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News Breaks | | | | January 16, 2013 | | 05:23 EDT |  | BIIB, ELN | Biogen Idec, Elan submit applications for first-line use of Tysabri
Biogen Idec (BIIB) and Elan Corporation (ELN) announced that they have submitted applications to the FDA and European Medicines Agency, or EMA, requesting updates to the Tysabri labels. The applications request an expanded indication that would include first-line use for people living with certain relapsing forms of multiple sclerosis, or MS, who have tested negative for antibodies to the JC virus, or JCV. A formal assessment of both applications is ongoing. These submissions are supported by risk stratification data and a risk algorithm that enables physicians and individuals living with MS to make informed decisions when considering treatment with Tysabri. If approved, a first-line label will allow all appropriate anti-JCV antibody negative patients to consider Tysabri early in the course of treatment, regardless of the level of disease activity or prior treatment history. Tysabri is a highly efficacious treatment that has been shown to slow disability progression by 42%-54% and reduce annualized relapse rates by 68%. | |
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News For BIIB;ELN From The Last 14 Days Check below for free stories on BIIB;ELN the last two weeks. |
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| June 17, 2013 | | 10:40 EDT | | ELN | Royalty says Elan holders can execute documents amid proceedings
 Subscribe for More Information | | | 08:54 EDT |  | BIIB | Biogen weekly MS drug scripts up 39%, says Citigroup
Subscribe for More Information | | | 08:23 EDT | | ELN | Elan holders do not approve Theravance/Elan royalty participation transaction
Subscribe for More Information | | | 06:27 EDT | | ELN | Elan announces royalty Pharma bid lapses in accordance with terms
At an Extroadinary General Meeting, the shareholders did not approve the Theravance Transaction, the AOP Transaction or the ELND005 Transaction. As shareholders have approved the Share Repurchase Program, and in accordance with the terms of the Royalty Pharma Offer, the Royalty Pharma Offer has now lapsed. As announced on June 14, Elan has now initiated a formal sale process. Royalty Pharma has been invited to participate in that process and to bring forward a new offer should it so desire. | | | 06:01 EDT | | ELN | Royalty Pharma expresses disappointment in letter to Elan board
Subscribe for More Information | | | June 14, 2013 | | 16:34 EDT |  | ELN | On The Fly: Closing Wrap
Stocks on Wall Street were lower after opening higher, but pulling back from its early levels following consumer confidence data that pulled back from recent six-year highs. The averages moved to their worst levels near mid-afternoon and closed off those levels, with the Dow logging the day's biggest losses. ECONOMIC EVENTS: In the U.S., the producer price index for May rose 0.5% from the prior month, versus expectations for a 0.1% month-over-month increase. Core PPI, which excludes the food and energy components, increased 0.1%, matching forecasts. The first quarter current account balance showed the deficit shrunk to $106.1B, versus consensus for the current account deficit to widen to $111.2B. May industrial production was flat, compared to expectations for it to grow 0.2%, while capacity utilization fell to 77.6% from the revised prior reading of 77.7%. The preliminary Reuters/University of Michigan consumer sentiment reading for June slipped to 82.7 from the prior 84.5 reading, where it had been forecast to hold steady. In Europe, employment in the euro zone currency bloc shrank 0.5% in the first three months of the year from the prior quarter, while the wider EU saw a 0.2% decline. EU consumer prices rose by 0.1% in May, putting the annual inflation rate at 1.4% compared to 1.2% in April, Eurostat said. COMPANY NEWS: Elan (ELN) shares gained $1.05, or 8.33%, to $13.66 after the company said it will explore a possible sale of the company "in light of the expressions of interest received to date." Royalty Pharma, which has been making a hostile takeover bid for the Irish drugmaker, was invited to participate in the process... Walter Energy (WLT) fell $2.56, or 17.43%, to $12.13 after a report by Forbes said the company withdrew a proposed $1.55B loan refinancing. The company later released a statement saying the proposed refinancing would not have raised additional capital and that the company has no material debt