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Stock Market & Financial Investment News

News For GSK;NVS;CBST;TEVA;JAZZ;BP;CHK From The Last 14 Days
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April 24, 2014
12:18 EDTCHKStocks with call strike movement; NEM CHK
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09:40 EDTNVSEli Lilly says 'on track' to achieve FY14 guidance
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05:56 EDTCHKStocks with implied volatility movement; CHK SD
Stocks with implied volatility movement; Chesapeake (CHK) 33, SandRidge Energy (SD) 44 according to iVolatility.
05:25 EDTNVSNovartis backs FY14 revenue guidance of low to mid-single digit growth
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05:22 EDTNVSNovartis reports Q1 Core EPS $1.31, consensus $1.33
Reports Q1 revenue $14.02B, consensus $14.36B.
April 23, 2014
13:42 EDTCHKChesapeake May volatility elevated into Q1 and outlook
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13:29 EDTNVS, GSKArray BioPharma: Novartis to honor Array-Novartis agreement with binimetinib
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10:01 EDTGSKOn The Fly: Analyst Upgrade Summary
A.O. Smith (AOS) upgraded at BMO Capital... Agnico-Eagle (AEM) upgraded to Outperform from Sector Perform at RBC Capital... Allergan (AGN) upgraded to Overweight from Neutral at JPMorgan... Cabot Oil & Gas (COG) upgraded to Buy from Hold at Societe Generale... Cree (CREE) upgraded to Buy from Hold at Summit Research... E-Trade (ETFC) upgraded to Outperform from Market Perform at Wells Fargo... Equifax (EFX) upgraded at Credit Suisse... Fluidigm (FLDM) upgraded to Buy from Neutral at Mizuho... GlaxoSmithKline (GSK) upgraded to Buy from Hold at Argus... GulfMark Offshore (GLF) upgraded to Buy from Neutral at Global Hunter... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at Fig Partners... Illumina (ILMN) upgraded to Buy from Hold at Maxim... Lumber Liquidators (LL) upgraded to Buy from Neutral at Longbow... Medidata Solutions (MDSO) upgraded to Buy from Neutral at B. Riley... Prologis (PLD) upgraded to Buy from Neutral at ISI Group... Sanmina (SANM) upgraded to Buy from Hold at Craig-Hallum... SunPower (SPWR) upgraded to Buy from Hold at Deutsche Bank... TECO Energy (TE) upgraded to Neutral from Sell at UBS... Torchmark (TMK) assumed with a Market Perform from Underperform at Keefe Bruyette... Valeant (VRX) upgraded to Buy from Hold at TD Securities... Vitamin Shoppe (VSI) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Outperform from Neutral at Credit Suisse... athenahealth (ATHN) upgraded to Overweight from Equal Weight at Morgan Stanley.
08:08 EDTCBSTCubist potential strategic buyer may be willing to pay $95 or more, says Cowen
Cowen noted Cubist's Cubicin sales were light during the quarter as management cited seasonality. The firm believes the miss is a non-event and sees value creation for shareholders entering at these levels. Cowen continues to believe Cubist should and will be acquired by a strategic buyer with a U.S. and International hospital sales force presence and could potentially pay $95 or more for the company. Shares are Outperform rated with a $80 price target.
07:24 EDTGSKGlaxoSmithKline upgraded to Buy from Hold at Argus
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07:00 EDTNVSTerrapinn to hold a conference
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06:54 EDTGSKCambridge Healthtech Institute to hold a conference
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06:23 EDTBPBP agrees to sale of interests in four Alaska North Slope assets
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06:16 EDTGSK, NVSPharmaceutical companies narrowing focus, WSJ reports
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05:25 EDTNVSNovartis announces new data confirms efficacy of Gilenya
New analyses of pooled data from the FREEDOMS and FREEDOMS II trials will be presented at the 66th American Academy of Neurology, or AAN, Annual Meeting in Philadelphia, Pennsylvania, and will show the consistent efficacy of Gilenya on four key measures of multiple sclerosis disease activity - reducing relapses, new MRI lesion counts, brain volume loss and disability progression. Demonstrating benefit on these four measures is important in order to improve the course of MS and ultimately address the loss of function experienced by patients with MS. An additional analysis of FREEDOMS and FREEDOMS II will show that significantly more Gilenya-treated patients had brain volume loss rates comparable to people without MS. Given that brain volume loss, measured by MRI, starts early in the disease course and is correlated with long-term disability, a treatment benefit on this measure will be important for patients with MS.
