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27400.0 | 2014-08-28 00:00:00 UTC | Bristol-Myers' Oral HCV Treatment Daklinza Gets EU Clearance - Analyst Blog | ABBV | https://www.nasdaq.com/articles/bristol-myers-oral-hcv-treatment-daklinza-gets-eu-clearance-analyst-blog-2014-08-28 | nan | nan | Good news flowed in at Bristol-Myers Squibb Company ( BMY ) from Europe with the European Commission (EC) approving the biopharmaceutical company's Daklinza as a combination therapy for treating adults infected with genotypes 1, 2, 3 and 4 of chronic hepatitis C virus (HCV). Bristol-Myers stated in its press release that following the EC move Daklinza became the first NS5A complex inhibitor to gain approval in the EU.
The EC approval does not surprise us since the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) had backed the approval of the cocktail therapy earlier in the year. Approval of Daklinza in the EU has brought down the duration of HCV treatment to either 12 or 24 weeks from 48 weeks associated with interferon- and ribavirin-based regimens.
Following the clearance, Daklinza can be used in combination with other drugs including Gilead Sciences' ( GILD ) high-flying HCV treatment Sovaldi. The combination of Daklinza and Sovaldi performed exceedingly well in clinical trials. The combination can be used to treat various types of HCV patients including those with advanced liver disease, genotype 3 and those who have not responded to treatment with protease inhibitors.
Daklinza in combination with Sunvepra received Japanese approval in July for treating patients suffering from the genotype 1 strain of HCV. Bristol-Myers is also looking to get Daklinza-based regimens approved in the U.S. (target date: Nov 30, 2014). Gilead's HCV combination therapy of Sovaldi and ledipasvir is expected to be approved in the U.S. earlier (target date: Oct 10, 2014). AbbVie ( ABBV ) is also looking to bring its HCV combination therapy into the market. We expect investor focus to remain on updates related to HCV combination therapies going forward.
Bristol-Myers carries a Zacks Rank #3 (Hold). A better-ranked stock in the biopharma space is Celgene Corporation ( CELG ) holding a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie ( ABBV ) is also looking to bring its HCV combination therapy into the market. Click to get this free report BRISTOL-MYERS (BMY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report To read this article on Zacks.com click here. Following the clearance, Daklinza can be used in combination with other drugs including Gilead Sciences' ( GILD ) high-flying HCV treatment Sovaldi. | Click to get this free report BRISTOL-MYERS (BMY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie ( ABBV ) is also looking to bring its HCV combination therapy into the market. Gilead's HCV combination therapy of Sovaldi and ledipasvir is expected to be approved in the U.S. earlier (target date: Oct 10, 2014). | Click to get this free report BRISTOL-MYERS (BMY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie ( ABBV ) is also looking to bring its HCV combination therapy into the market. Good news flowed in at Bristol-Myers Squibb Company ( BMY ) from Europe with the European Commission (EC) approving the biopharmaceutical company's Daklinza as a combination therapy for treating adults infected with genotypes 1, 2, 3 and 4 of chronic hepatitis C virus (HCV). | AbbVie ( ABBV ) is also looking to bring its HCV combination therapy into the market. Click to get this free report BRISTOL-MYERS (BMY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report To read this article on Zacks.com click here. Approval of Daklinza in the EU has brought down the duration of HCV treatment to either 12 or 24 weeks from 48 weeks associated with interferon- and ribavirin-based regimens. |
27401.0 | 2014-08-28 00:00:00 UTC | Why Repros Therapeutics Inc. Stock Rocketed Higher | ABBV | https://www.nasdaq.com/articles/why-repros-therapeutics-inc-stock-rocketed-higher-2014-08-28 | nan | nan | Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Repros Therapeutics , a clinical-stage biopharmaceutical company focused on developing therapies to treat hormonal and reproductive system disorders, rocketed higher by as much as 21% after the company announced positive trial data for its lead drug, Androxal, an oral treatment for secondary hypogonadism, after the closing bell Wednesday night.
So what: According to the top-line analysis of its study, which pitted Androxal against AbbVie 's AndroGel, Repros' Androxal exhibited superiority to AndroGel in both of its co-primary endpoints and a number of secondary endpoints. The two primary endpoints included the percentage change in baseline in sperm concentration, and the percentage of responders to the therapy. Overall, Androxal subjects witnessed their sperm concentration increase 5.9%, while AndroGel-treated patients demonstrated a 33.3% reduction from baseline. Furthermore, the responder rate for AndroGel was just 33.3% compared to Androxal which produced a responder rate of 65.9%.
Key secondary endpoints that were met, according to the press release, include "change in the important pituitary signaling hormones LH and FSH; percent of subjects that become severely oligospermic (
With Androxal also shown to be safe and tolerable in its head-to-head against AndroGel, Repros notes that it believes it has enough data to back a new drug application submission to the Food and Drug Administration by the end of this year.
Now what: Based on today's head-to-head data it would appear that Repros' Androxal is superior in many ways to AndroGel. This is an important finding because treating low testosterone is an extremely crowded market, and the FDA hasn't been willing to let therapies that provide no improvement over existing low testosterone drugs onto pharmacy shelves.
For some idea of the market share that Androxal could be looking at if it's approved, AbbVie's AndroGel has brought in $472 million through the first-half of 2014. If Androxal is able to even garner half of that amount it'd be valued (based on its current price) at one times peak sales estimates, which for those who follow the biotech industry regularly know is fairly inexpensive.
Keep in mind there are still regulatory hurdles to overcome here in that no experimental drug is a "sure thing" to be approved by the FDA. Also, launching a drug into a very crowded market for a company with smaller pockets and a less experienced sales staff than many of its peers could make for a bumpy ride for shareholders. Either way, I'm certainly intrigued after today's results and am keeping a close eye on Repros going forward.
Androxal may have plenty of potential, but the opportunity afforded by this revolutionary new technology could leave Repros eating dust!
The best biotech investors consistently reap gigantic profits by recognizing true potential earlier and more accurately than anyone else. Let me cut right to the chase. There is a product in development that will revolutionize not just how we treat a common chronic illness, but potentially the entire health industry. Analysts are already licking their chops at the sales potential. In order to outsmart Wall Street and realize multi-bagger returns you will need The Motley Fool's new free report on the dream-team responsible for this game-changing blockbuster. CLICK HERE NOW .
The article Why Repros Therapeutics Inc. Stock Rocketed Higher originally appeared on Fool.com.
Sean Williamshas no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen nameTMFUltraLong, track every pick he makes under the screen nameTrackUltraLong, and check him out on Twitter, where he goes by the handle@TMFUltraLong.The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insights makes us better investors. The Motley Fool has adisclosure policy .
Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | So what: According to the top-line analysis of its study, which pitted Androxal against AbbVie 's AndroGel, Repros' Androxal exhibited superiority to AndroGel in both of its co-primary endpoints and a number of secondary endpoints. For some idea of the market share that Androxal could be looking at if it's approved, AbbVie's AndroGel has brought in $472 million through the first-half of 2014. If Androxal is able to even garner half of that amount it'd be valued (based on its current price) at one times peak sales estimates, which for those who follow the biotech industry regularly know is fairly inexpensive. | So what: According to the top-line analysis of its study, which pitted Androxal against AbbVie 's AndroGel, