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Stock Market & Financial Investment News

News For PFE;ACT;JNJ;NVS;TEVA;MYL;GNK;BMY;GSK From The Last 14 Days
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November 25, 2014
10:00 EDTNVS, GSKOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3M Company (MMM) initiated with an Underperform at RBC Capital... Ametek (AME) initiated with an Outperform at RBC Capital... AstraZeneca (AZN) initiated with an Outperform at Exane BNP Paribas... Bayer (BAYRY) initiated with a Neutral at Exane BNP Paribas... Carlisle (CSL) initiated with a Sector Perform at RBC Capital... Colfax (CFX) initiated with a Sector Perform at RBC Capital... Dover (DOV) initiated with a Sector Perform at RBC Capital... Eaton (ETN) initiated with a Sector Perform at RBC Capital... Emerson (EMR) initiated with a Sector Perform at RBC Capital... Evercore Partners (EVR) initiated with an Outperform at Macquarie... Fifth Street Asset (FSAM) initiated with a Buy at MLV & Co.... Flowserve (FLS) initiated with an Underperform at RBC Capital... General Electric (GE) initiated with an Outperform at RBC Capital... GlaxoSmithKline (GSK) initiated with an Underperform at Exane BNP Paribas... Grainger (GWW) initiated with a Sector Perform at RBC Capital... Hanesbrands (HBI) initiated with a Buy at UBS... Hercules Technology (HTGC) initiated with a Neutral at Macquarie... HomeStreet (HMST) initiated with a Neutral at Macquarie... Honeywell (HON) initiated with an Outperform at RBC Capital... IDEX Corp. (IEX) initiated with an Outperform at RBC Capital... Illinois Tool Works (ITW) initiated with a Sector Perform at RBC Capital... Ingersoll-Rand (IR) initiated with a Sector Perform at RBC Capital... ManTech (MANT) initiated with a Buy at Maxim... Novartis (NVS) initiated with an Outperform at Exane BNP Paribas... Nu Skin (NUS) initiated with a Neutral at Citigroup... Oppenheimer Holdings (OPY) initiated with a Neutral at Macquarie... Pentair (PNR) initiated with an Outperform at RBC Capital... Raymond James (RJF) initiated with a Neutral at Macquarie... Roche (RHHBY) initiated with an Outperform at Exane BNP Paribas... Roper Industries (ROP) initiated with an Outperform at RBC Capital... SPX Corp. (SPW) initiated with a Sector Perform at RBC Capital... Sanofi (SNY) initiated with an Outperform at Exane BNP Paribas... Tyco (TYC) initiated with an Outperform at RBC Capital... United Technologies (UTX) initiated with an Outperform at RBC Capital... WESCO (WCC) initiated with an Outperform at RBC Capital... Xylem (XYL) initiated with a Sector Perform at RBC Capital.
07:50 EDTACTActavis sees expanding Allergan products in China, Bloomberg reports
Bloomberg, citing interviews with Actavis (ACT) CEO Brent Saunders and Allergan (AGN) CEO David Pyott, noted that the executives see an opportunity to use Actavis' scale to expand Allergan's products into China. Actavis' Saunders acknowledged there are overlaps in corporate functions that will mean some positions will be eliminated as the company combines with Allergan, though the number of cuts is still undetermined, according to Bloomberg, which noted that the company is still deciding which parts of Allergan's management team to bring into the new organization. Reference Link
07:33 EDTMYLMylan sued by Baxter in connection with ANDA for Esmolol HCl
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06:29 EDTNVSMallinckrodt says Questcor received subpoena from FTC in June
Mallinckrodt (MNK) disclosed in its quarterly regulatory filing that on June 11, Questcor received a subpoena and Civil Investigative Demand from the Federal Trade Commission seeking documentary materials and information regarding the FTC’s investigation into whether Questcor’s acquisition of certain rights to develop, market, manufacture, distribute, sell and commercialize Synacthen Depot from Novartis (NVS) violates the antitrust laws.
