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June 17, 2015
05:31 EDTBMYBristol-Myers initiated with an Underweight at Piper Jaffray
Target $60.
05:31 EDTMRKMerck initiated with a Neutral at Piper Jaffray
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June 16, 2015
14:12 EDTABTAbbott backing marginally ups chances of Mylan-Perrigo deal, says BMO Capital
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13:16 EDTGSKFDA appoves labeling changes for GSK anti-seizure drug
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11:06 EDTABTTeva says 'fully committed' to bid for Mylan, Bloomberg reports
After Abbott (ABT) announced earlier that it intends to vote its 14.5% stake in Mylan (MYL) in favor of Mylan's proposed acquisition of Perrigo (PRGO), a Teva (TEVA) spokesperson told Bloomberg in an email that the company remains "fully committed" to is offer to acquire Mylan, which Teva said is better than Mylan's suggested deal for Perrigo.
10:29 EDTNVSGeneric drugs may be targets of congressional price probe, Bloomberg says
In addition to branded drugs that were cited for "staggering" price increases in a congressional probe on drug prices being led by U.S. Senator Bernie Saunders, generic drug makers may also be targeted, stated Bloomberg Intelligence. Data show some generics, including clomipramine hydrochloride and tetracycline, have seen "aggressive" quarterly price increases, the report noted. Generic drug makers that could be caught up in the probe include Mallinckrodt (MNK), Teva (TEVA), Novartis' (NVS) Sandoz unit, Mylan (MYL), Taro Pharmaceutical (TARO) and Teva (TEVA). Mallinckrodt shares are down about 4% in early trading.
10:07 EDTMRKAlkermes spike attributed to takeover speculation
The spike higher in shares of Alkermes (ALKS) is being attributed by traders to speculation of a takeover. Shares jumped 6% to $61.89 in morning trading. The Ireland based drugmaker focuses on treatments of central nervous system disorders, such as addiction, schizophrenia and depression. The speculative chatter has Merck (MRK) as a potential acquirer of Alkermes. The company’s June 60 and 65 calls are actively trading, according to The Fly's options specialist.
09:21 EDTABTMylan issues statement regarding Abbott's support for Perrigo transaction
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09:10 EDTABTAbbott confirms support for Mylan's proposed acquisition of Perrigo
Abbott (BT) confirmed its continued support for Mylan (MYL) N.V's growth strategy by stating its intent to vote its 14.5% stake in Mylan in favor of Mylan's proposed acquisition of Perrigo (PRGO). "We chose Mylan to acquire our developed markets branded generics pharmaceuticals because its scale and breadth across critical distribution channels, broad and diverse portfolio, and commitment to patients and product quality strongly positions it for success in the years to come," said Abbott. "As both Mylan's largest shareholder and its partner through our continued manufacturing relationships, Abbott has considered the entire situation and we believe Mylan's standalone strategy and acquisition of Perrigo will further enhance its platform, is strategically compelling, value enhancing for shareholders, and offers a clear path to completion. In light of these factors, we will be voting in favor of the Perrigo transaction."
05:45 EDTNVSNovartis to host two day investor event
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05:40 EDTNVSNovartis division Alcon receives CE Mark for AcrySof IQ PanOptix trifocal IOL
Alcon, a division of Novartis, has received European CE Mark for its AcrySof IQ PanOptix trifocal intraocular lens, or IOL, for patients undergoing cataract surgery who elect to address their near, intermediate, and distance vision needs with a single lens. The AcrySof IQ PanOptix trifocal IOL is an important addition to Alcon's broad portfolio of intraocular lenses for cataract patients.
June 15, 2015
11:40 EDTBMYNCCN update on NSCLC important for Bristol-Myers, says Morgan Stanley
Morgan Stanley noted that the National Comprehensive Cancer Network, or NCCN, just updated its guidelines for the treatment of NSCLC to include Bristol-Myers' Opdivo in second-line non-squamous and squamous non-small cell lung cancer without PD-L1 testing, which the firm said is important news since the company hasn't filed for non-squamous approval with the FDA yet. Morgan Stanley maintained its Opdivo projections and keeps its Overweight rating on the stock.
11:26 EDTBMYBristol-Myers mentioned positively at Morgan Stanley
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11:15 EDTJNJIdera advances after JPMorgan starts coverage with $6 target
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09:19 EDTJNJBiotech Industry Organization to hold a conference
BIO 2015 is being held in Philadelphia on June 15-18.
08:06 EDTSNYGenzyme initiates Phase 1/2 olipudase alfa clinical trial
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08:01 EDTPFEPfizer Consumer Healthcare to expand Caltrate, Centrum production in China
Pfizer Inc announced that it broke ground for a $95M consumer products production facility in Suzhou, China. The new site is near the company’s existing Suzhou site and will help increase production capacity to meet growing demand for Pfizer Consumer Healthcare’s brands in China and the Asia-Pacific region. The new facility will primarily produce Caltrate dietary supplements and Centrum multivitamins, and in the future will support production of additional products. There are also plans to eventually house a research and development facility on the site to help support innovation in the region.
07:19 EDTJNJGeron discloses orphan designation for its imetelstat for myelofibrosis
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07:02 EDTSHPGArmaGen achieves clinical milestone in collaboration with Shire
ArmaGen announced that it achieved a clinical milestone in its worldwide licensing and collaboration agreement with Shire. The milestone was achieved in conjunction with dosing patients in its Phase 1 clinical trial of AGT-182, an investigational treatment of Hunter syndrome, and under terms of the agreement, the Company is entitled to a milestone payment from Shire. Also known as MPS II, Hunter syndrome is a rare, severe, progressive and life-limiting lysosomal storage disorder. The primary objective of the Phase 1 trial is to test the safety and determine a well-tolerated dose of AGT-182, an investigational enzyme replacement therapy, in adult patients with Hunter syndrome. ArmaGen plans to enroll 12 patients 18 years and older into the study. These patients will be treated for a total of eight weeks, with all enrolled patients receiving AGT-182.
07:01 EDTPFEVentana receives FDA approval for IHC companion diagnostic for Xalkori
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