|April 23, 2014|
|04:55 EDT||MBLTY, MBLTY, MBLTY, AZN, AZN, AZN, PFE, PFE, PFE, JNJ, JNJ, JNJ, MRK, MRK, MRK, NBS, NBS, NBS, XOMA, XOMA, XOMA, NVO, NVO, NVO, SNY, SNY, SNY, LLY, LLY, LLY||Global Technology Community to hold a summit|
7th Annual Diabetes Summit is being held in Cambridge, MA on April 23-25.
News For MBLTY;SNY;NVO;XOMA;NBS;MRK;JNJ;PFE;AZN;LLY From The Last 14 Days
|September 22, 2015|
|20:02 EDT||PFE||Clinton vows $250 cap on monthly drug costs in blast against biotechs, insurers|
Democratic presidential candidate Hillary Clinton railed against biotech companies as well as health insurers at a community health care forum in Iowa on Tuesday. Clinton began her speech by praising the Affordable Care Act, but quickly noted that she wants to strengthen it due to what she called the rising cost of prescription drugs. She explained, "Our pharmaceutical and biotechnology industries deserve credit... [But] too often, these drugs cost a fortune. Now, sometimes there is a good reason for that. Scientific breakthroughs are often the result of major investment... so it may makes sense, for a short period of time, to have to charge a lot of money for a drug. But when a drug has no competition, when there aren't any other treatments that can do what it does, pharmaceutical companies can charge astronomical fees far beyond anything that it would take to recoup their investment, and far beyond what they charge consumers anywhere else in the world outside of America." Referencing the recent criticism against Turing Pharmaceuticals, Clinton went on to say that "pharmaceutical companies that acquire an existing affordable drug that people rely on, and then turn around and charge a fortune for it, [are just betting] on the fact that desperate people will find some way to pay for it." Preemptively responding to questions of whether greater regulation will dampen investment, Clinton commented that "some people worry that my proposals will threaten innovation, but I have designed a plan that will do exactly the opposite... Under my plan, drug companies that want to keep getting federal support will have to redirect more of their profits into meaningful investments in research and development." Clinton also criticized incremental drug improvements, saying that "too often, so-called new drugs are really old drugs that have just been tweaked a little bit, but then they're marketed as breakthrough drugs and they're sold for high prices." The Democratic candidate went on to condemn advertising in the drug industry, remarking that "I also want to tackle direct to consumer advertising... Other countries ban these ads because they are so often misleading. But at the very least, we shouldn't be encouraging them with corporate write-offs... Under my plan, we will instead use that taxpayer money to fund innovation... I would also like to make sure any ads the drug industry does run are approved by the FDA." Moving more broadly onto Medicaid and health insurers, Clinton stated, "I believe Medicare should be able to negotiate for lower prices for its members... I will require drug companies to provide higher rebates for prescription drugs to low income Medicare patients, just like they have to do for Medicaid patients... I think the insurance companies need to be put on notice." Providing more concrete details of her plan, Clinton concluded, "I will cap out of pocket drug costs for working families. You won't have to pay more than $250 a month for covered medications... Particularly for people who have a chronic illness. Also under my plan, you will be able to import cheaper drugs from other countries legally. If the medicine you need costs less in Canada, you should be able to buy it from Canada or any other country that meets our safety standards... I will also make sure we have more generics on the market [by boosting funding for] the FDA's office of generic drugs."
|17:35 EDT||PFE||Hillary Clinton vows to cap out-of-pocket drug costs at $250 per month|
Presidential candidate Hillary Clinton said in a tweet that, "Under my plan, I'll cap out-of-pocket drug costs for families. You won't have to pay more than $250/month for covered medications." Reference Link
|10:01 EDT||JNJ||On The Fly: Analyst Initiation Summary|
Today's noteworthy initiations include: ACE Limited (ACE) initiated with a Buy at Sterne Agee CRT... AXIS Capital (AXS) initiated with a Neutral at Sterne Agee CRT... Abbott (ABT) initiated with a Neutral at UBS... Adamas Pharmaceuticals (ADMS) initiated with a Buy at Aegis... Advaxis (ADXS) initiated with an Overweight at Barclays... Allstate (ALL) initiated with a Buy at Sterne Agee CRT... Aon plc (AON) initiated with a Neutral at Sterne Agee CRT... Arch Capital (ACGL) initiated with a Neutral at Sterne Agee CRT... Ardelyx (ARDX) initiated with a Buy at BTIG... Aspen Insurance (AHL) initiated with a Neutral at Sterne Agee CRT... AtriCure (ATRC) initiated with a Sell at UBS... Baxalta (BXLT) initiated with a Buy at UBS... Baxter (BAX) initiated with a Neutral at UBS... Blue Buffalo Pet Products (BUFF) initiated with an Equal Weight at Stephens... Boston Scientific (BSX) initiated with a Buy at UBS... Capstone Turbine (CPST) initiated with a Buy at Rodman & Renshaw... CenturyLink (CTL) initiated with a Sector Perform at RBC Capital... Cerulean (CERU) initiated with an Overweight at Barclays... Chubb (CB) initiated with a Buy at Sterne Agee CRT... Cogent (CCOI) initiated with an Outperform at RBC Capital... Conatus (CNAT) initiated with a Buy at H.C. Wainwright... Edwards Lifesciences (EW) initiated with a Buy at UBS... Everest Re (RE) initiated with a Neutral at Sterne Agee CRT... Farmers National Banc (FMNB) initiated with an Outperform at Keefe Bruyette... Freshpet (FRPT) initiated with an Equal Weight at Stephens... Frontier Communications (FTR) initiated with a Sector Perform at RBC Capital... Globus Medical (GMED) initiated with a Buy at UBS... Halozyme (HALO) initiated with an Overweight at Barclays... Infoblox (BLOX) initiated with a Buy at Stifel... Isis Pharmaceuticals (ISIS) initiated with an Equal Weight at Barclays... Johnson & Johnson (JNJ) initiated with a Buy at UBSK2M Group (KTWO) initiated with a Buy at UBS... LDR Holding (LDRH) initiated with a Buy at UBS... Landmark Infrastructure (LMRK) initiated with a Buy at Wunderlich... Level 3 (LVLT) initiated with an Outperform at RBC Capital... Main Street (MAIN) initiated with an Outperform at RBC Capital... Marsh & McLennan (MMC) initiated with a Neutral at Sterne Agee CRT... Medtronic (MDT) initiated with a Buy at UBS... Middlefield Banc (MBCN) initiated with a Market Perform at Keefe Bruyette... Nokia (NOK) initiated with a Buy at CLSA... NuVasive (NUVA) initiated with a Buy at UBS... Piper Jaffray (PJC) initiated with a Buy at Sandler O'Neill... Planet Fitness (PLNT) initiated with an Outperform at Wedbush... Progressive (PGR) initiated with a Neutral at Sterne Agee CRT... QTS Realty Trust (QTS) initiated with an Outperform at RBC Capital... Reliance Steel (RS) initiated with a Sell at Rosenblatt... RenaissanceRe (RNR) initiated with a Neutral at Sterne Agee CRT... Spectranetics (SPNC) initiated with a Buy at Benchmark Co.... St. Jude Medical (STJ) initiated with a Buy at UBS... Stanley Black & Decker (SWK) initiated with a Neutral at Buckingham... Stryker (SYK) initiated with a Neutral at UBS... Travelers (TRV) initiated with a Neutral at Sterne Agee CRT... Vascular Biogenics (VBLT) initiated with a Buy at Chardan... W. R. Berkley (WRB) initiated with a Neutral at Sterne Agee CRT... WPX Energy (WPX) initiated with a Neutral at Citi... Wright Medical (WMGI) initiated with a Buy at UBS... XL Group (XL) initiated with a Buy at Sterne Agee CRT... Zendesk (ZEN) initiated with a Buy at Craig-Hallum... Zimmer Biomet (ZBH) initiated with a Neutral at UBS.