05:26 EDTGSKGlaxoSmithKline initiated with an Underperform at Exane BNP Paribas
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05:26 EDTNVSNovartis initiated with an Outperform at Exane BNP Paribas
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05:16 EDTNVSNovartis announces extension to FDA review period for MML compound LBH589
Novartis announced that the FDA has extended their priority review period by up to three months for the new drug application, or NDA, of LBH589 in combination with bortezomib and dexamethasone for patients with previously treated multiple myeloma. The NDA for LBH589 was submitted to the FDA in March. In May, the FDA granted priority review status to LBH589, reducing the standard 12-month review period to eight months. The extension to the LBH589 NDA review period follows an FDA Oncologic Drugs Advisory Committee meeting earlier this month.
November 24, 2014
11:25 EDTJNJStryker, Smith & Nephew rise after reports of renewed bid
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09:26 EDTJNJFDA updates warning on laparoscopic power morcellators to treat uterine fibroids
The FDA announced it is taking immediate steps to help reduce the risk of spreading unsuspected cancer in women being treated for uterine fibroids. In an updated safety communication, originally issued in April, the FDA warns against using laparoscopic power morcellators in the removal of the uterus or fibroids in the vast majority of women. In an Immediately in Effect guidance, the FDA is also recommending that manufacturers of laparoscopic power morcellators include in their product labeling specific safety statements in the form of a boxed warning and two contraindications. Johnson & Johnson (JNJ), the largest manufacturer of morcellators, stopped selling the gynecological surgical tool in April and in August told customers to return any devices in their inventory. Intuitive Surgical's (ISRG) da Vinci surgical system can be used with tissue morcellators in such surgical procedures.
09:00 EDTBMYBristol-Myers, Five Prime announce clinical collaboration for Opdivo, FPA008
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08:02 EDTNVSReceptos price target raised to $186 from $130 at Leerink
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07:46 EDTPFEPfizer seen set to move on from AstraZeneca as restrictions lift, Telegraph says
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07:31 EDTGSKMerck, NewLink Genetics enter into agreement for investigational Ebola vaccine
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06:32 EDTGSK, NVSGSK investors expected to vote on Novartis deal in December, Reuters reports
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05:13 EDTNVSNovartis drug Signifor approved in EU
Novartis announced that the European Commission has approved Signifor as a new long acting release formulation for once monthly intramuscular injection to treat adult patients with acromegaly for whom surgery is not an option or has not been curative and who are inadequately controlled on treatment with a first-generation somatostatin analogue, or SSA. Next-generation SSA Signifor offers the first alternative treatment option directly targeting the pituitary tumor for patients whose acromegaly remains inadequately controlled on currently available SSAs. Additional regulatory applications for the new long acting release formulation of Signifor have been filed worldwide for the treatment of acromegaly, including an application currently filed in the United States.
November 21, 2014
16:36 EDTACTMarket ends week higher as domestic data, foreign central banks boost shares
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08:34 EDTACTActavis price target raised to $310 from $285 at Argus
Argus increased its price target on Actavis (ACT) after the company agreed to buy Allergan (AGN). The firm thinks the deal will create a strong competitor in the pharmaceutical industry. It keeps a Buy rating on Actavis.
05:22 EDTNVSNovartis Cosentyx receives positive CHMP opinion
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November 20, 2014
10:28 EDTTEVASenate Health, Education, Labor & Pensions Committee to hold a hearing
The Subcommittee on Primary Health and Aging holds a hearing entitled, "Why Are Some Generic Drugs Skyrocketing In Price?" with President & CEO Vigodman of Teva Pharmaceutical and President & CEO Bedrosian of Lannett Company on November 20 at 1 pm. Webcast Link
07:42 EDTTEVAIntellipharmaceutics notes launch of 5mg strength Focalin XR by Teva
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07:22 EDTACTActavis price target raised to $323 from $291 at RBC Capital
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07:11 EDTACTBofA/Merrill to hold a conference
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November 19, 2014
10:14 EDTMYLMylan November calls active on takeover speculation
Mylan November 55 & 57.5 calls are active on total call volume of 7,100 contracts (200 puts) on takeover speculation. November call option implied volatility is at 36, December is at 34; compared to its 26-week average of 32 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
09:51 EDTMYLRumor: Mylan strength attributed to takeover speculation
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09:04 EDTJNJJohnson & Johnson submits NDA for three-month paliperidone palmitate
Janssen Research & Development, a Johnson & Johnson company, announced the submission of a New Drug Application, or NDA, for three-month atypical antipsychotic paliperidone palmitate to the FDA. The NDA seeks approval for the medication as a treatment for schizophrenia in adults. If approved, it will be the first and only long-acting atypical antipsychotic that has a four times a year dosing schedule.
