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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
Check below for free stories on NVO;VPHM;INFI;MRK;AGN;SHPG;SGEN;OREX;AMGN;SNY;JNJ;PFE the last two weeks.
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April 24, 2014
12:10 EDTJNJZimmer advances after agreeing to merge with competitor
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10:23 EDTJNJJohnson & Johnson increases quarterly dividend 6.1% to 70c per share
Johnson & Johnson announced that its Board of Directors has declared a 6.1% increase in the quarterly dividend rate, from 66c per share to 70c per share. The increase was announced this morning at the Annual Meeting of Shareholders. At the new rate, the indicated dividend on an annual basis is $2.80 per share compared to the previous rate of $2.64 per share. The next quarterly dividend is payable on June 10 to shareholders of record at the close of business on May 27. The ex-dividend date is May 22.
09:22 EDTPFEActavis enters into patent settlement with Pfizer for generic Celebrex
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08:43 EDTJNJZimmer deal could pressure Stryker, Smith & Nephew to grow, says Wells Fargo
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07:55 EDTAGNBernstein's specialty pharma analyst holds an analyst/industry conference call
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06:39 EDTSHPG, AGNValeant deal better for Allergan than Shire merger, says Leerink
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06:02 EDTAGNStocks with implied volatility below IV index mean; AGN MNKD
Stocks with implied volatility below IV index mean; Allergan (AGN) 29, MannKind (MNKD) 72 according to iVolatility.
April 23, 2014
19:05 EDTAMGNBayer, Onyx report publishing of positive Phase 3 trial results
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16:46 EDTJNJFDA approves Sylvant for rare Castlemanís disease
The FDA approved Sylvant to treat patients with multicentric Castlemanís disease, a rare disorder similar to lymphoma, which is cancer of the lymph nodes. Sylvant is marketed by Janssen Biotech.
13:56 EDTAMGNAmgen sell-off creates buying opportunity, says Argus
After Amgen reported weaker than expected Q1 results, Argus believes that the company's key growth drivers performed well last quarter. The firm thinks the company's growth outlook looks solid, and it keeps a Buy rating on the shares.
10:01 EDTAGNOn The Fly: Analyst Upgrade Summary
A.O. Smith (AOS) upgraded at BMO Capital... Agnico-Eagle (AEM) upgraded to Outperform from Sector Perform at RBC Capital... Allergan (AGN) upgraded to Overweight from Neutral at JPMorgan... Cabot Oil & Gas (COG) upgraded to Buy from Hold at Societe Generale... Cree (CREE) upgraded to Buy from Hold at Summit Research... E-Trade (ETFC) upgraded to Outperform from Market Perform at Wells Fargo... Equifax (EFX) upgraded at Credit Suisse... Fluidigm (FLDM) upgraded to Buy from Neutral at Mizuho... GlaxoSmithKline (GSK) upgraded to Buy from Hold at Argus... GulfMark Offshore (GLF) upgraded to Buy from Neutral at Global Hunter... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at Fig Partners... Illumina (ILMN) upgraded to Buy from Hold at Maxim... Lumber Liquidators (LL) upgraded to Buy from Neutral at Longbow... Medidata Solutions (MDSO) upgraded to Buy from Neutral at B. Riley... Prologis (PLD) upgraded to Buy from Neutral at ISI Group... Sanmina (SANM) upgraded to Buy from Hold at Craig-Hallum... SunPower (SPWR) upgraded to Buy from Hold at Deutsche Bank... TECO Energy (TE) upgraded to Neutral from Sell at UBS... Torchmark (TMK) assumed with a Market Perform from Underperform at Keefe Bruyette... Valeant (VRX) upgraded to Buy from Hold at TD Securities... Vitamin Shoppe (VSI) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Outperform from Neutral at Credit Suisse... athenahealth (ATHN) upgraded to Overweight from Equal Weight at Morgan Stanley.
09:34 EDTAMGNActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD NFLX TSLA VZ MU WFM AMGN
09:16 EDTAMGNOn The Fly: Pre-market Movers
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08:18 EDTAGNValeant Allergan offer likely to increase, says BMO Capital
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07:53 EDTAMGNAmgen weakness a buying opportunity, says Cowen
Cowen would use any weakness in Amgen as buying opportunity and said the recent shortfall was due to seasonal factors and that 2014 remains on track. The firm cited company guidance, its superior profile relative to peers, potential for increased dividends, and a maturing pipeline. Shares are Outperform rated with a $131 price target.
