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Stock Market & Financial Investment News

News For BIIB;RHHBY;GSK From The Last 14 Days
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July 29, 2015
08:00 EDTGSKGlaxoSmithKline reports Q2 global pharmaceuticals revenue GBP2.98B, down 12%
Reports Q2 HIV revenue GBP559M, up 59%. Reports Q2 Pharmaceuticals revenue GBP3.54B, down 6%, and vaccines revenue GBP814M, up 11%. Consumer healthcare sales were GBP1.51B, up 51% year over year.
07:58 EDTGSKGlaxoSmithKline sees FY16 core EPS to grow in double digits
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07:57 EDTGSKGlaxoSmithKline reaffirms FY15 core EPS declining at high-teens percentage rate
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07:54 EDTGSKGlaxoSmithKline reports Q2 adjusted EPS 17.3p, consensus 16.78p
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06:04 EDTBIIBStocks with implied volatility below IV index mean; BIIB XOMA
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July 28, 2015
07:20 EDTBIIBBrookings Institute to hold a public meeting
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07:08 EDTRHHBYRoche introduced several diagnostic testing platforms at the AACC 2015
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06:06 EDTBIIBStocks with implied volatility below IV index mean; BIIB GOOG
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July 27, 2015
17:31 EDTGSKRadius Health hires Dr. Lorraine Fitzpatrick as Chief Medical Officer
Radius Health (RDUS) announced that it has hired Dr. Lorraine A. Fitzpatrick as Chief Medical Officer of the Company. Dr. Fitzpatrick was previously Medicine Development Leader of an international clinical development team for Denosumab at GlaxoSmithKline (GSK), responsible for clinical development, regulatory, manufacturing, commercial, operations, epidemiology, and global health outcomes. Previously, Dr. Fitzpatrick led the clinical development of novel agents to treat musculoskeletal diseases and women's health at GlaxoSmithKline. Before joining GlaxoSmithKline, Dr. Fitzpatrick was Executive Director at Amgen, Inc. where she worked in the fields of osteoporosis and oncology.
10:40 EDTBIIBIsis 'most obvious' Biogen takeover target, TheStreet's Feuerstein says
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10:29 EDTBIIBOptions with decreasing implied volatility
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10:00 EDTBIIBOn The Fly: Analyst Downgrade Summary
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08:38 EDTBIIBAnalysts divided on Biogen following $85 selloff
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08:14 EDTBIIBBiogen weakness creates attractive entry point, says RBC Capital
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08:03 EDTGSKNephroGenex names Jaikrishna Patel as Chief Medical Officer
NephroGenex (NRX) announced the appointment of Dr. Jaikrishna Patel to the position of Chief Medical Officer. Dr. Patel will help guide the companyís Phase 3 PIONEER program with oral Pyridorin for the treatment of diabetic nephropathy, and the development of an intravenous formulation of Pyridorin for acute kidney injury. Patel has held numerous positions of increasing responsibility at GlaxoSmithKline (GSK) and its predecessor companies, most recently serving as Vice President of Cardiovascular and Cardiovascular Metabolism, Global Regulatory Affairs.
07:51 EDTBIIBBiogen upgraded on valuation at Bernstein
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07:50 EDTBIIBBiogen price target lowered to $330 from $422 at UBS
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07:34 EDTBIIBBiogen enters collaboration with Parkinson's Institute and Clinical Center
Biogen and the Parkinsonís Institute and Clinical Center today announced the formation of a strategic alliance focused on enhancing the understanding of the underlying biology of Parkinsonís disease and the creation of novel tools and programs that could accelerate research and the development of new PD treatments. The agreement will combine the unique clinical expertise and data of the Institute with Biogenís focus on neurodegenerative disease and approach to clinical development. Under the terms of the agreement, Biogen will fund research activities by the Institute and provide strategic insight into research design, data analysis, and program support.