April 22, 2014
18:09 EDTCBSTCubist sees FY14 revenue $1.19B-$1.28B, consensus $1.25B
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16:33 EDTGSK, NVSOn The Fly: Closing Wrap
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16:02 EDTCBSTCubist reports Q1 EPS 10c, consensus 0.0c
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15:32 EDTCBSTNotable companies reporting after market close
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12:39 EDTGSK, NVS, JAZZOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday amid a number of big deals and a much talked about proposed deal in the pharmaceutical industry, as well as another wave of earnings reports. The market opened quietly but on the positive side of the ledger as investors pored over the multitude of quarterly reports issued after the close last night and earlier today. Near noon the market stood near its session highs and is pointing toward its sixth consecutive positive close. ECONOMIC EVENTS: In the U.S., existing home sales slipped 0.2% to a 4.59M rate in March, versus expectation for them to have fallen 1% to a 4.56M rate. The Richmond Fed manufacturing survey for April had a reading of 7, beating the consensus forecast for a reading of 2. COMPANY NEWS: Valeant Pharmaceuticals (VRX) teamed with Bill Ackman's hedge fund Pershing Square to make a hostile takeover offer for Allergan (AGN), sending shares of both companies higher. Allergan confirmed it received the offer of $48.30 in cash and 0.83 shares of Valeant stock for each of its own shares, which it said it will evaluate with the help of its advisers. Analysts' opinion on the fallout varied, with one firm suggesting Allergan could pursue its own takeover of Shire (SHPG) or Jazz Pharmaceuticals (JAZZ) as a defense, and another saying a rival big pharma company, such as Johnson & Johnson (JNJ) or Merck (MRK), could launch a competing bid for Allergan. Shares of Allergan led all gainers on the S&P 500, rising 16%, while Valeant shares gained more than 6%... A number of other big drug makers made news with a string of deals, as Novartis (NVS) and GlaxoSmithKline (GSK) both reshaped their companies via a trio of agreements. Novartis will acquire GSK's oncology products for a $14.5B payment and up to $1.5B contingent future payments, Novartis will sells its Vaccines business, excluding flu, to GSK for $7.1B plus royalties, and the two agreed to tie-up their consumer healthcare businesses through a joint venture. In a separate transaction, Novartis agreed to divest its Animal Health Division to Eli Lilly (LLY) for about $5.4B. MAJOR MOVERS: Among the notable gainers following their earnings reports were streaming video service Netflix (NFLX), which advanced almost 6%, and motorcycle maker Harley-Davidson (HOG), which rose 8%. Companies that slid following their earnings reports included printer maker Lexmark (LXK), which fell over 11%, and Pentair (PNR), which dropped almost 6%. INDEXES: Near midday, the Dow was up 106.77, or 0.65%, to 16,556.02, the Nasdaq was up 45.95, or 1.11%, to 4,167.50, and the S&P 500 was up 11.59, or 0.62%, to 1,883.48.
11:22 EDTJAZZAnalysts think Valeant bid for Allergan could spur higher offer, rival deal
After Valeant Pharmaceuticals (VRX) teamed with hedge fund Pershing Square to make a hostile takeover offer for Allergan (AGN), analysts' opinion on the fallout varied, with one firm suggesting Allergan could pursue its own takeover as a defense and another believing Valeant will be pushed to raise its offer. WHAT'S NEW: Valeant, in partnership with Bill Ackman's Pershing Square, offered to combine with Allergan for $48.30 in cash and 0.83 shares of Valeant stock for each share of Allergan. Allergan has confirmed it received the offer and said that it would evaluate the proposal. ANALYST OPINION: In a note to investors, Wells Fargo stated that it believes that Valeant's low tax rate will enable it to raise its bid. Moreover, one or more big pharmaceutical companies, such as Johnson & Johnson (JNJ) or Merck (MRK), could launch a competing bid for Allergan, added Wells. The firm believes that Allergan could ultimately be purchased for $165 per share. Research firm Jefferies said it expects Allergan's board to oppose Valeant's takeover attempt. The firm suggested that Allergan could seek to fend off Valeant's takeover attempt by acquiring Shire (SHPG) or Jazz Pharmaceuticals (JAZZ). Jefferies kept a Hold rating on Allergan. BMO Capital similarly believes that Valeant will have to overcome significant hurdles in order to complete the deal. The management teams of the two companies have different views and Allergan's business could be damaged by significant cost cutting following the deal, according to the firm. Nonetheless, it kept an Outperform rating on the Botox maker. PRICE ACTION: In mid-morning trading, Allergan rallied 15.5% to $164, Valeant gained 4.4% to $133, Jazz shares rose 6.4% to $147.18 and Shire added 4.8% to $158.62.