07:25 EDTAGNAllergan staying independent 'likely not in the cards," says Piper Jaffray
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07:00 EDTSHPG, PFETerrapinn to hold a conference
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06:54 EDTAMGN, SNY, MRK, PFECambridge Healthtech Institute to hold a conference
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06:54 EDTMRK, SNY, JNJ, NVO, PFEGlobal Technology Community to hold a summit
7th Annual Diabetes Summit is being held in Cambridge, MA on April 23-25.
06:53 EDTPFE, AMGN, JNJ, SNYFood & Drug Law Institute to hold a conference
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06:16 EDTJNJ, MRK, PFE, SNYPharmaceutical companies narrowing focus, WSJ reports
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06:06 EDTAGNStocks with implied volatility below IV index mean; AGN MNKD
Stocks with implied volatility below IV index mean; Allergan (AGN) 32, MannKind (MNKD) 73 according to iVolatility.
05:53 EDTAGNAllergan upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded its rating on Allergan (AGN) to Overweight saying it sees "compelling value" in a potential merger with Valeant (VRX). The firm sees limited downside in Allergan shares and raised its price target for the stock to $190 from $130. JPMorgan also upped its price target for Valeant shares to $180 from $170 and reiterates an Overweight rating on the name.
April 22, 2014
20:36 EDTAGNAllergan announces one-year stock holder rights plan
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17:45 EDTAGNValeant, Pershing Square offer for Allergan should pay off, Barron's says
Valeant's (VRX) offer to acquire Allergan (AGN) with Pershing Square should pay off for investors, Barron's contends in its "Barron's Take" column. If Allergan opposes the deal, a poison pill plan could emerge, the paper adds. Reference Link
16:33 EDTAGNOn The Fly: Closing Wrap
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16:32 EDTAMGNAmgen says total product sales declined 9% sequentially in Q1
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16:25 EDTAMGNAmgen trades lower after results, first look
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16:06 EDTAMGNAmgen sees FY14 EPS $7.90-$8.20, consensus $8.16
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16:05 EDTAMGNAmgen reports Q1 EPS $1.87, consensus $1.94
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15:32 EDTAMGNNotable companies reporting after market close
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14:58 EDTAGNValeant says won't pay whatever price necessary for Allergan, Reuters says
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14:35 EDTAGNAllergan downgraded at Argus
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14:35 EDTAMGNEarnings Preview: Amgen's timeline for Evolocumab will be in focus
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14:33 EDTAGNAllergan downgraded to Hold from Buy at Argus
12:39 EDTAGN, SHPG, JNJ, MRKOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday amid a number of big deals and a much talked about proposed deal in the pharmaceutical industry, as well as another wave of earnings reports. The market opened quietly but on the positive side of the ledger as investors pored over the multitude of quarterly reports issued after the close last night and earlier today. Near noon the market stood near its session highs and is pointing toward its sixth consecutive positive close. ECONOMIC EVENTS: In the U.S., existing home sales slipped 0.2% to a 4.59M rate in March, versus expectation for them to have fallen 1% to a 4.56M rate. The Richmond Fed manufacturing survey for April had a reading of 7, beating the consensus forecast for a reading of 2. COMPANY NEWS: Valeant Pharmaceuticals (VRX) teamed with Bill Ackman's hedge fund Pershing Square to make a hostile takeover offer for Allergan (AGN), sending shares of both companies higher. Allergan confirmed it received the offer of $48.30 in cash and 0.83 shares of Valeant stock for each of its own shares, which it said it will evaluate with the help of its advisers. Analysts' opinion on the fallout varied, with one firm suggesting Allergan could pursue its own takeover of Shire (SHPG) or Jazz Pharmaceuticals (JAZZ) as a defense, and another saying a rival big pharma company, such as Johnson & Johnson (JNJ) or Merck (MRK), could launch a competing bid for Allergan. Shares of Allergan led all gainers on the S&P 500, rising 16%, while Valeant shares gained more than 6%... A number of other big drug makers made news with a string of deals, as Novartis (NVS) and GlaxoSmithKline (GSK) both reshaped their companies via a trio of agreements. Novartis will acquire GSK's oncology products for a $14.5B payment and up to $1.5B contingent future payments, Novartis will sells its Vaccines business, excluding flu, to GSK for $7.1B plus royalties, and the two agreed to tie-up their consumer healthcare businesses through a joint venture. In a separate transaction, Novartis agreed to divest its Animal Health Division to Eli Lilly (LLY) for about $5.4B. MAJOR MOVERS: Among the notable gainers following their earnings reports were streaming video service Netflix (NFLX), which advanced almost 6%, and motorcycle maker Harley-Davidson (HOG), which rose 8%. Companies that slid following their earnings reports included printer maker Lexmark (LXK), which fell over 11%, and Pentair (PNR), which dropped almost 6%. INDEXES: Near midday, the Dow was up 106.77, or 0.65%, to 16,556.02, the Nasdaq was up 45.95, or 1.11%, to 4,167.50, and the S&P 500 was up 11.59, or 0.62%, to 1,883.48.