07:04 EDTBIIBBiogen downgraded on 'diminished' growth prospects at Baird
Baird analyst Brian Skorney downgraded Biogen to Neutral from Outperform and cut his price target for shares to $316. The stock closed Friday down $85.02 to $300.03. Skorney sees "diminished" growth prospects for the company and wants greater confidence in management's guidance before recommending the stock. He admits, however, that his downgrade "may be too little, too late." JPMorgan analyst Cory Kasimov this morning called Biogen's risk/reward compelling following Friday's selloff.
06:39 EDTBIIBBiogen shares look oversold, says JPMorgan
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06:05 EDTBIIBBiogen downgraded to Neutral from Outperform at Baird
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July 24, 2015
16:22 EDTBIIBOn The Fly: Top stock stories for Friday
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12:54 EDTBIIBOn The Fly: Top stock stories at midday
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11:50 EDTBIIBBiogen downgraded to Market Perform from Outperform at BMO Capital
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11:21 EDTBIIBBiogen may retest low of the day, levels to watch
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10:23 EDTBIIBBiogen price target lowered to $361 from $410 at Piper Jaffray
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09:59 EDTBIIBBiogen breaks support intraday, levels to watch
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09:36 EDTBIIBActive equity options trading on open
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09:30 EDTBIIBBiogen CEO says will be 'aggressive,' will 'not be shy' about right M&A
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09:28 EDTBIIBBiogen drops sharply after earnings
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09:14 EDTBIIBOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Amazon (AMZN), up 20.7%... Pandora (P), up 10.3%... Juniper (JNPR), up 9.1%... Visa (V), up 6.7%... Starbucks (SBUX), up 5%... Skyworks (SWKS), up 2.6%... American Airlines (AAL), up 2.1%. ALSO HIGHER: SolarCity (SCTY), up 2.5% after being upgraded to Outperform from Neutral at Baird. DOWN AFTER EARNINGS: Tripadvisor (TRIP), down 8.5%... Biogen (BIIB), down 14.1%.
08:54 EDTBIIBBiogen sees limited U.S. patient growth for Tecfidera in rest of FY15
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08:48 EDTBIIBTecfidera U.S. switch rates below expectations in Q2, EVP says
In the U.S. in Q2, Tecfidera total market growth and switch rates remained lower than Biogen's original expectations and appeared to have returned to historical averages typically seen in the market before launch, said EVP of Global Commercial Operations Tony Kingsley. "We believe the safety event reported in late 2014 has created greater caution on the part of both physicians and patients about switching to orals. Our U.S. market research indicates a moderation in physician intent to prescribe, though in Q2 Tecfidera continued to gain patients in the U.S.," Kingsley said. Tecfidera patient growth for Europe "as a whole was robust," though total European Tecfidera revenue was dampened both by the change of price and softer demand in Germany, the executive added.
08:44 EDTBIIBBiogen CEO says expected reacceleration of Tecfidera not seen in Q2
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07:14 EDTBIIBBiogen drops 6% to $362 after Q2 revenue miss, guidance cut
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07:13 EDTBIIBBiogen says TYSABRI did not demonstrate impact on change in infarct volume
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06:54 EDTBIIBBiogen cuts FY15 non-GAAP EPS $15.50-$15.95 from $16.60-$17.00, consensus $16.63
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06:52 EDTBIIBBiogen reports Q2 total multiple sclerosis product sales $2.1B
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06:50 EDTBIIBBiogen reports Q2 non-GAAP EPS $4.22, consensus $4.10
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05:04 EDTGSKAgenus reports GSK Malaria vaccine receives positive opinion from CHMP of EMA
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July 23, 2015
15:05 EDTBIIBNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include AbbVie (ABBV), consensus $1.06... Biogen (BIIB), consensus $4.10... Simon Property Group (SPG), consensus $2.36... State Street (STT), consensus $1.37... V.F. Corp. (VFC), consensus 36c... Johnson Controls (JCI), consensus 91c... American Airlines (AAL), consensus $2.60... Rockwell Collins (COL), consensus $1.30... Cabot Oil & Gas (COG), consensus 4c... Lear (LEA), consensus $2.48... Encana (ECA), consensus (15c).