07:52 EDTPFE, GSK, BMYInforma Business Information to hold a conference
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06:30 EDTJNJJohnson & Johnson, Boston Scientific trial set to start tomorrow, Reuters says
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06:07 EDTBMYBristol-Myers' Opdivo for melanoma shows positive Phase 3 results
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November 18, 2014
16:26 EDTACTOn The Fly: Closing Wrap
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13:34 EDTACTActavis rallies after analysts push targets north of $300
Shares of drug maker Actavis (ACT) are climbing after a number of analysts cheered the company's acquisition of Allergan (AGN), and activist investor Bill Ackman said he supported the transaction, according to CNBC. WHAT'S NEW: Piper Jaffray analyst David Amsellem responded to Actavis' acquisition of Allergan by hiking his price target on the name to $338 from $280. The combined company has durable assets, a cost-efficient infrastructure, and the willingness to maintain a strong R&D infrastructure, contended Amsellem. Actavis' price-to-earnings ratio is likely to increase, since it has durable assets, while it his very likely to sustain growth of at least 10%, the analyst added. He kept an Overweight rating on the shares. Also extremely upbeat on Actavis following the deal was UBS analyst Marc Goodman. Actavis provides "the best value in the sector" following the deal, as the transaction should accelerate the company's revenue and profit growth, Goodman believes. That growth, in turn, should propel Actavis' price-to-earnings multiple higher, the analyst predicted. He hiked his price target on Actavis to $333 from $278 and kept a Buy rating on the stock. Meanwhile, Pershing Square's Bill Ackman said that he supported Actavis' takeover of Allergan, CNBC reported this morning. The owner of a large stake in Allergan, Ackman had been trying to get the drug maker to sell itself to Valeant (VRX). The activist investor said today that he would no longer push Allergan to hold a special meeting on December 18, CNBC noted. PRICE ACTION: In mid-afternoon trading, Actavis surged 7.5% to $266.50, while Allergan gained 2% to $214.
11:22 EDTTEVATeva patent victory over Warner Chilcott, Roche affirmed
The U.S. Court of Appeals for the Federal Circuit ruled that a district court was correct to grant summary judgment to Teva (TEVA) in a patent dispute with Warner Chilcott and Roche (RHHBY) over patents related to osteoporosis drug risedronate.
10:26 EDTACTAckman to withdraw Allergan special meeting request, CNBC reports
Bill Ackman said he will withdraw his request for an Allergan (AGN) special meeting and that he supports the company's planned transaction with Actavis (ACT), according to CNBC's Scott Wapner. Reference Link
10:08 EDTTEVATeva calls active on renewed takeover chatter
Teva November 57 and 58 calls are active on total call volume of 21K contracts (2K puts) following renewed takeover chatter. November call option implied volatility is at 18, December is at 19; compared to its 26-week average of 24 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
09:47 EDTTEVARumor: Teva moves up on renewed takeover chatter
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08:59 EDTACTActavis deal positive, says Sterne Agee
Sterne Agee believes that the friendly nature of Actavis' (ACT) takeover of Allergan (AGN) will enable the combined companies to achieve greater revenue growth. The firm thinks the deal will enable the companies to integrate seamlessly, and it thinks that CEO Brent Saunders' experience at Forest and Bausch & Lomb will help him manage Allergan's leading ophthalmology franchises. Sterne keeps a Buy rating on Actavis.
08:33 EDTPFEPfizer announces availability of Trumenba vaccine
Pfizer announced hat TRUMENBA, the first and only FDA-approved vaccine for active immunization to prevent invasive disease caused by Neisseria meningitidis serogroup B in individuals 10 through 25 years of age, is now available for order by healthcare providers in the United States.
