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April 2, 2014
11:55 EDTBMRN, BAX, BIIB, SGMO, QURE, NVO, PFEUniqure rises after Baxter acquires Chatham Therapeutics
U.S.-listed shares of Netherlands-based pharmaceutical company Uniqure (QURE) are rising after Baxter International (BAX) acquired Chatham Therapeutics, which is developing gene therapy treatments intended for patients with hemophilia. WHAT'S NEW: Baxter agreed to acquire all of Chathamís outstanding membership interests and as a result will acquire Chathamís developmental gene therapy programs directed toward the development and commercialization of treatments for hemophilia. Under the terms of the agreement, Baxter will make an initial payment of $70M to acquire all of the outstanding membership interests of Chatham and may make additional payments in the future. Baxter will continue the ongoing Phase I/II open-label clinical trial to assess the safety and optimal dosing schedule of hemophilia treatment BAX 335. ANALYST REACTION: Research firm Piper Jaffray said the Baxter acquisition has a positive read-through for Uniqure. The deal validates other hemophilia gene therapy programs in development, most notably Uniqure's, according to the firm. Analyst Joshua Schimmer wrote that there are other gene therapy programs for hemophilia in development beside Uniqure's and Baxter's, but he believes Uniqure has an advantage since it will be important to be among the first to market. The analyst also said that the market is large enough to accommodate more than one gene therapy option. Piper reiterated its Overweight rating and $35 price target on Uniqure. OTHERS TO WATCH: Other companies noted by Piper as currently offering hemophilia treatments or working on hemophilia therapies include Pfizer (PFE), Novo Nordisk (NVO), Biogen (BIIB), Sangamo (SGMO) and BioMarin (BMRN). PRICE ACTION: During late morning trading, shares of Uniqure rose 77c or 4.92% to $16.43, while Baxter slid 33c, or 0.45%, to $73.34.
News For QURE;BAX;PFE;SGMO;BMRN;NVO;BIIB From The Last 14 Days
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November 18, 2015
07:02 EDTPFEMerck KGaA, Pfizer win FDA breakthrough therapy designation for Avelumab
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06:30 EDTBMRNBioMarin assumed with a Buy at Goldman
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06:09 EDTPFEValeant's Addyi sees hardly any sales, Bloomberg says
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November 17, 2015
16:10 EDTBMRNBioMarin initiated with a Perform at Oppenheimer
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05:22 EDTPFEStocks with implied volatility movement; P PFE
Stocks with implied volatility movement; Pandora (P) 104, Pfizer (PFE) 29 according to iVolatility.
November 16, 2015
13:32 EDTPFECantor helps Moelis clinches advisory role for Pfizer, Reuters reports
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09:59 EDTPFEOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
07:16 EDTBMRNHayman Capital gives quarterly update on stakes
NEW STAKES: Impax (IPXL), CF Industries (CF), GW Pharmaceuticals (GWPH), ProNAi Therapeutics (DNAI). INCREASED STAKES: BioMarin (BMRN), NMI Holdings (NMIH), Vertex (VRTX), Endo (ENDP). DECREASED STAKES: Mylan (MYL). LIQUIDATED STAKES: Perrigo (PRGO), Oasis Petroleum (OAS), Whiting Petroleum (WLL), Newfield Exploration (NFX), SM Energy (SM).
07:16 EDTBMRNFDA likely feels compelled to approve at least one DMD drug, says Leerink
Leerink analyst Joseph Schwartz says the FDA likely feels compelled to approve at least one of the exon skipping drugs to treat Duchenne muscular dystrophy in this review cycle. There is so much public attention and vocal demand in the DMD community, Schwartz tells investors in a research note. The FDA advisory panel on BioMarin's (BMRN) drisapersen is on November 24 while the panel on Sarepta's (SRPT) eteplirsen is tentatively scheduled for January 22, 2016. The greatest likelihood is that both drugs are approved, Schwartz contends. Shares of BioMarin have "significant" upside potential on a positive panel vote as many investors still doubt that drisapersen is approvable based on existing data, and approval would "greatly aid" the company's goal to reach profitability, the analyst argues. He reiterates an Outperform rating on BioMarin and a Market Perform rating on Sarepta. Jefferies analyst Eun Yang said on Friday that regulatory experts she spoke with see a high likelihood of a positive FDA panel vote BioMarin.
