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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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April 14, 2015
08:57 EDTJNJJohnson & Johnson backs FY15 sales $75B-$76B
Including foreign exchange, sees reported sales $70B-$71B. Consensus is $71.16B. Backs FY15 net interest expense $450M-$550M. Raises FY15 net other income expense to $2B-$2.1B from $1.5B-$1.6B. Expects R&D tax credit will be renewed by Congress. Raises FY15 effective tax rate to 21%-22% from 20%-21%. If the tax credit is not approved, it will negatively impact the tax rate by 0.5%. Comments taken from Q1 earnings conference call.
07:50 EDTJNJJohnson & Johnson reports Q1 Worldwide Consumer sales $3.4B
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07:48 EDTJNJJohnson & Johnson cuts FY15 adjusted EPS to $6.04-$6.19 from $6.12-$6.27
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07:46 EDTJNJJohnson & Johnson reports Q1 domestic sales up 5.9% to $8.69B
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07:45 EDTJNJJohnson & Johnson reports Q1 adjusted EPS $1.56, consensus $1.54
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April 13, 2015
17:10 EDTJNJIBM establishes a Watson Health Cloud
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16:21 EDTJNJOn The Fly: Top stock stories for Monday
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15:38 EDTJNJNotable companies reporting before tomorrow's open
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15:08 EDTJNJJohnson & Johnson April 100 straddle priced for 2.2% movement into Q1
14:07 EDTJNJ, PCYCEarnings Watch: Johnson & Johnson shares down slightly since last earnings
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13:28 EDTJNJJohnson & Johnson April volatility elevated into Q1 and outlook
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11:12 EDTJNJJohnson & Johnson technical notes before earnings
Leading up to earnings, the shares have been trading in a narrow range largely bound by $98 at the low and $103 at the high. This trading range was preceded by a decline from the 52-week high set back in the fall of 2014. In a longer time frame, the current trading action is part of a larger potential topping process, with $95 as the midpoint. On worse than expected news, the low bound at $98 would be first important support. A breakdown below $98 would see next support at $95. A move below $95 would confirm the topping process and break the long-term uptrend. Support below $95 would be at $93.94. If results and outlook are better than expected, first resistance would be at the top of the range at $103. Next resistance would then be at $105.36. A move above that level would see $107.10, and then 52-week high and life high at $109.49 as next potential upside objectives.
April 10, 2015
14:39 EDTJNJJohnson & Johnson April volatility elevated into Q1 and outlook
Johnson & Johnson April call option implied volatility is at 20, May is at 16, June is at 15, October is at 14; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 14.
April 9, 2015
09:25 EDTJNJPiper Jaffray pharmaceuticals analysts hold an analyst/industry conference call
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09:10 EDTPCYCPharmacyclics' Imbruvica shows positive Phase II data
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April 8, 2015
09:23 EDTJNJJohnson & Johnson April volatility elevated into Q1 and outlook
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07:24 EDTJNJNeurotechnology Industry Organization to hold a conference
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April 6, 2015
14:34 EDTJNJDepomed price target raised to $30 from $27 at Roth Capital
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09:36 EDTJNJActive equity options trading on open
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06:21 EDTJNJJohnson & Johnson CEO comments on Asia expansion, WSJ reports
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