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Stock Market & Financial Investment News

News Breaks
June 9, 2014
11:29 EDTABBV, IDIX, JNJ, ACHN, GILDHCV players moving after Merck buys Idenix
Shares of several companies that have developed hepatitis C, or HCV, treatments are rising after one such company, Idenix (IDIX), agreed to be acquired by Merck (MRK). Meanwhile, shares of Gilead (GILD) are falling after an analyst wrote that Merck could be in a better position to extract royalties from Gilead following the acquisition. WHAT'S NEW: Merck and Idenix reported this morning that Idenix would be acquired by Merck for $24.50 per share or $3.85B. The purchase price is more than triple the company's closing price on Friday. Idenix has developed a number of HCV treatments. In an interview with Reuters, Merck's R&D chief, Roger Perlmutter said that Indenix's experimental drug, IDX21437, could cure patients with every genotype of HCV within four to six weeks, the news service reported. Currently viewed by many as the leading HCV treatment, Gilead's Solvaldi must be taken for 12 weeks by most patients, according to Gilead's website. REACTION: In an article published by The Street today, blogger Adam Feuerstein wrote that Achillion Pharmaceuticals (ACHN), which has developed its own HCV drugs, could be the next takeover target in the space. Like Gilead's Sovaldi, Achillion's ACH-3422 is a nucleotide, Feurstein noted. After CNBC reported that Johnson & Johnson (JNJ) and Abbvie (ABBV) both made unsuccessful bids for Idenix, Feurstein believes that investors are betting that Achillion could be acquired by Johnson & Johnson or Abbvie. Meanwhile, in a note to investors earlier today, Dr. Joshua Schimmer, an analyst at research firm Piper Jaffray, wrote that some investors believe that Merck acquired Idenix partly to strengthen its hand in patent litigation against Gilead. Patents were likely a key factor in Merck's purchase of Idenix, but analysts have always expected Gielad to pay Merck a royalty on Sovaldi sales, the analyst wrote. Moreover, Sovaldi is likely to constitute a much lower percentage of Gilead's HCV sales going forward as the company develops new combination therapies, Schimmer contended. He kept an Overweight rating on the stock. PRICE ACTION: In late morning trading, Achillion climbed 39% to $4, Gilead dropped 4% to $79, and Idenix soared 230% to $24.
News For IDIX;GILD;JNJ;ABBV;ACHN From The Last 14 Days
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March 24, 2015
08:00 EDTGILDGilead shares should be bought on weakness, says Bernstein
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07:45 EDTJNJFDA Pediatric Advisory Committee holds a meeting
The Committee discusses pediatric-focused safety reviews, as mandated by the FDA Safety and Innovation Act (FDASIA) for Eli Lilly's Cymbalta, Pfizer's Quillivant XR and Revatio, Johnson & Johnson's Risperdal, GlaxoSmithKline's Advair, HFA Altabax Ointment and Fluarix Quadrivalent, Supernus Pharmaceuticals' Oxtellar XR, Teva Pharmaceutical's Qnasl and Roche's Invirase. The Committee will also discuss the safety ongoing propriety of the humanitarian device exemption for the Medtronic Activa Dystonia Therapy and for the Liposorber LA-15 System in a meeting being held in Silver Spring, Maryland on March 24 at 8 am. Webcast Link
March 23, 2015
16:01 EDTGILDOptions Update; March 23, 2015
iPath S&P 500 VIX Short-Term Futures down 48c to 25.24 Option volume leaders: AAPL TSLA TWTR GILD CELG FB TSLA AMZN TEVA PBR according to Track Data.
11:45 EDTGILDGilead defended after slide following death of Hep C patient on heart drug
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11:32 EDTGILDStocks with call strike movement; GILD CELG
Gilead (GILD) August 115 call option implied volatility increased 5% to 27, Celgene (CELG) July 140 call option implied volatility increased 3% to 28 according to IVolatility.
09:37 EDTGILDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AUY SLB PFE MCP CELG VRTX SHPG GILD LOGI TSLA TASR NFLX SCTY WFM
09:03 EDTJNJ, ABBVLeerink analysts hold a meeting with a conference call hookup
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08:44 EDTGILDGilead volatility low into FDA hepatitis C drug warning
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08:23 EDTGILDGilead weakness a buying opportunity, says RW Baird
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07:40 EDTGILDGilead weakness on FDA warning would be buying opportunity, says Wells Fargo
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07:17 EDTABBVAmerican Academy of Dermatology to hold annual meeting
73rd Annual Meeting of AAD is being held in San Francisco on March 20-24.
06:08 EDTGILDGilead implied volatility of 23 at lower end of index mean range
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March 22, 2015
15:05 EDTGILDGilead warns after hepatitis C patient taking heart drug dies, Bloomberg says
Gilead said in an e-mailed drug warning to health-care providers on Friday that nine patients taking its hepatitis C drugs Harvoni or Sovaldi along with the heart treatment amiodarone developed abnormally slow heartbeats and one died of cardiac arrest, says Bloomberg. Reference Link
March 20, 2015
16:00 EDTGILDOptions Update; March 20, 2015
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15:02 EDTGILDAcelRx names Howard Rosen as interim CEO
AcelRx Pharmaceuticals (ACRX) announced the appointment of Howard Rosen as interim CEO of AcelRx, effective April 1. Rosen is a technically trained executive with over 25 years of success growing start-up and mid-size biopharmaceutical companies. Rosen previously held senior-level general management positions and functional roles in strategy, marketing, finance, business development, and research and development at Gilead Sciences (GILD) and ALZA Corporation. Rosen has served on the Board of Directors of AcelRx since 2008 and currently serves on the Board of Directors of Alcobra and several private biopharmaceutical companies.
07:41 EDTABBVAmerican Academy of Dermatology to hold annual meeting
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March 19, 2015
16:01 EDTGILDOptions Update; March 19, 2015
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09:08 EDTGILDNew Gilead HIV drug likely to be approved in mid-2015, says Argus
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08:47 EDTABBVAbbVie and C2N sign worlwide license agreement for Alzheimer's Disease therapy
AbbVie has entered into an exclusive worldwide license agreement with C2N Diagnostics, a privately held protein diagnostic and therapeutic discovery company, to develop and commercialize a portfolio of anti-tau antibodies for the treatment of Alzheimer's Disease and other neurological disorders. Financial terms of the collaboration were not disclosed.
07:56 EDTABBVAbbVie plans $30M expansion at plant in Puerto Rico, AP reports
AbbVie is planning to expand one of its facilities in Barceloneta, Puerto Rico, The Associated Press reports. The $30M expansion is slated for a plant that manufactures products related to immunology, virology and metabolic disorders. Reference Link
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