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May 1, 2013
10:45 EDTTHRX, THRX, GSK, GSK, VRX, VRX, DEPO, DEPO, FLML, FLML, CELG, CELG, ONXX, ONXX, FRX, FRX, AVEO, AVEOWashington Analysis healthcare analyst holds analyst/industry conference call
Healthcare Analyst Loss discusses top FDA issues which include upcoming FDA meetings, FDA rules and initiatives and PDUFA dates (THRX, GSK, VRX, DEPO, FLML, CELG, ONXX, FRX and AVEO) on an Analyst/Industry conference call to be held on May 1 at 11 am.
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November 18, 2015
06:09 EDTVRXValeant's Addyi sees hardly any sales, Bloomberg says
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November 17, 2015
16:59 EDTDEPODepomed acquires U.S. rights to pain product from Grunenthal
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16:01 EDTVRXOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
08:22 EDTCELGSignificant Celgene overhang removed, says JMP Securities
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07:40 EDTVRXValeant price target cut to $98 from $200 at Morgan Stanley
Morgan Stanley analyst David Risinger cut Valeant estimates and lowered his price target to $98 from $200 to account for the negative impact of Philidor and uncertainty in U.S. growth. Risinger believes Valeant is a "real" company selling "real" drugs despite Philidor and other controversies, but cannot ignore the investigation risks or quantify the costs at this time. The analyst continues to rate shares Equal Weight, despite low valuation, until visibility increases.
06:43 EDTVRXPhilidor effects may be longer-lasting for Valeant, says Deutsche Bank
After surveying 25 dermatologists that prescribe Valeant's products and are familiar with the specialty pharmacy Philidor, Deutsche Bank analyst Gregg Gilbert believes the Philidor controversy could have longer-lasting effects relative to the short-term disruption that Valeant management has suggested. The analyst awaits Valeant's guidance changes for Q4 and 2016 that are coming in December. The stock could have "significant upside" over the next year if Valeant delivers on its targets, Gilbert tells investors in a research note. Nonetheless, he keeps a Hold rating on the stock with a $136 price target. Shares of Valeant closed yesterday down $2.12 to $73.29.
November 16, 2015
19:12 EDTVRXCongressman seeks interview with Valeant execs linked to Philidor, Reuters says
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16:53 EDTVRXPaulson reduced stake in Valeant
Paulson & Co. gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Perrigo (PRGO), CIT Group (CIT), Precision Castparts (PCP), Cameron (CAM), and Altera (ALTR). INCREASED STAKES: Teva (TEVA), Post Holdings (POST), Starwood Hotels (HOT), LivaNova (LIVN), and Synergy Pharmaceuticals (SGYP). DECREASED STAKES: Valeant (VRX), Shire (SHPG), Whiting Petroleum (WLL), Computer Sciences (CSC), and Oasis Petroleum (OAS). LIQUIDATED STAKES: Houghton Mifflin Harcourt (HMHC), Broadcom (BRCM), and Sprint (S).
13:24 EDTVRXCooperman's Omega no longer owns Valeant, CNBC reports
Leon Cooperman's Omega Advisors no longer owns Valeant and hasn't for some time, CNBC's Scott Wapner reports, citing a source. Omega earlier today disclosed that it owned over 484,000 shares of Valeant as of September 30.
13:11 EDTCELGCelgene jumps 2% after defeating Kyle Bass patent challenge
Shares of Celgene moved higher after the U.S. Patent and Trademark Office declined to review a Revlimid patent expiring in 2019. The USPTO found that that Bass's Coalition for Affordable Drugs was unlikely to succeed, according to Bloomberg. Shares of Celgene are up 2%, or $1.64, to $190.13 in afternoon trading. The agency is reviewing two other patents on the drug.
13:08 EDTCELGCelgene defeats Bass challenege on Revlimid patent, Bloomberg reports
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09:59 EDTVRXOmega 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).
