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Stock Market & Financial Investment News

News Breaks
June 3, 2014
06:39 EDTCLVS, AZNClovis downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Clovis Oncology(CLVS) to Neutral saying AstraZeneca's AZD9291 looks comparatively better than the company's CO-1686. Citi cut its price target for Clovis shares to $53 from $109.
News For CLVS;AZN From The Last 14 Days
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September 17, 2014
07:43 EDTAZNBofA/Merrill to hold a conference
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September 16, 2014
14:33 EDTAZNNektar price target raised to $20 from $18 at Brean Capital
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12:37 EDTAZNNektar reports FDA approval of MOVANTIK for treatment of OIC
Nektar Therapeutics (NKTR) reported that partner AstraZeneca (AZN) announced that the FDA approved MOVANTIK tablets as the first once-daily oral peripherally-acting mu-opioid receptor antagonist medication for the treatment of opioid-induced constipation, or OIC, in adult patients with chronic, non-cancer pain. In line with the recommendation from the FDA Anesthetic and Analgesic Drug Products Advisory Committee that took place in June, AstraZeneca has agreed to conduct a post-marketing, observational epidemiologic cardiovascular safety study for MOVANTIK. MOVANTIK is expected to be available to patients in the first half of 2015. MOVANTIK is currently a schedule II controlled substance because it is structurally related to noroxymorphone. During the review of the New Drug Application, the FDA evaluated the abuse potential of MOVANTIK and the approved labelling indicates that MOVANTIK has no risk of abuse or dependency. AstraZeneca submitted a petition for the descheduling of MOVANTIK to the U.S. Drug Enforcement Administration, or DEA, in March 2012, which was accepted for review and will be considered by the DEA as part of the process for addressing the descheduling request.
11:51 EDTAZNOECD looks to close tax loopholes with new proposals
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10:19 EDTAZNFDA approves Movantik with requirement for cardiovascular risk study
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08:00 EDTAZNFDA PDUFA Date for Nektar and AstraZeneca''s Movantik is September 16, 2014
07:31 EDTAZNEuropean Association for Study of Diabetes to hold annual meeting
50th Annual Meeting of EASD to be held in Vienna, Austria on September 15-19.
07:02 EDTAZNEli Lilly and AstraZeneca to co-develop and commercialize AZD3293
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06:27 EDTAZNAstraZeneca, Eli Lilly to jointly develop, commercialize AZD3293
AstraZeneca (AZN) and Eli Lilly (LLY) announced an agreement to jointly develop and commercialize AZD3293, an oral beta secretase cleaving enzyme inhibitor currently in development as a potential treatment for Alzheimer's disease. AZD3293 has been shown in Phase I studies to significantly and dose-dependently reduce levels of amyloid beta in the cerebro-spinal fluid of Alzheimer's patients and healthy volunteers. AstraZeneca announced earlier in 2014 its plan to move AZD3293 into registration trials. Under the terms of the agreement, Lilly will pay AstraZeneca up to $500M in development and regulatory milestone payments. AstraZeneca expects to receive the first milestone payment of $50M in the 1H15. The companies will share all future costs equally for the development and commercialization of AZD3293, as well as net global revenues post-launch. AstraZeneca and Lilly aim to progress AZD3293 rapidly into a Phase II/III clinical trial in patients with early Alzheimer's disease. Lilly will lead clinical development, working with researchers from AstraZeneca's Innovative Medicines Unit for neuroscience, while AstraZeneca will be responsible for manufacturing. The companies will take joint responsibility for commercialization of AZD3293. The agreement is subject to customary terms and conditions. It will have no impact on AstraZeneca's 2014 Core Earnings per Share.
September 15, 2014
07:27 EDTAZNPfizer acquisition could drive shares higher, says JPMorgan
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September 12, 2014
10:32 EDTAZNPfizer CEO says company still open to inversion deal, FT says
Pfizer (PFE) CEO Ian Read said U.S. rhetoric against tax inversions has been "political theater" ahead of midterm elections and made clear that his company is still open to a potential tax-saving acquisition, according to Financial Times, which added Read's comment about not being “held hostage” over price would likely be read as a signal the company might look elsewhere after being rebuffed by AstraZeneca (AZN). The Fly notes that Bloomberg previously reported, citing people familiar with the matter, that Pfizer is looking at targets other than AstraZeneca, including Actavis (ACT). Shares of Actavis trading in New York are up 2% this morning. Reference Link
September 10, 2014
16:03 EDTCLVSClovis announces first patient enrolled in lucitanib Phase 2 study
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15:21 EDTAZNAstraZeneca has a conference call hosted by JPMorgan
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September 8, 2014
14:13 EDTAZNConnecticut AG tells FDA to speed up generic Nexium
A news release from the Connecticut Attorney General George Jepsen, dated September 4, says: In comments to a Citizen Petition filed with the FDA, Attorney General George Jepsen called on the federal agency to expeditiously end several years of delays preventing the sale of a generic form of the drug esomeprazole magnesium , esomeprazole, currently marketed under the brand name Nexium. Nexium is the second highest-selling pharmaceutical drug in the United States, and delays in approving generic versions have cost consumers and government healthcare payers billions of dollars. In his comments, Attorney General Jepsen alleges that an agreement between drug manufacturers Ranbaxy (RBXLY) and AstraZeneca Pharmaceuticals (AZN), Nexium’s brand-name manufacturer, has prevented other drug-makers from launching a generic version of the drug, ultimately harming all consumers by artificially inflating prices. Ranbaxy was first-to-file with the FDA for approval of a generic form of Nexium. AstraZeneca sued Ranbaxy for patent infringement, and the dispute was settled by an agreement that provided financial incentives for Ranbaxy to delay entry of its generic into the consumer market. Reference Link
07:02 EDTAZNAstraZeneca announces availability of Bydureon pen 2mg
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September 4, 2014
17:15 EDTAZNAstraZeneca granted orphan status for EFGR non-small cell lung cancer treatment
The FDA posted on its website that AstraZeneca has been granted orphan status for its treatment of epidermal growth factor receptor, or EFGR, mutation-positive non-small cell lung cancer. Reference Link
07:23 EDTAZNAstraZeneca called for inversion clamp down as part of defense, WSJ says
Amid its defense against an unsolicited takeover bid from rival Pfizer (PFE), AstraZeneca (AZN) hired advisers with close ties to the Obama administration, who made calls to senior administration officials urging a clamp down on tax inversions, said The Wall Street Journal, citing people familiar with the previously undisclosed calls. Reference Link
September 3, 2014
05:44 EDTAZNTeva announces positive judgement in patent case against AstraZeneca
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