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Stock Market & Financial Investment News

News Breaks
July 31, 2014
16:17 EDTJNJ, PCYCPharmacyclics says $60M Janssen milestone payment to be recognized in Q3
As previously announced on July 28, that the FDA granted IMBRUVICA regular approval for the treatment of patients with CLL who have received at least one prior therapy, and for the treatment of CLL patients with deletion of the short arm of chromosome 17, including treatment naive and previously treated del 17p CLL patients. This approval of IMBRUVICA in del 17p CLL triggers $60M in milestone payments to Pharmacyclics (PCYC) under its agreement with Janssen (JNJ), which will be recognized as revenue in the third quarter of 2014. To date, in addition to the upfront payment of $150M, Pharmacyclics has earned milestone payments of $505M under the agreement. It may receive up to an additional $320M in development, regulatory and approval milestone payments, however, clinical development entails risks and the company has no assurance as to whether or when the milestone targets might be achieved.
News For PCYC;JNJ From The Last 14 Days
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October 1, 2014
10:00 EDTJNJOn The Fly: Analyst Downgrade Summary
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07:52 EDTJNJJ&J purchase of Alios an incremental negative for Achillion, says UBS
UBS views Johnson & Johnson's (JNJ) purchase of Alios as an incremental negative for Achillion (ACHN), as it implies there is now one less potential buyer of the company. However, the firm still thinks ACH-3422 will have considerable strategic value after data is reported and that other HCV players such as AbbVie (ABBV) and Bristol-Myers (BMY) are likely to be interested. UBS maintains its Buy rating and $15 price target on Achillion.
07:41 EDTJNJJohnson & Johnson downgraded to Market Perform from Outperform at Bernstein
Bernstein downgraded Johnson & Johnson as the firm thinks the company's pharmaceutical unit is poised to slow due to increased competition. The firm believes that 2015 estimates for the company look aggressive, while its stock looks fairly valued.
September 30, 2014
16:39 EDTJNJCMS discloses drug makers' payments to doctors, WSJ says
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15:40 EDTJNJJ&J deal for Alios sets valuation benchmark for Novavax, says Piper Jaffray
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12:40 EDTJNJOn The Fly: Midday Wrap
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12:03 EDTJNJAchillion sinks after Johnson & Johnson buys competitor
The shares of Achillion (ACHN), which has developed a treatment for hepatitis C based on a nucleotide and has been viewed as a potential takeover target by analysts previously, are falling after Johnson & Johnson (JNJ) announced this morning that it had agreed to acquire privately held Alios Biopharma. Alios has developed a number of nucleotide-based hepatitis C treatments, as well as an orally administered antiviral therapy currently in Phase 2 studies for the treatment of infants with respiratory syncytial virus. WHAT'S NEW: Johnson & Johnson said that it had agreed to buy Alios for $1.75B. Alios has developed a number of nucleotides that could be used to treat hepatitis C virus, or HCV. Gilead's (GILD) popular HCV treatment Sovaldi is also a nucleotide and Achillion is developing its own HCV nucleotide treatment. According to The Street's Adam Feuerstein, Achillion's nucleotide is similar in structure to that of Alios. Johnson & Johnson had previously been rumored to be interested in buying Achillion, Feuerstein noted. WHAT'S NOTABLE: Johnson & Johnson said it was "excited" that its acquisition of Alios would enable it to "explore treatment options for a number of viral infections, including RSV, the last of the major pediatric diseases with no available preventive therapy." Novavax (NVAX) is also developing an RSV vaccine and Johnson & Johnson could have considered acquiring it before buying Alios, Feuerstein contended. PRICE ACTION: Near noon, Achillion fell 6% to $10.11, Gilead was down 0.6% to $106.84, Novavax dropped 1% to $4.27, and Johnson & Johnson rose 0.4% to just under $107 per share.
10:30 EDTJNJJ&J could have considered Novavax, Achillion instead of Alios, TheStreet says
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08:31 EDTJNJJohnson & Johnson agrees to acquire Alios BioPharma for $1.75B
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08:16 EDTJNJTetraphase price target raised to $32 from $20 at JMP Securities
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07:30 EDTJNJSachs Associates to hold a conference
14th Annual Biotech in Europe Forum for Global Partnering and Investment to be held in Basel, Switzerland on September 30-October 1.
September 25, 2014
16:02 EDTPCYCPharmacyclics, Server agree to end pan-HDAC inhibitor collaboration
Pharmacyclics and Servier announced that they have mutually and amicably ended their collaboration pertaining to the ex-U.S. development of Pharmacyclics' pan-HDAC inhibitor compounds involving abexinostat, thereby returning global development and commercialization rights to Pharmacyclics. A provisional patent application for abexinostat tosylate was filed with the U.S. Patent and Trademark Office in 2013 and, if issued, would extend patent protection until 2034. Pharmacyclics will evaluate the full opportunity that the compound may afford, and plans to provide an update on this program in mid 2015.
September 24, 2014
17:59 EDTJNJOdds of Colgate-Palmolive takeover rise amid slew of megamergers, Bloomberg says
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September 23, 2014
08:07 EDTJNJFDA Pediatric Advisory Committee to hold a meeting
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September 22, 2014
07:50 EDTJNJDoctors continue to use morcellators despite FDA warning, J&J halt, WSJ says
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07:07 EDTJNJSynageva appoints Robert Bazemore as COO
Synageva announced the appointment of Robert Bazemore as Chief Operating Officer. Bazemore will oversee the planned global commercial launch of the company's lead program, sebelipase alfa for LAL Deficiency, and will have responsibility for the company's global commercial, market access and medical affairs operations. Bazemore last served at Johnson & Johnson (JNJ) in varoius roles including Vice President, Ethicon New Growth Platforms and President of Janssen Biotech, a part of the Janssen Pharmaceutical Companies of Johnson & Johnson.
September 17, 2014
08:36 EDTJNJJanssen-Cilag announces results from post-hoc canagliflozin analysis
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08:12 EDTJNJJanssen-Cilag announces results from Phase 3 Invokana trial
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