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January 24, 2014
05:48 EDTSNY, PFE, GSK, LLY, NVS, RHHBY, JNJ, AZNDrug firms again focus on R&D for antibiotics, WSJ reports
Over the past 15 years, drug companies left antibiotic development due to high R&D costs, poor returns and growing regulations. Now, they're finding that it's again important to search for new antibiotics as so-called superbugs increase, reports the Wall Street Journal.Reference Link
News For RHHBY;GSK;AZN;NVS;PFE;JNJ;LLY;SNY From The Last 14 Days
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November 16, 2015
13:32 EDTPFECantor helps Moelis clinches advisory role for Pfizer, Reuters reports
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13:09 EDTJNJFDA approves Darzalex to treat multiple myeloma
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11:47 EDTLLYEli Lilly reports 8.4% passive stake in Ignyta
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10:27 EDTAZNGoldman puts Conviction Buy-rated Clovis under review
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10:23 EDTAZNClovis price target cut to $28 from $92 at Piper Jaffray
Piper Jaffray analyst Charles Duncan cut his price target for shares of Clovis Oncology (CLVS) to $28 from $92 after the company announced that rociletinib efficacy data matured and the number of patients with a confirmed response is lower than expected. The updated response rate may still ultimately be approvable, but it further hinders rociletinib's competitive positioning compared to AstraZeneca's (AZN) Targrisso, Duncan tells investors in a research note. The analyst pushed back his first rociletinib sales estimate to Q4 of 2016 and lowered the drug's peak penetration of the second line market from 25% to 45%. He reiterates a Neutral rating on Clovis. The stock is down 67%, or $66.93, to $32.50 in morning trading.
10:00 EDTLLYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alliant Energy (LNT) upgraded to Outperform from Market Perform at Wells Fargo... AmerisourceBergen (ABC) upgraded to Equal Weight from Underweight at Morgan Stanley... Amphenol (APH) upgraded to Buy from Neutral at Goldman... CA Technologies (CA) upgraded to Neutral from Sell at Citi... Cempra (CEMP) upgraded to Overweight from Equal Weight at Morgan Stanley... Edgewell Personal Care (EPC) upgraded to Neutral from Sell at Goldman... Eli Lilly (LLY) upgraded on improved growth outlook at BMO Capital... MiMedx (MDXG) upgraded to Strong Buy from Buy at Needham... NVIDIA (NVDA) upgraded to Buy from Hold at Canaccord... New York REIT (NYRT) upgraded to Buy from Hold at Evercore ISI... Oracle (ORCL) upgraded to Conviction Buy from Buy at Goldman... Perrigo (PRGO) upgraded to Buy from Neutral at UBS... Semtech (SMTC) upgraded to Buy from Neutral at B. Riley... Tullow Oil (TUWOY) upgraded to Buy from Neutral at UBS... Wabtec (WAB) upgraded to Outperform on valuatoin at Raymond James.
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).
08:44 EDTLLYEli Lilly upgraded on improved growth outlook at BMO Capital
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08:32 EDTAZNClovis reopens, down 64% after FDA requests added data for rociletinib
AstraZeneca (AZN), which is at work on a drug similar to rociletinib, is up 2.5% in pre-market trading.
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
06:07 EDTLLYEli Lilly upgraded to Outperform from Market Perform at BMO Capital
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05:57 EDTAZNAstraZeneca urges UK for antibiotics investment shake-up, Financial Time says
AstraZeneca has urged the U.K. government to develop a new model for incentivizing investment in antibiotics, reports the Financial Times. In a letter to the Financial Times, the company said it has joined other "leading voices" in the life sciences sectory to implore Britain to go ahead with a new system rather than waiting for an international agreement. The company said a new payment model was needed that would reward companies' investments but without encouraging the over-use of antibiotics. Reference Link
November 15, 2015
18:13 EDTPFEAllergan, Pfizer targeting late November merger deal, FT says
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November 13, 2015
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.
10:18 EDTRHHBYRoche receives FDA approval for cobas EGFR mutation test
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09:37 EDTAZNClovis down 3% after FDA approves AstraZeneca lung cancer drug
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09:34 EDTRHHBY, AZNFDA approves Roche's cobas EGFR Mutation Test
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09:31 EDTAZNFDA approves AstraZeneca non-small cell lung cancer treatment
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06:54 EDTPFEPiper sees Pfizer worth over $50/share on standalone basis
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