08:00 EDTTEVATeva launches liquid formulation of TREANDA injection in the U.S.
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07:48 EDTACTValeant not likely to raise bid for Allergan, says Canaccord
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07:41 EDTACTActavis provides best value in pharmaceutical sector, says UBS
UBS believes Actavis (ACT) provides the best value in the pharmaceutical sector following its deal to acquire Allergan (AGN). The firm pointed to the double digit accretion to earnings, synergies, and very attractive current valuation. UBS reiterated its Buy rating on Acatvis and raised its price target to $333 from $278.
07:29 EDTPFEPfizer less likely to pursue AstraZeneca after PD-L1 deal, says JPMorgan
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07:20 EDTGSKEuro Organization for Research & Treatment of Cancer co-hosts a symposium
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07:18 EDTPFEWoodford confident in Astra, sees 50% chance of new Pfizer bid, Reuters reports
Investment manager Neil Woodford of Woodford Investment Management said he now has an even stronger belief in AstraZeneca (AZN), citing the company's strong product pipeline, and put the chances of a new takeover bid from Pfizer (PFE) at 50/50, reported Reuters, citing a statement from Woodford. Reference Link
06:40 EDTACTActavis price target raised to $338 from $280 at Piper Jaffray
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06:39 EDTPFEAstraZeneca: 'Hard to comment' on whether Pfizer will come back, Reuters reports
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06:18 EDTACTActavis price target raised to $310 from $290 at Leerink
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06:15 EDTACTActavis price target raised to $310 from $250 at Citigroup
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November 17, 2014
17:02 EDTGSKClovis in oncology clinical trial collaboration with GlaxoSmithKline
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16:52 EDTNVSNovartis' LCZ696 could change course of heart failure for patients, study shows
New data on Novartis' investigational medicine, LCZ696, for patients with heart failure with reduced ejection fraction shows it has the potential to change the course of the disease for patients. In August, Novartis presented topline results from the landmark PARADIGM-HF study showing LCZ696 was superior to ACE inhibitor enalapril on key endpoints, including significantly reducing the risk of CV death or heart failure hospitalization. The new analyses being presented for the first time at the American Heart Association Scientific Sessions 2014, with a paper being simultaneously published in Circulation, show that versus enalapril, LCZ696 significantly: reduced the risk of dying suddenly by 20% in HFrEF patients 45% of CV deaths and 36% of all cause deaths are sudden; reduced first and subsequent HFrEF hospitalizations by 21% and 23% respectively; reduced hospitalizations for a cardiovascular reason or for any reason both by 16%; reduced the need for more intense treatment at home by 16%; reduced emergency room visits because of rapid symptom worsening by 30%.
16:24 EDTACTOn The Fly: Closing Wrap
Stocks on Wall Street were quiet and traded in a fairly narrow range for their sixth straight session, despite a "merger Monday" that saw over $100B in deals announced. The Dow and S&P, which began the week near record levels, passed back and forth across the flat line several times during the day, though the Nasdaq weakened early in the session and never really recovered. ECONOMIC EVENTS: In the U.S., industrial production fell 0.1% in October, missing expectations for it to have risen 0.2% from the prior month. October capacity utilization came in at 78.9%, which fell short of the expected 79.3% rate. The Empire State manufacturing index, which reflects manufacturing activity in the New York region, rose 4 points to 10.2 in November, which was generally in-line with the consensus forecast. In Asia, Japan's GDP unexpectedly shrank an annualized 1.6% last quarter, missing projections for a 2.2% gain and sinking its economy into a recession. COMPANY NEWS: Actavis (ACT) gained $4.17, or 1.71%, to $247.94 after confirming that it agreed to acquire Allergan (AGN) for a combination of $129.22 in cash and 0.3683 Actavis shares valued at approximately $66B, or $219 per Allergan share. Valeant Pharmaceuticals (VRX), which had been in a contentious fight to buy Allergan, commented that it "cannot justify to its own