06:33 EDTPFEPfizer, Allergan deal brings focus on U.S. tax-inversion deals, Reuters says
Pfizer's (PFE) takeover bid for Allergan (AGN) has refocused financial markets over a potential move by the U.S. Treasury Department against tax-inversion deals, Reuters reported Friday. The outlook for such a move remained unclear on Friday, the report says. Reference Link
06:11 EDTBAXBaxter resumed with a Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Brooks West downgraded Baxter (BAX) to Neutral after resuming coverage of the name. The company, post the spin of Baxalta (BXLT), "has a number of moving pieces that need to be addressed," West tells investors in a research note. He lowered his price target for shares to $39 from $90.
November 15, 2015
18:13 EDTPFEAllergan, Pfizer targeting late November merger deal, FT says
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November 13, 2015
17:04 EDTBAXThird Point gives quarterly update on stakes
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15:32 EDTBMRNSarepta CEO says having BioMarin go first with AdCom is an advantage
Sarepta (SRPT) interim CEO Edward Kaye said BioMarin (BMRN) having to go first with its advisory committee meeting for its own DMD drug will allow Sarepta time to assess the committee's comments and questions on their drug and formulate responses. Kaye is speaking on CNBC.
13:57 EDTPFEAppeals court vacates decision invalidating Medicines Co. Angiomax patents
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11:12 EDTPFEPiper sees Pfizer profiting from Allergan deal, worth $50/share even without one
An acquisition of Allergan (AGN) by Pfizer (PFE) would increase the latter company's profits in 2016-2017 and lift its earnings by a large amount by 2019, wrote research firm Piper Jaffray in a note to investors today. WHAT'S NEW: By 2019, an acquisition of Allergan would increase Pfizer's earnings per share by 13%-16%, estimated Piper analyst Richard Purkiss. The deal would be profitable for Pfizer as early as 2016, the analyst believes. Excluding any acquisition, Pfizer is worth over $50 per share, well above analysts' average price target of $40, Purkiss believes. He kept a $52 price target and Overweight rating on Pfizer. WHAT'S NOTABLE: Yesterday dealReporter, noting that an acquisition of Allergan by Pfizer would be "a giant inversion deal," asserted that the U.S. Treasury could look to take steps to limit or discourage those types of transactions. On November 6, research firm Bernstein said that Allergan's strong results, coupled with the weakness of drug stocks, could cause Allergan to be reluctant to sell itself to Pfizer in the near-term. As a result, the firm thinks that the odds of a deal getting done may be lower than many believe. It kept a $385 price target and Outperform rating on Allergan. PRICE ACTION: In late morning trading, Pfizer rose fractionally to $33.47 and Allergan added 1.3% to $303.87.
07:57 EDTBMRNExperts see positive FDA panel for BioMarin, says Jefferies
Jefferies analyst Eun Yang says regulatory experts she spoke with see a high likelihood of a positive FDA panel vote BioMarin's (BMRN) Kyndrisa, a treatment for Duchenne Muscular Dystrophy. The panel meeting is November 24 and the FDA action date for the drug is December 27. The experts point to a favorable risk/benefit profile for Kyndrisa as well as no current treatment option for DMD as supporting their confidence of FDA approval, Yang tells investors in a research note. The experts see a post-marketing study for Kyndrisa as likely necessary, she adds. On competitor Sarepta's (SRPT) DMD treatment eteplirsen, experts' views are "somewhat mixed," Yang adds. She has a Buy rating on BioMarin with a $166 price target. A positive panel vote could boost shares by 20% and bring increased confidence in BioMarin's three additional candidates targeting additional DMD patients, she contends. The orphan drug developer closed yesterday down $4.35 to $106.80.
06:54 EDTPFEPiper sees Pfizer worth over $50/share on standalone basis
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November 12, 2015
13:45 EDTPFEPfizer, Allergan talks could set off further Treasury action, dealReporter says
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November 11, 2015
07:56 EDTPFEBoston Biotech Conferences to hold a conference
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