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News Breaks
March 14, 2014
14:18 EDTCELGCelgene lower after U.K. draft guidance on Revlimid use
Shares of drug maker Celgene (CELG) are sinking after a U.K. guidance body refused, in a preliminary decision, to recommend expanded use of the company's Revlimid drug in the country. WHAT'S NEW: The U.K.'s National Institute for Health and Care Excellence, or NICE, declined to recommend the use of Revlimid by multiple myeloma patients who had been treated one time with another drug, bortezomib. Instead, NICE will recommend that Revlimid only be given to patients who have received two or more prior therapies, the regulator stated. Celgene failed to present data comparing the effectiveness of Revlimid to other drugs, and it is unclear if Revlimid is as effective as giving patients a second round of bortezomib, NICE stated. Additionally, Celgene's own model showed that the drug would not be cost effective at this stage, NICE added. ANALYST REACTION: In a note to investors earlier today, Wells Fargo analyst Dr. Brian Abrahams wrote that the weakness in Celgene's stock today may also have been triggered by the scheduling of a hearing in a patent case on April 29, which was earlier than previously expected. However, the scheduling of the hearing was known two days ago, the analyst stated. The hearing could be important in judging how long Celgene will have exclusive rights to Revlimid, but the outcome will not be known for another year or more, the analyst believes. Abrahams also said the U.K.'s decision is not significant, since the country is more stringent than other nations in these matters. The country is likely to change its decision in the future, based on data from a study of Revlimid, according to the analyst. Abrahams recommended that investors buy Celgene shares on today's weakness and added the stock to the firm's Priority Stock List. PRICE ACTION: In afternoon trading, Celgene fell $5.44, or 3.5%, to $150.56.
News For CELG From The Last 14 Days
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March 4, 2015
12:11 EDTCELGCelgene reaffirms long-term financial targets
Celgene in conference presentation slides reaffirmed its 2017 product sales target of $13B-$14B and 2020 target of over $20B. The company also reaffirmed its 2017 earnings per share target of $7.50 and 2020 target of greater than $12.50. Celgene said it is on track to meet or exceed its 2017 targets. It expects "strong growth" to 2020 by on label expansions and new products.
09:36 EDTCELGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AA AMZN CELG MCD SINA TSLA V TWTR PBR
March 3, 2015
11:46 EDTCELGLeerink biotech analyst holds an analyst/industry conference call
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March 2, 2015
09:46 EDTCELGCelgene announces EC approved Abraxane
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09:34 EDTCELGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL MNTA CELG TSLA MCD ARUN GILD KO TWTR NFLX
February 27, 2015
07:37 EDTCELGCelgene removed from the short-term buy list at Deutsche Bank
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February 25, 2015
13:44 EDTCELGCelgene price target raised to $155 from $130 at Argus
Argus increased its price target on Celgene as the firm thinks the company is "well on its way" to meeting its growth targets. The firm thinks the company reported strong Q4 results and keeps a Buy rating on the shares.
February 24, 2015
08:04 EDTCELGCelgene reports Abraxane now reimbursed in Italy as first-line treatment
Celgene International SÓrl, a wholly owned subsidiary of Celgene Corporation, announced that Italian authorities have issued a positive decision for NHS reimbursement of ABRAXANE -- paclitaxel formulated as albumin-bound nanoparticles, or nab-paclitaxel -- in combination with gemcitabine, for the first-line treatment of patients with metastatic adenocarcinoma of the pancreas, or pancreatic cancer. The reimbursement decision has been published in the Italian Official Gazette no. 30, dated February 6, 2015.
07:31 EDTCELGRBC Capital to hold a conference
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February 20, 2015
16:03 EDTCELGOptions Update; February 20, 2015
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09:38 EDTCELGActive equity options trading on open
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05:27 EDTCELGCelgene Revlimid approved by EC
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February 18, 2015
16:00 EDTCELGOptions Update; February 18, 2015
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10:05 EDTCELGOn The Fly: Analyst Initiation Summary
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09:38 EDTCELGCelgene reports FDA expands indication for Revlimid combo
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09:37 EDTCELGOption volume leaders on open
Option volume leaders: AAPL TSLA TWTR CELG APO NFLX AXP APA LNKD C GILD according to Track Data.
06:47 EDTCELGCelgene initiated with a Buy at Canaccord
Target $156.

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