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News Breaks
January 13, 2014
05:21 EDTSNY, ALNYAlnylam, Genzyme form transformational alliance for RNAi therapeutics
Alnylam Pharmaceuticals (ALNY) and Genzyme, a Sanofi company (SNY), announced that they have formed a transformational alliance for the development and commercialization of RNAi therapeutics as genetic medicines. Alnylam will retain product rights in North America and Western Europe, while Genzyme will obtain the right to access Alnylam’s current “5x15”1 and future genetic medicines pipeline in the rest of the world, or ROW, including global product rights for certain programs. In addition, Genzyme becomes a major Alnylam shareholder through an upfront purchase of $700M of newly issued stock at approximately $80/share, representing an approximately 12% ownership position. This alliance significantly bolsters Alnylam’s balance sheet to over $1B in cash, enabling an increased investment in the company’s RNAi therapeutics pipeline and is expected to secure Alnylam’s financial independence through to multiple product launches. Upon the closing of the transaction, Genzyme will opt-in to patisiran, or ALN-TTR02, – an RNAi therapeutic currently in a Phase 3 trial for the treatment of transthyretin, or TTR-mediated amyloidosis, or ATTR patients with Familial Amyloidotic Polyneuropathy – for its ROW territories, while Alnylam retains full product rights in North America and Western Europe. Alnylam and Genzyme have also agreed to expand their current collaboration on ALN-TTRsc – an RNAi therapeutic currently in a Phase 2 trial for the treatment of ATTR patients with TTR amyloid cardiomyopathy – where the parties will co-develop and co-promote ALN-TTRsc in North America and Western Europe; Alnylam will maintain development and commercialization control with ALN-TTRsc and Genzyme will develop and commercialize the product in its ROW territories. The companies believe that this broadened collaboration on ALN-TTRsc will increase the product’s overall value, as significant market development and commercial operational scale is warranted to maximize the opportunity for both familial cardiac amyloidosis senile systemic amyloidosis manifestations of TTR cardiac amyloidosis.
News For ALNY;SNY From The Last 14 Days
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February 8, 2016
06:28 EDTSNYPharma trade group rolls out ad campaign aimed at lawmakers, WSJ says
The pharmaceutical industry is launching a new ad campaign with the intention of improving its reputation with lawmakers in an effort to lobby against drug price restrictions, the Wall Street Journal reports. The industry's biggest trade group the Pharmaceutical Research and Manufacturers of America, or PhRMA, says it plans to spend several million dollars this year, and 10% more than it spent last year, on digital, radio, and print advertisements that highlight the sector's role in developing new drugs and advancing medical science, the report says. Publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Reference Link
February 2, 2016
11:09 EDTSNYSanofi plans to cut 600 jobs in France over three years, Bloomberg reports
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08:36 EDTALNYPiper Jaffray biopharma analyst holds an analyst/industry conference call
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07:24 EDTSNYSanofi, Merck mulling exiting vaccine JV, Bloomberg reports
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05:19 EDTSNYSanofi Pasteur launches R&D project targeting prevention of Zika virus infection
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February 1, 2016
08:03 EDTALNYAlnylam completes enrollment in APOLLO Phase 3 study with Patisiran
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January 29, 2016
13:38 EDTSNYAmgen wins right to allege willful infringement in Praluent suit, Markman says
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January 26, 2016
15:31 EDTSNYMannKind exploring potential sale, Reuters reports
MannKind (MNKD), whose shares have plunged 40% since Sanofi (SNY) terminated an agreement for the development and commercialization of inhaled insulin drug Afrezza, is now exploring its strategic options, including a potential sale, reported Reuters, citing people familiar with the matter. MannKind shares are up about 20% to 90c in afternoon trading following the report. Reference Link
January 25, 2016
10:55 EDTSNYRegeneron slips after analyst says sell to avoid risk from Amgen patent suit
Shares of Regeneron Pharmaceuticals (REGN) fell in morning trading after an analyst at Chardan downgraded the stock to Sell, citing risk from a patent lawsuit in which the biopharmaceutical company is involved. CHARDAN SAYS SELL: Chardan Capital Markets analyst Gbola Amusa downgraded Regeneron to Sell from Neutral this morning, while reducing his price target on shares to $400 from $525. In a note to clients, Amusa said he believes that Regeneron is likely to face significant risks from the upcoming patent infringement case for Praluent. The suit could be a key driver of the company's share price performance in the near future, the analyst said. Regeneron, along with its partner Sanofi (SNY), launched Praluent in the U.S. last year, after the October 2014 filing of a patent infringement suit by Amgen (AMGN) relating to patents for "monoclonal antibodies that bind PCSK9," Amusa noted. The analyst believes that since Regeneron and Sanofi "likely" infringe Amgen's patents for Repatha, the Regeneron-Sanofi partnership could seek to settle the ahead of the trial by agreeing to pay 10%-20% or more of royalties to Amgen for U.S. Praluent sales. Amusa said that "such an outcome we estimate could transfer roughly $750M of operating income per year to Amgen." Further, Amusa said that catalysts surrounding the patent infringement trial are "likely to play out from late February to late March," and concedes that "both sides have good reasons to settle this case for a reasonable royalty." INCREASING COMPETITION: Amusa also noted that he sees increasing competitive risks in 2016 to Regeneron's Eylea from Novartis (NVS) and its partner Ophthotech (OPHT), which continue to progress Fovista into Phase III trials in wet AMD. WHAT'S NOTABLE: Roth Capital upgraded Regeneron to Buy from Neutral on January 19, based on valuation, as the firm said shares do not reflect the value of the company's upcoming catalysts. The firm also raised its price target to $555 from $543. The same day, Credit Suisse initiated Regeneron with a Neutral rating and $552 target. PRICE TARGET: Regeneron slipped 1.4% to $476.02 in morning trading.

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