|08:23 EDT||PFE||Analysts say buy select biotech stocks ahead of Clinton drug plan|
Ahead of Presidential candidate Hillary Clinton laying out her plan to tackle "price gouging" in the specialty drug market at an event in Iowa later today, analysts at research firms Jefferies and Piper Jaffray are recommending select biotech stocks that they view as buys amid the weakness in the space. DEBATE: Biotech stocks broadly declined yesterday, with the NASDAQ Biotechnology index (IBB) sliding roughly 4.4%, after privately-held Turing Pharmaceuticals made headlines by enacting a 5,000% price increase on a 62-year-old drug that fights complication of AIDS and cancer. Furor around the sudden price hike for Turing's Daraprim reignited a debate around drug prices that previously embroiled costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni. The news also follows Presidential candidate Bernie Sanders issuing a letter in August to Valeant (VRX) and Pfizer's (PFE) Hospira, in which he requested information on the "enormous" price increases of two drugs Valeant acquired earlier in the year. Presidential candidate Hillary Clinton sent the debate to center stage yesterday by criticizing the "outrageous" prices of specialty drugs and promising to lay out a plan today to tackle "price gouging" in the specialty drug market. Clinton's proposal, which she'll outline in a speech in Iowa later today, would force pharmaceutical companies to reinvest their profits into research, allow for more generic and imported drugs and allow Medicare to negotiate lower drug costs and cap out-of-pocket expenses, according to details of the plan shared with USA Today. Zeke Emanuel, chair of medical ethics and health policy at the University of Pennsylvania, appeared on Nightly Business Report to discuss the problem of high drug prices and his suggested solutions. During his interview, Emanuel contended that giving Medicare the ability to negotiate drug prices may drive up prices for everyone else. DEFENSES: The Jefferies Biotechnology research team, led by Brian Abrahams, Eun Yang and Biren Amin, say their Washington D.C. consultants indicate the recent political rhetoric around drug pricing is unlikely to result in any substantive future policy changes that would impact biotech sector fundamentals. As such, they recommend using yesterday's selloff to buy select companies including Celgene (CELG), BioMarin (BMRN) and Alkermes (ALKS). Pricing concerns are nothing new, and will likely continue to be a headwind for the sector, the analysts tell investors in a research note. Hillary Clinton's proposal to combat drug pricing is likely to include "some combination of old and tried policies that have been out there for a few years," they write. The analysts also like shares of AMAG Pharmaceuticals (AMAG), Alder Biopharmaceuticals (ALDR) and Cempra (CEMP). Meanwhile, Piper Jaffray analyst Edward Tenthoff recommends buying shares of Vertex Pharmaceuticals (VRTX) following yesterday's selloff. Tenthoff believes that drugs like Vertex's Orkambi will maintain premium pricing because of the disease modifying value to patients and payors. Orkambi is approved to treat cystic fibrosis in patients 12 years and older. The analyst reiterates an Overweight rating on Vertex with a $163 price target. DOWNGRADE: Brean Capital analyst Difei Yang downgraded Horizon Pharma (HZNP) to Hold saying "unsettling recent developments" make the stock's premium valuation no longer justified. The public discussion on high drug prices is a negative for the company while its attempt to acquire Depomed (DEPO) is unlikely to result in a completed deal, Yang tells investors in a research note. Further, Horizon's prescription trends are showing weakness, said Yang, who views the stock as more risky than in the past. PRICE ACTION: Horizon closed yesterday down $2.93, or 9.2%, at $28.99, while Vertex dropped $5.97, or 4.8%, to $118.19. A number of the biggest stocks in biotechnology were also weak yesterday, with Gilead sliding about 2.5%, Amgen (AMGN) dropping 2.3%, Celgene declining 2.8% and Biogen (BIIB) falling more than 5.5%.