13:42 EDTBIIBBiogen technical remarks ahead of earnings
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08:03 EDTBIIBBiogen update 'promising,' says RBC Capital
RBC Capital says that there were negative aspects to yesterday's update on the trial results of Biogen's Alzheimer's treatment. Specifically, the 6 mg version of the drug only slightly improved patients' performance on one cognition test compared with the most recently chosen group of ten patients taking placebos, and did not improve their performance at all on another cognition test. However, RBC says that the drug did improve patients' performance on both tests versus the 20+ patients who were in a previous placebo group. Additionally, the firm reports that the cognition test on which the patients taking the drug outperformed versus the newer placebo group is more widely accepted than the other cognition test. RBC sees a 50%-60% chance that the drug will succeed.
07:00 EDTBIIBBiogen July weekly volatility elevated into Q2 and outlook
Biogen July weekly call option implied volatility is at 77, August is at 37, September is at 34; compared to its 52-week range of 23 to 46, suggesting large near term price movement into the expected release of Q2 results on July 24.
06:27 EDTRHHBYRoche CEO expects biosimilars in Europe by late 2017, Reuters reports
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05:46 EDTRHHBYRoche expects FY15 sales to grow low- mid-single digits
Expects FY15 core EPS to grow ahead of sales at constant exchange rates. Roche expects to further increase dividend in Swiss francs.
05:45 EDTRHHBYRoche reports 1H15 core EPS CHF 7.22 vs. 7.57 last year
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July 22, 2015
10:59 EDTBIIBBiogen drops after reporting data on Alzheimer's drug
The shares of Biogen (BIIB) are falling after the company released data on its Alzheimer's treatment candidate, aducanumab. Peer Eli Lilly (LLY) also reported data this morning on its own experimental Alzheimer's drug, solanezumab. BIOGEN: Biogen's data "does not inspire confidence," Piper analyst Joshua Schimmer wrote in a note to investors today. The 6 mg dose of the drug performed similarly to the 1mg dose, and was barely better than the placebo, the analyst stated. The cognitive and functional performance of the patients who took the 6 mg dose did not improve by a statistically significant amount, while the results of patients taking the other doses were "noisy,"Schimmer stated. Additionally, indications of excess fluid in the brain was observed in a significant number of patients, representing an additional problem for the treatment, the analyst believes. The data "is far from inspiring confidence" and makes the outlook for aducanumab "more speculative than ever," Schimmer contended. LILLY: Also this morning, Eli Lilly presented results from a pre-specified secondary analysis of several Phase 3 studies at the Alzheimer's Association International Conference. According to the company, the results suggest the treatment effect of solanezumab was preserved within a pre-specified amount in patients with mild Alzheimer's disease who received solanezumab earlier in the disease compared to patients who began treatment at a later point. Treatment differences in cognition and function between early-start and delayed-start groups at the end of the placebo-controlled period were preserved at the primary time point of 108 weeks within a pre-defined margin. Treatment differences in cognition and function between early-start and delayed-start groups at the end of the placebo-controlled period were also preserved at an additional time point of 132 weeks within a pre-defined margin.The differences at 108 weeks and at at 132 weeks remained statistically significant, the company said. PRICE ACTION: In morning trading, Biogen fell 3% to $397.43 while Eli Lilly shares rose 0.6% to $86.11.