10:36 EDTNVSEli Lilly sees Novartis deal as accretive on a cash basis by 2016
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10:00 EDTTEVAOn The Fly: Analyst Initiation Summary
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09:16 EDTGSK, NVSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 8%... Harley-Davidson (HOG), up 7%... PLX Technology (PLXT), up 8%... Illinois Tool (ITW), up 2.3%... Comcast (CMCSA), up 1%... McDonald's (MCD), up 0.6%. ALSO HIGHER: Allergan (AGN), up 17% after Valeant (VRX) confirms proposal to combine with the company for $48.30 and 0.83 shares of stock. Valeant is up 5% following its confirmation of the news that broke last night... GlaxoSmithKline (GSK), up 4.5% after agreeing to sell oncology products for $14.5B to Novartis (NVS) and buy Novartis' Vaccines business, currently excluding its flu business, for $7.1B plus royalties. Novartis shares trading in New York are also up 1% following the deals... Revance Therapeutics (RVNC), up 20% after announcing positive results from RT002 Phase 1/2 study... Facebook (FB), up 2% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Xerox (XRX), down 4%... Lexmark (LXK), down 4.8%. ALSO LOWER: Allison Transmission (ALSN), down 4% after filing to sell 25M shares for holders... FireEye (FEYE), down 2.9% after filing to sell 13.3M shares of common stock for holders... Bebe stores (BEBE), down 16% after reporting preliminary Q3 losses that were steeper than the consensus estimate.
08:49 EDTGSKGSK, Theravance announce Phase III study of FF/VI in Japan
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08:37 EDTGSKTheravance, GlaxoSmithKline receive Australian approval for Breo Ellipta
GlaxoSmithKline (GSK) and Theravance (THRX) announced that the Therapeutic Goods Administration has approved BREO ELLIPTA for the treatment of patients with asthma or chronic obstructive pulmonary disease, or COPD, in Australia. Two strengths of BREO ELLIPTA have been licensed for the treatment of asthma and one strength has been licensed for the treatment of COPD.
07:51 EDTJAZZAllergan could fend off Valeant with acquisition, says Jefferies
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07:50 EDTNVSNovartis CEO Jimenez says bolt-on-buys still could occur, Reuters says
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07:48 EDTGSK, NVSGlaxoSmithKline to host conference call
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07:46 EDTGSK, NVSGlaxo thinks Novartis agreement could mean future disposals, Reuters says
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07:42 EDTTEVATeva initiated with a Buy at Jefferies
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07:41 EDTNVSNovartis to host conference call
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07:11 EDTNVSEli Lilly to host conference call
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05:38 EDTNVSEli Lilly acquires Novartis Animal Health for $5.4B in all-cash transaction
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05:35 EDTNVS, GSKNovartis says transactions 'represent a transformation' for the company
The elements of the transaction with GSK (GSK) are inter-conditional and subject to approval by GSK shareholders. The Novartis (NVS) board unanimously believes that the transactions with GSK and the transaction with Lilly (LLY) are in the best interests of Novartis and the Novartis Shareholders as a whole. The transaction with Lilly is expected to close by the end of 1Q15 and the transaction with GSK is expected to close during the first half of 2015. The terms of the divestment of the Vaccines business would maximize the value of its pipeline, including Bexsero. The divestment of Animal Health would recognize the full value of the business. The transactions are expected to improve Novartis' sales and core operating income growth rates, while improving margins. Each of the transactions is projected to be value creating. The company commented, "These transactions represent a transformation for Novartis. We have leading positions in our core businesses in high-growth segments of healthcare. This will enable us to continue to build the world's most respected and successful healthcare company. Our strategic focus on science-based innovation and our global scale position the company well to meet the changes in the healthcare industry for the coming decade and beyond."