|08:02 EDT||AZN||AstraZeneca to present 33 abstracts from respiratory disease portfolio at ERS |
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|07:43 EDT||AZN, JNJ, LLY, SNY, MRK, PFE||Drug stocks could be hurt by focus on pricing, says Oppenheimer|
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|07:17 EDT||AZN||AstraZeneca eyes crowd sourcing for better cancer drug cocktails, Reuters says|
AstraZeneca's decision release preclinical data from over 50 of its medicines is "unprecedented" in scale and will speed up the hunt for tumor-fighting drug combinations, Reuters says. The company is aiming for a crowd sourcing initiative to help mix the future's cancer drug cocktails, the report says. Reference Link
|06:32 EDT||JNJ||Johnson & Johnson initiated with a Buy at UBS|
|06:19 EDT||MRK, LLY, SNY, JNJ, AZN, PFE||Clinton to roll out plan to rein in prescription drug costs, USA Today reports|
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|September 21, 2015|
|16:53 EDT||MRK||On The Fly: Top stock stories for Monday|
Stocks on Wall Street began the session in positive territory and remained there for most of the morning. The Nasdaq was the first index to show signs of weakness after Hillary Clinton pledged to address the high cost of specialty drugs, sinking multiple biotech stocks. The averages later recovered from their afternoon lows, with both the Dow and S&P posting gains and the Nasdaq narrowly finishing in the green after Monday's drug pricing debate. ECONOMIC EVENTS: In the U.S., existing home sales fell 4.8% to a 5.31M rate in August, versus expectations for them to be down 1.6% to a rate of 5.5M. Over the weekend, three Federal Reserve officials, namely San Francisco Fed President John Williams, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker, all argued that an interest-rate increase is still warranted this year. COMPANY NEWS: Biotech stocks declined after privately-held Turing Pharmaceuticals made headlines by enacting a 5,000% price increase on its treatment for toxoplasmosis, reigniting a debate around drug prices that previously embroiled costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni. Presidential candidate Hillary Clinton sent the debate to center stage by criticizing the "outrageous" prices of specialty drugs and promising to lay out a plan tomorrow to tackle "price gouging" in the specialty drug market. The NASDAQ Biotechnology index fell roughly 4.4% following the attention paid to Turing's drug and Clinton's response... Shares of Volkswagen (VLKAY) trading in New York dropped 17.1% to $30.10 after the EPA and California Air Resources Board detected manipulations that violate U.S. environmental standards while testing certain Volkswagen diesel cars. The EPA said Volkswagen may face civil penalties of $37,500 for each vehicle not in compliance with federal clean air rules, which could total as much as $18B, according to Reuters... Apple (AAPL), which has previously been reported to be working on an electric car via its "Project Titan," is speeding up those efforts and setting 2019 as a target to ship its first vehicle, according to The Wall Street Journal. Shares of Tesla Motors (TSLA) were volatile following the Journal's report, but closed the day up 1.37% at $264.20. MAJOR MOVERS: Among the notable gainers was Atmel (ATML), which surged 12.65%, to $8.19 after agreeing to be acquired by German chipmaker Dialog Semiconductor in a deal valued at roughly $4.6B. Also higher was Starwood Waypoint (SWAY), which gained $2.89, or 12.70%, to $25.64 after announcing a stock-for-stock merger agreement with Colony American Homes. Additionally, Pandora (P) rose 8.17% to $21.31 after receiving an interim opinion from the Register of Copyrights regarding the company's agreements with Merlin and Naxos. Among the noteworthy losers was GoPro (GPRO), which fell $2.88, or 8.19%, to $32.27 after Barron's contended that the company's stock could plunge another 30% to $25 as Apple, Sony (SNE), and others pressure the company's "one-hit wonder" products. Also lower was Mallinckrodt (MNK), which lost $8.23, or 10.02%, to $73.87 after ANI Pharma (ANIP) announced plans to acquire two new drug applications from Merck (MRK) that could compete with Acthar, Mallinckrodt's largest product. Separately, D.R. Horton (DHI) dipped 2.91% after the August U.S. existing home sales report showed a 4.8% drop for the month. Note also that Lennar (LEN) slipped 0.27% after its quarterly earnings report beat analyst estimates. INDEXES: The Dow rose 125.61, or 0.77%, to 16,510.19, the Nasdaq added 1.73, or 0.04%, to 4,828.96, and the S&P 500 gained 8.94, or 0.46%, to 1,966.97.
