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December 4, 2012
07:16 EDTAMGN, GSK, THLDSome drugmakers focus on childhood cancer treatments, Bloomberg reports
Four experimental cancer treatments that may one day help gravely ill children are facing review by U.S. pediatric advisers. The medicines from GlaxoSmithKline (GSK), Amgen (AMGN) Threshold (THLD) and Boehringer Ingelheim have the potential to treat children with a variety of tumors and fast-spreading leukemia, reports Bloomberg.Reference Link
News For GSK;AMGN;THLD From The Last 14 Days
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October 6, 2015
12:06 EDTAMGNPiper's Schimmer sees opportunity in Biopharma on TPP-related selloff
Piper Jaffray analyst Joshua Schimmer says Biopharma stocks are selling off with some spinning the eight years of exclusivity for biologics as part of the Trans Pacific Partnership as a negative for the industry. The development is a "step forward," especially since it does not over-rule the 12 years' exclusivity for the drugs in the U.S., Schimmer tells investors in an intraday research note. While the sector asked for 12 years' exclusivity to match the U.S., eight years is a "reasonable compromise," the analyst argues. His top picks remain Alexion (ALXN), Celgene (CELG) and Amgen (AMGN) in the large-cap space, GW Pharmaceuticals (GWPH) and bluebird bio (BLUE) among mid-caps, and Flex Pharma (FLKS), Lion Biotechnologies (LBIO), Otonomy (OTIC) and Ignyta (RXDX) in the small-cap sector. Further, Schimmer writes that more names look "increasingly compelling" amid the selloff.
October 5, 2015
10:02 EDTAMGNBofa/Merrill healthcare analysts hold an analyst/industry conference call
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October 1, 2015
13:58 EDTAMGNExpress Scripts hints at slow start for new cholesterol drugs
An interview with Express Scripts' (ESRX) Everett Neville hinted at slow adoption rates for a pair of new cholesterol treatments known as PCSK9 inhibitors, spurring Piper Jaffray analysts to weigh in on the matter this morning. REJECTION RATES: In a Reuters interview published Wednesday, Express Scripts VP of Pharma Strategies and Chief Trade Relations Officer Everett Neville commented that two new PCSK9 drugs would not be "budget busters" because most prescriptions for the treatments are actually being denied. Praluent from Regeneron (REGN) and Sanofi (SNY) as well as Amgen's (AMGN) Repatha were approved in recent months to treat high cholesterol, but their $14,000-plus yearly costs have come under fire, including from the Institute for Clinical and Economic Review. "We're seeing a lot of patients who either don't qualify or their physicians are not providing [necessary] information," Neville explained, indicating that use of the cholesterol treatments is coming in at the low end of expectations. ANALYST BREAKDOWN: Piper Jaffray analyst Edward Tenthoff said Neville's statements "validate" his view that PCSK9 adoption rates would be vulnerable to pushback from reimbursers like Express Scripts. Tenthoff added that he continues to see a slow launch for Regeneron's Praluent in particular, especially given the lack of cardiovascular outcomes data. Fellow Piper Jaffray analyst Joshua Schimmer took a more optimistic view, acknowledging the apparently high prescription rejection rate but arguing that the patient pool for the drugs is expected to "grow substantially" once cardiovascular data is released. PRICE ACTION: Express Scripts shares have slipped roughly 0.9% amid broader market losses, while shares of Regeneron, Sanofi, and Amgen are all showing minor declines of less than 1%.
09:35 EDTAMGNActive equity options trading on open
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08:33 EDTAMGNAfter massive selloff, large biotechs seen leading sector back
The biotech sector has been among the worst performing groups during the recent stock market volaility, due to broader macroeconomic concerns as well as sector-specific worries about pushback on drug price increases. However, analysts at JPMorgan and Piper Jaffray issued notes defending a leader in the space, Celgene (CELG), and argued that growth in the sector will continue and cannot be ignored by investors for much longer. BUY CELGENE: JPMorgan analyst Cory Kasimov upgraded Celgene to Overweight citing an "increasingly attractive" valuation following the recent pullback in shares. The company is one the "most fundamentally sound biotechs" and shares at current levels are "too compelling to remain on the sidelines," Kasimov tells investors in a research note. The analyst said that not only does Celgene have an "impressive" proprietary pipeline, but he is also confident in the company's ability to identify potentially first-in-class and best-in-class products to partner on or acquire to continue its growth. Kasimov keeps a $152 price target for the stock. HIGH-GROWTH: Piper Jaffray analyst Joshua Schimmer says recent weakness in the biopharma sector has created a "valuation discrepancy" versus non-growth, non-biopharma stocks that he hasn't seen for a number of years. The sector remains in a "prolonged growth cycle" driven by extended product cycles, attractive and improving pipelines and M&A opportunities, Schimmer told investors in a research note titled "Out of The Ashes, A Growth Sector Poised To Fly Higher." The analyst, who expects large-cap biopharma companies to lift the sector out of the recent weakness, listed Celgene, Alexion (ALXN), Amgen (AMGN) and Endo (ENDP) as his preferred growth names. PRICE ACTION: Celgene shares are down more than 8% over the past month, though the stock closed yesterday up $2.79 to $108.13. During September, Alexion declined 9%, Amgen dropped 9%, Endo fell 10% and the iShares NASDAQ Biotechnology Index ETF (IBB) slid more than 11%.
08:04 EDTGSKPfizer completes acquisition of Nimerix, Mencevax from GSK
Pfizer (PFE) announced that it has completed the acquisition of GlaxoSmithKline's (GSK) quadrivalent meningococcal ACWY vaccines Nimenrix and Mencevax.
