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Stock Market & Financial Investment News

News Breaks
March 26, 2013
06:32 EDTGNK, NVS, PFE, GSK, MYL, JNJ, BMY, TEVA, ACTSome justices seem skeptical about payments to generic drug firms, NY Times says
Several Supreme Court justices seemed skeptical about the practice of brand name pharmaceutical companies paying generic companies to keep their cheaper drugs off the market for a longer time, according to The New York Times. Some of the justices appeared to be interested in issuing a narrow ruling in the case they are hearing regarding the issue that would not create a precedent, the newspaper added. Reference Link
News For PFE;ACT;JNJ;NVS;TEVA;MYL;GNK;BMY;GSK From The Last 14 Days
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March 26, 2015
07:30 EDTBMY, PFE, TEVA, ACTDeutsche Bank to hold a conference
Pharma One-on-One Day is being held in Denver, Colorado on March 26.
March 25, 2015
07:29 EDTJNJLeerink to hold booth tours
Leerink Booth Tours at AAOS 2015 will be held in Las Vegas on March 25-26.
March 24, 2015
13:24 EDTJNJContact lens manufacturers accused of price-fixing, Bloomberg says
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11:05 EDTNVSNovartis granted orphan status for medulloblastoma treatment
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08:02 EDTBMYBristol-Myers acquires exclusive license from Novo Nordisk for research program
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07:45 EDTPFE, TEVA, GSK, JNJFDA Pediatric Advisory Committee holds a meeting
The Committee discusses pediatric-focused safety reviews, as mandated by the FDA Safety and Innovation Act (FDASIA) for Eli Lilly's Cymbalta, Pfizer's Quillivant XR and Revatio, Johnson & Johnson's Risperdal, GlaxoSmithKline's Advair, HFA Altabax Ointment and Fluarix Quadrivalent, Supernus Pharmaceuticals' Oxtellar XR, Teva Pharmaceutical's Qnasl and Roche's Invirase. The Committee will also discuss the safety ongoing propriety of the humanitarian device exemption for the Medtronic Activa Dystonia Therapy and for the Liposorber LA-15 System in a meeting being held in Silver Spring, Maryland on March 24 at 8 am. Webcast Link
06:22 EDTTEVATeva appointment shows transformative M&A not off table, says Citigroup
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March 23, 2015
16:14 EDTACTPershing Square liquidates stake in Allergan
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16:01 EDTTEVAOptions Update; March 23, 2015
iPath S&P 500 VIX Short-Term Futures down 48c to 25.24 Option volume leaders: AAPL TSLA TWTR GILD CELG FB TSLA AMZN TEVA PBR according to Track Data.
12:10 EDTTEVATeva migraine drug data positive for Amgen, says Piper Jaffray
Piper Jaffray said the "positive" trial data Teva (TEVA) reported for its anti-CGRP antibody in migraines is another important validation for the class of drugs that is also being worked on by Amgen (AMGN), Eli Lilly (LLY) and Alder Biopharmaceuticals (ALDR). The firm said it thinks Amgen is one of the leaders in CGRP antibody space and reiterated its Overweight rating and $187 price target on Amgen shares.