|14:28 EDT||JNJ, PFE, LLY, AZN, MRK, SNY||Turing CEO says will not change Daraprim price despite criticism|
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|13:57 EDT||JNJ||Smith & Nephew jumps as M&A speculation renewed, FT reports|
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|12:55 EDT||MRK||On The Fly: Top stock stories at midday|
Stocks began the session with a triple digit gain for the Dow and remained in a fairly narrow range for most of the morning. However, once the European markets closed, the U.S. averages weakened and are now struggling to remain in positive ground. ECONOMIC EVENTS: In the U.S., existing home sales fell 4.8% to a 5.31M rate in August, versus expectations for them to be down 1.6% to a rate of 5.5M. Over the weekend, three Federal Reserve officials, namely an Francisco Fed President John Williams, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker, all argued that an interest-rate increase is still warranted this year. In Europe, Alexis Tsipras' Syriza party gained 35.5% of the vote in the Greek election. COMPANY NEWS: Shares of Volkswagen (VLKAY) trading in Germany plunged and the ADRs trading in New York dropped more than 17.5% after the EPA and California Air Resources Board detected manipulations that violate American environmental standards while testing Volkswagen diesel cars. The EPA said Volkswagen may face civil penalties of $37,500 for each vehicle not in compliance with federal clean air rules, which could total as much as $18B, according to Reuters... Time Warner's (TWX) HBO dominated the Emmy awards ceremony with 43 awards, including the 29 Creative Emmys it won last week. Meanwhile, Amazon (AMZN) earned its first-ever Emmy wins and Netflix (NFLX) CEO Reed Hastings, whose company won four awards, tweeted out: "Congrats @HBO on supporting so much Emmy-winning talent. Your leadership of great television is inspiring." MAJOR MOVERS: Among the notable gainers was Atmel (ATML), which jumped 12% after agreeing to be acquired by German chipmaker Dialog Semiconductor in a deal valued at approximately $4.6B, or the equivalent of $10.42 per Atmel share. Among the noteworthy losers was Mallinckrodt (MNK), which dropped 9% following the announcement that ANI Pharmaceuticals (ANIP) plans to acquire two new drug applications from Merck (MRK) that could compete with Acthar, Mallinckrodt's largest product. Also lower was uniQure (QURE), which fell 15% after announcing topline results of one-year follow-up data from a Phase I/II clinical trial in four Sanfilippo B syndrome patients. Both stocks were among the many big pharma and biotech decliners after 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 that treats a life-threatening parasitic infection, vowed to lay out a plan tomorrow to take on what she calls "price gouging" of specialty drugs. INDEXES: Near midday, the Dow was up 38.57, or 0.24%, to 16,423.15, the Nasdaq was down 21.13, or 0.44%, to 4,806.10, and the S&P 500 was up 1.85, or 0.09%, to 1,959.88.
|11:24 EDT||MRK, JNJ, PFE, AZN, SNY, LLY||Hillary 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 EDT||LLY||Bofa/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.
