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Stock Market & Financial Investment News

News For MRK;PFE;GSK;JNJ;BMY;NVS;SHPG;ABT;CELG;SNY From The Last 14 Days
Check below for free stories on MRK;PFE;GSK;JNJ;BMY;NVS;SHPG;ABT;CELG;SNY the last two weeks.
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July 30, 2014
16:31 EDTSNYRegeneron, Sanofi announce plan to use priority review voucher for alirocumab
Regeneron Pharmaceuticals (REGN) and Sanofi (SNY) announced that the companies intend to use a FDA rare pediatric disease priority review voucher in connection with the Biologics License Application, or BLA, submission for alirocumab. The priority review voucher entitles the holder to designate a BLA for priority review, which provides for an expedited 6-month review from the filing date instead of the standard 10-month review. Regeneron Ireland, an indirect, wholly-owned subsidiary of Regeneron Pharmaceuticals, purchased the voucher from BioMarin GALNS, a direct, wholly-owned subsidiary of BioMarin Pharmaceutical (BMRN), which had received it through the FDA's rare pediatric disease priority review voucher program. Sanofi and Regeneron will equally share the purchase price of $67.5M. Sanofi and Regeneron expect to submit U.S. and EU regulatory submissions for alirocumab before year end.
12:33 EDTSNYRegeneron, Sanofi likely to file alirocumab BLA this year, says Piper Jaffray
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10:37 EDTPFE, NVSInnoPharma announces launch of generic Zyprexa in Canada
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08:08 EDTSNYSanofi and Regeneron report positive Phase 2 results of alirocumab
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08:08 EDTPFEBaxter announces divestiture of commercial vaccines business to Pfizer for $635M
Baxter International (BAX) announced that it has entered into a definitive agreement to sell its two commercially marketed vaccines and related production facilities to Pfizer (PFE) for a total cash consideration of $635M, subject to certain adjustments. The sale includes the company’s commercial vaccines business, which is comprised of NeisVac-C, a vaccine which helps protect against meningitis caused by group C meningococcal meningitis, and FSME-IMMUN, which helps protect against tick-borne encephalitis, an infection of the brain transmitted by the bite of ticks infected with the TBE-virus. Both vaccines are currently available outside the United States, primarily in a number of European markets. Baxter continues to explore strategic options, including the potential for partnering or divesting its R&D development programs focused on influenza and Lyme disease. Subject to regulatory approvals and other customary closing conditions, the companies expect to close the transaction by the end of 2014. Baxter expects 2014 vaccines revenues to total approximately $300M and adjusted earnings of approximately 25c per diluted share, including approximately $50M of one-time milestone payments related to the ongoing government collaborations for development of influenza vaccines. Baxter expects the transaction to be modestly dilutive to fourth quarter 2014 adjusted earnings and dilutive to 2015 adjusted earnings by approximately 15c per diluted share.
08:01 EDTPFEPfizer enters into agreement to acquire Baxter's portfolio of marketed vaccines
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07:50 EDTJNJSenate Judiciary Committee to hold a hearing
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July 29, 2014
15:38 EDTGSKGlaxoSmithKline Tanzeum available in U.S. pharmacies
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12:13 EDTPFE, MRKOn The Fly: Midday Wrap
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10:31 EDTPFEPfizer says looking at 'wide spectrum' of M&A transactions
Sees repurchasing 100M more shares this year.
