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News Breaks
June 5, 2014
05:42 EDTJNJ, SYK, SNN, ZMH, MDTMedtronic offer for Smith & Nephew may bring bidding war, says Wells Fargo
Wells Fargo believes a Medtronic (MDT) takeover offer for Smith & Nephew (SNN) would make strategic and financial sense. However, Wells cautions that Smith & Nephew's "relatively small" share in hip and knee implants could put Medtronic at a competitive disadvantage to larger ortho players Johnson & Johnson (JNJ) and Zimmer (ZMH). The firm thinks a potential offer from Medtronic may prompt Stryker (SYK) to reconsider Smith & Nephew, potentially resulting in a bidding war.
News For MDT;SNN;JNJ;ZMH;SYK From The Last 14 Days
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May 20, 2015
06:17 EDTJNJAchillion downgraded to Neutral from Buy at UBS
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May 19, 2015
16:10 EDTJNJAchillion enters into collaboration for HCV with Janssen
Achillion (ACHN) announced that it has entered into a worldwide license and collaboration arrangement with Janssen Pharmaceuticals, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ), to develop and commercialize one or more of Achillion's lead hepatitis C virus, or HCV, assets which include ACH-3102, ACH-3422, and sovaprevir. Under the terms of the agreement, Achillion will grant Janssen an exclusive, worldwide license to develop and, upon regulatory approval, commercialize HCV products and regimens containing one or more of Achillion's HCV assets. Achillion is eligible to receive a number of payments based upon achievement of specified development, regulatory and sales milestones. Achillion is also eligible to receive tiered royalty percentages between mid-teens and low-twenties based upon future worldwide sales. Janssen will be responsible for all of the development costs within the collaboration and all subsequent costs related to commercialization of the HCV assets. A key objective of the collaboration will be to develop a short-duration, highly effective, pan-genotypic, oral regimen for the treatment of HCV. An initial regimen that will be explored will feature Achillion's ACH-3102, a second-generation NS5A inhibitor currently in Phase 2 clinical studies that has been granted Fast Track designation by the U.S. Food and Drug Administration, in combination with an NS3/4A HCV protease inhibitor plus an NS5B HCV polymerase inhibitor from the collaboration. Additionally, in an equity transaction separate to the exclusive license and collaboration arrangement, Johnson & Johnson Innovation JJDC, Inc. will invest $225M in Achillion and, in return, receive approximately 18.4M newly issued, unregistered shares of Achillion at a price of $12.25 per share. The transactions, including the equity sale, are subject to customary closing conditions, including termination or expiration of any applicable waiting periods under the Hart-Scott-Rodino Act. Transitional clinical development and technology transfer activities under the collaboration are expected to take place over the next several months.
08:40 EDTMDTMedtronic sees FY15 revenue $20.3B, may not compare to consensus $28.15B
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08:40 EDTMDTMedtronic sees Q4 adjusted EPS at upper half of $1.08-1.13, consensus $1.10
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May 18, 2015
16:51 EDTZMHBIOLASE CEO Jeffrey Nugent to step down, Harold Flynn appointed CEO
BIOLASE (BIOL) announced that Harold Flynn Jr. will become president and CEO, effective July 13. The current president and CEO Jeffrey Nugent will step down at that time. Since 2007, Flynn has been president of Zimmer Dental, a manufacturer and provider of medical devices for the dental market. Zimmer Dental is a division of Zimmer Holdings (ZMH).
09:27 EDTMDTMedtronic announces study results showing CRT system optimizes treatment
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May 15, 2015
13:33 EDTMDTMedtronic: TYRX antibacterial envelope reduces cardiac device infection rates
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10:29 EDTSYKAmerican Urological Association to hold an annual meeting
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08:12 EDTMDTMedtronic Micra TPS meets initial safety, performance measures
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07:35 EDTJNJMedivation price target raised to $148 from $128 at Leerink
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May 14, 2015
14:54 EDTJNJJohnson & Johnson unit reports results of VENTURE-AF trial
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13:55 EDTZMHZimmer initiated with an Outperform at Northland
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13:54 EDTSNNSmith & Nephew initiated with an Outperform at Northland
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13:54 EDTSYKStryker initiated with an Outperform at Northland
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13:34 EDTMDTMedtronic: Micra transcatheter pacemaker meets initial safety measures in study
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13:31 EDTMDTMedtronic says Evera MRI ICD study meets safety, efficacy endpoints
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09:41 EDTMDT, JNJLeerink medical devices analyst holds a cardiology luncheon meeting
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08:45 EDTZMHZimmer has a conference call hosted by JPMorgan
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May 13, 2015
17:50 EDTJNJPharmacyclics to showcase new 'promising' Imbruvica data at ASCO
Pharmacyclics announced that ibrutinib, also known as Imbruvica, single-agent and combination data will be featured in seven oral and poster sessions at the 51st American Society of Clinical Oncology, ASCO, Annual Meeting being held May 29-June 2 in Chicago, IL. According to a statement from ASCO, Imbruvica data will also be included in the official press program during the meeting for the second time in two years. Imbruvica is jointly developed and commercialized by Pharmacyclics and Janssen Biotech, a Johnson & Johnson (JNJ) subsidiary. Data being presented include, among others, an oral presentation from the Phase III HELIOS study of ibrutinib in combination with bendamustine and rituximab in relapsed or refractory chronic lymphocytic leukemia, a poster presentation of ibrutinib in steroid-dependent or refractory chronic graft-versus-host-disease as well as a dose adherence analysis of ibrutinib 420 mg administered to previously treated CLL patients. "We look forward to sharing promising data at this year's ASCO that examines the use of Imbruvica across a broad range of hematologic disease settings from our clinical studies," said Danelle James, M.D., M.S., Head of Oncology at Pharmacyclics.
07:31 EDTSYKHeart Rhythm Society to hold a conference
Heart Rhythm 2015 is being held in Boston on May 13-16.
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