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Stock Market & Financial Investment News

News Breaks
January 24, 2014
07:36 EDTAZN, BMYBristol-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.
News For BMY;AZN From The Last 14 Days
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September 2, 2015
17:20 EDTBMYBristol-Myers to hold a conference call
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10:00 EDTAZNOn The Fly: Analyst Upgrade Summary
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08:04 EDTBMYBristol-Myers says FDA accaepts sBLA for Opdivo
Bristol-Myers Squibb Company announced that the U.S. Food and Drug Administration has accepted for filing and review the supplemental Biologics License Application for Opdivo for the treatment of previously treated patients with non-squamous non-small cell lung cancer. This sBLA seeks to expand the current indication for Opdivo in patients with previously treated squamous NSCLC. The projected FDA action date is January 2, 2016. The agency has also granted this application priority review, and Opdivo Breakthrough Therapy Designation for this indication, underscoring the need for new treatments for this patient population, where currently a significant unmet medical need remains. According to the FDA, the criteria for Breakthrough Therapy Designation requires preliminary clinical evidence that demonstrates the drug may have substantial improvement on at least one clinically significant endpoint over available therapy. The submission is based on CheckMate -057, a Phase 3 study that evaluated the survival of patients with NSQ NSCLC who had progressed during or after one prior platinum doublet-based chemotherapy regimen. The positive results of a separate study, Checkmate -017, formed the basis of the current lung cancer indication; study -017 evaluated the survival of patients with SQ NSCLC who had progressed during or after one prior platinum doublet-based chemotherapy regimen. In both studies Opdivo demonstrated an overall survival benefit.
06:41 EDTAZNAstraZeneca upgraded to Buy from Hold at HSBC
HSBC upgraded AstraZeneca to Buy based on recent shares weakness and a large amount of Oncology and ImmunoOncology news flow in the coming months.
September 1, 2015
08:33 EDTAZNNektar receives $40M milestone payment from first commercial sale of Moventig
Nektar (NKTR) announced that it has received a $40M cash payment under a license agreement with AstraZeneca (AZN). The payment was triggered by the first commercial sale of MOVENTIG (naloxegol) in Germany. MOVENTIG is the first once-daily, oral peripherally-acting mu-opioid receptor antagonist (PAMORA) medication approved in the European Union for the treatment of opioid-induced constipation (OIC) in adult patients who have had an inadequate response to laxatives. MOVENTIG is marketed in the U.S. by AstraZeneca as MOVANTIK and is the first once-daily oral PAMORA medication indicated for the treatment of OIC in adult patients with chronic, non-cancer pain. MOVENTIG/MOVANTIK is part of the exclusive worldwide license agreement announced on September 21, 2009 between AstraZeneca and Nektar Therapeutics. Under the terms of the agreement, in addition to the $40 million milestone payment announced today, Nektar received a $100 million milestone payment upon first commercial sale of MOVANTIK in the U.S. in March of 2015. Nektar is also entitled to royalties on worldwide net product sales and up to $375 million in sales milestones. The royalty rate in the U.S. starts at 20% and escalates. The royalty rate in Europe and the rest of the world starts at 18% and escalates. Under the agreement, AstraZeneca is responsible for all sales and marketing activities for MOVANTIK worldwide.
07:31 EDTBMYBristol-Myers, AbbVie say FDA accepts BLA for Empliciti for priority review
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07:07 EDTBMYHeat Biologics announces clinical trial combining HS-110, PD-1 in NSCLC
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05:33 EDTAZNValeant, AstraZeneca to partner on brodalumab
Valeant Pharmaceuticals (VRX) announced that its affiliate has entered into a collaboration agreement with AstraZeneca (AZN) under which Valeant was granted an exclusive license to develop and commercialize brodalumab. Brodalumab is an IL-17 receptor monoclonal antibody in development for patients with moderate-to-severe plaque psoriasis and psoriatic arthritis. Under the agreement, Valeant will hold the exclusive rights to develop and commercialize brodalumab globally, except in Japan and certain other Asian countries where rights are held by Kyowa Hakko Kirin under a prior arrangement with Amgen Inc., the originator of brodalumab. Valeant will assume all development costs associated with the regulatory approval for brodalumab. Regulatory submission in U.S. and EU for brodalumab in moderate-to-severe psoriasis is planned for Q4. Under the terms of the agreement, Valeant will make an up-front payment to AstraZeneca of $100M, as well as additional pre-launch milestones of up to $170M and further sales-related milestone payments of up to $175M following launch. After approval, AstraZeneca and Valeant will share profits.
August 31, 2015
09:11 EDTBMYEuropean Society of Cardiology
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08:32 EDTBMYBristol-Myers reports agreement providing exclusive right to acquire Promedior
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August 30, 2015
19:07 EDTBMYBristol-Myers partners with QIMR Berghofer for immuno-oncology research
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August 28, 2015
07:59 EDTBMYBristol-Myers management to meet with Leerink
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August 27, 2015
10:35 EDTBMYBristol-Myers calls active
Bristol-Myers August weekly 61 and 61.5 calls are active on total call volume of 7K contracts (4K puts). August weekly call option implied volatility is at 35, September is at 34, October is at 28; compared to its 52-week range of 14 to 36. Active call volume suggests traders taking positions for price movement.
07:51 EDTAZN, BMYRoche catching up fast to Bristol-Myers in immuno-oncology, says Jefferies
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05:28 EDTBMYAllied-Bristol Life Sciences announces licensing agreement with Yale University
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August 24, 2015
09:45 EDTBMYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
08:16 EDTBMYBristol-Myers, Pfizer to present new data on Eliquis at ESC Congress 2015
Bristol-Myers Squibb Company (BMY) and Pfizer Inc. (PFE) announced that 22 abstracts will be presented at the ESC Congress 2015, to be held August 29 to September 2 in London, United Kingdom. The new data reinforce the Alliance's commitment to the ongoing evaluation of Eliquis in both the nonvalvular atrial fibrillation and venous thromboembolism patient populations. In addition, data from the AEGEAN study evaluating adherence among NVAF patients further extends the Alliance's commitment to patient care.
07:08 EDTBMYBristol-Myers upgraded to Neutral from Underweight at Piper Jaffray
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05:13 EDTAZNAstraZeneca to collaborate with Peregrine on cancer immunotherapy clinical trial
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August 23, 2015
12:35 EDTBMY, AZNBiotech firms could see 'billions' in sales from new cancer drugs, Barron's says
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