10:20 EDTPFEPfizer says will look at all deals 'regardless of size'
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09:44 EDTMRKMerck CEO says has not been urged for big consolidation deal, CNBC says
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08:50 EDTJNJ, PFEHarris & Harris invests in Accelerator Corporation
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08:32 EDTMRKMerck says not interested in deal solely, primarily for inversion
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08:15 EDTABTEnzo Biochem announces August 18 as date of Markman hearing in lawsuit
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07:40 EDTGSKCourt date set for Glaxo investigators arrested in China, WSJ says
Two investigators who were hired by GlaxoSmithKline last year to look into a sex video taken of the drug company's top China executive, and who were subsequently placed in custody by Chinese authorities on charges of illegally purchasing personal information about Chinese nationals, will stand trial August 8, reported The Wall Street Journal. Reference Link
07:19 EDTMRKCBI to hold a conference
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07:12 EDTPFEPfizer reports Q2 GEP revenue $6.51B, GIP revenue $3.55B
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07:09 EDTPFE, BMYBristol-Myers, Pfizer granted EU approval for Eliquis for treatment of DVT, PE
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07:06 EDTPFEPfizer sees completing palbociclib filing in advanced breast cancer in August
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07:04 EDTPFEPfizer still sees buying back about $5B in stock this year
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07:03 EDTPFEPfizer backs FY14 adjusted EPS view $2.20-$2.30, consensus $2.24
Lowers FY14 adjusted revenue view to $48.7B-$50.7B from $49.2B-$51.2B previously. The expected negative impact from anticipated multi-source generic competition for Celebrex in the U.S. beginning in December. In addition to the approximate one month of multi-source generic competition, Celebrex revenues also are expected to be negatively impacted in fourth-quarter 2014 by associated wholesaler and retailer destocking.
07:01 EDTPFEPfizer reports Q2 adjusted EPS 58c, consensus 57c
Reports Q2 revenue $12.8B, consensus $12.46B.
06:59 EDTMRKMerck sees FY14 revenue $42.4B-$43.2B, consensus $42.56B
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06:58 EDTMRKMerck reports Q2 Januvia sales $1.58B, Q2 Zetia sales $1.13B
Reports Q2 Remicade sales $607M; Q2 Isentress sales $453M; Q2 Gardasili sales $409M; Q2 Proquad sales $326M; Q2 Singulair sales $284M; Q2 Nanosex sales $258M.
06:57 EDTMRKMerck sees FY14 non-GAAP EPS $3.43-$3.53, consensus $3.48
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06:57 EDTMRKMerck reports Q2 non-GAAP EPS 85c, consensus 81c
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05:19 EDTNVSNovartis sees high uptake in meningitis B vaccination program
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July 28, 2014
15:47 EDTPFE, MRKNotable companies reporting before tomorrow's open
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14:03 EDTMRKEarnings Preview: Merck's pharmaceutical sales dependent on newer drugs
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13:20 EDTJNJPharmacyclics granted regular approval for Imbruvica
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13:12 EDTPFEEarnings Preview: Pfizer looks for earnings boost from Lyrica, Xalkori
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12:26 EDTJNJPharmacyclics off lows, turns positive after FDA expands Imbruvica indication
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12:24 EDTJNJFDA expands approved use of Imbruvica for chronic lymphocytic leukemia
The U.S. Food and Drug Administration today expanded the approved use of Imbruvica to treat patients with chronic lymphocytic leukemia who carry a deletion in chromosome 17, which is associated with poor responses to standard treatment for CLL. Imbruvica received a breakthrough therapy designation for this use. The FDA is also approving new labeling to reflect that Imbruvica’s clinical benefit in treating CLL has been verified. Imbruvica’s new use is being approved more than two months ahead of the product’s prescription drug user fee goal date of Oct. 7, the date the FDA was scheduled to complete review of the drug application. Imbruvica also received accelerated approval in November 2013 for the treatment of patients with mantle cell lymphoma who have received at least one prior therapy. Clinical studies to verify and describe Imbruvica’s clinical benefit in mantle cell lymphoma are ongoing. Imbruvica is being jointly developed and commercialized in the United States by Pharmacyclics (PCYC) and Janssen Biotech (JNJ).
11:07 EDTABTLeerink medical devices analyst holds an analyst/industry conference call
Medical Devices Analyst Antalffy, along with MEDACorp Specialist Arie Pieter Kappetein, MD, PhD and Bernhard Meier, MD, assess EU cardiology trends on an Analyst/Industry conference call to be held on July 31 at 3 pm.
10:36 EDTMRKMerck August weekly volatility elevated into Q2 and outlook
Merck August weekly call option implied volatility is at 26, August is at 16, September is at 15, January is at 16; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q2 result on July 29.