12:00 EDTAGNAllergan rises 15.3%
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11:37 EDTAGNValeant sees annual cost synergy opportunity of $2.7B from Allergan proposal
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11:22 EDTJNJ, MRK, SHPG, AGNAnalysts think Valeant bid for Allergan could spur higher offer, rival deal
After Valeant Pharmaceuticals (VRX) teamed with hedge fund Pershing Square to make a hostile takeover offer for Allergan (AGN), analysts' opinion on the fallout varied, with one firm suggesting Allergan could pursue its own takeover as a defense and another believing Valeant will be pushed to raise its offer. WHAT'S NEW: Valeant, in partnership with Bill Ackman's Pershing Square, offered to combine with Allergan for $48.30 in cash and 0.83 shares of Valeant stock for each share of Allergan. Allergan has confirmed it received the offer and said that it would evaluate the proposal. ANALYST OPINION: In a note to investors, Wells Fargo stated that it believes that Valeant's low tax rate will enable it to raise its bid. Moreover, one or more big pharmaceutical companies, such as Johnson & Johnson (JNJ) or Merck (MRK), could launch a competing bid for Allergan, added Wells. The firm believes that Allergan could ultimately be purchased for $165 per share. Research firm Jefferies said it expects Allergan's board to oppose Valeant's takeover attempt. The firm suggested that Allergan could seek to fend off Valeant's takeover attempt by acquiring Shire (SHPG) or Jazz Pharmaceuticals (JAZZ). Jefferies kept a Hold rating on Allergan. BMO Capital similarly believes that Valeant will have to overcome significant hurdles in order to complete the deal. The management teams of the two companies have different views and Allergan's business could be damaged by significant cost cutting following the deal, according to the firm. Nonetheless, it kept an Outperform rating on the Botox maker. PRICE ACTION: In mid-morning trading, Allergan rallied 15.5% to $164, Valeant gained 4.4% to $133, Jazz shares rose 6.4% to $147.18 and Shire added 4.8% to $158.62.
11:21 EDTAGNValeant says already in talks with FTC about potential Allergan combination
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11:02 EDTAGNAllergan confirms receipt of Valeant offer, says will review and consider
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10:00 EDTSHPG, AGNOn The Fly: Analyst Initiation Summary
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10:00 EDTAGNAllergan rises 15.5%
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09:16 EDTAGNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 8%... Harley-Davidson (HOG), up 7%... PLX Technology (PLXT), up 8%... Illinois Tool (ITW), up 2.3%... Comcast (CMCSA), up 1%... McDonald's (MCD), up 0.6%. ALSO HIGHER: Allergan (AGN), up 17% after Valeant (VRX) confirms proposal to combine with the company for $48.30 and 0.83 shares of stock. Valeant is up 5% following its confirmation of the news that broke last night... GlaxoSmithKline (GSK), up 4.5% after agreeing to sell oncology products for $14.5B to Novartis (NVS) and buy Novartis' Vaccines business, currently excluding its flu business, for $7.1B plus royalties. Novartis shares trading in New York are also up 1% following the deals... Revance Therapeutics (RVNC), up 20% after announcing positive results from RT002 Phase 1/2 study... Facebook (FB), up 2% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Xerox (XRX), down 4%... Lexmark (LXK), down 4.8%. ALSO LOWER: Allison Transmission (ALSN), down 4% after filing to sell 25M shares for holders... FireEye (FEYE), down 2.9% after filing to sell 13.3M shares of common stock for holders... Bebe stores (BEBE), down 16% after reporting preliminary Q3 losses that were steeper than the consensus estimate.
09:00 EDTAGNAllergan rises 17.1%
Allergan is up 17.1%, or $24.30, to $166.30
08:08 EDTPFEAstraZeneca Pfizer deal is doable, says Bernstein
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08:03 EDTPFEPfizer says OPT Pivotal #1 and #2 programs meet primary endpoints in study
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07:51 EDTAGN, SHPGAllergan could fend off Valeant with acquisition, says Jefferies
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07:43 EDTSHPGShire initiated with a Buy at Jefferies
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07:42 EDTAGNAllergan initiated with a Hold at Jefferies
Target $139.
