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News Breaks
January 13, 2014
05:39 EDTREGN, SNYRegeneron announces amendment to investor agreement with Sanofi
Regeneron Pharmaceuticals (REGN) announced that it has amended and restated its investor agreement with Sanofi (SNY), which was originally entered into in December 2007. Under the terms of the amended and restated agreement, Sanofi retains its right to acquire up to 30% of Regeneron's outstanding common stock and Class A stock and gains the right to nominate a single independent director to the Regeneron Board of Directors upon reaching 20% ownership of Regeneron's outstanding common stock and Class A stock. The new independent director must be approved by Regeneron's board based on Sanofi's proposals and not have any current or previous relationship with Sanofi. All shares of Regeneron's common stock owned by Sanofi now or in the future are subject to an amended "Lock-Up" provision that prohibits any sales through at least December 20, 2020 and imposes certain restrictions on the manner of sales thereafter. In addition, Sanofi has agreed to be bound by an amended voting agreement which specifies that Sanofi must vote its shares as recommended by Regeneron's board except in certain defined circumstances, and revised "standstill" provisions that continue to prohibit Sanofi from seeking to directly or indirectly exert control over Regeneron or acquiring more than 30% of Regeneron's outstanding common stock and Class A stock, except under certain specified conditions. Sanofi's current ownership of Regeneron is 15.8M shares, representing approximately 16% of Regeneron's outstanding common stock and Class A stock.
News For REGN;SNY From The Last 14 Days
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May 22, 2015
10:52 EDTSNYJPMorgan says Actavis shares cheap compared to peers
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May 21, 2015
14:48 EDTSNY, REGNRegeneron primary driver remains Praluent, says Piper Jaffray
Piper Jaffray noted that Regeneron (REGN) shares are at all-time highs after the company and partner Sanofi reported Phase IIb data on Dupilumab and Phase III data on Sarilumab. However, the firm believes the primary driver for Regeneron remains Praluent and firm expects launch costs to outstrip sales growth. Piper acknowledges Regeneron has "one of the richest pipelines in all of biotech," but it sees risk around Amgen's (AMGN) patent suit and keeps its Neutral rating and $484 price target on the stock.
05:15 EDTSNY, REGNRegeneron, Sanofi announce positive topline results from sarilumab Phase 3 study
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May 20, 2015
08:53 EDTREGNRegeneron price target raised to $560 from $500 at Argus
Argus increased its price target on Regeneron as the firm notes that the company has had positive pipeline and earnings news over the past year, and has increased its sales outlook. Argus thinks the company has a strong pipeline and keeps a Buy rating on the shares.
07:38 EDTREGNRegeneron price target raised to $600 from $525 at Canaccord
Canaccord raised its price target on Regeneron to $600 from $525 following positive top-line data for its Phase 2b study of dupilumab in adult patients with moderate-to-severe asthma. The firm sees the data as significant, as it reinforces the role of dupilumab and increases the potential future revenue stream for the company. Canaccord reiterated its Buy rating on Regeneron shares.
May 19, 2015
06:55 EDTSNYGenocea could be takeover target after data, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff expects Genocea Biosciences (GNCA) will report positive Phase II GEN-003 post-immunization results late in Q2. GEN-003 is a therapeutic vaccine for genital herpes targeting Herpes Simplex Virus Type 2. Positive GEN-003 data could position Genocea as a potential acquisition target by a larger vaccine player, Tenthoff tells investors today in a research note. Large vaccine makers include Sanofi (SNY), Merck (MRK), GlaxoSmithKline (GSK), Pfizer (PFE) and Novartis (NVS). The analyst reiterates an Overweight rating on Genocea with a $14 price target. Shares of the clinical-stage vaccine developer with a $227M market capitalization closed yesterday up 83c to $10.22.
May 18, 2015
12:34 EDTREGN, SNYRegeneron, Sanofi announce positive pivotal Phase 2b dupilumab data in asthma
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May 17, 2015
14:59 EDTSNYL'Oreal CEO 'ready' to sell Sanofi stake if needed, Barron's says
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May 15, 2015
10:29 EDTSNYAmerican Urological Association to hold an annual meeting
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08:15 EDTREGNRegeneron target upped to $550 at Credit Suisse citing growth potential
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08:04 EDTREGNRegeneron price target raised to $450 from $427 at JPMorgan
JPMorgan said it is "increasingly confident" in dupilumab's longer-term prospects in asthma ahead of the full Phase 2b results. The firm believes the drug's peak sales could top $4B. JPMorgan keeps a Neutral rating on Regeneron, however, saying its valuation already reflects blockbuster sales for Eylea, Praluent, sarilumab and dupilumab. It raised its price target for the name to $450 from $427.
May 13, 2015
07:31 EDTSNYHeart Rhythm Society to hold a conference
Heart Rhythm 2015 is being held in Boston on May 13-16.
07:05 EDTSNYSanofi exercises option on therapeutic program with Selecta Biosciences
Selecta Biosciences., a clinical stage biotechnology company developing a novel class of targeted antigen-specific immune therapies, today announced that, under the terms of an existing strategic global collaboration, Sanofi has exercised its option to an exclusive license to develop an immunotherapy for the treatment of celiac disease. Under the terms of the collaboration, Selecta is eligible to receive research support and several pre-clinical, clinical, regulatory and sales milestones totaling up to $300 million for this new program in celiac disease. Additionally, Selecta is also entitled to up to double digit tiered royalties as percentage of product net sales for any commercialized immunotherapy resulting from these efforts with Sanofi. November 2012, Selecta announced that they had formed a strategic global collaboration to discover highly targeted, antigen-specific immunotherapies for life threatening allergies. Under the agreement, Sanofi obtained a first exclusive license to develop an immunotherapy designed to abate acute immune responses against a life threatening food allergen and an option to develop two additional candidate immunotherapies for allergies and celiac disease. With the exercise of this option by Sanofi, Selecta and Sanofi now have two initiatives actively advancing immune tolerance treatments under the terms of the 2012 agreement. In October 2014, Selecta and JDRF announced another collaboration with Sanofi to research novel antigen-specific immune therapies for Type 1 Diabetes.
May 8, 2015
07:24 EDTREGNRegeneron price target raised to $507 from $450 at Brean Capital
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06:40 EDTREGNRegeneron price target raised to $537 from $474 at Citigroup
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