10:02 EDTPFE, GSKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AcelRx (ACRX) downgraded to Hold from Buy at Canaccord... Anglo American (AAUKY) downgraded to Neutral from Buy at UBS... Aon plc (AON) downgraded to Hold from Buy at Sandler ONeill... Cabot Oil & Gas (COG) downgraded at Oppenheimer... Cisco (CSCO) downgraded to Sector Perform from Outperform at Pacific Crest... Coeur Mining (CDE) downgraded to Market Perform from Outperform at Raymond James... DSW (DSW) downgraded at Sterne Agee... DuPont Fabros (DFT) downgraded to Neutral from Buy at Citigroup... El Paso Electric (EE) downgraded to Hold from Buy at Jefferies... Enphase Energy (ENPH) downgraded to Hold from Buy at Deutsche Bank... GlaxoSmithKline (GSK) downgraded to Neutral from Buy at BofA/Merrill... Horizon Technology (HRZN) downgraded to Hold from Buy at Wunderlich... Lear (LEA) downgraded to Hold from Buy at Deutsche Bank... Life Time Fitness (LTM) downgraded at Wedbush... Monster Beverage (MNST) downgraded to Neutral from Buy at UBS... NRG Energy (NRG) downgraded to Buy from Conviction Buy at Goldman... PG&E (PCG) downgraded to Sell from Neutral at Goldman... Pfizer (PFE) downgraded at BMO Capital... Post Properties (PPS) downgraded to Neutral from Buy at Citigroup... Publicis (PUBGY) downgraded to Sell from Neutral at Citigroup... Selmer Scientific (SMLR) downgraded to Hold from Buy at Aegis... TransCanada (TRP) downgraded to Neutral from Outperform at Credit Suisse... Travelers (TRV) downgraded to Hold from Buy at Sandler O'Neill... Zurich Insurance (ZURVY) downgraded to Underperform from Market Perform at Bernstein.
09:02 EDTSNYSanofi, InnerWorkings sign global marketing partnership
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08:43 EDTPFEPfizer downgraded at BMO Capital
As noted earlier, BMO Capital downgraded Pfizer to Market Perform from Outperform. As reasons for the downgrade, the firm cited what it sees as the weakening of the company's mature franchises and significant loss of exclusivity headwinds in 2015. Target to $31 from $34.
08:09 EDTGSKGlaxoSmithKline downgraded to Neutral from Buy at BofA/Merrill
07:30 EDTABTQ1 Productions to hold a conference
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07:26 EDTABTAmerican Association for Clinical Chemistry to hold annual meeting
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06:52 EDTABTFormer official says Obama could limit inversion deals, NY Times reports
President Obama could limit tax inversion deals on his own authority, said Stephen Shay, former deputy assistant Treasury secretary for international tax affairs in the Obama administration, according to The New York Times. A 1969 law gives the president the ability to restrict inversion deals, said Shay, who also worked in the Reagan administration, the newspaper stated. Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Alletgan (AGN). Reference Link
06:36 EDTPFEPfizer downgraded to Market Perform from Outperform at BMO Capital
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06:32 EDTJNJJ&J dispute with Boston Scientific looks set to go to trial, NY Times says
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06:22 EDTGSKGlaxoSmithKline could eventually spin off consumer healthcare business, FT says
GlaxoSmithKline CEO Andrew Witty is considering the possibility of the company being broken up in the future, suggesting that the consumer healthcare business could be spun off if a time comes when it is more valuable as an independent company, the Financial Times reports. Witty says there are no such plans in the near term. Reference Link
05:55 EDTPFEStocks with implied volatility movement; IGT PFE
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05:36 EDTSHPGAbbVie upgraded to Buy from Neutral at UBS
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05:30 EDTNVSAlcon announces Simbrinza approved in EU
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July 25, 2014
08:54 EDTJNJEMA issues positive opinion, recommends approval of Imbruvica
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07:32 EDTABTAmerican Veterinary Medical Association to hold a conference
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07:29 EDTPFEEMA recommends indication for Ecalta to treat invasive candidiasis
The Committee for Medicinal Products for Human Use adopted a positive opinion recommending a variation to the terms of the marketing authorization for the medicinal product Ecalta, offered by Pfizer. The CHMP adopted a change to an indication as follows: "Treatment of invasive candidiasis in adult patients."
