient recruitment for MERS vaccine trial
Inovio Pharmaceuticals announced the beginning of recruitment for its collaborative vaccine study for MERS. Inovio and GeneOne Life Science Inc. are co-developing Inovio's MERS vaccine in partnership with the Walter Reed Army Institute of Research in Maryland, where the trial is being conducted. The primary and secondary goals of this first-in-man phase I trial are to obtain safety and immunogenicity data. This trial represents the first MERS vaccine to be tested in humans for this disease that has no approved vaccines or treatments.
06:51 EDTAMAGAMAG Pharmaceuticals initiated with an Outperform at Northland
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January 27, 2016
12:19 EDTTEVAPiper Jaffray biopharma analyst holds an analyst/industry conference call
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11:07 EDTGILDGilead 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.
10:38 EDTGILDGilead trades near session lows
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08:52 EDTGILDMassachusetts AG warns Gilead hep C drug prices may be unfair, Boston Globe says
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