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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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January 20, 2015
09:21 EDTJNJJ&J says negative impact of currency to be 'more significant' than expected
Says currency impact will be more significant in 1H than in 2H.
09:20 EDTJNJJ&J says 'comfortable' with models reflecting midpoint of FY EPS view
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09:18 EDTJNJJohnson & Johnson sees FY15 reported sales $75B-$76B
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09:18 EDTJNJJohnson & Johnson CEO says core businesses 'strong'
Johnson & Johnson (JNJ) providing sustainable, high quality healthcare "one of society's greatest challenges." Says core businesses "strong," positioned to continue expanding their leadership positions. CEO Alex Gorsky says company is changing the way it interacts with customers, evolving to be more "effective," "efficient." Says U.S. OTC consent decree requirements completed. Says in the process of developing a China lung center. Says still plans to take $1B out of P&L in next three years. Says aims to bring Ebola vaccine to market "as fast as possible." Says "well-positioned" for long-term. Says currency headwinds have increased "quite substantially," negatively impacting sales, earnings to greater extent than company had anticipated. Sees Depomed (DEPO) transaction closing in Q2. Expects R&D tax credit will be renewed in 2015. If R&D tax credit is approved, sees effective tax rate for 2015 of approx. 20%-21%. Sees operational sales growth for 2015 approx. 6%. Says Wall Street forecasts may not adequately reflect likely negative impact in 2015 of foreign exchange. Sees FY15 operational sales growth 1%-2% in constant currency. Comments made on the Q4 earnings conference call.
08:18 EDTJNJJohnson & Johnson sees 10 major Pharmaceuticals filings from 2013-2017
Sees 10 major filings, 25 line extensions in Pharmaceuticals expected between 2013-2017. Sees about 100 ongoing discovery projects, 50 novel compounds in early development, 5 breakthrough designations. Sees 30 major Medical Devices filings expected from 2014-2016, 20 key Consumer product launches expected global in 2015. Says near-term priorities include: Accelerating growth in Medical Devices through innovation, expanding market leadership in key consumer segments like OTC, Oral Care, Baby and Beauty. Comments from slides that will be presented on the Q4 earnings conference call.
07:52 EDTJNJJohnson & Johnson reports Q4 Pharmaceutical sales $8B
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07:48 EDTJNJJohnson & Johnson sees FY15 adjusted EPS $6.12-$6.27, consensus $6.13
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07:46 EDTJNJJohnson & Johnson reports Q4 EPS ex-items $1.27, consensus $1.26
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January 16, 2015
16:29 EDTJNJOn The Fly: Closing Wrap
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14:54 EDTGILDGilead at high of day, up 3% after reaching hep C drug pact with Aetna
14:46 EDTGILDAetna, Gilead confirm discount pricing for hepatitis C drugs Harvoni, Sovaldi
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13:05 EDTGILDGilead granted orphan status for pulmonary arterial hypertension treatment
The FDA granted Gilead orphan status for its treatment of pulmonary arterial hypertension. Reference Link
13:01 EDTJNJEarnings Preview: Johnson & Johnson reports after recent Goldman downgrade
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12:43 EDTJNJOn The Fly: Midday Wrap
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10:10 EDTABBVAbbVie announces FDA approval of DUOPA enteral suspension
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09:37 EDTGILDActive equity options trading
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08:58 EDTJNJRoth Capital says Depomed now leading pain company, ups to Buy
Roth Capital upgraded Depomed (DEPO) to Buy from Neutral saying the Nucynta transaction transforms the company into a "leading pain company now with critical mass." Roth raised its price target for shares to $25. Depomed last night announced that it acquired the U.S. rights to the Nucyntafranchise for $1.05B from Johnson & Johnson's (JNJ) Jansen unit. Depomed is trading up 9% in pre-market trading to $19.19.
08:12 EDTJNJJohnson & Johnson forms Ebola vaccine development consortia
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07:04 EDTABBVEnanta says EU grants marketing authorizations for AbbVie's Viekirax
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05:05 EDTABBVAbbVie granted marketing authorization by EC for VIEKIRAX + EXVIERA
AbbVie announced that the European Commission has granted marketing authorizations for its all-oral, short-course, interferon-free treatment of VIEKIRAX + EXVIERA. The treatment has been approved with or without ribavirin for patients with genotype 1 chronic hepatitis C virus infection, including those with compensated liver cirrhosis, HIV-1 co-infection, patients on opioid substitution therapy and liver transplant recipients.1,2 Additionally, VIEKIRAX has been approved for use with RBV in genotype 4 chronic hepatitis C patients.
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