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April 2, 2013
05:55 EDTGLW, GLW, GSK, GSK, PFE, PFE, BAYRY, BAYRY, LLY, LLY, SNY, SNY, MNTA, MNTA, ONXX, ONXX, AMGN, AMGN, MRK, MRK, CBST, CBST, BIIB, BIIB, SHPG, SHPGBoston Biotech Conferences to host a conference
BD Biotech Conference is being held in Boston on April 2-3.
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November 19, 2015
09:04 EDTPFEPfizer would offer 11-plus shares per Allergan share, CNBC's Faber says
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08:56 EDTPFETreasury inversion attack seen as not stopping Pfizer, Allergan deal
Press reports indicate that talks between Pfizer (PFE) and Allergan (AGN) are heating up and that a deal is nearing, but simultaneously the U.S. government's rhetoric around the type of "inversion" deal the two pharmaceutical giants are discussing is getting ratcheted up as well. Despite the political noise, an analyst at Citi says he struggles to see what the Treasury can do to stop the drugmakers from combining if they agree to do so. NEWS: On October 29, Allergan confirmed that it had been approached by Pfizer and is in preliminary friendly talks regarding a potential deal to combine their businesses. Last night, Bloomberg's Cynthia Koons, Ed Hammond and Ruth David reported that Pfizer is nearing an agreement to acquire Allergan for $370 to $380 per share, citing people familiar with the matter. The two companies are aiming to announce a deal as early as Monday, sources told the publication. Also last night, Bloomberg and The Wall Street Journal said that the Treasury Department will release "targeted guidance" later this week meant to "deter and reduce further the economic benefits of corporate inversions," citing a letter from Treasury Secretary Jacob Lew. "It is important to emphasize, however, that Treasury cannot stop inversions without new statutory authority. Unless and until Congress acts, creative accountants and lawyers will continue to find new ways for companies to move their tax residences overseas," added Lew. Allergan CEO Brent Saunders previously told Financial Times that it would be a "short-sighted intervention by politicians if they were to intervene. What has to happen is the U.S. has to create a competitive environment for companies." TREASURY ACTION WON'T BE ENOUGH: Citi analyst Liav Abraham tells investors in a research note that Treasury's plans reported yesterday to implement further actions to curb tax inversions were likely spurred by the "imminent announcement" of a Pfizer, Allergan merger. The developments were likely factored into Pfizer and Allergan's assumptions when entering into merger discussions, the analyst believes. He expects a deal to be announced over the near term and keeps a Buy rating on Allergan with a $360 price target. Meanwhile, Susquehana's Andrew Finkelstein said he was not surprised that the Treasury will announce more measures reducing the benefits of inversions, noting that last fall it proposed rules aimed at limiting inverted companies' use of cash and threatened measures to combat earnings stripping on a retroactive basis. The analyst, who raised his price target on Allergan to $370 based on the media report of a deal being near, said Treasury's further anti-inversion action does not mean a deal is off the table, but underscores the "likely delicate" negotiation between the companies over price and risk-sharing. WRONG TIME TO SELL?: Earlier this month, Bernstein's Aaron Gal said it looked "like the wrong time to sell" for Allergan, given its strong execution and solid product revenue growth ,along with the weakness in drug stocks. Consequently, he contended that Allergan shareholders should consider making Pfizer pay "closer to $450 per share" than $400 per share for the company. PRICE ACTION: In pre-market trading following Bloomberg's report and Secretary Lew's letter, Allergan shares are down 1.5% to $305.90, while Pfizer is down nearly 1% to $33 per share.
08:32 EDTGLWCorning focusing on new end markets to expand growth, says Susquehanna
Susquehanna said Corning has recently focused on new end-market opportunities that could help provide growth as display matures. Although the firm noted the company is trying to find opportunities, they see only 6-8% accretion to 2017 earnings. Susquehanna reiterated its Positive rating and $22 price target on Corning shares.
06:46 EDTPFECiti not seeing how Treasury can stop Pfizer, Allergan deal
Citi analyst Liav Abraham says he struggles to see what the Treasury can do to stop Pfizer's (PFE) potential acquisition of Allergan (AGN). The Treasury's plans announced yesterday to implement further actions to curb tax inversions were likely spurred by the "imminent announcement" of a Pfizer, Allergan merger, Abraham tells investors in a research note. The developments were likely factored into Pfizer and Allergan's assumptions when entering into merger discussions, the analyst adds. He expects a deal to be announced over the near term and keeps a Buy rating on Allergan with a $360 price target. Bloomberg reported last night that Pfizer is nearing an acquisition of Allergan at $370-$380 per share. The Botox maker closed yesterday at $310.38.
06:34 EDTMRK, LLYEli Lilly, Merck expand immuno-oncology collaboration
Eli Lilly (LLY) and Merck (MRK) announced the extension of an existing collaboration to evaluate the safety and efficacy of the combination of Lilly's Alimta and Merck's Keytruda in a pivotal Phase III study in first-line nonsquamous non-small cell lung cancer, or NSCLC. The study will be sponsored by Merck and will be open to patients with NSCLC in the first-line setting, regardless of PD-L1 status. Financial details of the collaboration were not disclosed. The expansion of this oncology clinical trial collaboration comes following the release of encouraging data from a Phase I study, presented earlier this year at the 16th World Congress on Lung Cancer, which evaluated pemetrexed, carboplatin and pembrolizumab in first-line nonsquamous NSCLC.