05:29 EDTNVSNovartis divests Animal Health Division to Eli Lilly for about $5.4B
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05:26 EDTGSK, NVSNovartis OTC, GSK Consumer Healthcare form joint venture
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05:23 EDTGSK, NVSNovartis divests Vaccines business to GSK for $7.1B
Novartis (NVS) has agreed to divest its Vaccines business to GSK (GSK), currently excluding its flu business, for $7.1B plus royalties. The $7.1B consists of $5.25B upfront and up to $1.8B in milestones. As a part of a value-maximization strategy in the context of the portfolio review, Novartis has initiated a separate sales process for its flu business.
05:20 EDTGSK, NVSNovartis to acquire GSK oncology products for $14.5B
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April 21, 2014
09:21 EDTTEVAOn The Fly: Pre-Market Movers
HIGHER: Sarepta (SRPT), up 54% after announcing plans to to submit NDA for Eteplirsen by year end 2014. Shares of Prosnesa (RNA), another drugmaker working on a competing DMD drug, are up more than 12%... AstraZeneca (AZN), up 6% after the Sunday Times says that Pfizer (PFE) is considering a takeover bid for the company. Pfizer is up 1.2% following the report... Newmont Mining (NEM), up 8% after WSJ says the company and Barrick Gold (ABX) could resume merger talks as soon as today... Cbeyond (CBEY), up 39% after agreeing to be acquired for about $323M by Birch Communications... Momenta Pharma (MNTA), up 10.5% after the Supreme Court rejected Teva's (TEVA) bid to delay generic Copaxone... Nu Skin (NUS), up 5% after saying its China division will resume corporate-hosted business meetings... Micron (MU), up 4% after price target raised at Drexel Hamilton... DOWN AFTER EARNINGS: Acacia Research (ACTG), down 6%... athenahealth (ATHN), down 5.6%.
08:35 EDTCBSTCubist submits Ceftolozane/tazobactam NDA to FDA
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08:18 EDTTEVA, NVSMomenta Pharma rises after high court rejects Copaxone delay bid
Shares of Momenta Pharmaceuticals (MNTA) are higher in pre-market trading after the Supreme Court denied Teva's (TEVA) request to delay the launch of generic forms of its relapsing-remitting multiple sclerosis product, Copaxone. WHAT'S NEW: Teva confirmed on April 19 that the Chief Justice of the United States denied the company's application for an injunction seeking to prevent the launch of a generic version of Copaxone. Teva will continue pursuing its appeal in the Supreme Court and defending its intellectual property for Copaxone, the company said. WHAT'S NOTABLE: Momenta has developed a generic version of Copaxone in partnership with Novartis' (NVS) Sandoz unit. Mylan, which is preparing to launch a generic version of Copaxone as well, said after the ruling: "We are pleased with the Chief Justice's decision, and we look forward to introducing the first generic Copaxone treatment for multiple sclerosis patients in the U.S. at market formation. Mylan remains eligible to receive approval from the U.S. FDA on May 25, 2014." PRICE ACTION: In pre-market trading, Momenta shares are up over 12% to $12.46, while Mylan shares are up more than 3% to $48.48. Teva shares trading in New York are down about 1.7% to $50 in pre-market trading.
