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News Breaks
January 24, 2014
07:36 EDTBMY, AZNBristol-Myers sees AstraZeneca deal closing in Q1
In December, the company announced plans to sell its global diabetes business that was part of its collaboration with AstraZeneca (AZN), enabling its continued evolution to a specialty care BioPharma company. Under terms of the agreement, AstraZeneca will make an upfront payment of $2.7B to Bristol-Myers Squibb (BMY), with potential regulatory- and sales-based milestone payments of up to $1.4B and will make royalty payments based on net sales through 2025. Of the $1.4B milestone payments, the company has already earned a $0.6B milestone payment with the recent approval of Farxiga in the U.S. that will be paid shortly after the closing of the transaction. In addition, AstraZeneca will make payments of up to $225M if and when certain assets are subsequently transferred. The transaction is expected to be accretive to non-GAAP EPS in the near-term and likely dilutive to non-GAAP EPS toward the latter part of the decade. The company anticipates that the transaction will close in 1Q14.
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April 21, 2014
09:00 EDTAZNAstraZeneca rises 7.1%
AstraZeneca is up 7.1%, or $4.49, to $67.98
07:47 EDTAZNPfizer unlikely to have been interested in AstraZeneca, says Bernstein
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07:21 EDTBMYFDA Pediatric Advisory Committee to hold a meeting
The Committee discusses pediatric-focused safety reviews including MDT's Activa Dystonia Therapy, (BAX's Advate and Tisseel, NVS' Famvir, Tibotec's (JNJ subsidiary) Intelence, UCB Pharma's Keppra, MRK's Maxalt, BAYRY's Natazia, Digestive Care's Pertzye, JNJ's Prezista, BMY's Reyataz, SNY's Sklice, PFE's Torisel, Aptalis' Ultresa, and GILD's Viread in a meeting being held in Bethesda, Maryland on April 21 at 8 am. Webcast Link
07:06 EDTAZNPfizer bid for AstraZeneca 'looks highly probable,' says Citigroup
Citigroup believes Pfizer's (PFE) reported takeover interest in AstraZeneca (AZN) "looks highly probable." Citi thinks a deal would fit Pfizer's strategic goals for immunotherapy and autoimmune disease and would also be financially attractive. The firm expects Pfizer to "aggressively" approach AstraZeneca a second time.
06:47 EDTAZNAstraZeneca volatility elevated, said to have been approached by Pfizer – report
AstraZeneca (AZN) implied volatility is expected is to move on Pfizer (PFE) is said to have approached to propose a $101B takeover, says the Sunday Times. Overall option implied volatility of 20 is above its 26-week average of 18 according to Track Data, suggesting large price movement.
06:40 EDTAZNPfizer volatility flat said to be considering bid for AstraZeneca – report
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April 20, 2014
20:37 EDTAZNPfizer said to be considering GBP60B bid for AstraZeneca, Sunday Times says
Drug giant Pfizer (PFE) is said to have approached AstraZeneca (AZN) to propose a GBP60B takeover of the U.K company, says the Sunday Times. Informal discussions have recently taken place, say sources, but AstraZeneca is believed to be resisting Pfizer’s approach, added the Sunday Times. Reference Link
April 19, 2014
11:12 EDTAZN, BMYLeerink's pharma and biotech analysts hold an analyst/industry conference call
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April 15, 2014
08:23 EDTBMYLeerink's pharma and biotech analysts hold an analyst/industry conference call
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08:19 EDTAZN, BMYLeerink's pharma and biotech analysts hold an analyst/industry conference call
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06:32 EDTAZN, BMYPatients paying much more for specialty drugs, NY Times says
The amount that patients with certain diseases must pay for specialty drugs has increased significantly, a research firm reported, according to The New York Times. Meanwhile, consumers' use of health care increased in 2013 for the firm time in three years, the newspaper quoted the firm, the IMS Institute for Healthcare Informatics, as saying. Publicly traded drug makers 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). Publicly traded health insurers include AMERIGROUP (AGP), Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH), WellCare (WCG) and WellPoint (WLP).Reference Link
April 14, 2014
08:15 EDTBMYBristol-Myers submits NDA for Reyataz-cobicistat combo for HIV-1
Bristol-Myers Squibb (BMY) announced the submission of a new drug application, or NDA, on April 4 to the FDA for a fixed-dose combination of atazanavir sulfate, a protease inhibitor marketed as Reyataz, and cobicistat, an investigational pharmacokinetic enhancer, or boosting agent, that can increase the level of certain HIV-1 medicines in the blood and make them more effective. Bristol-Myers Squibb is seeking approval of the fixed-dose combination tablet for use in combination with other antiretroviral agents for the treatment of HIV-1 infection. If approved, atazanavir sulfate and cobicistat could offer patients living with HIV-1 a single tablet that eliminates the need to take a boosting agent in a separate tablet. Cobicistat is being developed by Gilead Sciences (GILD). Under the terms of a previously announced agreement, Bristol-Myers Squibb and its affiliates are responsible for the formulation, manufacturing, registration, distribution and commercialization of the atazanavir sulfate and cobicistat fixed-dose combination product worldwide. Gilead retains sole rights for the manufacture, development and commercialization of cobicistat as a stand-alone product and for use in combination with other agents.
April 10, 2014
07:04 EDTBMYBristol-Myers presents Phase III data on all-oral Daclatasvir and Asunaprevir
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April 9, 2014
11:43 EDTBMYGilead defended by analysts after recent pullback
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07:23 EDTBMYEuropean Association for the Study of the Liver to hold annual meeting
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April 8, 2014
11:03 EDTAZN, BMYPiper Jaffray's biopharm analyst holds an analyst/industry conference call
Biopharm Analyst Schimmer discusses PCSK9 Inhibitors and other atherosclerosis approaches on an Analyst/Industry conference call. Relevant companies AEGR, ALNY, AMGN, ARNA, AZN, BMY, CBST, LLY, ESPR, GSK, ICPT, ISIS, MNKD, MRK, OREX, PFE, REGN, RHHBY, SNY and VVUS may be included on the Analyst/Industry conference call to be held on April 10 at 3 pm.
April 7, 2014
16:34 EDTAZNMyriad Genetics submits premarket approval to FDA for BRACAnalysis
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08:06 EDTBMYBristol-Myers submits NDAs for Daclatasvir and Asunaprevir to FDA
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07:27 EDTAZNAmerican Association of Cancer Research to hold annual meeting
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05:48 EDTAZNMyriad Genetics submits premarket approval to FDA for BRACAnalysis
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