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News Breaks
June 12, 2014
07:44 EDTAZN, NKTR, SLXP, PGNXFDA Anesthetic & Analgesic Drug Products Advisory Committee holds a meeting
The Committee reviews opioid antagonists being developed for opioid induced constipation including Progenics' and Salix Pharmaceuticals' Subcutaneous RELISTOR and Nektar Therapeutics and AstraZeneca's Naloxegol in a meeting being held at FDA Silver Spring, Maryland offices on June 12 at 8 am. Webcast Link
News For AZN;NKTR;SLXP;PGNX From The Last 14 Days
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October 20, 2014
11:12 EDTNKTRNektar management to meet with Roth Capital
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08:19 EDTPGNXProgenics presents data from Phase 2 trial of 1404 PSMA imaging agent
Progenics Pharmaceuticals announced that data from a Phase 2 trial of its PSMA imaging agent candidate, 1404, have been presented at the 27th Annual European Association of Nuclear Medicine Congress being held in Gothenburg, Sweden. 1404 is a targeted small molecule designed to "visualize" prostate cancer by targeting prostate specific membrane antigen. "The Phase 2 data are quite impressive and demonstrate how SPECT/CT with 1404 may provide a more accurate assessment of the presence, location and extent of prostate cancer," said Dr. Dabasi. Gabriella Dabasi, Ph.D. presented, "1404 may provide prognostic information for both primary and metastatic disease in a single procedure, which could greatly enhance the clinical decision-making process. There is a strong rationale for continued development of this promising molecular imaging agent." In the Phase 2 trial, SPECT/CT imaging with 1404 showed 94% sensitivity in detecting and imaging cancer in the prostate gland of high-risk patients prior to prostatectomy. In addition, 1404 was more sensitive than MRI in detecting primary prostate cancer and was a good predictor of lymph node involvement at prostatectomy. SPECT/CT imaging with 1404 identified 14 more patients with suspicious lymph node sites than MRI. Uptake of 1404 in the lobes of the prostate gland showed a highly significant correlation with Gleason score. The data also showed uptake of 1404 in the primary tumor was significantly lower in treated patient, corresponding to a decrease in PSA over time observed in these treated patients.
07:47 EDTAZNPfizer less likely to renew Astra pursuit after Shire deal breakdown, FT says
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07:19 EDTAZNIBC Life Sciences to hold a conference
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07:14 EDTAZNEuropean College of Neuropsychopharmacology to hold a conference
27th ECNP Congress is being held in Berlin, Germany on October 18-21.
October 16, 2014
15:10 EDTSLXPAmerican College of Gastroenterology to hold annual meeting
ACG Annual Scientific Meeting 2014 to be held in Philadlephia, PA on October 17-22.
October 15, 2014
10:48 EDTAZNShire tanks with AbbVie calling board meeting over merger
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October 14, 2014
11:23 EDTAZNBIND Therapeutics and The Conference Forum hold a conference
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October 13, 2014
10:08 EDTAZNOn The Fly: Analyst Upgrade Summary
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09:21 EDTAZNOn The Fly: Pre-market Movers
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07:53 EDTAZNAstraZeneca upgraded to Buy from Hold at Jefferies
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05:27 EDTAZNAstraZeneca upgraded to Buy from Hold at Jefferies
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October 9, 2014
11:14 EDTSLXPAllergan raises outlook again as Valeant pursuit continues
Drug maker Allergan (AGN) this morning preannounced stronger than expected results and again raised its fiscal year profit guidance. The beat and raise results come after The Wall Street Journal reported on Tuesday that drug maker Valeant (VRX) and hedge fund Pershing Square intend to raise their previous bid for Allergan by $15 per share to about $191. Meanwhile, also on Tuesday, Reuters said that drug maker Actavis (ACT) plans to make a new merger offer to Allergan, and sources indicated to the news service that Allergan may be willing to consider an offer from Actavis if the bid is for more than $200 per share. WHAT'S NEW: Allergan estimated that its third quarter earnings per share would come in at $1.76-$1.78, versus analysts' consensus estimate of $1.48. The drug maker had previously provided Q3 EPS guidance of $1.44-$1.47. Allergan raised its fiscal 2014 EPS guidance to $6.20-$6.25 from $5.74-$5.80. Analysts' consensus estimate was $5.81. This is the fourth time that Allergan has raised its guidance this year. Allergan said that its markets have been strong around the world, while it is gaining market share in most categories. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Larry Biegelsen wrote that, in the wake of Allergan's guidance increase, the company's price to earnings multiple could expand to 22x its estimated 2016 earnings, up from its current multiple of 19x. In addition to the raised guidance, a potential accretive acquisition by Allergan and the possibility that it will be acquired make such an increase in the multiple "quite possible," Biegelsen contended. He kept an Outperform rating on the stock. WHAT'S NOTABLE: Allergan has reportedly held advanced talks about acquiring another company in the sector, Salix (SLXP), although CNBC's David Faber on October 2 reported that the talks between the two companies about a merger had "cooled considerably." PRICE ACTION: In late morning trading, Allergan rose fractionally to $191.06 while Valeant slid 1.5% to $124.08.
08:50 EDTSLXPAllergan shares have further upside, says Wells Fargo
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08:10 EDTAZNAstraZeneca reports Phase IIb study of benralizumab met primary endpoint
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October 8, 2014
08:42 EDTSLXPSalix shares should be bought on weakness, says Sterne Agee
After Reuters yesterday afternoon reported that Actavis (ACT) plans to make a new merger approach to Allergan (AGN), Sterne Agee believes that Salix's standalone value is $162. The firm expects the shares to reach that level following approval of its Xifaxan IBS-D drug after the February 2015 PDUFA date.
08:31 EDTSLXPSalix announces FDA granted final approval for UCERIS
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06:23 EDTSLXPActavis more inclined to pursue Allergan over Salix, says Citigroup
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October 7, 2014
15:21 EDTSLXPAllergan warms to sale as Actavis plans new approach, Reuters says
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07:48 EDTSLXP, AZNSalix reinstated with a Buy at Jefferies
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