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June 23, 2014
04:55 EDTBMRN, BMRN, BMRN, BMRN, BMY, BMY, BMY, BMY, DNA, DNA, DNA, DNA, SNY, SNY, SNY, SNY, OVAS, OVAS, OVAS, OVAS, RHHBY, RHHBY, RHHBY, RHHBY, ADXS, ADXS, ADXS, ADXS, CPXX, CPXX, CPXX, CPXX, RARE, RARE, RARE, RARE, SGMO, SGMO, SGMO, SGMO, BLUE, BLUE, BLUE, BLUE, MRK, MRK, MRK, MRKBIO to hold a convention
BIO International Convention to be held in San Diego on June 23-26.
News For BMRN;BLUE;SGMO;RARE;CPXX;ADXS;RHHBY;OVAS;SNY;DNA;BMY;MRK From The Last 14 Days
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August 26, 2014
08:01 EDTMRKPfizer, Merck to collaborate on study evaluating anti-cancer combination regimen
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August 25, 2014
16:13 EDTADXS, MRK, RHHBYOn The Fly: Closing Wrap
Stocks began the session in positive territory and proceeded to tack on gains throughout the morning. Despite a disappointing report on new home sales in July, the S&P surpassed the 2,000 level for the first time before noon. The market pared its gains shortly after the milestone was reached and drifted for the remainder of the session on light volume, as trading activity may be restrained all week ahead of the Labor Day weekend. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity index jumped to 0.39 in July from an upwardly revised 0.21 in June. Markit's preliminary August services PMI came in at 58.5, which was down from a prior reading of 60.8 but above the 58.0 consensus projection. New home sales dropped 2.4% to a 412K rate in July, missing expectations for them to have risen to a 430K annualized rate. COMPANY NEWS: Shares of InterMune (ITMN) surged $19.05, or 35.41%, to $72.85 after the company agreed to be acquired by Roche (RHHBY) for $74.00 per share in an all-cash transaction. The deal announcement comes less than two weeks after Bloomberg reported that Roche, along with big pharma peers Sanofi (SNY) and GlaxoSmithKline (GSK), had made takeover bids for the smaller drugmaker. A number of other biotech companies gained following the deal announcement, including bigger names like Gilead (GILD) and Celgene (CELG) and smaller ones such as Achillion Pharmaceuticals (ACHN) and Receptos (RCPT)... Burger King (BKW) shares rose $5.29, or 19.51%, to $32.40 after the company confirmed it is in talks regarding a potential strategic transaction with Canadian donut chain Tim Hortons (THI). Shares of Tim Horton's trading in New York also gained $11.88, or 18.91%, to $74.72 following the confirmation of news first reported by The Wall Street Journal. MAJOR MOVERS: Among the other notable gainers was Advaxis (ADXS), which advanced 75c, or 23.08%, to $4.00 after announcing it has entered into a clinical trial collaboration agreement with Merck (MRK). Also rising were shares of Comtech (CMTL), which jumped $1.70, or 4.84%, to $36.81 after Reuters said the company is working with Citigroup to explore a potential sale. Among the noteworthy losers was Chinese internet and software company Qihoo 360 Technology (QIHU), which fell $7.88, or 7.74%, to $93.87 despite reporting second quarter earnings and revenue that beat analysts' estimates. Also lower were shares of GrubHub (GRUB), which fell $3.60, or 8.42%, to $39.16 after filing to sell 10M shares of common stock. INDEXES: The Dow gained 75.65, or 0.44%, to 17,076.87, the Nasdaq rose 18.80, or 0.41%, to 4,557.35, and the S&P 500 advanced 9.54, or 0.48%, to 1,997.94.
12:19 EDTRHHBY, SNYOn The Fly: Midday Wrap
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11:48 EDTSNYSanofi and Regeneron co-host a conference call
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10:40 EDTRHHBY, SNYBiotechs rise after InterMune acquired by Roche
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10:02 EDTRHHBYRoche unit launches PD-LI antibody
Spring Bioscience, a member of the Roche Group, announced the launch of its PD-L1 rabbit monoclonal immunohistochemistry antibody. This new PD-L1 clone was developed for Roche/Genentech's anti-PD-L1 immunotherapy development program. The SP142 antibody is a component of the clinical trial assay designed by Ventana Medical Systems and used in early and late stage clinical trials for various tumor types including non-small cell lung cancer and urothelial bladder cancer. Internal comparison studies performed at Spring demonstrated that the PD-L1 antibody outperformed other commercially available PD-L1 antibodies.