principal payments due until 2015. MAJOR MOVERS: Among the notable gainers was Restoration Hardware (RH), up $9.51, or 16.13%, to $68.47 after its quarterly results beat expectations and the company raised its fiscal year outlook. Also higher were shares of Charter Communications (CHTR), up $5.72, or 5.16%, to $116.61, and Time Warner Cable (TWC), up $7.78, or 8.09%, to $103.93 after CNBC's David Faber reported Liberty Media's (LMCA) CEO discussed a combination between Charter and Time Warner with Time Warner Cable's CEO. Among the noteworthy losers was Myriad Genetics (MYGN), down another $4.42, or 13.81%, or $27.59 the day after the Supreme Court ruled on gene patents. INDICES: The Dow was down 105.90, or 0.70%, to 15,070.18; the S&P was down 9.63, or 0.59%, to 1,626.73; the Nasdaq was down 21.81, or 0.63%, to 3,423.56. | | | 16:00 EDT |  | ELN | Options Update; June 14, 2013
Subscribe for More Information | | | 14:26 EDT | | ELN | Moody's revises Elan's outlook to developing
Subscribe for More Information | | | 13:40 EDT | | ELN | Royalty Pharma says Elan sales process a 'clear frustrating tactic'
Subscribe for More Information | | | 12:43 EDT | | ELN | On The Fly: Midday Wrap
Subscribe for More Information | | | | 10:50 EDT | | ELN | High option volume stocks: LSI SVNT ELN NEE MHR
Subscribe for More Information | | | 09:41 EDT |  | ELN | Elan spikes higher as formal sale process begins
The stock is currently up over 8.4% to $13.68. At that price, next resistance is at $14.80, the 52-week high. Support is at $13.31. | | | 09:36 EDT | | ELN | Active equity option families trading on open
Active equity option families trading on open according to Track Data: AAPL ELN GOOG TSLA CLF NFLX | | | 09:24 EDT | | ELN | On The Fly: Pre-market Movers
HIGHER: Groupon (GRPN), up 8% following upgrade at Deutsche Bank... SolarCity (SCTY), up 8% following upgraded to Outperform from Neutral at Credit Suisse... Smith & Wesson (SWHC), up 5.4% after earnings pre-announcement, share buyback plan... Elan (ELN), up 7.7% after starting formal sale process. UP AFTER EARNINGS: Restoration Hardware (RH), up 12.5%. LOWER: China Ming Yang Wind Power (MY), down 4% after CFO steps down... Myriad Genetics (MYGN), down another 4.9% after Supreme Court ruling yesterday on gene patents... News Corp. (NWSA), down 1.5% after CFO announces plan to retire following split. | | | 09:19 EDT | | ELN | Elan up 6% after starting formal sale process
| | | 09:18 EDT | | ELN | Elan to proceed with formal sale process, invites Royalty Pharma to join
Subscribe for More Information | | | 09:16 EDT | | ELN | Elan authorizes formal sale process to commence
| | | 07:13 EDT |  | ELN | Royalty expects most Elan shareholders to reject acquisition deals, Reuters says
Subscribe for More Information | | | 07:01 EDT | | ELN | Elan volatility up into Royalty Pharma takeover offer into shareholder meeting
Subscribe for More Information | | | 06:08 EDT | | ELN | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: The strong Q1 corporate profits may not be as good as they look, according to an analysis by the Wall Street Journal that shows that the extension of a big tax credit quietly boosted the profits of dozens of companies...Many investors have lowered their expectations for future inflation, a shift that could get the attention of Fed officials as they consider the course of their bond-buying program at a policy meeting next week. The Fed has a 2% inflation goal and doesn't want consumer prices to veer too much above or below that number over time, the Wall Street Journal reports...REUTERS: Proxy advisory firm Institutional Shareholder Services urged Clearwire (CLWR) shareholders to vote against majority shareholder Sprint Nextel’s (S) $3.40 per share offer for Clearwire stock it does not already own, Reuters reports...U.S. investment firm Royalty Pharma said it expects the majority of takeover target Elan's (ELN) shareholders will reject the Irish firm's own proposed acquisition deals at a shareholder meeting on Monday, Reuters reports...BLOOMBERG: Boeing (BA), coming back from the 787 Dreamliner’s three-month grounding, is moving closer to a further production increase that would reward investors by freeing up billions of dollars for dividends and buybacks, Bloomberg reports...Fiat (FIATY) and Chrysler Group CEO Sergio Marchionne is closing in on refinancing deals for both automakers ahead of a plan to merge the two companies, sources say, Bloomberg reports. | | |
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