07:33 EDTAGNValeant proposes to combine with Allergan for $48.30 and 0.83 shares of stock
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07:32 EDTAGNValeant proposes to combine with Allergan for $48.30 and 0.83 shares of stock
07:16 EDTPFEAstraZeneca cancer pipeline viewed as possible draw for Pfizer, Reuters says
Pfizer (PFE) could come back to make an offer to AstraZeneca (AZN) after its reported $101B takeover approach was declined, since an agreement could benefit the U.S. pharmaceutical company as it aims to improve its cancer pipeline, reported Reuters. Reference Link
07:08 EDTAGNAllergan price target raised to $190 from $140 at Credit Suisse
Credit Suisse raised Allergan's (AGN) price target to $190 from $140 based on what it expects a successful offer price by Pershing Square and Valeant (VRX) will have to be in order to complete the deal. Shares of Allergan are Outperform rated.
06:53 EDTAGNValeant Pharmaceuticals volatility expected to move on bid for Allergan
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06:51 EDTAGNAllergan fits Valeant criteria, says Cantor
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06:46 EDTAGNAllergan option volume active into Bill Ackman and Valeant Pharmaceuticals bid
Allergan (AGN) option volume of 22K contracts on April 21 was the heaviest volume day in four-months into Bill Ackman and Valeant Pharmaceuticals (VRX) teaming up to make a bid for Allergan. Overall option volatility of 30 is near its 26-week average of 29 according to Track Data. Active volume suggests traders taking positions for large price movement.
06:19 EDTAGNValeant bid for Allergan has 'significant hurdles,' says BMO Capital
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06:11 EDTMRK, JNJ, AGNWells says big pharma bidders could emerge for Allergan
Wells Fargo believes Allergan (AGN) wants to remain independent and says the "hurdle to convince the company to sell could be pretty high." Wells thinks Valeant's (VRX) low tax rate gives it room to raise its bid for Allergan, and it sees the potential for one or more big pharma bidders, such as Johnson & Johnson (JNJ) or Merck (MRK), emerging due to Allergan's "attractive eye care and aesthetics portfolio and pipeline." Wells believes a purchase price for Allergan of $50B or $165 per share could be justified.
05:27 EDTPFEAstraZeneca upgraded to Buy from Neutral at Citigroup
Citigroup upgraded AstraZeneca (AZN) to Buy calling a takeover by Pfizer (PFE) a "high probability event." Citi believes AstraZeneca's oncology pipeline is undervalued at current share levels.
05:13 EDTAGNAllergan comments on public filings by Valeant, Pershing Square
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April 21, 2014
19:02 EDTAGNOn The Fly: After Hours Movers
NOTABLE: Allergan (AGN), up 20%, and Valeant Pharmaceuticals (VRX), up 9.1%, both advanced after The Wall Street Journal reported that activist investor Bill Ackman is teaming up with Valeant to make a bid for Allergan. Following the report, Ackman's Pershing Square filed a 13D with the SEC disclosing a 9.7% stake in Allergan and outlining an agreement with Valeant. The agreement, among other things, said that Valeant plans to make a bid for Allergan comprised of $15B of cash and a to-be-determined amount of Valeant stock. The filing also showed that Ackman began building a position in Allergan in late February, and at that time entered an agreement with Valeant forming a new, jointly-owned entity through which to acquire a position in Allergan. CNBC's David Faber reported that Valeant is expected to officially make a hostile bid for Allergan by tomorrow. UP AFTER EARNINGS: Netflix (NFLX) gained 6.3% after reporting profits that beat expectations on revenues that were in-line with expectations. The streaming internet video service also reported that U.S. subscribers grew by 2.25M in the first quarter, with its international subscriber base expanding by 1.75M for the period. DOWN AFTER EARNINGS: Rambus (RMBS) fell 7.5% after providing a second quarter revenue outlook that fell short of expectations, with the company adding that its revenue outlook, "includes expectations that the company will sign new customers for patent as well as solutions licensing." Rambus' first quarter results, however, came in better than expected, and the company also reaffirmed its fiscal 2014 revenue outlook.
17:10 EDTAGNValeant says Ackman can terminate agreement if no Allergan offer by May 2
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17:09 EDTAGNValeant says intends to propose merger with Allergan
Company said in regulatory filing it expects offer to be comprised of $15B of cash with a stock component to be determined.
17:07 EDTAGNValeant, Allergan deal to have $25-$30 per share of synergies, Faber says
CNBC's David Faber is reporting that Valeant's board is meeting tonight regarding a potential bid for Allergan, which it will make in combination with Bill Ackman's Pershing Square. Faber reports that the proposed combination would have about $25-$30 per share in synergies and the offer will 1/3 cash and 2/3 stock.