07:27 EDTBMYEMA recommends expanded indication for Baraclude
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07:17 EDTJNJEMA recommends approval for Gilead, Janssen blood cancer drugs
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07:06 EDTCELGCelgene shares should recover, says Cantor
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06:30 EDTABTObama calls on Congress to end inversion deals, NY Times reports
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06:00 EDTBMYBristol-Myers implied volatility of 17 at lower end of index mean range
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July 24, 2014
14:35 EDTABTObama to call for elimination of tax inversion deals, NY Times says
President Obama will call on Congress today to eliminate the tax inversion loophole, according to The New York Times. Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott’s (ABT), Medtronic's acquisition of Covidien (COV)and Valeant's (VRX) proposed takeover of Alletgan (AGN)Reference Link
13:29 EDTGSKGlaxoSmithKline facing bribery allegations in Syria, Reuters says
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12:41 EDTGSKGlaxoSmithKline reports FDA approves Flonase for OTC sales in U.S.
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12:20 EDTCELGCelgene price target raised to $115 from $85 at Piper Jaffray
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11:45 EDTGSKGlaxoSmithKline downgraded to Sell from Neutral at UBS
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11:22 EDTBMYBristol-Myers says considering different sizes of deal opportunities
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10:57 EDTBMYBristol-Myers says M&A would have to be good strategic fit
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10:48 EDTBMYBristol-Myers says guidance assumes R&D credit will be extended
Says Reyataz seeing increased competitive pressure. Says business development a top priority for capital allocation. Comments made on the Q2 earnings conference call.
09:16 EDTJNJOn The Fly: Pre-market Movers
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08:39 EDTJNJOrganovo enters 3D bio-printed tissue agreement with J&J unit
Organovo (ONVO) announced that it has entered into an agreement with Janssen Research and Development, a pharmaceutical company of Johnson & Johnson (JNJ), to evaluate the use of 3D bio-printed tissue in a drug discovery setting, outside of the company’s work in 3D liver tissue for toxicity testing. Terms were not disclosed.
08:32 EDTMRKMerck initiates Phase 3 study of Letermovir
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08:28 EDTBMYBristol-Myers management to meet with JPMorgan
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08:19 EDTJNJLeerink medical devices analyst holds an analyst/industry conference call
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07:45 EDTCELGCelgene reports Q2 VIDAZA sales decreased 28%
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07:43 EDTCELGCelgene reports Q2 ABRAXANE sales increased 39%
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07:42 EDTCELGCelgene reports Q2 REVLIMID sales increased 15%
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07:34 EDTCELGCelgene raises FY14 adjusted EPS view to $3.60-$3.65 from $3.50-$3.60
Consensus is $3.67. Raises FY14 revenue view to $7.6B from $7.5B, consensus $7.54B. Sees Revlimid net product sales $4.95B from preview $4.9B-$5B range. Sees Abraxane net product sales $850M-$900M.
07:32 EDTCELGCelgene reports Q2 adjusted EPS 90c, consensus 89c
Reports Q2 revenue $1.87B, consensus $1.85B.
07:32 EDTBMYBristol-Myers reaffirms 2014 EPS outlook $1.70-$1.80, consensus $1.77
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07:31 EDTBMYBristol-Myers reports Q2 EPS 48c, consensus 44c
Reports Q2 revenue $ $3.89B, consensus $3.85B.
06:13 EDTGSKGlaxoSmithKline's malaria vaccine candidate accepted for EU regulatory review
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05:41 EDTNVSNovartis announces FDA acceptance of Sandoz application for filgrastim
Sandoz, a Novartis Group company, announced that the FDA has accepted its Biologics License Application for filgrastim, which was filed under the new biosimilar pathway created in the Biologics Price Competition and Innovation Act of 2009.
05:26 EDTBMYBristol-Myers, Ono Pharmaceutical announces strategic collaboration in Japan
Bristol-Myers Squibb and Ono Pharmaceutical have signed a strategic collaboration agreement to jointly develop and commercialize multiple immunotherapies as single agents and combination regimens to help address the unmet medical needs of patients with cancer in Japan, South Korea and Taiwan. As part of the agreement, Bristol-Myers Squibb and Ono will jointly develop and commercialize Opdivo and Yervoy across a broad range of tumor types. Bristol-Myers Squibb and Ono will jointly pursue development of monotherapy and combination regimens, with Opdivo as the foundational therapy in Japan, South Korea and Taiwan, and leverage global clinical trials by including patients from the three countries.
