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March 10, 2014
04:55 EDTPFE, PFE, PFE, DNA, DNA, DNA, DRTX, DRTX, DRTX, ACRX, ACRX, ACRX, CEMP, CEMP, CEMP, CUR, CUR, CUR, MRNA, MRNA, MRNA, NVO, NVO, NVO, MRK, MRK, MRK, ABBV, ABBV, ABBV, AZN, AZN, AZN, AMGN, AMGN, AMGN, RHHBY, RHHBY, RHHBYEBD Group to hold a conference
BIO-Europe Spring 2014 is being held in Turin, Italy on March 10-12.
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September 3, 2014
13:02 EDTABBVAbbVie, Calico announce collaboration
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12:33 EDTRHHBY, ABBVOn The Fly: Midday Wrap
Stocks on Wall Street were higher to begin the day, as reports spurred optimism that a ceasefire agreement between Russia and the Ukraine may soon be reached. The move was short lived, as the averages turned mixed during the second hour of trading. Shares of Apple (AAPL) are weighing down the Nasdaq after an analyst recommended investors take some profits in the stock. ECONOMIC EVENTS: In the U.S., factory orders rose 10.5% in July, which was a bit below the forecast for 11.0% growth. The Fed's Beige Book is scheduled to be released at 2:00 pm ET. In Europe, the final reading of Eurozone services PMI was knocked down to 53.1 from a preliminary 53.5 reading, mirroring the lowering of the Eurozone manufacturing PMI reading yesterday. COMPANY NEWS: Shares of Apple retreated 4% after research firm Pacific Crest advised investors to take some profits in the stock. Pacific Crest analyst Andy Hargreaves forecast the percentage of new iPhone users who buy the next version of the device beyond the iPhone 6 is likely to decline versus prior cycles. The stock likely has only limited room to increase, according to Hargreaves, who said he would probably downgrade Apple unless new products that can generate billions of dollars in new operating profit are launched at its September 9 event... Carmakers reported on August vehicle sales in the U.S., with Chrysler (FIATY) reporting a 20% increase, Ford stating that sales rose slightly compared to the prior year and General Motors (GM) posting a 1.2% decline in sales. MAJOR MOVERS: Among the notable gainers was Infinity Pharmaceuticals (INFI), which jumped 46% after the company announced a cancer drug collaboration with AbbVie (ABBV) and a master clinical supply agreement with Roche (RHHBY). Also higher was Mobileye (MBLY), which gained nearly 10% after Morgan Stanley wrote that the stock could rise "towards $100" if the company maintains its current market, gross margins and earnings position. Mobileye is scheduled to report on its second quarter results tomorrow morning, which will be its first quarterly report since its August IPO. Among the noteworthy losers was Repros Therapeutics (RPRX), which dropped 15% after newly posted FDA briefing documents regarding a panel on T-normalizing therapies prompted Piper Jaffray to downgrade the stock to Neutral from Overweight. Also lower following its earnings report was apparel company Vince Holding (VNCE), which fell 11%. INDEXES: Near midday, the Dow was up 33.71, or 0.2%, to 17,101.27, the Nasdaq was down 23.24, or 0.51%, to 4,574.95, and the S&P 500 was down 0.64, or 0.03%, to 2,001.64.