07:56 EDTCBSTCubist price target raised to $90 from $80 at Leerink
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07:38 EDTBPBP refuses U.S. request for Gulf spill research funding, FT says
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07:21 EDTNVSFDA Pediatric Advisory Committee to hold a meeting
The Committee discusses pediatric-focused safety reviews including MDT's Activa Dystonia Therapy, (BAX's Advate and Tisseel, NVS' Famvir, Tibotec's (JNJ subsidiary) Intelence, UCB Pharma's Keppra, MRK's Maxalt, BAYRY's Natazia, Digestive Care's Pertzye, JNJ's Prezista, BMY's Reyataz, SNY's Sklice, PFE's Torisel, Aptalis' Ultresa, and GILD's Viread in a meeting being held in Bethesda, Maryland on April 21 at 8 am. Webcast Link
April 19, 2014
18:50 EDTTEVAMylan says Teva denied injunction seeking to prevent launch of generic Copaxone
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18:32 EDTTEVASupreme Court denies Teva stay in generic Copaxone case
Teva Pharmaceutical Industries announced that while the Chief Justice of the United States found that Teva had demonstrated “a fair prospect of success on the merits” in its appeal of a decision from the United States Court of Appeals for the Federal Circuit that invalidated the claim of U.S. Patent 5,800,808, he denied the company’s application to stay the Federal Circuit's decision due to the potential for the company to recover patent infringement damages. The ‘808 patent expires on September 1, 2015 and claims a process for manufacturing the active ingredient of Teva’s relapsing-remitting multiple sclerosis, RRMS, product, Copaxone 20mg/mL. Teva will continue pursuing its appeal in the Supreme Court and defending its intellectual property for Copaxone. Teva previously prevailed in the District Court, which upheld the validity of nine Copaxone patents, including the ‘808 patent. A ruling last year by the Court of Appeals for the Federal Circuit upheld some of the COPAXONE patents that expire in May, while invalidating the ‘808 patent that is the subject of Teva’s now-granted certiorari petition. Any purported generic version of Copaxone would be required to obtain the approval of the FDA prior to being made available to the public. The inability to fully characterize the active ingredients of the product leads many experts to believe that the only way to ensure the safety, efficacy and immunogenicity of any purported generic version of Copaxone would be through full-scale, placebo-controlled clinical trials with measured clinical endpoints in RRMS patients. The company is confident Copaxone will remain a proprietary, global market leading product for the reduction in the frequency of relapses in RRMS patients over the product’s lifecycle, given the strength of its intellectual property rights.
April 18, 2014
13:32 EDTCBSTCubist announces voluntarily recalling one Cubicin lot
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April 17, 2014
15:55 EDTGSKGlaxoSmithKline, Genmab get FDA approval for Arzerra use
GlaxoSmithKline (GSK) and Genmab (GNMSF) announced that the U.S. FDA has approved a Supplemental Biologic License Application for the use of Arzerra, a CD20-directed monoclonal antibody, in combination with chlorambucil for the treatment of previously untreated patients with chronic lymphocytic leukemia for whom fludarabine-based therapy is considered inappropriate. The FDA approval of the first-line indication is based on results from a Phase III study which demonstrated statistically significant improvement in median progression-free survival in patients who received the combination of ofatumumab and chlorambucil compared to patients who received chlorambucil alone.
15:03 EDTGSKFDA grants wider approval for Glaxo's Arzerra in treatment of CLL
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11:43 EDTGSKGlaxoSmithKline announces Canadian approval for Incruse Ellipta
GlaxoSmithKline announced that Incruse Ellipta has received market authorization in Canada for the long-term once-daily maintenance bronchodilator treatment of airflow obstruction in patients with chronic obstructive pulmonary disease, or COPD, including chronic bronchitis and emphysema. This is the first market authorization granted for this product anywhere in the world, the company noted.
09:59 EDTJAZZOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AcelRx (ACRX) initiated with a Buy at Canaccord... Acorda Therapeutics (ACOR) initiated with a Hold at Canaccord... Alcobra (ADHD) initiated with a Buy at Canaccord... Benefitfocus (BNFT) initiated with a Market Perform at William Blair... Cameron (CAM) initiated with a Buy at Gabelli... Covanta (CVA) initiated with an Outperform at Macquarie... Foundation Medicine (FMI) initiated with a Market Perform at William Blair... Golub Capital (GBDC) initiated with an Outperform at Raymond James... Hanmi Financial (HAFC) initiated with an Outperform at Raymond James... Jazz Pharmaceuticals (JAZZ) initiated with a Buy at Canaccord... Kronos Worldwide (KRO) initiated with a Reduce at SunTrust... Magnum Hunter (MHR) initiated with a Hold at Maxim... Norwegian Cruise Line (NCLH) initiated with a Buy at Longbow... Plum Creek Timber (PCL) initiated with an Outperform at RBC Capital... RF Micro Devices (RFMD) initiated with a Market Perform at BMO Capital... SanDisk (SNDK) assumed with an Overweight at Piper Jaffray... Skyworks (SWKS) initiated with a Market Perform at BMO Capital... TransEnterix (TRXC) initiated with a Buy at Sterne Agee... TriQuint (TQNT) initiated with a Market Perform at BMO Capital... WebMD (WBMD) initiated with an Outperform at William Blair.