10:01 EDTBIIBOn The Fly: Analyst Downgrade Summary
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09:28 EDTBIIBBiogen downgraded to Neutral at Piper Jaffray after Alzheimer's data
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09:22 EDTBIIBBiogen downgraded to Neutral from Overweight at Piper Jaffray
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09:07 EDTBIIBOn The Fly: Pre-market Movers
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07:19 EDTBIIBBiogen drops 4.8% to $390 after reporting Alzheimer's drug data
06:50 EDTBIIBBiogen's Alzheimer's candidate shows reduction of clinical decline
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July 21, 2015
07:05 EDTRHHBYOphthotech names Shima as Chief Scientific Officer, Bjarke as CCO
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06:24 EDTBIIBPiper expects 'stronger, bolder' move from Biogen
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06:12 EDTBIIBBiogen implied volatility of 50 at upper end of index
July 20, 2015
07:33 EDTRHHBYInternational AIDS Society to hold a conference
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07:32 EDTBIIBAlzheimer's Association to hold a conference
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05:13 EDTRHHBYRoche expands HIV Global Access Program
Roche announced an expansion to the HIV Global Access Program to include early infant HIV diagnostic testing for low and middle income countries. Roche, in partnership with the Joint United Nations Programme on HIV/AIDS, or UNAIDS, the Clinton Health Access Initiative, or CHAI, UNITAID, the U.S. President's Emergency Plan For AIDS Relief, or PEPFAR, and the Global Fund to fight AIDS, TB and Malaria, is committed to working with the Diagnostics Access Initiative by providing state-of-the-art solutions to achieve the 90-90-90 goal set forth by UNAIDS. Announced in 2014, the HIV Global Access Program is Roche's most recent addition to the AmpliCare Initiative, which launched in 2002 in South Africa.
July 16, 2015
08:03 EDTGSKGlaxoSmithKline expects to ship 32M-38M flu vaccines over 2015-16 season
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July 15, 2015
07:58 EDTBIIBAnalysts break down impact of $7.2B Receptos buyout
After Celgene (CELG) announced last night that the company has agreed to acquire Receptos (RCPT) for $232 per share in cash, or a total of about $7.2B net of cash acquired, research firms have chimed in with their opinions on how the proposed deal may impact others in the biotech space. Receptos key asset is Ozanimod, which is being studied in Phase III trials for relapsing multiple sclerosis and ulcerative colitis. DERIVATIVE CALLS: Piper Jaffray analyst Edward Tenthoff told investors that he views Celgene's deal for Receptos as good for Arena Pharmaceuticals (ARNA). The analyst notes that Arena's APD334 is already showing dose-dependent decreases in circulating lymphocyte counts and that the company will initiate Phase II studies in ulcerative colitis and Crohn's disease this year. Tenthoff reiterates an Overweight rating and $7.50 price target on Arena, which has a market capitalization around $1B and closed yesterday up 8c to $4.47. In its own note to investors this morning, Nomura said Celgene's deal could put downward pressure on Biogen's (BIIB) long-term multiple sclerosis estimates. Nomura's M. Ian Somaiya contended that one-year Phase II efficacy data for Ozanimod looked as good as Novartisís (NVS) Gilenya and Biogen's Tecfideraís Phase III at year 2. Somaiya also wondered if rival Gilead (GILD) could be "looking for something bigger" than Receptos for its own deal, telling investors that the firm views Incyte (INCY) as Gilead's most likely takeout target. Incyte's shares closed up $4.46 at $117.46 yesterday, giving the company a market cap of about $20B. RIVAL BID?: Wedbush analyst Liana Moussatos believes another bidder may seek to acquire Receptos, noting that she previously estimated Receptos could be valued at $348 per share, or about $10.9B, in a buyout. Moussatos noted that Celgene said it expects annual peak sales for Ozanimod to reach about $4B-$6B for RMS and UC, making its acquisition price of $7.2BN only a bit more than about 1X peak sales without accounting for other possible indications or the rest of its pipeline. Moussatos told investors she sees "plenty" of potential upside to justify a rival bidder stepping in and reiterated the firm's Outperform rating on Receptos shares. PRICE ACTION: In pre-market trading, Receptos rose 10% to $228.61 while Gilead gained 1.4% to about $119 per share.
05:57 EDTGSKGlaxoSmithKline, Francis Crick Institute to collaborate on range of new drugs
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