July 23, 2014
15:30 EDTBMY, CELGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
15:10 EDTBMYBristol-Myers technical comments before earnings
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11:21 EDTSHPGOptions with decreasing implied volatility
Options with decreasing implied volatility: INO SHPG IRBT CMG LXK PSEC CROX ATHN VMW
10:27 EDTABTHouse Energy & Commerce Committee to hold a hearing
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09:41 EDTCELGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX FB MSFT CELG TWTR TSLA VALE CNW
09:33 EDTGSKGlaxoSmithKline reports record Promacta/Revolade Q2 revenue of $92M
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09:17 EDTGSKOn The Fly: Pre-market Movers
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07:28 EDTSHPGShire enters licensing and collaboration agreement with ArmaGen
Shire and ArmaGen, a US privately held biotechnology company, announced a worldwide licensing and collaboration agreement for AGT-182, an investigational enzyme replacement therapy for the potential treatment of both the central nervous system and somatic manifestations in patients with Hunter syndrome. Shire will obtain worldwide commercialization rights for AGT-182 in exchange for payments of approximately $225M to ArmaGen, including an initial upfront payment of $15M in cash and equity, an additional equity investment, R&D funding, development milestones and sales milestones, in addition to royalty payments. ArmaGen will be responsible for conducting and completing the Phase I/II study which it expects to initiate before the end of 2014, after which point Shire will be responsible for further clinical development, including Phase III trials, and commercialization.
07:19 EDTGSKGenmab reports Q2 Arzerra net sales GBP 12.8M
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07:12 EDTGSKGlaxoSmithKline lowers 2014 core EPS outlook to 'similar' to 2013
GSK now expects 2014 core EPS to be "broadly similar" to 2013 versus previous expectations of 4%-8% growth. It added, "Given impact of recent sustained strength of Sterling on free cash flow, share repurchases over balance of 2014 likely to be immaterial."
07:09 EDTGSKGlaxoSmithKline reports Q2 core EPS down 12% to 19.1p
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07:09 EDTGSKMylan wins restraining order against Apotex for generic version of GSK's Paxil
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06:45 EDTABTLawmakers divided on inversion deals, NY Times says
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06:41 EDTNVSArray BioPharma shares attractive at current levels, says Piper Jaffray
Piper Jaffray says shares of Array BioPharma are attractive at current levels ahead of Phase III data readouts for binimetinib in melanoma, selumetinib in Kras-mutant lung, thyroid and uveal melanoma, and filanesib in multiple myeloma. Piper sees the biggest overhang on Array shares as being the financing requirement and it notes that binimetinib could be returned to the company from current partner Novartis (NVS). Nonetheless, it feels investors should take a "serious look" at Array and keeps an Overweight rating on the stock with a $9 price target.
06:01 EDTSHPGStocks with implied volatility below IV index mean; INTC SHPG
Stocks with implied volatility below IV index mean; Intel (INTC) 18, Shire (SHPG) 19 according to iVolatility.
July 22, 2014
16:18 EDTPFEPuma Biotech now responsible for R&D expenses associated with legacy trials
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10:48 EDTSHPGOptions with decreasing implied volatility
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09:55 EDTGSKLupin, private equity funds weigh bids for GSK's older drugs, Reuters reports
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07:12 EDTCELGCelgene has upper hand in Revlimid case, says Bernstein
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05:59 EDTSHPGStocks with implied volatility below IV index mean; INTC SHPG
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July 21, 2014
18:40 EDTJNJOn The Fly: After Hours Movers
UP AFTER EARNINGS: Netflix (NFLX), up marginally after reporting Q2 results... Sanmina (SANM), up 13.2% after reporting third quarter results and fourth quarter guidance above analyst estimates... Chipotle (CMG), up 10.1%... Helix (HLX), up 5.2%... Canadian National (CNI), up 1.13%... CYS Investments (CYS), up 1.7%. ALSO HIGHER: Apache (APA), up 5% after Bloomberg says JANA discloses $1B position... Johnson & Johnson (JNJ), up 1% after announcing a $5B share repurchase program... TG Therapeutics (TGTX), up 4.3% after reporting second quarter results and preliminary clinical results from TG-1101 Phase I study... DOWN AFTER EARNINGS: Rambus (RMBS), down 3.6% after reporting second quarter results... Ultra Clean (UCTT), down 4% after reporting quarterly results. ALSO LOWER: Tallgrass Energy (TEP), down 5% after filing to sell 7M common units representing limited partners.