09:11 EDTRHHBY, MRK, ADXSOn The Fly: Pre-market Movers
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08:24 EDTRHHBYRoche to hold a conference call
CEO Schwan and CFO Hippe discuss the acquisition of InterMune on a conference call to be held on August 25 at 9 am. Webcast Link
08:23 EDTRHHBYRoche acquisition makes sense, says Bernstein
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07:11 EDTRHHBYInterMune volatility expected to move on Roche acquiring for $8.3B
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05:17 EDTADXS, MRKAdvaxis, Merck enter clinical trial collaboration agreement
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August 24, 2014
20:27 EDTRHHBYRoche drops pursuit for remainder of Japan's Chugai, Bloomberg says
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13:41 EDTRHHBYRoche to acquire InterMune for $74.00 per share
Roche (RHHBY) and InterMune (ITMN) announced they have entered into a definitive merger agreement for Roche to fully acquire InterMune at a price of $74.00 per share in an all-cash transaction. This corresponds to a total transaction value of $8.3B on a fully diluted basis. This offer represents a premium of 38% to InterMune's closing price on August 22 and a premium of 63% to InterMune's unaffected closing price on August 12. The merger agreement has been approved by the boards of InterMune and Roche. Under the terms of the merger agreement, Roche will commence a tender offer no later than August 29 to acquire all outstanding shares of InterMune common stock, and InterMune will file a recommendation statement containing the unanimous recommendation of the InterMune board that InterMune's shareholders tender their shares to Roche. The transaction is expected to be neutral to core earnings per share in 2015 and accretive from 2016 onwards. The acquisition of InterMune, a Brisbane, California based biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and fibrotic diseases, will allow Roche to broaden and strengthen its respiratory portfolio globally. Roche plans a smooth transition of InterMune employees and operations into the Roche organization, ensuring readiness for an expected launch of pirfenidone in the US in 2014. The closing of the transaction is expected to take place in 2014.
August 22, 2014
12:39 EDTBMY, SNYThese five companies will benefit from increased ALS awareness, MarketWatch says
A recent surge in funding for Lou Gehrig's disease, or ALS, caused by the Ice Bucket challenge that is widespread on social media outlets, will benefit five pharmaceutical companies that are involved in the development of a cure for ALS, according to MarketWatch. The companies that are or have been involved in developing a treatment for ALS include Biogen Idec (BIIB), Avanir Pharmaceuticals (AVNR), Isis Pharmaceuticals (ISIS), Sanofi (SNY), and Bristol-Myers Squibb (BMY), MarketWatch added. Reference Link
August 21, 2014
13:32 EDTBMYBristol-Myers, Pfizer announce approval of Eliquis for treatment of DVT, PE
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05:42 EDTSNYIllumina announces strategic partnership with AstraZeneca, Sanofi, Janssen
Illumina (ILMN) announced it has formed collaborative partnerships with leading pharmaceutical companies to develop a universal next-generation sequencing, or NGS,-based oncology test system. The system will be used for clinical trials of targeted cancer therapies with a goal of developing and commercializing a multi-gene panel for therapeutic selection, resulting in a more comprehensive tool for precision medicine. Initial strategic partners include AstraZeneca (AZN), Janssen Biotech, a Johnson & Johnson (JNJ) company, and Sanofi (SNY). Illumina is working with the strategic partners to develop assays that detect and measure multiple variants simultaneously to support partners’ clinical trials, with the objectives of securing regulatory agency approvals and test commercialization. In parallel, Illumina is working with key thought leaders to set standards for NGS-based assays in routine clinical oncology practice, as well as to define regulatory frameworks to enable this new testing paradigm. Together, Illumina and its strategic partners aim to transition from single-analyte companion diagnostics to panel-based assays that select for “companion therapeutics.”
August 20, 2014
08:03 EDTBMYBristol-Myers Pfizer to present new Eliquis data
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08:02 EDTBMYBristol-Myers, Celgene enter collaboration agreement for OPDIVO, ABRAXANE
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August 19, 2014
16:46 EDTSNYFDA approves Genzyme Cerdelga capsules
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08:39 EDTCPXXCelator Pharmaceuticals initiates PK/PD clinical study of CPX-351
Celator Pharmaceuticals announced that the first patient has been enrolled in a Phase 2 pharmacokinetic and pharmacodynamics, or PK/PD, study evaluating the effects of CPX-351 Liposome Injection on cardiac repolarization in adult patients with acute hematologic malignancies, including acute myeloid leukemia, or AML, acute lymphoblastic leukemia, or ALL, and myelodysplastic syndrome, or MDS. This study will also include patients with moderate baseline hepatic and renal impairment, extending the range of safety and pharmacokinetic observations to this important group of patients.
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