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Stock Market & Financial Investment News

News Breaks
June 24, 2014
07:00 EDTGSK, ABT, PFEIndia foreseen to broaden price caps to more drugs, Reuters says
The Indian government is most likely to increase the number of medicines considered essential and subject to price caps, according to Reuters, citing people directly involved in the process. Having more drugs subject to price caps will spark interest from world-wide pharmaceutical companies such as Pfizer (PFE), GlaxoSmithKline (GSK) and Abbott Laboratories (ABT), who all have a large presence in India's $15B pharmaceutical market. Reference Link
News For PFE;GSK;ABT From The Last 14 Days
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September 16, 2014
07:19 EDTPFECompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
September 15, 2014
16:10 EDTGSKFive Prime announces option exercise by GlaxoSmithKline to obtain license
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09:32 EDTABTAbbott initiates ABSORB IV trial
Abbott announced the start of the ABSORB IV clinical trial, which will test whether its Absorb Bioresorbable Vascular Scaffold is more cost-effective and offers a higher quality of life than a permanent, metallic drug eluting stent. Unlike a metallic stent, Absorb completely dissolves over time after doing its job. ABSORB IV is designed to enroll approximately 3K people with coronary artery disease, mostly in the U.S. The ABSORB IV trial is designed to confirm these novel findings that treatment with the Absorb device can help provide people with heart disease a higher quality of life after a heart stent procedure. The data from the ABSORB IV trial will be combined with the data from the ABSORB III trial to create a population of more than 5K people studied in the U.S. This data set, which is the largest of its kind for bioresorbable heart devices, provides an opportunity to evaluate the performance of Absorb compared to the current standard of a metallic drug eluting stent across a number of measures, including the broader health economic impact of this innovative therapy.
09:25 EDTPFEJPMorgan biotech analysts hold an analyst/industry conference call
Analysts assess Pfizer's M&A options on an Analyst/Industry conference call to be held on September 15 at 10 am.
07:45 EDTABTCardiovascular Research Foundation to hold a conference
Transcatheter Cardiovascular Therapeutics: TCT 2014 to be held in Washington, D.C. on September 13-17 with some presentations being webcasted. Webcast Link
07:27 EDTGSK, PFEIBC Life Sciences to hold a conference
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07:27 EDTPFEPfizer acquisition could drive shares higher, says JPMorgan
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September 14, 2014
13:32 EDTPFEPfizer shares look cheap, Barron's says
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13:30 EDTABTAbbott announces positive one-year clinical results from ABSORB II
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September 12, 2014
10:32 EDTPFEPfizer CEO says company still open to inversion deal, FT says
Pfizer (PFE) CEO Ian Read said U.S. rhetoric against tax inversions has been "political theater" ahead of midterm elections and made clear that his company is still open to a potential tax-saving acquisition, according to Financial Times, which added Read's comment about not being “held hostage” over price would likely be read as a signal the company might look elsewhere after being rebuffed by AstraZeneca (AZN). The Fly notes that Bloomberg previously reported, citing people familiar with the matter, that Pfizer is looking at targets other than AstraZeneca, including Actavis (ACT). Shares of Actavis trading in New York are up 2% this morning. Reference Link
September 11, 2014
13:41 EDTABTAbbott announces new $3B share repurchase program
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September 10, 2014
09:58 EDTGSKGlaxoSmithKline has a conference call hosted by JPMorgan
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September 9, 2014
06:42 EDTABTLew expects to make decision on combating inversion deals soon, NY Times reports
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06:25 EDTGSKDocuments show DOJ probed GSK China unit in 2012, Reuters says
Internal documents revealed that a U.S. anti-bribery investigation into GlaxoSmithKline (GSK) touched on the firm's Chinese consumer healthcare division two years ago, which infers that the company's compliance issues in the country could be broader than initially discovered, according to Reuters, citing the documents. Reference Link
September 8, 2014
08:48 EDTGSKGilead announces AMBITION study results in collaboration with Glaxo
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07:15 EDTPFEIBC Life Sciences to hold a conference
10th Annual Cell Line Development & Engineering Conference to be held in Berkeley, California on September 8-10.
September 7, 2014
13:57 EDTGSKGlaxoSmithKline Ebola vaccine works in tests on monkeys, Bloomberg says
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September 5, 2014
05:46 EDTABTDexCom competition closer after Abbott approval, says Piper Jaffray
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September 4, 2014
16:05 EDTPFEPfizer granted orphan status for sickle cell disease drug
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07:23 EDTPFEAstraZeneca called for inversion clamp down as part of defense, WSJ says
Amid its defense against an unsolicited takeover bid from rival Pfizer (PFE), AstraZeneca (AZN) hired advisers with close ties to the Obama administration, who made calls to senior administration officials urging a clamp down on tax inversions, said The Wall Street Journal, citing people familiar with the previously undisclosed calls. Reference Link
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