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Stock Market & Financial Investment News

News Breaks
September 19, 2013
12:28 EDTBMRN, RHHBYBioMarin off highs after Roche CEO downplays takeover report
Drug maker BioMarin (BMRN) is climbing after a website reported that giant pharmaceutical company Roche (RHHBY) is planning to raise money in order to buy BioMarin. However, BioMarin's stock is well of its highs after Roche's CEO told Bloomberg that his company wasn't raising money for an acquisition. WHAT'S NEW: Roche is "on the verge" of raising up to $15 billion in debt that it would use to an acquire BioMarin, dealReporter stated earlier today, citing unnamed sources. The debt raise is being led by UBS (UBS), the website added. But in an interview today with Bloomberg, Roche CEO Severin Schwan denied that his company is raising funds for an acquisition. However, he refused to comment on what he called "rumors" of a potential acquisition of BioMarin by Roche. Schwan did say, though, he would pursue a "good strategic opportunity" if he saw one, Bloomberg noted. TODAY'S PRICE ACTION: In early afternoon trading, BioMarin rose $1.30, or 1.7%, to $78.80, but was well off its high for the day of $80.67. Roche inched up 0.2% to $65.90.
News For BMRN;RHHBY From The Last 14 Days
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July 25, 2014
07:35 EDTRHHBYEMA recommends new indication for RoActemra in severe arthritis
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July 24, 2014
06:13 EDTRHHBYRoche reaffirms outlook for 2014
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06:12 EDTRHHBYRoche reports 1H core EPS CHF 7.57 vs. CHF 7.58 last year
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July 23, 2014
09:08 EDTRHHBYUltragenyx appoints Sunil Agarwal, M.D. as Chief Medical Officer
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08:10 EDTBMRNBioMarin, Sarah Cannon Research UK collaborate on EMBRACA clinical study
BioMarin Pharmaceutical and Sarah Cannon Research UK announced a collaboration to enroll patients in an ongoing Phase 3 clinical trial of its PARP inhibitor, BMN 673, for the treatment of hereditary breast cancer with a BRCA mutation. This ongoing Phase 3 trial has recently been named EMBRACA. Sarah Cannon Research UK enrolled the first patient outside of the United States, expanding the trial internationally.
07:44 EDTBMRNBioMarin survey shows strong Vimizim demand, says Leerink
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July 22, 2014
05:21 EDTRHHBYRoche announces Genentech Avastin granted priority review by FDA
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July 21, 2014
07:11 EDTRHHBYInternational Society of DNA Vaccines to hold a conference
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06:43 EDTRHHBYGrowing market for hepatitis-C treatment prompts legal scramble, WSJ says
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July 20, 2014
15:42 EDTRHHBYRoche not looking for big acquisitions, Reuters says
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July 17, 2014
17:42 EDTRHHBYCepheid says Roche patent suit will not have material adverse impact on results
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July 16, 2014
11:23 EDTRHHBYRoche Alzheimer drug shows mixed results in trial, NYT says
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06:26 EDTRHHBYBristol-Myers lung cancer trials being underestimated, says Citigroup
After building a statistical model of Bristol-Myers' two critical registration trials for Opdivo in lung cancer, Citigroup believes the market is "materially" underestimating both Phase III trials. Citi says potential Opdivo FDA approval in 2015 in lung cancer would give Bristol-Myers an up to two year lead time versus Merck (MRK) and Roche (RHHBY). The firm estimates 2023 Opdivo revenue at $7B and reiterates a Buy rating on Bristol with a $60 price target.
July 15, 2014
10:56 EDTBMRNFed calls small cap social media, biotech valuations 'stretched'
The Board of Governors of the Federal Reserve in its Monetary Policy Report dated today said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year." A later part in the document reads, "Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms." The specific targeting of sectors by the Fed seems to be having an impact on stocks in the social media and biotech spaces. Shares of Yelp (YELP) are down over 5% to $67.51, while Twitter (TWTR) and Facebook (FB) are each down 2%. Celgene (CELG) and Amgen (AMGN) are leading the biotech space lower with pullbacks of greater than 1%.
05:37 EDTRHHBYGenentech Avastin granted priority review by FDA
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July 14, 2014
11:20 EDTRHHBYExelixis seen as potential target for Roche, TheStreet says
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