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News Breaks
April 23, 2014
04:55 EDTDNA, DNA, DNA, AMGN, AMGN, AMGN, PFE, PFE, PFE, BIO, BIO, BIO, BIIB, BIIB, BIIB, MRK, MRK, MRK, ASTX, ASTX, ASTX, SNY, SNY, SNY, GSK, GSK, GSKCambridge Healthtech Institute to hold a conference
9th Annual Drug Discovery Chemistry Conference is being held in San Diego, CA on April 23-25.
News For DNA;AMGN;PFE;BIO;BIIB;MRK;ASTX;SNY;GSK From The Last 14 Days
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January 27, 2016
08:57 EDTBIIBBiogen: Pipeline, organization 'stronger than they have ever been'
Says Tecfidera demand "stable" in the U.S, sees remaining "relatively stable" in 2016. Says pipeline, organization "stronger than they have ever been." Says seeing positive leading indicators on Tecfidera marketing. Sees "stable trajectory" for Tysabri in 2016. Sees "slight" upward pressure in COGS rate in 2016. Expects ocrelizumab launch in 2017. Says 2016 guidance assumes no price increases for MS drugs. Expects upward pressure on 2016 tax rate as profitability shifts towards the U.S. Comments taken from the Q4 earnings conference call. Biogen is up 5.62% in pre-market trading.
08:36 EDTMRKMerck downgraded to Neutral on lack of catalysts at BofA/Merrill
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08:31 EDTMRKMerck says FDA accepts for review BLA for investigational antitoxin
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08:29 EDTMRKMerck downgraded to Neutral from Buy at BofA/Merrill
08:26 EDTBIIBBiogen sees FY16 CapEx $800M-$850M
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08:07 EDTAMGNAmgen volatility elevated into Q4 and outlook
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07:18 EDTBIIBBiogen says looks to advance several potential breakthrough programs in 2016
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07:17 EDTBIIBBiogen sees FY16 adjusetd EPS $18.30-$18.60, consensus $18.45
Sees FY16 revenue approx. $11.B-$11.3B, consensus $11.29B. &D expense is expected to be approximately 19% to 20% of total revenue. The company plans to continue to invest in a number of R&D programs across its emerging mid- and late-stage pipeline, including aducanumab for Alzheimer's disease, nusinersen for spinal muscular atrophy, raxatrigine for trigeminal neuralgia and amiselimod for inflammatory bowel disease. In 2016, the Company plans to provide one update to its annual financial guidance, which is expected to be provided in connection with its second quarter earnings release.
07:16 EDTBIIBBiogen reports Q4 adjusted EPS $4.50, consensus $4.08
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06:59 EDTBIIBOptions expected to be active: AAPL FB AMZN BIIB GD HES TXT BA UTX X T
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January 26, 2016
15:31 EDTSNYMannKind exploring potential sale, Reuters reports
MannKind (MNKD), whose shares have plunged 40% since Sanofi (SNY) terminated an agreement for the development and commercialization of inhaled insulin drug Afrezza, is now exploring its strategic options, including a potential sale, reported Reuters, citing people familiar with the matter. MannKind shares are up about 20% to 90c in afternoon trading following the report. Reference Link
14:32 EDTBIIBNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
07:47 EDTBIIBBiogen volatility elevated into Q4 and outlook
Biogen January weekly call option implied volatility is at 87, February is at 45; compared to its 52-week range of 23 to 58, suggesting large near term price movement into the expected release of Q4 results on January 27.
January 25, 2016
17:23 EDTAMGNAmgen announces FDA acceptance of BLA for ABP 501
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15:04 EDTBIIBBiogen technical remarks ahead of earnings
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11:05 EDTGSKOncoMed price target lowered to $29 from $43 at Piper Jaffray
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10:55 EDTSNY, AMGNRegeneron slips after analyst says sell to avoid risk from Amgen patent suit
Shares of Regeneron Pharmaceuticals (REGN) fell in morning trading after an analyst at Chardan downgraded the stock to Sell, citing risk from a patent lawsuit in which the biopharmaceutical company is involved. CHARDAN SAYS SELL: Chardan Capital Markets analyst Gbola Amusa downgraded Regeneron to Sell from Neutral this morning, while reducing his price target on shares to $400 from $525. In a note to clients, Amusa said he believes that Regeneron is likely to face significant risks from the upcoming patent infringement case for Praluent. The suit could be a key driver of the company's share price performance in the near future, the analyst said. Regeneron, along with its partner Sanofi (SNY), launched Praluent in the U.S. last year, after the October 2014 filing of a patent infringement suit by Amgen (AMGN) relating to patents for "monoclonal antibodies that bind PCSK9," Amusa noted. The analyst believes that since Regeneron and Sanofi "likely" infringe Amgen's patents for Repatha, the Regeneron-Sanofi partnership could seek to settle the ahead of the trial by agreeing to pay 10%-20% or more of royalties to Amgen for U.S. Praluent sales. Amusa said that "such an outcome we estimate could transfer roughly $750M of operating income per year to Amgen." Further, Amusa said that catalysts surrounding the patent infringement trial are "likely to play out from late February to late March," and concedes that "both sides have good reasons to settle this case for a reasonable royalty." INCREASING COMPETITION: Amusa also noted that he sees increasing competitive risks in 2016 to Regeneron's Eylea from Novartis (NVS) and its partner Ophthotech (OPHT), which continue to progress Fovista into Phase III trials in wet AMD. WHAT'S NOTABLE: Roth Capital upgraded Regeneron to Buy from Neutral on January 19, based on valuation, as the firm said shares do not reflect the value of the company's upcoming catalysts. The firm also raised its price target to $555 from $543. The same day, Credit Suisse initiated Regeneron with a Neutral rating and $552 target. PRICE TARGET: Regeneron slipped 1.4% to $476.02 in morning trading.
09:03 EDTMRKOn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
06:53 EDTGSKGlaxo, Astra, J&J partner with universities in drug research fund, Reuters says
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05:19 EDTMRKAffimed Therapeutics enters into collaboration with Merck
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