|08:29 EDT||MRK||ANI Pharmaceuticals to host conference call|
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|08:06 EDT||MRK||Merck to present data on KEYTRUDA at European Cancer Congress|
Merck announced that new data investigating the anti-tumor activity of KEYTRUDA across a broad range of advanced cancers will be presented at this year's European Cancer Congress in Vienna, Austria, Sept. 25-29. In total, 15 KEYTRUDA-related abstracts across nine difficult-to-treat cancers will be presented at this year's ECC - including four late-breaking oral presentations. First-time data looking at PD-L2 expression in multiple tumors to assess the potential value of this biomarker in patient responsiveness to anti PD-1 therapies will also be presented. With these and other presentations, data on the potential role of KEYTRUDA will have been presented in more than 17 different cancers. Studies accepted into this year's ECC program also include the investigation of KEYTRUDA monotherapy in anal cancer, biliary tract cancer, colorectal cancer, Merkel cell carcinoma, nasopharyngeal carcinoma, and non-small cell lung cancer, as well as a study evaluating KEYTRUDA in combination with another immunotherapy treatment in melanoma. KEYTRUDA, Merck's anti-PD-1 therapy, is a humanized monoclonal antibody that blocks the interaction between PD-1 and its ligands, PD-L1 and PD-L2. By binding to the PD-1 receptor and blocking the interaction with the receptor ligands, KEYTRUDA releases the PD-1 pathway-mediated inhibition of the immune response, including the anti-tumor immune response. The KEYTRUDA clinical development program has rapidly expanded to encompass more than 30 tumor types in more than 130 clinical trials, of which more than 70 trials combine KEYTRUDA with other cancer treatments. Registration-enabling trials of KEYTRUDA monotherapy are currently enrolling patients in melanoma, NSCLC, head and neck cancer, bladder cancer, gastric cancer, colorectal cancer, and Hodgkin Lymphoma, with further trials in planning for other cancers.
|08:03 EDT||PFE||Pfizer says two Phase 3 tofacitinib 10mg trials met primary endpoints|
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|06:07 EDT||LLY||Eli Lilly price target raised to $90 from $83 at JPMorgan|
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|September 20, 2015|
|16:56 EDT||MRK||Merck says Phase 3 studies of bezlotoxumab for C. difficile met primary endpoint|
Merck announced that the two pivotal Phase 3 clinical studies for bezlotoxumab, its investigational antitoxin for prevention of clostridium difficile infection recurrence, met their primary efficacy endpoint of reducing C. difficile recurrence through week 12 compared to placebo, when used in conjunction with standard of care antibiotics for the treatment of C. difficile. Based on the results, the company said it plans to submit new drug applications seeking regulatory approval of bezlotoxumab in the U.S., EU, and Canada in 2015. Results from the studies were presented at the Interscience Conference of Antimicrobial Agents and Chemotherapy and International Congress of Chemotherapy and Infection joint meeting. Two global, Phase 3, double-blind studies were conducted to evaluate bezlotoxumab, either alone or in combination with actoxumab. The MODIFY I study enrolled 1452 patients at a median age of 65 years in 19 countries, and the MODIFY II study enrolled 1203 patients at a median age 67 years in 17 countries. In both MODIFY I and MODIFY II, the rate of C. difficile infection recurrence through week 12 was "significantly" lower in the bezlotoxumab arms -- 17.4% and 15.7% -- and the combination bezlotoxumab and actoxumab arms -- 15.9% and 14.9% -- compared to the placebo arms, which showed infection recurrence rates of 27.6% and 25.7%, respectively. In both studies, the rate of infection recurrence was lower in the bezlotoxumab arms compared to the placebo arms in patient subgroups known to be at high risk for recurrence, including patients with any prior episodes of C. difficile infection within the previous six months, patients infected with the BI/NAP1/027 strain, patients with severe infection, patients 65 years of age or older, and patients with compromised immunity. Treatment with the combination of bezlotoxumab and actoxumab did not provide added efficacy over bezlotoxumab alone. Furthermore, actoxumab alone provided no benefit in the prevention of C. difficile recurrence compared with placebo. Based on these results, bezlotoxumab alone was selected for the marketing authorization application.