17:05 EDTAGNAckman reports 9.7% stake in Allergan, to consult with Valeant stake
Bill Ackman's Pershing Square disclosed in a regulatory filing that it holds a 9.7% stake in Allergan (AGN) and that it intends to consult with Valeant (VRX) on its investment. In its filing, Pershing Square said, "Valeant currently intends to propose a merger in which Allergan's shareholders will receive a combination of cash and Valeant common shares. Valeant has not yet determined the amount of cash and number of Valeant common shares it will offer, but it currently expects the cash component will total around $15B. Barclays and Royal Bank of Canada have indicated that they are prepared to deliver financing commitments covering the cash portion of the transaction at the time Valeant makes an offer." Pershing disclosed that on February 25, it entered an agreement with Valeant. As part of the deal, Pershing and Valeant agreed to for a new, jointly owned entity through which they would acquire equity in Allergan. Also, as part of that deal, Pershing Square will acquire $400M of Valeant stock at a 15% discount to current market prices immediately prior to consummation of an offer by Valeant to acquire Allergan. Shares of Allergan remain higher by more than 18% in after hours trade, while Valeant shares are up about 10%.
16:59 EDTAGNPershing Square says intends to consult with Valeant on Allergan investment
16:58 EDTAGNPershing Square says Valeant intends to propose merger with Allergan
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16:57 EDTAGNPershing Square reports 9.7% stake in Allergan
16:40 EDTPFEOn The Fly: Closing Wrap
Stocks on Wall Street were higher for the fifth straight session. Volume remained light on this Monday following Easter, as a number of international markets remained closed. The averages spent time on both sides of the flat-line early in the trading day before settling into a narrow range in positive territory for most of the second half of the session. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index fell to 0.20 in March, matching the consensus forecast. The Conference Board's index of leading indicators rose 0.8% in March, beating the consensus forecast for an increase of 0.7%. COMPANY NEWS: Ford (F) is preparing to announce that its Chief Operating Officer, Mike Fields, will take the CEO role at the company following the retirement of current CEO Alan Mulally later this year, according to a report from Bloomberg. Shares of Ford were little changed for the session following the report, losing 2c, or 0.13%, to close at $15.98... U.S.-listed shares of British pharmaceutical company AstraZeneca (AZN) gained $5.61, or 8.84%, to $69.10 after the U.K.'s Sunday Times said Pfizer (PFE) has takeover interest in the company. Analysts had mixed opinions on the report, with Citigroup saying a bid looks "highly probable," while analysts at Bernstein think such a deal would conflict with Pfizer's strategy of getting smaller. Shares of Pfizer rose 61c, or 2.02%, to $30.86 following the report... MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), up $9.58, or 39.26%, to $33.98 after announcing plans to submit a New Drug Application to the FDA by the end of this year for the approval of eteplirsen for the treatment of Duchenne muscular dystrophy. Also higher was Advanced Micro Devices (AMD), which rose 43c, or 11.65%, to $4.12 after the semiconductor manufacturer reported earnings and revenue that topped expectations after the close on Thursday. Among the noteworthy losers was MoneyGram (MGI), down $2.01, or 13.57%, to $12.80 in its second straight losing session after Wal-Mart (WMT) announced that it was launching its own money transfer service. MoneyGram's slide today comes after the stock dropped by more than 18% on Thursday following Wal-Mart's announcement. Also lower was lululemon (LULU), down $2.64, or 5.11%, to $49.07 after analysts at Sterne Agee said the company's investor day presentation, held on Thursday, did not include a substantive plan to grow same-store sales. INDEXES: The Dow was up 40.71, or 0.25%, to 16,449.25, the Nasdaq was up 26.03, or 0.64%, to 4,121.55, and the S&P 500 was up 7.04, or 0.38%, to 1,871.89.
16:40 EDTAGNValeant expected to make hostile bid for Allergan tomorrow, Faber says
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16:38 EDTAGNAckman, Valeant team up on Allergan bid, WSJ says
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16:26 EDTAGNValeant, Bill Ackman team up on Allergan takeover, DJ says
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12:47 EDTPFEOn The Fly: Midday Wrap
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11:33 EDTSNYAward of $16M to Sanofi, Abbott for damages upheld on appeal
The Court of Appeals for the Federal Circuit affirmed a lower court ruling that Glenmark Pharmaceuticals infringed a patent related to the antihypertension drug Tarka that is owned by or exclusively licensed to Sanofi (SNY), Abbott Labs (ABT), and their related companies. In the prior case, Glenmark admitted infringement and the jury awarded $15.2M in lost profits and about $800K in price erosion damages. The appeals court affirmed the district court's jurisdiction in the matter, as well as its judgment and related rulings. Reference Link
11:08 EDTJNJ, AGNAllergan recent rally due to several factors, says BMO Capital
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10:18 EDTPFEAnalysts differ on chances of Pfizer interest in AstraZeneca
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09:21 EDTPFEOn The Fly: Pre-Market Movers
HIGHER: Sarepta (SRPT), up 54% after announcing plans to to submit NDA for Eteplirsen by year end 2014. Shares of Prosnesa (RNA), another drugmaker working on a competing DMD drug, are up more than 12%... AstraZeneca (AZN), up 6% after the Sunday Times says that Pfizer (PFE) is considering a takeover bid for the company. Pfizer is up 1.2% following the report... Newmont Mining (NEM), up 8% after WSJ says the company and Barrick Gold (ABX) could resume merger talks as soon as today... Cbeyond (CBEY), up 39% after agreeing to be acquired for about $323M by Birch Communications... Momenta Pharma (MNTA), up 10.5% after the Supreme Court rejected Teva's (TEVA) bid to delay generic Copaxone... Nu Skin (NUS), up 5% after saying its China division will resume corporate-hosted business meetings... Micron (MU), up 4% after price target raised at Drexel Hamilton... DOWN AFTER EARNINGS: Acacia Research (ACTG), down 6%... athenahealth (ATHN), down 5.6%.