08:38 EDTTEVATeva settles patent ligitigation with Pfizer on Celebrex
Teva (TEVA) announced that its subsidiary Teva Pharmaceuticals USA, Inc. has entered into a settlement with Pfizer (PFE) related to Teva’s generic version of Celebrex 50, 100, 200 and 400 mg capsules in the United States. Under the terms of the settlement, Teva may launch its generic versions in December 2014 or earlier under certain circumstances. Teva has received tentative approval from the U.S. Food and Drug Administration for all strengths and believes that it is first-to-file on at least the 100, 200 and 400 mg capsules. Sales of Celebrex were $2.2B in the U.S. according to IMS data as of December, 2013.
07:32 EDTJAZZJazz Pharmaceuticals initiated with a Buy at Canaccord
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07:20 EDTGSKGlaxoSmithKline opens internal probe of bribery allegations, WSJ says
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April 16, 2014
13:51 EDTNVSAlnylam COO critical of big pharma, FierceDrugDelivery reports
After Novartis (NVS) decided to end its RNAi research, Alnylam COO Barry Greene told FierceDrugDelivery that big pharma has "never been able to innovate." Greene attributes the recent sell-off in Alnylam shares to "generally bearish sentiment on Wall Street regarding biotech stocks in particular." Reference Link
11:19 EDTNVSNovartis launches new eye care products facility in Singapore, Nikkei says
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10:00 EDTTEVAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: A10 Networks (ATEN) initiated with a Buy at BofA/Merrill... Actavis (ACT) initiated with a Buy at Sterne Agee... Allergan (AGN) initiated with a Buy at Sterne Agee... Autohome (ATHM) initiated with a Neutral at Credit Suisse... BitAuto (BITA) initiated with an Outperform at Credit Suisse... Centene (CNC) initiated with a Neutral at UBS... Endo International (ENDP) initiated with a Buy at Sterne Agee... FS Investment (FSIC) initiated with an Overweight at Evercore... Hertz (HTZ) initiated with a Buy at Gabelli... Hilton (HLT) initiated with a Hold at Jefferies... Hospira (HSP) initiated with a Neutral at Sterne Agee... ImmunoGen (IMGN) initiated with a Buy at Canaccord... Impax (IPXL) initiated with a Neutral at Sterne Agee... Imperva (IMPV) assumed with a Neutral at Wedbush... Ingredion (INGR) initiated with an Outperform at Credit Suisse... Laredo Petroleum (LPI) initiated with an Outperform at RW Baird... Lpath (LPTN) initiated with a Buy at Canaccord... MediWound (MDWD) initiated with an Outperform at Oppenheimer... Medivation (MDVN) initiated with a Hold at Canaccord... NPS Pharmaceuticals (NPSP) assumed with a Buy at Canaccord... Nimble Storage (NMBL) initiated with a Market Perform at Raymond James... Regeneron (REGN) initiated with a Buy at Canaccord... Salix (SLXP) initiated with a Buy at Sterne Agee... Sibanye Gold (SBGL) initiated with an Outperform at Imperial Capital... Teva (TEVA) initiated with a Neutral at Sterne Agee... Wipro (WIT) assumed with a Hold at Jefferies.
07:00 EDTTEVATeva initiated with a Neutral at Sterne Agee
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April 15, 2014
14:29 EDTGSKGlaxoSmithKline confirms FDA approval for Tanzeum
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12:26 EDTTEVATeva announces launch of generic Lunesta tablets in U.S.
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10:14 EDTGSKFDA approves Tanzeum to treat type 2 diabetes
The Food and Drug Administration approved Tanzeum subcutaneous injection to improve glycemic control, along with diet and exercise, in adults with type 2 diabetes. Tanzeum has a Boxed Warning to warn that tumors of the thyroid gland have been observed in rodent studies with some GLP-1 receptor agonists, but that it is unknown whether Tanzeum causes thyroid C-cell tumors, including a type of thyroid cancer called medullary thyroid carcinoma, in humans. Tanzeum should not be used in patients with a personal or family history of MTC or in patients with Multiple Endocrine Neoplasia syndrome type 2. The FDA approved Tanzeum with a Risk Evaluation and Mitigation Strategy, which consists of a communication plan to inform health care providers about the serious risks associated with Tanzeum. Tanzeum is manufactured by GlaxoSmithKline.