11:30 EDTPFEPfizer has conference call hosted by Bernstein
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09:15 EDTABBVOn The Fly: Pre-market Movers
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07:59 EDTABBVInfinity Pharmaceuticals to host conference call
Conference call to discuss the strategic collaboration with AbbVie Inc to develop and commercialize duvelisib will be held on September 3 at 8:30 am. Webcast Link
06:48 EDTABBVInfinity, AbbVie announce global strategic collaboration to develop duvelisib
Infinity Pharmaceuticals (INFI) and AbbVie (ABBV) announced that they have entered into a global collaboration to develop and commercialize duvelisib, Infinity’s oral inhibitor of phosphoinositide-3-kinase-delta and PI3K-gamma, for the treatment of patients with cancer. Duvelisib has shown clinical activity across a broad range of blood cancers, including indolent non-Hodgkin lymphoma and chronic lymphocytic leukemia. Infinity is conducting registration-focused trials evaluating the safety and efficacy of duvelisib, including DYNAMOTM, a Phase 2 study in patients with iNHL, and DUOTM, a Phase 3 study in patients with CLL. Under the terms of the agreement, Infinity will receive an upfront payment of $275M and is eligible to receive up to $530M in additional payments for the achievement of development, regulatory and commercial milestones, including up to $405M for the achievement of milestones through the first commercial sale of duvelisib. In the U.S., the companies will jointly commercialize duvelisib and will share equally in any potential profits. Outside the U.S., AbbVie will be responsible for the conduct and funding of commercialization of duvelisib, and Infinity is eligible to receive tiered double-digit royalties on net product sales. Development and commercialization activities under the collaboration will be managed through a shared governance structure. In the U.S., Infinity and AbbVie will jointly commercialize duvelisib, assuming regulatory approval, with Infinity booking sales, and will share equally in any potential profits or losses. Outside the U.S., AbbVie will be responsible for conducting and funding of any commercialization of duvelisib, and Infinity is eligible to receive tiered royalties on net product sales, with percentages ranging from 23.5%-30.5%. For sales of duvelisib in the U.S., AbbVie and Infinity will share equally the existing royalty obligations to Mundipharma International Corporation Limited/Purdue Pharmaceutical Products L.P., and Infinity will be responsible for these royalty obligations outside of the U.S. Infinity will also be responsible for the existing royalty obligations to Millennium: The Takeda Oncology Company for sales of duvelisib worldwide. As part of the strategic collaboration, the companies will share responsibility for the conduct of specific trials specified within an agreed-upon global development plan, with each company leading the development of certain trials within the plan. For the initial global development plan agreed to by the companies, Infinity will fund the trials it conducts and the companies will share equally the funding of trials conducted by AbbVie. The agreement includes plans to launch multiple Phase 2 and Phase 3 studies of duvelisib in hematologic malignancies over the next several years.
06:48 EDTABBVInfinity Pharmaceuticals, AbbVie announce global strategic collaboration
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06:48 EDTRHHBYInfinity Pharmaceuticals partners with Roche for blood cancer clinical studies
Infinity Pharmaceuticals (INFI) has entered into a master clinical supply agreement with Roche (RHHBY) under which Roche will supply Gazyva to Infinity for use in planned clinical studies to evaluate the combination of Gazyva and duvelisib, Infinity’s oral inhibitor of phosphoinositide-3-kinase -delta and PI3K-gamma, in patients with hematologic malignancies, or blood cancers. The companies have also entered into a material transfer agreement under which Infinity is supplying Roche with duvelisib for use in Roche’s preclinical and translational research to evaluate the combination of duvelisib and Gazyva.
05:44 EDTAZNTeva announces positive judgement in patent case against AstraZeneca
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September 2, 2014
10:29 EDTNVOHigh option volume stocks
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08:21 EDTAMGNAmgen submitts MAA to EMA for evolocumab
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08:20 EDTAMGNAmgen submits application to EMA for talimogene laherparepvec
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08:01 EDTAMGNAmgen price target raised to $153 from $140 at Leerink
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07:12 EDTABBVCredit Suisse names its Top U.S. Pharmaceutical picks for 2H
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06:45 EDTAZNAstraZeneca volatility elevated
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06:36 EDTABBVMedtronic, AbbVie reimburse executives for inversion-triggered taxes, WSJ says
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05:18 EDTNVONovo Nordisk discontinues activities within inflammatory disorders
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September 1, 2014
13:48 EDTPFEProtalix to host conference call
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13:23 EDTNVONovo Nordisk launches diabetes drug Ryzodeg in Mexico, Reuters says
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11:34 EDTRHHBY, AZNBrookings Institution to hold a workshop
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