08:36 EDTSNYAastrom announces definitive agreement to acquire Sanofi's CTRM business
Aastrom Biosciences (ASTM) announced that it has entered into a definitive agreement to acquire Sanofi's (SNY) Cell Therapy and Regenerative Medicine, or CTRM, business for a purchase price of $6.5M, with $4M payable in cash at closing and $2.5M payable in the form of a promissory note. The acquisition is subject to customary closing conditions and is scheduled to close in approximately three weeks. Through the CTRM acquisition, Aastrom is acquiring global commercial rights to three marketed autologous cell therapy products. Aastrom will also acquire global manufacturing and production centers located in the United States and Denmark.
08:32 EDTSNYAastrom announces definitive agreement to acquire Sanofi's CTRM business
07:47 EDTPFEPfizer unlikely to have been interested in AstraZeneca, says Bernstein
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07:21 EDTPFE, MRK, JNJ, SNYFDA Pediatric Advisory Committee to hold a meeting
The Committee discusses pediatric-focused safety reviews including MDT's Activa Dystonia Therapy, (BAX's Advate and Tisseel, NVS' Famvir, Tibotec's (JNJ subsidiary) Intelence, UCB Pharma's Keppra, MRK's Maxalt, BAYRY's Natazia, Digestive Care's Pertzye, JNJ's Prezista, BMY's Reyataz, SNY's Sklice, PFE's Torisel, Aptalis' Ultresa, and GILD's Viread in a meeting being held in Bethesda, Maryland on April 21 at 8 am. Webcast Link
07:06 EDTPFEPfizer bid for AstraZeneca 'looks highly probable,' says Citigroup
Citigroup believes Pfizer's (PFE) reported takeover interest in AstraZeneca (AZN) "looks highly probable." Citi thinks a deal would fit Pfizer's strategic goals for immunotherapy and autoimmune disease and would also be financially attractive. The firm expects Pfizer to "aggressively" approach AstraZeneca a second time.
06:47 EDTPFEAstraZeneca volatility elevated, said to have been approached by Pfizer Ė report
AstraZeneca (AZN) implied volatility is expected is to move on Pfizer (PFE) is said to have approached to propose a $101B takeover, says the Sunday Times. Overall option implied volatility of 20 is above its 26-week average of 18 according to Track Data, suggesting large price movement.
06:40 EDTPFEPfizer volatility flat said to be considering bid for AstraZeneca Ė report
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April 20, 2014
20:37 EDTPFEPfizer said to be considering GBP60B bid for AstraZeneca, Sunday Times says
Drug giant Pfizer (PFE) is said to have approached AstraZeneca (AZN) to propose a GBP60B takeover of the U.K company, says the Sunday Times. Informal discussions have recently taken place, say sources, but AstraZeneca is believed to be resisting Pfizerís approach, added the Sunday Times. Reference Link
16:45 EDTPFEBiogen hemophilia drug Alprolix priced similar to older treatments, Reuters says
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April 19, 2014
11:12 EDTMRKLeerink's pharma and biotech analysts hold an analyst/industry conference call
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April 17, 2014
16:31 EDTJNJFDA alert on laparoscopic morcellation mixed for Hologic, says Piper Jaffray
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13:50 EDTMRKFDA approves Ragwitek for short ragweed pollen allergies
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08:38 EDTPFETeva settles patent ligitigation with Pfizer on Celebrex
Teva (TEVA) announced that its subsidiary Teva Pharmaceuticals USA, Inc. has entered into a settlement with Pfizer (PFE) related to Tevaís generic version of Celebrex 50, 100, 200 and 400 mg capsules in the United States. Under the terms of the settlement, Teva may launch its generic versions in December 2014 or earlier under certain circumstances. Teva has received tentative approval from the U.S. Food and Drug Administration for all strengths and believes that it is first-to-file on at least the 100, 200 and 400 mg capsules. Sales of Celebrex were $2.2B in the U.S. according to IMS data as of December, 2013.
