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News Breaks
January 7, 2013
12:46 EDTBAYRY, ONXXOnyx Pharmaceuticals expects to initiate Phase 3 carfilzomib trial in 2013
As part of the global commercialization strategy for Kyprolis, Onyx (ONXX) is exploring opportunities in countries outside of the U.S. that consider marketing authorization based on U.S. approval. Onyx expects to pursue agreements with established distributors for regulatory and commercialization activities in those markets. Last week, Onyx and Bayer (BAYRY) announced top-line results from the DECISION trial in patients with locally advanced or metastatic radioactive iodine-refractory differentiated thyroid cancer. The study met its primary endpoint of improving progression-free survival. Full results are expected to be presented at an upcoming medical meeting. The companies anticipate that this data will form the basis for regulatory submission of Nexavar in the treatment of RAI-refractory differentiated thyroid cancer.In the first half of 2013, enrollment is expected to complete in the RESILIENCE trial, a Phase 3 study comparing capecitabine in combination with sorafenib or placebo for treatment of locally advanced or metastatic HER2-negative breast cancer.
News For ONXX;BAYRY From The Last 14 Days
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July 31, 2015
09:32 EDTBAYRYFoamix says FDA approves Finacea Foam 15% for mild to moderate rosacea
As announced by Bayer HealthCare (BAYRY), the U.S. FDA has approved Finacea Foam, 15% for topical treatment of the inflammatory papules and pustules of mild to moderate rosacea. Papulopustular rosacea is a skin disease causing inflammatory lesions on the nose, cheeks, chin and forehead. Finacea Foam was developed as part of a research and development collaboration between Foamix Pharmaceuticals Ltd. (FOMX) and Bayer HealthCare, utilizing Foamix's proprietary foam technology platform. According to a license agreement between the two companies, Foamix is entitled to royalties and certain milestone payments upon commercialization of Finacea Foam. Finacea Foam will be available by prescription beginning in September, and will be marketed in the United States by Bayer HealthCare.
July 29, 2015
05:47 EDTBAYRYBayer cuts FY15 sales to EUR 47B from EUR 48B- EUR 49B
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05:42 EDTBAYRYBayer reports Q2 Healthcare sales up 28% to EUR 5.91B
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05:40 EDTBAYRYBayer reports Q2 net income EUR 1.52B vs. EUR 953M last year
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July 20, 2015
10:00 EDTBAYRYOn The Fly: Analyst Downgrade Summary
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08:38 EDTBAYRYAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
07:30 EDTBAYRYZoetis 'highly likely' to merge with Bayer unit in 2016, says Jefferies
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05:21 EDTBAYRYBayer downgraded to Hold from Buy at Jefferies
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