shareholders" paying a price of $219 or more per share for the Botox maker, whose stock rose $10.55, or 5.31%, to $209.20... Halliburton (HAL), conversely, fell $5.85, or 10.62%, to $49.23 after it agreed to acquire Baker Hughes (BHI) in a stock and cash transaction valued at $78.62 per Baker Hughes share, representing an enterprise value of $38B. When the deal talks were first reported by The Wall Street Journal last week, antitrust concerns were highlighted by analysts, but Halliburton said it had agreed to divest businesses that generate up to $7.5B in revenues, if required by regulators, and agreed to pay a fee of $3.5B if the transaction terminates due to a failure to obtain required approvals. Baker Hughes rose $5.34, or 8.92%, to $65.23 after the deal was announced. MAJOR MOVERS: Among the notable gainers was Celldex Therapeutics (CLDX), which advanced $4.09, or 28.88%, to $18.25 after the company reported it saw a statistically significant overall survival benefit, along with an increase in clinically meaningful tumor shrinkage, in a sub-group of its study of a drug to treat a specific type of brain tumor. Also higher was Amicus Therapeutics (FOLD), which rose $1.01, or 17.75%, to $6.70 after the company announced additional data on secondary endpoints from its second Phase 3 study of its treatment for Fabry disease. Among the noteworthy losers was William Lyon Homes (WLH), which fell $3.52, or 15.53%, to $19.14 after the company announced that it intends to offer, subject to market and other conditions, 1M tangible equity units, which will consist of a prepaid stock purchase contract and an amortizing note. Also lower were shares of DreamWorks (DWA), which dropped $3.71, or 14.26%, to $22.31 after multiple media outlets reported that talks about a takeover of the company by Hasbro (HAS) had ended. INDEXES: The Dow gained 13.01, or 0.07%, to 17,647.75, the Nasdaq lost 17.54, or 0.37%, to 4,671.00, and the S&P 500 added 1.50, or 0.07%, to 2,041.32.
15:40 EDTACTActavis price target raised to $286 from $227 at BMO Capital
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14:27 EDTPFEPfizer volatility flat into investor meeting
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12:27 EDTACTOn The Fly: Midday Wrap
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12:12 EDTACTActavis, Allergan deal 'great' for both companies, says BMO Capital
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11:14 EDTACTActavis says 2017 EPS goal of $25 does not include 'transformational' M&A
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11:06 EDTBMY, NVSLeerink biotech analysts hold an analyst/industry conference call
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09:42 EDTPFEPfizer to host investor day
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09:39 EDTACTActavis CEO says 'aspirational goal' is to grow EPS to $25 by 2017
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09:34 EDTACTCombined Actavis-Allergan to be led by Actavis CEO Saunders
Actavis (ACT) and Allergan (AGN) said The combined company will be led by Brent Saunders, CEO and President of Actavis, and Paul Bisaro will remain Executive Chairman of the Board. The integration of the two companies will be led by the senior management teams of both companies, with integration planning to begin immediately in order to transition rapidly to a single company. Additionally, two members of the Allergan board of directors will be invited to join the Actavis Board of Directors following the completion of the transaction.
09:32 EDTACTValeant says cannot justify paying $219 per share for Allergan
Valeant Pharmaceuticals (VRX) commented on the announcement that Allergan (AGN) and Actavis (ACT) have entered into a definitive agreement under which Actavis will acquire all outstanding shares of Allergan stock: "We have seen the announcement that Allergan and Actavis have made, and while we will review any such agreement in determining our course of action, Valeant cannot justify to its own shareholders paying a price of $219 or more per share for Allergan. Our business is performing extremely well as evidenced by our third quarter results, our expected strong fourth quarter, and our robust outlook for 2015, and I am confident in our continued ability to generate exceptional shareholder value. We will remain focused on delivering strong organic results and evaluating acquisition opportunities as we always have: prudently, in a disciplined manner, and in the best interests of our shareholders."