06:28 EDTAMGNPiper sees 'highly compelling' entry points in large cap biopharma
Piper Jaffray analyst Joshua Schimmer says recent weakness in the biopharma sector has created a "valuation discrepancy" versus non-growth peers that he hasn't seen for a number of years. The sector remains in a "prolonged growth cycle" driven by extended product cycles, attractive and improving pipelines and M&A opportunities, Schimmer tells investors in a research note titled "Out of The Ashes, A Growth Sector Poised To Fly Higher." He expects large-cap biopharma companies to lift the sector out of the recent weakness. His preferred growth names include Celgene (CELG), Alexion (ALXN), Amgen (AMGN) and Endo (ENDP).
September 30, 2015
17:34 EDTAMGNExpress Scripts says many PCSK9 prescriptions denied, Reuters reports
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12:41 EDTGSKGlaxoSmithKline exercises option for Liquidia Technologies' inhaled therapeutics
Liquidia Technologies announced that GlaxoSmithKline has exercised its option under a Collaboration and Option Agreement signed in 2012 to exclusively license the right to research, develop, and commercialize inhaled therapeutics derived from the company's proprietary PRINT technology. Through this collaboration, Liquidia and GSK will continue to work together with the goal of advancing inhaled therapeutics into clinical studies. According to the agreement signed in June 2012, Liquidia was granted an upfront payment comprised of cash and equity, R&D funding, and potential development milestones and royalties. As a result of the GSK decision to exercise the option, Liquidia will receive an option fee, continued R&D funding, and potential product-based development and regulatory milestone payments. Liquidia has also retained the ability to independently develop an inhaled treatment for a particular disease field.
September 29, 2015
12:33 EDTAMGNOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday as the market seeks to break its losing streak, helped by an improvement in consumer confidence that came despite the recent market volatility. ECONOMIC EVENTS: In the U.S., consumer confidence unexpectedly rose in September. Analysts expected the consumer confidence reading to pull back to 96.8 from the prior 101.5 figure, but it actually strengthened to 103.0. The S&P/Case-Shiller 20-city composite home price index was up a seasonally adjusted 0.2% month over month in July, versus the consensus forecast for a rise of 0.1%. Stocks sold off in much of Asia last night, with China's Shanghai composite index sliding 2% while Japan's Nikkei dropped 4%, erasing year-to-date gains in the process. COMPANY NEWS: Shares of Yahoo (YHOO) advanced 3% after its board authorized the company to continue to pursue its spin-off of Aabaco Holdings, a newly formed independent registered investment company that will hold all of Yahoo's remaining holdings in Alibaba Group (BABA). MAJOR MOVERS: Among the notable gainers was Radius Health (RDUS), which rose nearly 10% after Ben Harrington of the Betaville blog stated during an appearance on Tip TV that he has heard that "something will be happening" in terms of M&A involving the company over the "next few weeks." Also higher were several recently beaten down biotech stocks that were seeing some bounceback, including Vertex Pharmaceuticals (VRTX), which gained 5%, and Biogen (BIIB), which advanced 4%. Notably, both of them, along with Amgen (AMGN), were mentioned in a note to investors by Cowen analyst Ken Cacciatore as "hypothetical" targets for Allergan (AGN). Among the noteworthy losers was OvaScience (OVAS), which dropped 38% after saying it now longer expects to meet its 2015 goal of 1,000 Augment cycles. Esperion (ESPR) also fell 38% after the company warned that the FDA could require it to undertake new studies before its ETC-1002 is approved. INDEXES: Near midday, the Dow was up 7.27, or 0.05%, to 16,009.16, the Nasdaq was up 7.38, or 0.16%, to 4,551.35, and the S&P 500 was up 4.56, or 0.24%, to 1,886.33.
08:57 EDTAMGNCowen lists Vertex, Biogen and Amgen as hypothetical Allergan targets
Cowen analyst Ken Cacciatore noted that the price agreed for Allergan's (AGN) generic divestiture to Teva (TEVA) is fixed and that the cash value from this deal has not depreciated in any way while the corresponding valuations of potential targets have corrected, increasing the potential value creation available for Allergan as it decides how to deploy its capital. To illustrate the value creation that Allergan's capital deployment could generate, Cacciatore estimates the type of accretion potential that might be seen if the company were to buy Vertex with an acquisition price of $36.5B, if it were to acquire Biogen (BIIB) at a price of $91B or if it were to purchase Amgen (AMGN) with an acquisition price of $140B. Although the market correction has lowered Allergan's stock, the decline could be viewed as a near-term positive, given that a key component of its strategy and business model is to seek to aggressively deploy its capital, Cacciatore argues in a note to investors. The analyst keeps an Outperform rating and $400 price target on Allergan shares.
05:42 EDTAMGNAmgen implied volatility of 45 at upper end of index mean range
September 28, 2015
15:24 EDTAMGNAmgen volatility at 52-week high
Amgen October weekly call option implied volatility is at 66, October is at 51, November is a 43; compared to its 52-week range of 20 to 42, suggesting larger near term price movement after presidential candidate Hilary Clinton announced plans last week to cap prescription drug prices.
07:52 EDTGSKIIR Holdings to hold a conference
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07:27 EDTAMGNFDA and the Parental Drug Association to co-host a conference
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05:08 EDTAMGNStocks with implied volatility movement; AMGN XLV
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September 27, 2015
16:58 EDTGSKGlaxoSmithKline, Theravance report Phase 3 data on Anoro Ellipta for COPD
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September 25, 2015
17:33 EDTAMGNDelta Air Lines, Google, Amgen look attractively priced, Barron's says
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07:28 EDTAMGNAmgen receives CHMP positive opinions for two treatment options
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07:22 EDTAMGNEuropean Society for Medical Oncology to hold a conference
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