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Stock Market & Financial Investment News

News Breaks
July 22, 2014
16:18 EDTPBYI, PFEPuma Biotech now responsible for R&D expenses associated with legacy trials
Puma Biotechnology (PBYI) announced an amendment to its licensing agreement with Pfizer (PFE) for Puma's investigational drug PB272, or neratinib. The amendment to the license agreement provides that Puma will now be solely responsible for the expenses associated with the ongoing legacy clinical trials. Puma anticipates that this will result in an increase in research and development, or R&D, expenses, which will total approximately $30M. Puma further anticipates that a significant percentage of this approximately $30M will occur in FY14 and will decrease over time until the trials are completed. In addition, according to the terms of the original license agreement, upon commercialization of neratinib, Puma is obligated to pay Pfizer incremental annual royalties ranging between 10%-20% of net sales of neratinib. Under the terms of the amendment to the license agreement, upon commercialization of neratinib, Puma will be obligated to pay Pfizer annual royalties on net sales of neratinib at a fixed rate in the low- to mid- teens.
News For PBYI;PFE From The Last 14 Days
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September 17, 2014
07:43 EDTPFEBofA/Merrill to hold a conference
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September 16, 2014
11:51 EDTPFEOECD looks to close tax loopholes with new proposals
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07:19 EDTPFECompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
September 15, 2014
09:25 EDTPFEJPMorgan biotech analysts hold an analyst/industry conference call
Analysts assess Pfizer's M&A options on an Analyst/Industry conference call to be held on September 15 at 10 am.
07:27 EDTPFEIBC Life Sciences to hold a conference
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07:27 EDTPFEPfizer acquisition could drive shares higher, says JPMorgan
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September 14, 2014
13:32 EDTPFEPfizer shares look cheap, Barron's says
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September 12, 2014
10:32 EDTPFEPfizer CEO says company still open to inversion deal, FT says
Pfizer (PFE) CEO Ian Read said U.S. rhetoric against tax inversions has been "political theater" ahead of midterm elections and made clear that his company is still open to a potential tax-saving acquisition, according to Financial Times, which added Read's comment about not being “held hostage” over price would likely be read as a signal the company might look elsewhere after being rebuffed by AstraZeneca (AZN). The Fly notes that Bloomberg previously reported, citing people familiar with the matter, that Pfizer is looking at targets other than AstraZeneca, including Actavis (ACT). Shares of Actavis trading in New York are up 2% this morning. Reference Link
September 8, 2014
07:15 EDTPFEIBC Life Sciences to hold a conference
10th Annual Cell Line Development & Engineering Conference to be held in Berkeley, California on September 8-10.

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