08:23 EDTGSKLeerink's pharma and biotech analysts hold an analyst/industry conference call
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08:06 EDTGSKProsonix, Mylan enter licensing deal for generic version of Flixotide, Flovent
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07:35 EDTNVSAlnylam outlook not affected by Novartis decision, says JMP Securities
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07:22 EDTNVSNovartis to Shire said to mull offers for ThromboGenics, Bloomberg says
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06:36 EDTNVSRanbaxy inspection failures add $900M to heart drug costs, Bloomberg says
A gap in U.S. patent law has kept cheap copies of Novartis' (NVS) heart drug Diovan off the market for 18 months, which has cost U.S. consumers and insurers as much as $900M in possible savings, reported Bloomberg. Ranbaxy (RBXLY) is the only company permitted to sell a generic version of Diovan, and hasn’t been able to manufacture and market them after four factories it runs in India failed U.S. inspections. Reference Link
06:32 EDTGSK, NVSPatients paying much more for specialty drugs, NY Times says
The amount that patients with certain diseases must pay for specialty drugs has increased significantly, a research firm reported, according to The New York Times. Meanwhile, consumers' use of health care increased in 2013 for the firm time in three years, the newspaper quoted the firm, the IMS Institute for Healthcare Informatics, as saying. Publicly traded drug makers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded health insurers include AMERIGROUP (AGP), Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH), WellCare (WCG) and WellPoint (WLP).Reference Link
April 14, 2014
14:42 EDTNVSAlnylam slips after Novartis reportedly cuts back RNAi development
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11:48 EDTNVSNovartis significantly reducing RNAi development efforts, FierceBiotech says
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10:02 EDTBPOn The Fly: Analyst Upgrade Summary
Acorda Therapeutics (ACOR) upgraded to Outperform from Market Perform at FBR Capital... Allegheny Technologies (ATI) upgraded to Neutral from Underperform at Sterne Agee... BP (BP) upgraded to Buy from Hold at Canaccord... Bloomin' Brands (BLMN) upgraded to Buy from Hold at Deutsche Bank... Boardwalk Pipeline (BWP) upgraded to Neutral from Underperform at BofA/Merrill... Boston Scientific (BSX) upgraded at BofA/Merrill... Charles Schwab (SCHW) upgraded to Buy from Neutral at UBS... Citigroup (C) upgraded to Hold from Sell at Rafferty Capital... Community Health (CYH) upgraded to Outperform from Perform at Oppenheimer... Eaton Vance (EV) upgraded to Neutral from Sell at Citigroup... Eli Lilly (LLY) upgraded to Hold from Underperform at Jefferies... F5 Networks (FFIV) upgraded to Buy from Hold at Stifel... HeartWare (HTWR) upgraded to Buy from Neutral at BTIG... Heartland Payment (HPY) upgraded to Hold from Sell at Stifel... Hyatt Hotels (H) upgraded to Outperform from Market Perform at FBR Capital... MasterCard (MA) upgraded to Outperform from Neutral at RW Baird... McDermott (MDR) upgraded to Neutral from Underweight at HSBC... Palo Alto (PANW) upgraded to Overweight at Stephens... PetroChina (PTR) upgraded to Neutral from Underperform at Credit Suisse... Seagate (STX) upgraded to Buy from Hold at Argus... Sensata (ST) upgraded to Buy from Neutral at Citigroup... Stryker (SYK) upgraded to Neutral from Reduce at SunTrust... TD Ameritrade (AMTD) upgraded to Buy from Neutral at UBS... TTM Technologies (TTMI) upgraded to Buy from Hold at Stifel... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... VMware (VMW) upgraded to Outperform from Underperform at CLSA... Visa (V) upgraded to Outperform from Neutral at RW Baird... Yahoo (YHOO) upgraded to Buy from Neutral at SunTrust... Zimmer (ZMH) upgraded to Neutral from Reduce at SunTrust... bebe stores (BEBE) upgraded to Buy from Neutral at Janney Capital.
06:40 EDTGSKGlaxoSmithKline paid bribes to Polish doctors to promote Seretide, BBC says
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05:54 EDTBPBP upgraded to Buy from Hold at Canaccord
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April 11, 2014
08:11 EDTBPBP says can help improve relations between west, Russia, Reuters says
In an effort to calm shareholders' worries over the company's large exposure to Russia, BP executives said it can help improve relations between Russia and the west and is talking to politicians all over the globe, according to Reuters, citing comments from CEO Bob Dudley. Reference Link
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