17:03 EDTJNJJohnson & Johnson announces $5B share repurchase program
Johnson & Johnson announced that its board has approved the repurchase of up to $5B of the company's common stock. The company had approximately 2.82B shares of common stock outstanding as of June 29.
17:01 EDTJNJJohnson & Johnson announces $5B share repurchase program
10:27 EDTSHPGUBS pharma and federal affairs analysts hold an analyst/industry conference call
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10:02 EDTSHPGOn The Fly: Analyst Downgrade Summary
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08:50 EDTSHPGShire downgraded to Neutral from Buy at Buckingham
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08:01 EDTSHPGAbbVie acquisition positive, says Argus
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07:59 EDTSHPGShire downgraded to Market Perform from Outperform at Leerink
Leerink downgraded Shire (SHPG) on Friday to Market Perform citing the takeover by AbbVie (ABBV) as it does not expect competitive bids to emerge.
07:38 EDTNVSNovartis management to meet with JPMorgan
Meetings to be held in Los Angeles/Pasadena on July 24 and in San Francisco on July 25 hosted by JPMorgan.
07:21 EDTMRKGilead could be hurt by new HCV drugs, says Wells Fargo
Noting that data on a new Merck (MRK) HCV treatment is expected in November, Wells Fargo thinks Merck's HCV drug could be combined with Gilead's (GILD) Sovaldi to shorten the duration of treatment to four weeks. Other companies could take similar actions, and Gilead's per patient revenues would be significantly reduced if this occurs, the firm warned. However, it continues to have an upbeat outlook on Gilead heading into what it sees as a strong quarter and is still upbeat on the company's long-term HCV opportunity. It keeps an Outperform rating on Gilead.
07:11 EDTSNY, GSK, NVSInternational Society of DNA Vaccines to hold a conference
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07:03 EDTNVSAnacor, Sandoz enter into agreement for commercialization of Kerydin in the U.S.
Anacor Pharmaceuticals (ANAC) announced that it has entered into an exclusive agreement with Sandoz, a Novartis (NVS) company, pursuant to which Sandoz will distribute and commercialize Anacor’s drug KERYDIN topical solution, 5% in the United States. PharmaDerm, the branded dermatology business of Sandoz, will be responsible for the sales and marketing of KERYDIN. On July 8, Anacor announced that the U.S. FDA approved the New Drug Application for KERYDIN, the first oxaborole antifungal approved for the topical treatment of onychomycosis of the toenails, a fungal infection of the nail and nail bed that affects approximately 35 million people in the United States, according to Podiatry Today. The agreement with Sandoz entitles Anacor to upfront payments totaling $40M and an additional milestone payment of $25M expected to be paid in January 2015. Under the agreement, Sandoz and Anacor will share equally, under a long-term profit-sharing arrangement, the gross profits accrued by Sandoz on sales of KERYDIN, except that in 2015 Anacor will start receiving profit-sharing payments after the first $50M of gross profits have been accrued by Sandoz. The long-term profit-sharing arrangement includes cumulative minimum profit-sharing payments to Anacor in 2016 totaling $45M. Anacor will also have the option to repurchase all rights in KERYDIN from Sandoz on the later of three years from launch or December 31, 2017, at a price to be determined pursuant to the agreement. Under the terms of the agreement, Anacor will supply product to Sandoz at cost through Anacor’s contract manufacturers, and Sandoz will be responsible for all of its selling, marketing, distribution, general and administrative costs related to the commercialization of KERYDIN. Anacor will hold the NDA and will be responsible for any further development of KERYDIN.
06:43 EDTMRK, BMYGrowing market for hepatitis-C treatment prompts legal scramble, WSJ says
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06:14 EDTSHPGStocks with implied volatility below IV index mean; INTC SHPG
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July 18, 2014
18:04 EDTSHPGAbbVie purchase of Shire worth the premium, Barron's reports
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16:47 EDTSHPG, ABTMarket ends week higher as earnings, M&A offset geopolitical tensions
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12:51 EDTABTKey GOP senator signals readiness for inversion deal, The Hill says
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11:25 EDTSHPGOptions with decreasing implied volatility
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10:38 EDTSHPGShire downgraded to Fair Value from Buy at CRT Capital
Shire (SHPG) is being acquired by AbbVie (ABBV).