11:09 EDTPFEPfizer hits best level in over decade after Jefferies adds to list of best ideas
The shares of Pfizer (PFE) are rising after an analyst wrote that the company's shares are poised to rise significantly over the next one to two years. Additionally, the company announced that it would resume developing its painkiller, tanezumab, in partnership with Eli Lilly (LLY). ANALYST OUTLOOK: Pfizer's breast cancer drug for postmenopausal women, Ibrance, has had one of the best launches of any oncology drug ever, Jefferies analyst Jeffrey Holdford wrote in a note to investors today. A survey of U.S. oncologists conducted by the firm shows that the doctors expect the drug to be used on about 50% of patients needing first line hormonal therapy within one year, while the drug will be used as an off-label treatment in all lines of therapy, the analyst wrote. The drug will generate revenue of $5.5B in 2020, versus the consensus outlook of $3.3B, Holford estimated. Meanwhile, the drug maker's Global Established Pharmaceutical, or GEP, business' revenue and profits should top consensus estimates by14% by 2018, according to the analyst. Pfizer could generate value through accretive M&A activity and by separating the GEP unit by 2017, Holdford stated. He raised his price target on the name to $45 from $42, kept a buy rating on the shares, and added the stock to the firm's Franchise Picks list, which encompasses its best ideas. WHAT'S NOTABLE: Pfizer announced that, in partnership with Eli Lilly, it would resume its Phase 3 clinical program for tanezumab. The announcement was made after the FDA removed a partial clinical hold on the drug, Pfizer noted. As a result of its decision, Pfizer expects to receive a $200M payment, in accordance with the companies' agreement, Pfizer stated. PRICE ACTION: In mid-morning trading, Pfizer climbed 2.4% to $35.08. The stock has not traded at a price per share this high since 2004.
11:01 EDTPFEPfizer rallies to fresh 52-week high, levels to watch
Shares are up over 2.8% at time of writing to $35.14, just below the new 52-week high at $35.26 which is now initial resistance. Next resistance above is at $35.89 and then at $36.63. Support is at $34.89.
09:45 EDTNVS, GSKUBS to hold a field trip
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09:37 EDTPFEActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AUY SLB PFE MCP CELG VRTX SHPG GILD LOGI TSLA TASR NFLX SCTY WFM
09:03 EDTNVS, JNJLeerink analysts hold a meeting with a conference call hookup
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08:50 EDTTEVATeva reports TEV-48125 met endpoints in phase 2b study
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08:06 EDTPFEPfizer, Eli Lilly to resume Phase 3 chronic pain program for Tanezumab
Pfizer (PFE) and Eli Lilly and Company (LLY) announced that they are preparing to resume the Phase 3 clinical program for tanezumab. As a result, Pfizer expects to receive a $200M upfront payment from Lilly in accordance with their collaboration agreement. This announcement follows a decision by the U.S. FDA to lift the partial clinical hold on the tanezumab development program after a review of a robust body of nonclinical data characterizing the sympathetic nervous system response to tanezumab. The data were submitted to the FDA in February. In the prior clinical studies of more than 11,000 patients, tanezumab demonstrated clinically meaningful efficacy vs. placebo and other select commonly used pain medicines. A partial clinical hold has been in place for tanezumab and all other anti-nerve growth factor antibodies since December 2012 due to adverse changes in the sympathetic nervous system of mature animals. Studies in terminal cancer pain were allowed to proceed.
08:05 EDTPFEPfizer, Eli Lilly to resume Phase 3 chronic pain program for Tanezumab
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07:36 EDTGSK, ACT, PFEPfizer should rise 'significantly' over next two years, says Jefferies
Jefferies analyst Jeffrey Holford told investors this morning that he expects shares of Pfizer (PFE) to appreciate "significantly" over the next two years. A survey of U.S. oncologists indicated the company's Ibrance drug will be used in 50% of first line hormonal therapy within one year, with off-label use in all lines of therapy including adjuvant, Holford noted. He thinks peak sales of the drug could top $13B, which is well above consensus. In addition, the analyst views Pfizer's Global Established Pharmaceutical business as being underappreciated by the market. Potential value creating options for the pharmaceutical giant include spinning off its GEP unit by 2017 and accretive acquisitions, with possible takeover targets being Shire (SHPG), Actavis (ACT), AstraZeneca (AZN) and GlaxoSmithKline (GSK), in the eyes of Holford. He added the stock to the firm's Franchise Picks list, which encompasses its best ideas. He also raised his price target for Pfizer to $45 from $42. The stock closed Friday up 10c to $34.25.
07:17 EDTACTAmerican Academy of Dermatology to hold annual meeting
73rd Annual Meeting of AAD is being held in San Francisco on March 20-24.
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