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Stock Market & Financial Investment News

News For NVO;VPHM;INFI;MRK;AGN;SHPG;SGEN;OREX;AMGN;SNY;JNJ;PFE From The Last 14 Days
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March 23, 2015
11:09 EDTPFEPfizer hits best level in over decade after Jefferies adds to list of best ideas
The shares of Pfizer (PFE) are rising after an analyst wrote that the company's shares are poised to rise significantly over the next one to two years. Additionally, the company announced that it would resume developing its painkiller, tanezumab, in partnership with Eli Lilly (LLY). ANALYST OUTLOOK: Pfizer's breast cancer drug for postmenopausal women, Ibrance, has had one of the best launches of any oncology drug ever, Jefferies analyst Jeffrey Holdford wrote in a note to investors today. A survey of U.S. oncologists conducted by the firm shows that the doctors expect the drug to be used on about 50% of patients needing first line hormonal therapy within one year, while the drug will be used as an off-label treatment in all lines of therapy, the analyst wrote. The drug will generate revenue of $5.5B in 2020, versus the consensus outlook of $3.3B, Holford estimated. Meanwhile, the drug maker's Global Established Pharmaceutical, or GEP, business' revenue and profits should top consensus estimates by14% by 2018, according to the analyst. Pfizer could generate value through accretive M&A activity and by separating the GEP unit by 2017, Holdford stated. He raised his price target on the name to $45 from $42, kept a buy rating on the shares, and added the stock to the firm's Franchise Picks list, which encompasses its best ideas. WHAT'S NOTABLE: Pfizer announced that, in partnership with Eli Lilly, it would resume its Phase 3 clinical program for tanezumab. The announcement was made after the FDA removed a partial clinical hold on the drug, Pfizer noted. As a result of its decision, Pfizer expects to receive a $200M payment, in accordance with the companies' agreement, Pfizer stated. PRICE ACTION: In mid-morning trading, Pfizer climbed 2.4% to $35.08. The stock has not traded at a price per share this high since 2004.
11:01 EDTPFEPfizer rallies to fresh 52-week high, levels to watch
Shares are up over 2.8% at time of writing to $35.14, just below the new 52-week high at $35.26 which is now initial resistance. Next resistance above is at $35.89 and then at $36.63. Support is at $34.89.
09:45 EDTNVO, SHPG, SNY, MRKUBS to hold a field trip
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09:37 EDTPFE, SHPGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AUY SLB PFE MCP CELG VRTX SHPG GILD LOGI TSLA TASR NFLX SCTY WFM
09:03 EDTAGN, AMGN, JNJLeerink analysts hold a meeting with a conference call hookup
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08:22 EDTSGENEditorial on Seattle Genetics AETHERA was positive, says RBC Capital
RBC Capital believes that the Lancet editorial on Seattle Genetics' AETHERA was positive, and the firm expects the drug's label to expand. However, the firm warns that for further upside Seattle Genetics needs one or more programs targeting unmet need with clearly delineated paths to approval. The firm keeps a $50 price target and Outperform rating on the shares.
08:06 EDTPFEPfizer, Eli Lilly to resume Phase 3 chronic pain program for Tanezumab
Pfizer (PFE) and Eli Lilly and Company (LLY) announced that they are preparing to resume the Phase 3 clinical program for tanezumab. As a result, Pfizer expects to receive a $200M upfront payment from Lilly in accordance with their collaboration agreement. This announcement follows a decision by the U.S. FDA to lift the partial clinical hold on the tanezumab development program after a review of a robust body of nonclinical data characterizing the sympathetic nervous system response to tanezumab. The data were submitted to the FDA in February. In the prior clinical studies of more than 11,000 patients, tanezumab demonstrated clinically meaningful efficacy vs. placebo and other select commonly used pain medicines. A partial clinical hold has been in place for tanezumab and all other anti-nerve growth factor antibodies since December 2012 due to adverse changes in the sympathetic nervous system of mature animals. Studies in terminal cancer pain were allowed to proceed.
08:05 EDTPFEPfizer, Eli Lilly to resume Phase 3 chronic pain program for Tanezumab
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07:36 EDTPFE, SHPGPfizer should rise 'significantly' over next two years, says Jefferies
Jefferies analyst Jeffrey Holford told investors this morning that he expects shares of Pfizer (PFE) to appreciate "significantly" over the next two years. A survey of U.S. oncologists indicated the company's Ibrance drug will be used in 50% of first line hormonal therapy within one year, with off-label use in all lines of therapy including adjuvant, Holford noted. He thinks peak sales of the drug could top $13B, which is well above consensus. In addition, the analyst views Pfizer's Global Established Pharmaceutical business as being underappreciated by the market. Potential value creating options for the pharmaceutical giant include spinning off its GEP unit by 2017 and accretive acquisitions, with possible takeover targets being Shire (SHPG), Actavis (ACT), AstraZeneca (AZN) and GlaxoSmithKline (GSK), in the eyes of Holford. He added the stock to the firm's Franchise Picks list, which encompasses its best ideas. He also raised his price target for Pfizer to $45 from $42. The stock closed Friday up 10c to $34.25.
07:17 EDTMRKAmerican Academy of Dermatology to hold annual meeting
73rd Annual Meeting of AAD is being held in San Francisco on March 20-24.
March 22, 2015
12:16 EDTNVONovo Nordisk to hold a conference call
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March 20, 2015
13:03 EDTPFEPfizer says oral tofacitinib meets primary endpoint in Phase 3 trials
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10:00 EDTSHPGOn The Fly: Analyst Upgrade Summary
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09:41 EDTSHPGBernstein global specialty pharma analyst holds analyst/industry conference call
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09:06 EDTAMGNAmgen submits application for marketing approval for RepathaTM in Japan
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08:12 EDTSHPGShire upgraded to Outperform from Market Perform at Bernstein
Bernstein upgraded Shire as the firm thinks that the stock's risk/reward ratio is positive following several new developments. Among these developments are the firm's belief that the company's orphan drug strategy looks increasingly strong, while the risks to the company's Vyvanse and mesalamines drugs look to have moderated and the company has several near-term, 2015 catalysts. Target $295.
07:55 EDTPFEAstraZeneca seen as potential target again if oncology drugs lag, Bloomberg says
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07:41 EDTMRK, PFE, AMGNAmerican Academy of Dermatology to hold annual meeting
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March 19, 2015
15:55 EDTAMGNAmgen injunction bid for Neupogen biosimilar denied, Reuters reports
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15:13 EDTAMGNAmgen denied preliminary injunction for biologics against Novartis, Reuters says
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