06:06 EDTPFEAllergan weekly volatility elevated into reports of near deal with Pfizer
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05:29 EDTPFEServier exercises licensing option with Cellectis for UCART19
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November 18, 2015
20:00 EDTPFEPfizer nears deal for Allergan at $370-$380 per share, Bloomberg says
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19:00 EDTPFEPfizer nearing acquisition of Allergan at $370-$380 per share, Bloomberg says
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17:00 EDTPFETreasury Department to release new 'guidance' deterring tax inversions, WSJ says
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08:11 EDTPFE, LLY, MRK, SNY, GSKIMS Health forecasts global drug spending to increase 30% by 2020 to $1.4T
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08:06 EDTPFEPfizer says Phase 3 XALKORI trial shows 'positive' results
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07:02 EDTPFEMerck KGaA, Pfizer win FDA breakthrough therapy designation for Avelumab
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07:01 EDTMRKThreshold enters into definitive co-promotion agreement with Merck
Threshold Pharmaceuticals (THLD) announced that it finalized a definitive Co-Promotion Agreement for evofosfamide with Merck (MRK) pursuant to the companies' License and Co-Development Agreement entered into on February 2, 2012. Under the terms of the License and Co-Development Agreement, Threshold may co-promote evofosfamide in the U.S. subject to FDA approval of evofosfamide. Evofosfamide is Threshold's investigational hypoxia-activated prodrug, which is currently the subject of two fully enrolled Phase 3 clinical trials in advanced soft tissue sarcoma and advanced pancreatic cancer for which Threshold expects to announce top-line data around the end of 2015. Under the commercial leadership of Merck KGaA, Darmstadt, Germany, the terms of the License and Co-Development Agreement give Threshold the right, at its own cost, to field and be responsible for its own sales force in collaboration with Merck KGaA, Darmstadt, Germany's sales force in the U.S. pursuant to the terms of the new Co-promotion Agreement. Merck KGaA, Darmstadt, Germany remains responsible for all other commercial and medical affairs functions associated with the launch and promotion of evofosfamide. The development milestone payment and royalty payment portions of the License and Co-Commercialization Agreement remain the same. To date Threshold has received upfront and milestone payments of $110 million and can earn additional potential milestone payments of up to $440M.
06:09 EDTPFE, LLYValeant's Addyi sees hardly any sales, Bloomberg says
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06:03 EDTBAYRYBayer says not looking to sell crop chemicals business, Reuters reports
Bayer (BAYRY) says its Bayer CropScience unit is an "integral part" of the company and that the division is not for sale, Reuters reports. Bayer's comments come after Monsanto (MON) executives said that it is in internal discussions about tie-ups in the industry. Reference Link
November 17, 2015
10:00 EDTSHPGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CF Industries (CF) upgraded to Positive at Susquehanna... ExlService (EXLS) upgraded to Buy from Neutral at BofA/Merrill... Fitbit (FIT) upgraded to Buy at BofA/Merrill... Forward Air (FWRD) upgraded to Outperform at Baird... HD Supply (HDS) upgraded to Positive from Neutral at Susquehanna... Hannover Re (HVRRY) upgraded to Overweight from Underweight at JPMorgan... Moody's (MCO) upgraded to Buy from Neutral at UBS... PRA Group (PRAA) upgraded to Strong Buy from Market Perform at Raymond James... Plum Creek Timber (PCL) upgraded to Outperform from Sector Perform at RBC Capital... Shire (SHPG) upgraded to Outperform from Market Perform at Leerink... Yandex (YNDX) upgraded to Overweight from Equal Weight at Morgan Stanley... Zayo Group (ZAYO) upgraded to Buy from Neutral at MoffettNathanson.
08:04 EDTMRKMerck to present new KEYTRUDA findings at upcoming congresses
Merck announced that data investigating the use of KEYTRUDA, the company's anti-PD-1 therapy, in advanced non-small cell lung cancer, melanoma, classical Hodgkin lymphoma, multiple myeloma, and ER-positive/HER2-negative breast cancer will be presented at four medical congresses through the end of this year. In total, data from more than 30 abstracts will be presented at the Society for Melanoma Research 2015 Congress in San Francisco, Nov. 18 - 21; the 57th American Society of Hematology Annual Meeting in Orlando, Florida, Dec. 5 - 8; the San Antonio Breast Cancer Symposium, Dec. 8 - 12; and the European Society for Medical Oncology Asia 2015 Congress in Singapore, Dec. 18 - 21. By the end of 2015, data on the anti-tumor activity of KEYTRUDA will have been presented across more than 20 tumor types. "The field of immuno-oncology holds great potential across a broad spectrum of cancers," said Dr. Roy Baynes, senior vice president and head of global clinical development, Merck Research Laboratories. "Data for KEYTRUDA being presented at these scientific meetings include a first-time comparison to chemotherapy in advanced non-small cell lung cancer, novel combination data in advanced melanoma as well as first-time data in two additional tumor types, namely multiple myeloma and hormone receptor positive breast cancer, further demonstrating our deep commitment to advancing cancer treatment."
07:56 EDTGLWUBS to hold a conference
Global Technology Conference is being held in San Francisco on November 16-18 with webcasted company presentations to begin on November 17 at 10:45 am.; not all company presentations may be webcasted. Webcast Link
05:22 EDTPFEStocks with implied volatility movement; P PFE
Stocks with implied volatility movement; Pandora (P) 104, Pfizer (PFE) 29 according to iVolatility.
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