08:15 EDTJNJJohnson & Johnson price target raised to $116 from $104 at Argus
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April 16, 2014
10:00 EDTAGNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: A10 Networks (ATEN) initiated with a Buy at BofA/Merrill... Actavis (ACT) initiated with a Buy at Sterne Agee... Allergan (AGN) initiated with a Buy at Sterne Agee... Autohome (ATHM) initiated with a Neutral at Credit Suisse... BitAuto (BITA) initiated with an Outperform at Credit Suisse... Centene (CNC) initiated with a Neutral at UBS... Endo International (ENDP) initiated with a Buy at Sterne Agee... FS Investment (FSIC) initiated with an Overweight at Evercore... Hertz (HTZ) initiated with a Buy at Gabelli... Hilton (HLT) initiated with a Hold at Jefferies... Hospira (HSP) initiated with a Neutral at Sterne Agee... ImmunoGen (IMGN) initiated with a Buy at Canaccord... Impax (IPXL) initiated with a Neutral at Sterne Agee... Imperva (IMPV) assumed with a Neutral at Wedbush... Ingredion (INGR) initiated with an Outperform at Credit Suisse... Laredo Petroleum (LPI) initiated with an Outperform at RW Baird... Lpath (LPTN) initiated with a Buy at Canaccord... MediWound (MDWD) initiated with an Outperform at Oppenheimer... Medivation (MDVN) initiated with a Hold at Canaccord... NPS Pharmaceuticals (NPSP) assumed with a Buy at Canaccord... Nimble Storage (NMBL) initiated with a Market Perform at Raymond James... Regeneron (REGN) initiated with a Buy at Canaccord... Salix (SLXP) initiated with a Buy at Sterne Agee... Sibanye Gold (SBGL) initiated with an Outperform at Imperial Capital... Teva (TEVA) initiated with a Neutral at Sterne Agee... Wipro (WIT) assumed with a Hold at Jefferies.
09:15 EDTSNYImpax launches generic Renvela for kidney disease licensed from Sanofi
Impax Laboratories (IPXL) is commencing shipment of authorized generic Renvela 800 mg tablets, through Global Pharmaceuticals, Impax's generics division. Renvela is indicated for the control of serum phosphorus in patients with chronic kidney disease on dialysis. Under the terms of a settlement agreement, Sanofi (SNY) company Genzyme agreed to grant Impax a license to sell an allotment of a specified number of bottles of an authorized generic version of Renvela tablets commencing on April 16. Impax continues to pursue approval of its pending Abbreviated New Drug Application for generic Renvela with the FDA.
08:34 EDTSGENPiper Jaffray tech and biopharma analysts hold analyst/industry conference call
Technical Analyst Johnson, along with BioPharma Analysts, discuss the recent downturn in the biotech and specialty pharmaceuticals industries on an Analyst/Industry conference call to be held on April 17 at 10 am.
07:38 EDTJNJJohnson & Johnson reported very strong Q1 results, says Bernstein
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07:04 EDTAGNAllergan initiated with a Buy at Sterne Agee
Target $142.
April 15, 2014
17:38 EDTJNJJohnson & Johnson stock looks attractive, Barron's says
Johnson & Johnson stock looks attractive and there's still time to buy in, Barron's contends in its "Barron's Take" column. The company can still deliver strong returns, the paper adds. Reference Link
16:22 EDTJNJOn The Fly: Closing Wrap
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12:58 EDTJNJOn The Fly: Midday Wrap
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10:23 EDTJNJOptions with decreasing implied volatility: FDO JNJ FAST EPB
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09:16 EDTJNJOn The Fly: Pre-market Movers
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09:11 EDTJNJJohnson & Johnson says has implemented some cost reductions in MD&D sector
Says has implemented some cost reductions, combined some businesses in the Medical Devices & Diagnostics sector to better compete in the current marketplace.
08:56 EDTJNJJohnson & Johnson sees FY net interest expense $400M-$500M
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08:23 EDTMRKLeerink's pharma and biotech analysts hold an analyst/industry conference call
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08:19 EDTMRKLeerink's pharma and biotech analysts hold an analyst/industry conference call
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08:19 EDTJNJJohnson & Johnson sees deal to sell K-Y brand to Reckitt closing mid-year
Sees sees deal to sell K-Y brand to Reckitt Benckiser (RBGPF) closing mid-year. Says offer from Carlyle Group (CG) to acquire Ortho-Clinical Diagnostics expected to close mid-year. Comments from slides that will be presented on the Q1 earnings conference call.