09:29 EDTACTActavis to host conference call
Conference call to discuss the acquisition of Allergan will be held on November 17 at 10:30 am. Webcast Link
09:24 EDTACTAllergan up over 5% to $209 after agreeing to be acquired by Actavis
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09:22 EDTPFE, ACTOn The Fly: Pre-market Movers
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09:21 EDTACTActavis, Allergan transaction subject to approval of shareholders of both
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09:20 EDTACTActavis projects at least $1.8B in annual synergies from Allergan transaction
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09:18 EDTACTActavis sees free cash flow over $8B in 2016 following Allergan acquisition
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09:16 EDTACTActavis confirms deal to acquire Allergan for $219 in cash, stock
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09:15 EDTACTActavis confirms deal to acquire Allergan for $219 in cash and shares
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09:10 EDTACTActavis buying Allergan for $219 per share, CNBC reports
08:13 EDTBMY, PFEPortola, Bristol-Myers, Pfizer announce results from Phase 3 ANNEXA-A studies
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08:10 EDTBMYBristol-Myers presents results from Phase IIIb AVERT trial at ACR
Bristol-Myers Squibb Company announced results of several new sub-analyses of the Phase IIIb AVERT trial that investigated the use of Orencia plus methotrexate in biologic and MTX-naïve citrullinated protein-positive early moderate to severe rheumatoid arthritis patients. These data were presented this week at the American College of Rheumatology 2014 annual meeting. Orencia is currently indicated in adults for moderate to severe RA. Orencia should not be administered with tumor necrosis factor antagonists and should not be used with other biologic RA drugs. One of the analyses looked at anti-CCP antibodies, which are a marker of RA and may contribute to disease progression. The analysis assessed the development of anti-CCP antibodies in patients with early rapidly progressing RA by measuring isotypes and the number of epitopes recognized after treatment with Orencia plus MTX, Orencia alone, or MTX alone. Results demonstrated Orencia plus MTX numerically reduced the concentrations of all CCP isotypes and the average number of epitopes recognized over one year of treatment more than Orencia alone or MTX alone. Over 12 months of treatment, 6.7 percent, 12.1 percent, and 7.8 percent of patients on Orencia plus MTX, Orencia alone, and MTX alone, respectively, experienced a serious adverse event and 1.7 percent, 4.3 percent and 2.6 percent led to discontinuation. Serious infections were observed in 0.8 percent of patients in the combination arm and 3.4 percent in the Orencia monotherapy arm. None of the patients in the MTX alone arm experienced a serious infection. Malignancies were reported in 0.8 percent, 1.7 percent, and 0 percent of patients in the Orencia + MTX, Orencia, and MTX arms, respectively. Additionally at ACR, investigators presented 12-month efficacy data from AVERT, including new results assessing the effect of Orencia on more clinically stringent remission criteria than DAS-defined remission, as well as new MRI data. Significantly more patients on Orencia plus MTX achieved the stringent clinical endpoint of Boolean-defined remission at 12 months.
08:02 EDTACTActavis completes Durata Therapeutics tender offer
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07:16 EDTPFE, JNJMilken Institute--Faster Cures to hold a conference
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06:43 EDTPFEAstraZeneca, Pfizer deal seen less likely after Merck transaction, Reuters says
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06:05 EDTACTActavis close to buying Allergan for over $64B, Bloomberg reports
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05:32 EDTGSKMedidata announces collaboration with GlaxoSmithKline
Medidata (MDSO) announced the completion of a method development project conducted in partnership with GlaxoSmithKline (GSK) to evaluate the impact of unifying mobile health, or mHealth, devices with cloud-based technologies in a clinical trial setting. The joint initiative assessed the capabilities of mHealth tools and evaluated how they could be used to enable a new model for clinical trial conduct that aligns site and patient needs with faster study execution and reduced costs. The collaborative project, which took place at GSK’s Human Performance Lab, demonstrated that mHealth technologies have the power to comprehensively collect large volumes of objective data that is reliable, secure and analysis-ready, and provides real-time, continuous insight into the well being of patients. All of the data collected was audited and is compliant with FDA regulations. Additionally, the effort indicated that mobile devices can support the long-term goal of lessening the burden on patients participating in studies by streamlining routine procedures, eliminating unnecessary ones and reducing visits to clinical trial sites.