10:34 EDTSHPGShire downgraded to Neutral from Overweight at Piper Jaffray
Shire (SHPG) is being acquired by AbbVie (ABBV).
10:30 EDTSHPGAbbVie says can't back out of Shire deal based on tax law change, Bloomberg says
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09:29 EDTSHPGAbbVie, Shire says merger should help in enhanced buyback and dividend programs
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06:23 EDTSHPGShire raises FY14 EPS to low-to-mid 30% growth from mid-to-high teens
Raises FY14 product sales guidance to growth in high teens from mid-to-high teens. Shire continues to expect royalties and other revenues to be 10%-15% lower than 2013.
06:19 EDTSHPGShire reports Q2 EPS $2.67, consensus $2.45
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05:17 EDTSHPGAbbVie, Shire agree on merger worth GBP32B pounds
The boards of AbbVie (ABBV) and Shire (SHPG) announced that they have reached agreement on the terms of a recommended combination of Shire with AbbVie. Under the terms of the Merger, Shire shareholders will be entitled to receive per share GBP 24.44 in cash and 0.8960 new AbbVie shares. Immediately following the transaction, Shire shareholders are expected to hold new AbbVie Shares representing approximately 25% of the issued share capital of new AbbVie. AbbVie expects the transaction to be accretive to adjusted earnings per share in the first year following completion, growing to above $1.00 per share by 2020, with "material ongoing financial and operating benefits." The AbbVie board also expects the transaction to reduce New AbbVie's effective tax rate to approximately 13% by 2016. The Shire board said it "considers the terms of the Transaction to be fair and reasonable." In order to undertake the transaction, AbbVie has formed a new company, New AbbVie, which is incorporated in Jersey, Shire's current place of incorporation. Following completion of the Transaction, New AbbVie will become the holding company of the Shire Group and the AbbVie Group. It is intended that the New AbbVie Shares will be listed on the New York Stock Exchange.
05:12 EDTSHPGAbbVie to acquire Shire for 52.48 pounds per share in cash, stock
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July 17, 2014
14:54 EDTJNJJohnson & Johnson weakness creates buying opportunity, says Argus
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13:34 EDTSHPGShire reports results from Vyvanse vs. Concerta studies in adolescents with ADHD
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12:56 EDTSHPGAbbVie set to announce GBP 31B deal to buy Shire, FT says
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12:54 EDTSHPGAbbVie set to announce GBP 31B deal to buy Shire, FT says
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11:12 EDTSHPGOptions with decreasing implied volatility
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10:56 EDTJNJJohnson & Johnson reports 18% passive stake in Minerva
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08:34 EDTNVSVanda requests award of $539M in proceedings with Novartis
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08:08 EDTPFE, BMYBristol-Myers, Pfizer announce enrollment in Phase IV EMANATE trial for Eliquis
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07:18 EDTGSKMylan wins motion to enjoin GlaxoSmithKline from production of generic product
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07:06 EDTABTAbbott price target raised to $47 from $42 at Stifel
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06:23 EDTGSKGlaxoSmithKline admits to bribing Chinese officials in 2001, FT reports
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05:32 EDTNVSNovartis reconfirms FY14 revenue guidance up at low to mid single digit rate
The company stated, "We are reconfirming our outlook for FY14. Group net sales in 2014 are expected to grow at a low to mid-single digit rate. Group core operating income is expected to grow ahead of sales in 2014, and now refined to mid to high-single digit. This outlook recognizes the entry of generic competition for Diovan monotherapy in the U.S. on July 7, including an authorized generic from Sandoz on the same date. If June average exchange rates prevail for the remainder of the year, the currency impact for the year would be -1% on sales and -3% to -4% on core operating income."
05:29 EDTNVSNovartis reports Q2 Core EPS $1.34, consensus $1.42
Reports Q2 revenue $14.6B, consensus $14.81B. Reports continued pipeline progress with positive regulatory decisions and significant clinical trial data released in Q2.
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