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Stock Market & Financial Investment News

News Breaks
September 19, 2013
12:28 EDTRHHBY, BMRNBioMarin 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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November 24, 2014
09:20 EDTBMRNProsensa buyout not good for Sarepta, says Piper Jaffray
Piper Jaffray says it views the Prosensa (RNA) acquisition by BioMarin (BMRN) as bad for Sarepta (SRPT) since the company now has to compete with a "significantly more experienced and better funded orphan drug player." Piper adds that the takeover announced this morning has no impact on Sarepta's current drug filing process for its Duchenne muscular dystrophy drug eteplirsen. It keeps a Neutral rating on Sarepta with a $20 price target. The stock is trading up 9% in pre-market trading to $17.16 after BioMarin paid a healthy premium to acquire its peer Prosensa.
09:20 EDTBMRNBioMarin says Prosensa deal does not reflect deterioration of pipeline
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08:12 EDTBMRNSarepta rises after DMD competitor acquired at significant premium
Shares of Sarepta Therapeutics (SRPT) are up 9.5% to $17.23 in early pre-market trading after rival drugmaker Prosensa (RNA) agreed to be acquired by BioMarin (BMRN). BioMarin has offered to purchase all of the outstanding ordinary shares of Prosensa for $17.75 per share, for a total up front consideration of approximately $680M. In addition, two approximately $80M contingent milestones are payable for the approval of drisapersen in the U.S. and Europe. Drisapersen is Prosensa's lead exon-skipping drug candidate for treating Duchenne muscular dystrophy, or DMD. Sarepta is at work on eteplirsen, its own exon-skipping therapeutic candidate for the treatment of DMD. Prosensa closed trading Friday at $11.44 and are up about 65% to $18.90 in pre-market trading following the deal announcement.
06:44 EDTBMRNBioMarin to host conference call
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06:02 EDTBMRNBioMarin agrees to purchase all shares of Prosensa for $17.75 per share
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November 23, 2014
13:23 EDTRHHBYTetraphase said to explore sale, Bloomberg reports
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November 19, 2014
08:03 EDTRHHBYPTC to receive $10M milestone payment from Roche as SMA program advances
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07:52 EDTRHHBYInforma Business Information to hold a conference
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November 18, 2014
14:59 EDTRHHBYRanbaxy sues FDA for rescinding approval of Nexium, Valcyte copies, Reuters says
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11:22 EDTRHHBYTeva patent victory over Warner Chilcott, Roche affirmed
The U.S. Court of Appeals for the Federal Circuit ruled that a district court was correct to grant summary judgment to Teva (TEVA) in a patent dispute with Warner Chilcott and Roche (RHHBY) over patents related to osteoporosis drug risedronate.
November 17, 2014
05:30 EDTRHHBYInovio, Roche terminate collaboration for INO-5150
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November 14, 2014
14:53 EDTRHHBYCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
13:27 EDTRHHBYRoche reports FDA nod for Avastin in platinum-resistant recurrent ovarian cancer
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November 12, 2014
11:17 EDTRHHBYLeerink major pharma & biotech analysts hold analyst/industry conference call
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07:53 EDTBMRNLeerink to hold a tour
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07:22 EDTRHHBYAssociation of Molecular Pathology is holding annual meeting
2014 Annual Meeting of AMP is being held in National Harbor, Maryland on November 12-15.
November 11, 2014
15:43 EDTRHHBYLeerink major pharma & biotech analysts hold analyst/industry conference call
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November 10, 2014
16:07 EDTRHHBYUBS to hold a conference
UBS European Conference is being held in London, England on November 11-12.
10:04 EDTBMRNOn The Fly: Analyst Upgrade Summary
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06:02 EDTBMRNBioMarin upgraded to Buy from Neutral at Goldman
Goldman upgraded BioMarin to Buy based on increased confidence in BMN-111 for achondroplasia with expected proof-of-concept data in Q2 2015. The firm now sees a greater than 50% probability of success and peak sales of $900M. Price target raised to $104 from $78.
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