09:06 EDTVRXDiplomat seen as compelling amid specialty pharmacy fallout
Shares of specialty pharmacy operator Diplomat Pharmacy (DPLO) and pharmacy benefit manager Express Scripts (ESRX) have each been knocked down by the negative news surrounding the sector amid the troubles faced by Valeant (VRX) and others, but an analyst at Leerink contends in a note to investors that the pullbacks in both stocks provide buying opportunities. BACKGROUND: Drugmaker Valeant and its prior specialty pharmacy partner, Philidor Rx Services, have been at the center of the firestorm engulfing the sector. Following claims that Philidor urged its employees to modify prescriptions to ensure more orders of Valeant-branded drugs rather than generics, as well as other allegations of wrongdoing, Express Scripts (ESRX) and peer CVS Health (CVS) terminated Philidor from their networks. The day after those termination announcements, Valeant said that it was severing all ties with Philidor and that the pharmacy planned to shut down operations as soon as possible, consistent with applicable laws. Valeant has subsequently said that Philidor has committed to cease operations by January 30, 2016, at the latest. More recently, Express Scripts, the nation's largest pharmacy benefit manager, announced that it stopped doing business with Linden Care, accusing it of being a "captive" pharmacy that dispenses mostly products made by Horizon Pharma (HZNP). In turn, Horizon called the idea that Linden Care is a captive pharmacy "entirely false," stating that "at best Express Scripts is being reckless in its allegations and at worse it is intentionally attempting to mislead investors." Express Scripts' move also impacted shares of Insys Therapeutics (INSY), which reportedly also used Linden Care to fulfill prescription for its drugs. DIPLOMAT LIKELY TO STAY IN-NETWORK: Leerink analyst David Larsen acknowledged that recent events indicate that Express Scripts appears to be evaluating certain retail pharmacies and their relationships with manufacturers, but he believes Diplomat's mix of drugs for diseases like multiple sclerosis, HIV, hepatitis C and cancer differentiate it as a "true" specialty pharmacy. Larsen does not think Diplomat is at risk of being excluded from the pharmacy networks of Express Scripts, CVS or UnitedHealth's (UNH) Optum, he tells investors. Larsen expects limited distribution agreements to stay an important channel strategy for drugmakers and believes these agreements are appropriate for high cost specialty drugs that require special handling and additional services to manage patient adherence. The analyst, who thinks Diplomat remains well positioned to deliver annual growth of over 30% in the next several years, keeps an Outperform rating on its shares. EXPRESS BUYING OPPORTUNITY: Larsen also thinks concerns around manufacturer and pharmacy relationships have put unwarranted pressure on shares of Express Scripts. He does not expect Express Scripts to disclose new lawsuits around rebate dollars owed over other manufacturer disputes and keeps an Outperform rating on the stock, which he views as having an "attractive" valuation. WHAT'S NOTABLE: Larsen also thinks that the specialty channel remains an opportunity for Walgreens Boots Alliance (WBA) and believes its proposed acquisition of Rite Aid (RAD) can strengthen its specialty offering. The analyst keeps an Outperform rating on Walgreens shares as well. PRICE ACTION: Over the last three months, Diplomat Pharmacy shares have declined 28%, Express Scripts has fallen 6% and Walgreens has dropped 14%.
November 13, 2015
16:08 EDTVRXRuane reports 10.52% passive stake in Valeant
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14:06 EDTDEPOHorizon Pharma extends exchange offer to acquire Depomed
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11:02 EDTCELGCelgene calls active on renewed takeover chatter
Celgene November weekly 111 and 112 calls are active on total call volume of 9K contracts (3K puts) on renewed takeover chatter. November weekly call option implied volatility is at 82, November is at 42, December is at 35; compared to its 52-week range of 23 to 54. Active call volume suggests traders taking positions for large price movement.
10:58 EDTCELGRumor: Celgene moves up on renewed takeover chatter
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November 12, 2015
08:02 EDTVRXSynergy Pharmaceuticals still a saleable asset, says Canaccord
Canaccord still views Synergy Pharmaceuticals (SGYP) as a saleable asset, with Valeant (VRX) or Shire (SHPG) seen as the most obvious buyers. The firm also sees the cost of the launch of plecanatide as lower than expected and sees no need for the company to raise capital until at least the end of 2016. Canaccord reiterated its Buy rating and $19 price target on Synergy Pharmaceuticals shares.
08:01 EDTFLMLFlamel reports Q3 adjusted EPS 28c, consensus 23c
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06:12 EDTVRXAckman responds to Munger's Valeant criticism with Coke critique, Bloomberg says
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