05:27 EDTPFEPfizer lowers FY14 Reported EPS view to $1.40-$1.49 from $1.50-$1.59
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05:23 EDTPFEPfizer forms strategic alliance with Merck KGaA
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November 16, 2014
15:07 EDTNVSNovartis says arthritis drug secukinumab met primary endpoint
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14:02 EDTACTAllergan, Actavis move closer to deal, WSJ reports
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13:07 EDTBMYBristol-Myers announces results from CheckMate -066 study
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November 14, 2014
16:58 EDTACTThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
16:21 EDTJNJOn The Fly: Closing Wrap
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14:53 EDTJNJ, NVS, GSK, PFE, BMYCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
12:53 EDTACTOmega Advisors gives quarterly update on stakes
NEW STAKES: AerCap Holdings (AER), Nordic American Offshore (NAO), Melco Crown Entertainment (MPEL), Groupon (GRPN), and Ashland (ASH). INCREASED STAKES: QEP Resources (QEP), United Continental (UAL), Cabot Oil & Gas (COG), Actavis (ACT), and KAR Auction Services (KAR). DECREASED STAKES: Sprint (S), SandRidge Energy (SD), Sirius XM Holdings (SIRI), Kinder Morgan (KMI), and Transocean (RIG). LIQUIDATED STAKES: QUALCOMM (QCOM), Ocwen Financial (OCN), Freeport-McMoRan (FCX), Boston Scientific (BSX), and Capital One (COF).
07:32 EDTACTHayman Capital gives quarterly update on stakes
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07:14 EDTPFE, BMY, NVS, GSKAmerican College of Rheumatology is holding a meeting
2014 ACR/ARHP Annual Meeting is being held in Boston on November 14-19.
06:05 EDTBMYBristol-Myers to construct biologics manufacturing facility in Ireland
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November 13, 2014
16:28 EDTJNJGeron announces global strategic collaboration with Janssen Biotech
Geron (GERN) announced that the company has entered into an exclusive worldwide license and collaboration agreement with Janssen Biotech, a Johnson & Johnson (JNJ) company, to develop and commercialize, imetelstat, Geron's telomerase inhibitor product candidate, for oncology, including hematologic malignancies, and other human therapeutics uses. Imetelstat is a modified oligonucleotide that is currently in early phase clinical development for myelofibrosis, or MF, and may have activity in other hematologic myeloid malignancies such as myelodysplastic syndrome, or MDS, and acute myelogenous leukemia, or AML. Under the terms of the agreement, Geron will receive an initial payment of $35M due after the applicable waiting periods under the Hart-Scott Rodino Act and is eligible to receive additional payments up to a potential total of $900M for the achievement of development, regulatory and commercial milestones, as well as royalties on worldwide net sales. Certain regulatory, development, manufacturing and promotional activities will be managed through a joint governance structure, with Janssen responsible for operational implementation of these activities. All sales will be booked by Janssen.
13:32 EDTNVS, BMYLeerink biotech analysts hold an analyst/industry conference call
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13:29 EDTBMY, NVSLeerink biotech analysts hold an analyst/industry conference call
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13:26 EDTNVS, BMYLeerink biotech analysts hold an analyst/industry conference call
Biotech Analysts provide a preview of items being discussed at the upcoming 56th Annual Meeting of ASH including Leukemia/MDS on an Analyst/Industry conference call to be held on November 20 at 10 am.
