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June 1, 2014
13:22 EDTSGEN, ABBV, RHHBYSeattle Genetics announces data from several collaborator ADC programs
Seattle Genetics (SGEN) announced data from several collaborator antibody-drug conjugate, ADC, programs presented at the American Society of Clinical Oncology, ASCO, 50th Annual Meeting being held May 30 to June 3, 2014 in Chicago, IL. AbbVie (ABBV) presented preliminary data from an ongoing phase 1 clinical trial evaluating the ADC ABT-414 in combination with temozolomide in glioblastoma, and Genentech, a member of the Roche Group (RHHBY), is presenting data from five ADC programs, including two oral presentations. In addition, Progenics presented data from an ADC program under evaluation for castration-resistant prostate cancer. All of the collaborator programs utilize Seattle Genetics’ ADC technology. “Researchers at Seattle Genetics have identified and optimized novel components that are fundamental to creating antibody-drug conjugates, including potent cell-killing agents and conditionally stable linker systems,” said Jonathan Drachman, M.D., Chief Medical Officer and Executive Vice President, Research and Development at Seattle Genetics. “Our collaborators are making great progress in advancing novel ADC candidates as evidenced by the encouraging data presentations at ASCO. Seattle Genetics continues to lead the field in developing ADC candidates, which demonstrate the therapeutic potential of our technology broadly through both our proprietary and collaborator programs.”
News For SGEN;ABBV;RHHBY From The Last 14 Days
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October 15, 2014
12:58 EDTABBVAbbVie close to dropping takeover bid for Shire, Bloomberg reports
12:58 EDTABBVAbbVie close to dropping takeover bid for Shire, Bloomberg reports
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12:36 EDTABBVOn The Fly: Midday Wrap
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10:48 EDTABBVShire tanks with AbbVie calling board meeting over merger
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09:57 EDTABBVLeerink biotech analysts hold an analyst/industry conference call
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09:20 EDTABBVOn The Fly: Pre-market Movers
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07:30 EDTABBVAbbVie review of Shire deal an 'unwelcome surprise,' says Jefferies
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06:58 EDTABBVAbbVie volatility elevated into reconsidering Shire merger
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06:55 EDTABBVShire volatility elevated into AbbVie reconsidering merger recommendation
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05:34 EDTABBVShire says AbbVie should proceed with recommended offer
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October 14, 2014
19:59 EDTABBVAbbVie down nearly 2% after board reconsiders Shire merger
19:48 EDTABBVAbbVie board reconsidering recommendation to holders to accept Shire merger
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19:46 EDTABBVAbbVie board reconsidering recommendation to holders to accept Shire merger
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12:41 EDTABBVGilead retreats following Johnson & Johnson comments on HCV drug
Shares of Gilead (GILD), which has developed a hepatitis C treatment, are retreating after Johnson & Johnson (JNJ) said it would seek to make its own hepatitis C treatment accessible and competitive. Some investors believe that Johnson & Johnson's comments suggest that it will cut the price of its hepatitis C drug. WHAT'S NEW: Johnson & Johnson said on its earnings conference call today that it was "committed" to its treatment for hepatitis C virus, or HCV. The company added that it intends to remain competitive in the space and would look to make its HCV treatment, Olysio, accessible. In a separate development today, The Wall Street Journal reported that Abbvie (ABBV), which also has an HCV treatment, may have to consider pricing its HCV drug more aggressively after Gilead received FDA approval for Harvoni, the first combination pill approved to treat chronic HCV genotype 1 infection. One analyst quoted by The Journal, Roger Longman, said that AbbVie should consider pricing its drug at $76,000 for a 12 week regimen, representing a 20% discount to Harvoni, which will be priced at $94,500 for a full 12 week regimen. ANALYST REACTION: In a note to investors earlier today, RBC Capital analyst Michael Yee wrote that the weakness in Gilead's stock today has created a buying opportunity. Johnson & Johnson probably can't reduce the price of its Olysio drug much, since it is often used in combination with Gilead's Sovaldi, which costs $84,000 for 12 weeks, RBC Capital analyst Michael Yee wrote in a note to investors today. The price of AbbVie's treatment is unlikely to be much below Sovaldi's price, the analyst stated. WHAT'S NOTABLE: Gilead, along with a number of other drug companies, may also be under pressure because Ireland is reportedly closing its "Irish Double" tax loophole. Gilead is one of the companies that currently benefits from the "Irish Double," but Yee says that closing the loophole should only have a "minimal" impact on Gilead. PRICE ACTION: In early afternoon trading, Gilead fell 3.3% to $98.10, AbbVie gained 1.7% to $54.53 and Johnson & Johnson lost 0.6% to $98.52.
11:23 EDTRHHBYBIND Therapeutics and The Conference Forum hold a conference
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10:51 EDTABBVGilead weakness a buying opportunity, says RBC Capital
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10:05 EDTABBVAbbVie could cause Hep C price tipping point with aggressive pricing, WSJ says
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October 13, 2014
09:23 EDTABBVAbbVie's Humira for hidradenitis suppurativa meets Phase 3 trial endpoint
AbbVie announced new results from PIONEER II, a pivotal Phase 3 study, demonstrating the effect of Humira in reducing common clinical signs and symptoms in moderate-to-severe hidradenitis suppurativa, specifically the number of abscesses and inflammatory nodules. The results of this study, in combination with previously presented results from PIONEER I, will contribute to worldwide regulatory filings for an expanded use of Humira, which is not currently approved by regulatory authorities for the treatment of HS.
07:39 EDTABBVPharmaceutical Care Management Association to hold annual meeting
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07:37 EDTABBVAmerican Society of Anesthesiologists to hold annual meeting
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