08:04 EDTPFEWuXi PharmaTech names Steve Yang as COO and Executive VP
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07:49 EDTJNJJohnson & Johnson reports Q1 Domestic sales up 2.2%; Intl sales up 4.5%
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07:47 EDTJNJJohnson & Johnson raises FY14 EPS to $5.80-$5.90, consensus $5.83
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07:46 EDTJNJJohnson & Johnson reports Q1 adjusted EPS $1.54, consensus $1.48
Reports Q1 revenue $18.1B, consensus $18.0B
07:22 EDTSHPGNovartis to Shire said to mull offers for ThromboGenics, Bloomberg says
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06:32 EDTPFE, JNJ, SNY, MRKPatients paying much more for specialty drugs, NY Times says
The amount that patients with certain diseases must pay for specialty drugs has increased significantly, a research firm reported, according to The New York Times. Meanwhile, consumers' use of health care increased in 2013 for the firm time in three years, the newspaper quoted the firm, the IMS Institute for Healthcare Informatics, as saying. Publicly traded drug makers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded health insurers include AMERIGROUP (AGP), Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH), WellCare (WCG) and WellPoint (WLP).Reference Link
April 14, 2014
18:00 EDTMRKU.S. FDA approves Merck's GRASTEK
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15:17 EDTJNJNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Johnson & Johnson (JNJ), consensus $1.48; Coca-Cola (KO), consensus 44c; Charles Schwab (SCHW), consensus 22c; Northern Trust (NTRS), consensus 78c; Comerica (CMA), consensus 72c; Westamerica (WABC), consensus 58c; Comverse (CNSI), consensus 49c; Pep Boys (PBY), consensus 5c.
13:25 EDTJNJEarnings Preview: J&J looking for another strong performance in pharmaceuticals
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10:02 EDTJNJOn The Fly: Analyst Downgrade Summary
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09:05 EDTPFEGlycoMimetics presents GMI-1070 data
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06:08 EDTMRKMerck volatility elevated into Q1 and outlook
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05:56 EDTJNJJohnson & Johnson downgraded to Hold from Buy at Jefferies
Jefferies downgraded its rating on Johnson & Johnson (JNJ) to Hold citing the recent outperformance of shares. The firm keeps a $105 price target for the stock.
April 11, 2014
18:44 EDTAGN, JNJJ&J halting development of Botox competitor, WSJ says
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07:19 EDTPFEAcura Pharma to host conference call
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07:06 EDTSNYVIVUS announces avanafil clinical data presentation
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05:22 EDTMRKMerck says Hepatitis C combination therapy shows antiviral activity
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April 10, 2014
17:44 EDTMRKMerck stock could return 20%, Barron's says
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09:37 EDTMRKActive equity options trading on open
Active equity options trading on open according to Track Data: SIRI RAD AAPL AMZN AA FB TSLA MRK CVX C
09:21 EDTMRKOn The Fly: Pre-market Movers
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08:03 EDTMRKXencor Merck receives milestone payment from Merck for using XmAb antibody
Xencor (XNCR) announced that the company has received a milestone payment from Merck (MRK), through a subsidiary, triggered by the initiation of a Phase 1 clinical trial for an undisclosed biologic drug candidate that uses Xencor's XmAb antibody engineering intellectual property. Under the terms of the agreement signed in June 2013, Xencor granted Merck a non-exclusive license to certain Xencor patents for use in an undisclosed product, as well as an option to license the same intellectual property for future products. Xencor received an upfront payment and continues to receive annual maintenance fees. Xencor is also eligible to receive milestone payments associated with the successful development of Merck product candidates, as well as royalties on sales of any potential products that may result from this agreement.
06:17 EDTPFEAcura Pharma announces return of product rights from Pfizer
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05:27 EDTMRKMerck announces data from C-WORTHy study
Merck announced additional data from the ongoing C-WORTHy study, a multi-arm Phase 2 clinical trial evaluating the efficacy and safety of a once-daily, all-oral regimen combining MK-5172, an investigational hepatitis C virus, or HCV, NS3/4A protease inhibitor, and MK-8742, an investigational HCV NS5A replication complex inhibitor, among patients with chronic HCV Genotype 1 infection, or GT1. In an interim analysis of treatment-naÔve, non-cirrhotic patients administered a 12-week regimen of MK-5172/MK-8742, with and without ribavirin, or RBV, a sustained viral response, or SVR, was observed in 98% of patients administered MK-5172/MK-8742 alone and 94% in those administered MK-5172/MK-8742 plus RBV.
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