12:59 EDTGSKApollo plans bid for GSK mature drugs business, Reuters reports
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11:54 EDTJNJJanssen announces FDA approved sNDA for INVEGA SUSTENNA
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10:44 EDTJNJ, ACTMallinckrodt news on generic Concerta positive for Actavis, says BMO Capital
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10:01 EDTBMYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ATK (ATK) downgraded to Hold from Buy at Argus... Adeptus Health (ADPT) downgraded to Hold from Buy at Deutsche Bank... American Woodmark (AMWD) downgraded to Neutral from Buy at Longbow... Avnet (AVT) downgraded to Sell from Neutral at Goldman... Baxano Surgical (BAXS) downgraded to Sell from Buy at Summer Street... Beazer Homes (BZH) downgraded to Neutral from Overweight at JPMorgan... Bristol-Myers (BMY) downgraded to Equal Weight from Overweight at Morgan Stanley... Centene (CNC) downgraded to Market Perform from Outperform at FBR Capital... Cherry Hill Mortgage (CHMI) downgraded to Equal Weight from Overweight at Barclays... Discover (DFS) downgraded to Hold from Buy at Deutsche Bank... Fleetmatics (FLTX) downgraded to Neutral from Buy at BofA/Merrill... Gazprom (OGZPY) downgraded to Neutral from Overweight at JPMorgan... Jabil Circuit (JBL) downgraded to Neutral from Buy at Goldman... LabCorp (LH) downgraded to Hold from Buy at Deutsche Bank... Laredo Petroleum (LPI) downgraded at BMO Capital... Macy's (M) downgraded to Market Perform from Outperform at Wells Fargo... Madison Square Garden (MSG) downgraded to Equal Weight from Overweight at Morgan Stanley... Marvell (MRVL) downgraded to Sell from Neutral at Goldman... Meritor (MTOR) downgraded to Neutral from Overweight at Piper Jaffray... Swedbank (SWDBY) downgraded to Underperform from Sector Perform at RBC Capital... TransGlobe (TGA) downgraded to Sector Perform from Outperform at Scotia Capital... UIL Holdings (UIL) downgraded to Hold from Buy at Argus... Verint Systems (VRNT) downgraded to Fair Value from Buy at CRT Capital... ZAIS Financial (ZFC) downgraded to Equal Weight from Overweight at Barclays.
08:15 EDTACTActavis' sNDA for bipolar disorder candidate Saphris accepted by FDA
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07:38 EDTMYL, PFEBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
07:23 EDTACTValeant wooing doctors ahead of hoped for Allergan acquisition, WSJ says
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06:09 EDTBMYBristol-Myers' oral daclatasvir regimen shows high cure rates for hepatitis C
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06:05 EDTBMYBristol-Myers' daclatasvir reports high cure rates for genotype 3 hepatitis C
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04:23 EDTBMYBristol-Myers downgraded to Equal Weight from Overweight at Morgan Stanley
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November 12, 2014
11:17 EDTNVS, BMY, PFELeerink major pharma & biotech analysts hold analyst/industry conference call
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10:09 EDTACTActavis in talks to buy Allergan for over $200 per share, Bloomberg says
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10:01 EDTACTActavis in talks to buy Allergan for $60B, more than $200/share Bloomberg says
Actavis (ACT) is said to seek to pay about $200 per share, but Allergan (AGN) seeks about $210 per share, according to Bloomberg.
09:16 EDTGSKLigand reports GlaxoSmithKline EU regulatory submission for Revolade
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08:53 EDTGSKGlaxoSmithKline weakness creates buying opportunity, says Argus
After GlaxoSmithKline cut its near-term EPS guidance, Argus still believes that the company's deals with Novartis (NVS) should boost its EPS growth in the years ahead, likely as soon as 2015. The firm thinks the stock is a good value for long-term investors, and it keeps a Buy rating on the shares.
08:18 EDTGSK, NVSUBS to hold a conference
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08:13 EDTPFEBoston Biotech to hold a conference
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08:02 EDTPFECredit Suisse to hold a conference
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07:58 EDTNVSGenVec expects 2014 cash burn between $6M-$7M from Novartis collaboration
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November 11, 2014
16:14 EDTNVS, BMYLeerink biotech analysts hold an analyst/industry conference call
Biotech Analysts provide a preview of items being discussed at the upcoming 56th Annual Meeting of ASH including JAK inhibitors, novel Jakafi combinations for Myelofibrosis and developing compounds on an Analyst/Industry conference call to be held on November 17 at 10 am.
16:01 EDTNVSQIAGEN enters master collaboration agreement with Novartis
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15:43 EDTPFE, NVS, BMYLeerink major pharma & biotech analysts hold analyst/industry conference call
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08:32 EDTACTValeant likely to raise offer for Allergan again, says Bernstein
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