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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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October 28, 2014
11:14 EDTRHHBYRoche unit announces collaboration pact with ImmunoGen
Ventana Medical Systems, a member of the Roche Group (RHHBY), announced it has entered into an agreement with ImmunoGen (IMGN) to collaborate on the development of biomarker assays and a companion diagnostic immunohistochemistry test for one or more of ImmunoGen's product candidates. Under this agreement, the companies have created an initial test for folate receptor alpha, or FRa, that is being used in early trials of IMGN853, ImmunoGen's FRa-targeting antibody-drug conjugate.
October 27, 2014
20:54 EDTRHHBYLeerink's major pharma analyst holds an analyst/industry conference call
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07:20 EDTRHHBYAmerican Association of Blood Banks to hold annual meeting
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October 24, 2014
12:03 EDTRHHBYRoche reports CHMP recommends label update for Esbriet
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07:55 EDTBMRNBioMarin shares poised to rally, says RBC Capital
RBC Capital expects BioMarin's shares to rally into and through 2015, driven by 4-5 key pipeline events. The firm is especially upbeat on the outlook for Phase II achondroplasia data in 2Q15, as it thinks the product could show promising efficacy in dwarfism. The firm raised its price target on the name to $87 from $77 and keeps an Outperform rating on the shares.
07:44 EDTBMRNBioMarin price target raised to $87 from $74 at UBS
UBS raised its price target on BioMarin to $87 from $74 following its Q3 report and the firm believes the price target could be conservative based on the company's pipeline and its lower risk businesses. UBS reiterates its Buy rating on BioMarin shares.
05:50 EDTBMRNBioMarin remains a top mid cap pick at Piper Jaffray
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October 23, 2014
16:17 EDTBMRNBioMarin lowers FY14 adjusted net loss to ($65M)-($50M) from ($80M)-($60M)
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16:15 EDTBMRNBioMarin raises FY14 revenue view to $700M-$710M from $680M-$700M
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16:13 EDTBMRNBioMarin reports Q3 adjusted EPS (16c), consensus (23c)
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15:30 EDTBMRNNotable companies reporting after market close
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October 21, 2014
09:48 EDTBMRNShire could target BioMarin, TheStreet's Feuerstein says
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07:15 EDTRHHBYFDA to hold workshop on breast cancer drug development
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October 20, 2014
12:37 EDTRHHBYOn The Fly: Midday Wrap
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07:19 EDTRHHBYIBC Life Sciences to hold a conference
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07:11 EDTRHHBYAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
07:10 EDTRHHBY, BMRNAmerican Society of Human Genetics to hold annual meeting
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07:06 EDTRHHBYNewLink announces worldwide license agreement for NLG919 development
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07:04 EDTRHHBYRoche approval would be positive for TESARO, says Jefferies
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