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Stock Market & Financial Investment News

News Breaks
August 25, 2014
10:40 EDTITMN, ALIOF, ARIA, CELG, GSK, MNK, RHHBY, SNY, GILDBiotechs rise after InterMune acquired by Roche
Shares of a number of biopharmaceutical companies are climbing after drug maker Roche (RHHBY) agreed to buy its smaller peer, Intermune (ITMN). InterMune focuses on developing treatments for respiratory and orphan fibrotic diseases. WHAT'S NEW: Roche agreed to buy InterMune for $74 per share in an all-cash transaction, the companies announced yesterday. InterMune's stock closed at $53.80 on Friday and the takeover price represents a premium of 38% to InterMune's closing price on August 22 and a premium of 63% to InterMune's closing price on August 12, the companies stated. WHAT'S NOTABLE: On August 11, an investment blog, "Betaville," said that InterMune was rumored to be exploring strategic options. On August 13, Bloomberg reported that InterMune had received takeover bids from Roche, Sanofi (SNY), GlaxoSmithKline (GSK) and Actelion (ALIOF). InterMune was evaluating the bids, the news service stated at the time. ANALYST REACTION: In a note to investors earlier today, research firm Bernstein wrote that the deal makes sense strategically for Roche. The transaction "rounds out" the company's respiratory based offerings and it makes sense for the company to diversify, according to the firm, which kept an Outperform rating on Roche. PRICE ACTION: In mid-morning trading, InterMune soared 36% to $73 and Roche shares trading in New York added 0.7% to $36.56. Meanwhile, Gilead (GILD) rose 2.6% to $106.67, Celgene (CELG) advanced 2% to $93.50, MannKind (MNKD) gained 3.4% to $7.36, and Ariad Pharmacticals (ARIA) climbed 3% to $6.09.
News For ITMN;RHHBY;CELG;GILD;MNK;ARIA;SNY;GSK;ALIOF From The Last 14 Days
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January 12, 2015
12:10 EDTCELGRBC Capital says Celgene's shares could rise to $200 'over time'
The long-term profit guidance that Celgene (CELG) released today suggests that the stock, currently trading around $115, could reach $200 "over time," RBC Capital wrote in a note to investors today. WHAT'S NEW: After Celgene estimated that its EPS would exceed $12.50, excluding certain items, by 2020, RBC Capital says that the guidance exceeded the firm's previous outlook. RBC added that Celgene's projection increases its confidence in the predictability of the drug maker's performance over the longer term. The firm recommended that investors own Celgene in 2015, noting that the company has the potential to settle its patent case with Actavis (ACT). A settlement would enable investors to focus on Celgene's visible long-term growth and the robust opportunity provided by its drugs in development, RBC stated. Historically, investors have not given Celgene credit for these strengths, the firm stated. PRICE ACTION: In early afternoon trading, Celgene rose 1.5% to $115.35.
12:04 EDTGSKNovartis sees closing GSK transactions in 1H15
Novartis (NVS) says portfolio transformation is progressing "on track." Sees closing GlaxoSmithKline (GSK) transactions in 1H. In 2015, plans to execute integration of GSK oncology business, execute separation of Vaccines, ensure successful start-up of Consumer Health JV with GSK. Sees NBS to continue to deliver synergies. Comments from slides that are being presented at the JP Morgan Healthcare Conference.
11:09 EDTCELGCelgene sees 2020 adjusted EPS over $12.50, sales above $20B
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11:06 EDTCELGCelgene backs FY17 target for adjusted EPS $7.50, sales $13B-$14B
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11:03 EDTCELGCelgene sees FY15 Revlimid sales $5.6B-$5.7B
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11:02 EDTCELGCelgene sees Q4 adjusted EPS $1.01, consensus 99c
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11:02 EDTCELGCelgene sees FY14 adjusted EPS $3.71, consensus $3.69
Sees FY14 net product sales $7.56B, consensus $7.66B. Sees FY14 Revlimid sales $4.98B, Abraxane sales $848M, Pomalyst/Imnovid sales $680M and Otezla sales $70M.
10:59 EDTCELGCelgene sees FY15 adjusted EPS $4.60-$4.75, consensus $4.84
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10:56 EDTCELGCelgene says no higher priority that accelerating development of Crohn's drug
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10:53 EDTCELGCelgene says Otezla scripts accelerated in Q4
10:51 EDTCELGCelgene reports FY14 EPS $3.71, consensus $3.69
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10:44 EDTCELGCelgene CEO says company expects to meet, exceed 2017 guidance
The company is speaking at JPMorgan's conference.
09:34 EDTGILDActive equity options trading
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08:37 EDTGSK, RHHBY, SNYShire deal suggests most biotech companies in play, says JMP Securities
After Shire (SHPG) agreed to buy NPS Pharmaceuticals (NPSP), JMP Securities says the deal indicates that most biotech companies are in play, particularly those with worldwide rights to their products for well-defined patient populations. The firm expects investors to speculate all week about potential new targets in the space. Publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
07:21 EDTITMNEBD Group to hold a conference
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06:40 EDTRHHBYFoundation Medicine to host conference call
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06:22 EDTGSKWHO approves 2 ebola vaccines to enter West Africa trials, Financial Times says
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05:25 EDTRHHBYFoundation Medicine up 100.6% following transaction with Roche
05:22 EDTRHHBYFoundation Medicine announces strategic collaboration with Roche
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05:21 EDTRHHBYRoche to acquire majority interest in Foundation Medicine for $50 per share
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