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April 22, 2014
10:36 EDTNVS, LLYEli Lilly sees Novartis deal as accretive on a cash basis by 2016
Eli Lilly (LLY) sees acquisition of Novartis (NVS) Animal Health generating over $200M in annual cost synergies within three years post-closing. In the slides presentation accompanying the conference call for the deal, Lilly sees combined business to generate mid-20% EBIT margin by 2017-2018. Lilly sees the deal as accretive on a cash basis by 2016 excluding integration costs by 2017.
News For LLY;NVS From The Last 14 Days
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September 28, 2015
19:11 EDTLLYOn The Fly: After Hours Movers
HIGHER: Yahoo (YHOO), up 3.3% after the board authorized Yahoo to continue to pursue the Aabaco spin-off plan... Cheniere Energy (LNG), up 0.67% after Carl Icahn raised his stake in the company to 11.43%... Republic Airways (RJET), up 7.4% after the company was upgraded to Buy from Hold at Deutsche Bank... Exelon (EXC) and Pepco (POM), higher by 1% and 2.4%, respectively, after the DC Mayor's office released a statement confirming discussions of a settlement agreement with the companies. LOWER AFTER EARNINGS: SYNNEX (SNX), down 2.7% after the company reported Q3 results, gave Q4 guidance, and raised its quarterly dividend. ALSO LOWER: Zosano (ZSAN), down 52.5% after it discontinued development of its Daily ZP-PTH treatment for severe osteoporosis and terminated a collaboration agreement with Eli Lilly (LLY)... OvaScience (OVAS), down 15.9% after the company announced it doesn't expect to meet its previous 2015 goal of 1,000 Augment treatment cycles.
12:22 EDTNVSArray says binimetinib-encorafenib combo shows differentiated tolerability
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09:35 EDTLLYEli Lilly and Sanofi reach settlement agreement in glargine litigation
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09:33 EDTLLYSanofi reaches patent settlement with Eli Lilly on Lantus
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08:04 EDTLLYEli Lilly announces study of Cyramza in combination met primary end
A Phase II study of Eli Lilly's CYRAMZA in combination with docetaxel met its primary endpoint, demonstrating a statistically significant increase in progression-free survival (PFS) for patients with locally advanced or metastatic urothelial carcinoma who failed prior platinum-based therapy. Bladder cancer accounts for the vast majority of all urothelial carcinoma. Final results of the Phase II trial were presented at the European Cancer Congress (ECC2015) in Vienna, Austria on September 27. Based on these findings, Lilly recently initiated a Phase III trial called RANGE, which has begun to enroll patients. The three-arm trial evaluated 140 patients with advanced carcinoma of the urothelial tract who, after a first-line platinum-based chemotherapy regimen, had relapsed up to one year following the initial treatment. Patients were randomized to receive either a combination of ramucirumab and docetaxel, docetaxel alone (n=45), or a combination of icrucumab and docetaxel. Treatment continued until disease progression or toxicity levels resulted in an interruption of treatment with one or more of the study medicines.
07:58 EDTNVSNovartis to hold a conference call
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07:38 EDTLLYBox to hold a user conference
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07:27 EDTLLYFDA and the Parental Drug Association to co-host a conference
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September 27, 2015
18:48 EDTNVSNovartis reports updated Phase 3 data on Tafinlar-Mekinist for melanoma
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16:16 EDTNVSNovartis reports Phase 3 reults on Afinitor for neuroendocrine tumors
Novartis announced results of a Phase 3 pivotal study showing Afinitor, or everolimus, tablets reduced the risk of progression by 52% versus placebo in patients with advanced, progressive, nonfunctional neuroendocrine tumors of gastrointestinal or lung origin. Additionally, the data show everolimus, a mammalian target of rapamycin inhibitor, extended median progression free survival by 7.1 months. Median PFS by central review was 11 months in the everolimus arm and 3.9 months in the placebo arm. Overall survival was a key secondary endpoint of the trial. While the OS data are not mature, the first interim analysis showed a trend favoring the everolimus arm, according to Novartis. Additional analyses are planned. Another secondary endpoint was best overall response rate. The study found that 64% of patients receiving everolimus experienced at least some degree of tumor shrinkage compared to 26% of those on placebo. Adverse events were consistent with the known safety profile of everolimus. The results of the RADIANT-4 study will serve as the basis of worldwide regulatory submissions for Afinitor for the treatment of advanced, progressive, nonfunctional GI and lung NET, Novartis said.
September 25, 2015
07:22 EDTLLY, NVSEuropean Society for Medical Oncology to hold a conference
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05:15 EDTNVSNovartis announces CHMP adopted positive opinion for Entresto
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September 24, 2015
18:38 EDTNVSNovartis CEO discusses drug pricing, paying doctors, Washington Post reports
Novartis CEO Joseph Jimenez said in an interview with the Washington Post, "Drug pricing is a very complicated topic because we invest in high-risk activity... So when we price a drug, we price it based on the value it will bring into that marketplace, and also how its price compares to the other therapies currently on the market. There's been a lot of discussion about drug pricing. What we have to do is we have to shift that conversation away from the price toward the value. Like, what exactly is the value of this drug that is going to result in a positive outcome? And is society willing to pay for that drug? At Novartis, we take a little bit of a different approach than our peers. Not only are we a large, innovative drug manufacturer, but we also are the second largest generics manufacturer... I also believe at Novartis that the day that patents expire, it's our obligation to offer a low-cost version in a generic form." Discussing the practice of drug companies paying doctors to prescribe particular drugs, Jiminez said, "It's unfortunate, because that's a situation where society's expectations have changed to the point where even doing what's legal is not doing what's right. What we have to do is, we have to find new ways to educate physicians about our new drugs... We're looking at ways digitally to communicate with physicians and at some new tools, so we can stay ahead of the curve. So rather than wait for regulations to change, Novartis can step back and say, 'We're going to do what society would expect us to do, not just do what's legal.'" Reference Link
09:07 EDTNVSUnilife ammends clinical supply agreement with Novartis
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September 22, 2015
07:43 EDTLLY, NVSDrug stocks could be hurt by focus on pricing, says Oppenheimer
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06:19 EDTNVS, LLYClinton to roll out plan to rein in prescription drug costs, USA Today reports
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September 21, 2015
14:28 EDTNVS, LLYTuring CEO says will not change Daraprim price despite criticism
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11:24 EDTLLY, NVSHillary Clinton vows to take on 'outrageous' specialty drug pricing
Hillary Clinton, on the heels of a Wall Street Journal report detailing Turing Pharmaceuticals' price hike to $750 from $13.50 per pill of a drug called Daraprim which treats a life-threatening parasitic infection, vowed to lay out a plan tomorrow to take on what she calls "price gouging" of specialty drugs. The presidential nominee stated in a tweet, "Price gouging like this in the specialty drug market is outrageous. Tomorrow I'll lay out a plan to take it on." The iShares Nasdaq Biotechnology Index (IBB) moved lower following Clinton's tweet.
08:36 EDTLLYBofa/Merrill pharmaceuticals analysts hold analyst/industry conference call
Analysts, along with diabetes experts Drs. Richard Pratley and Jochen Seufert, discuss the recent EMPA-REG OUTCOME data presented at the recently held European Association for Study of Diabetes (EASD) Annual Meeting including Eli Lilly's SGLT2 inhibitor, Jardiance (empagliflozin), on an Analyst/Industry conference call to be held on September 21 at 10 am.
06:07 EDTLLYEli Lilly price target raised to $90 from $83 at JPMorgan
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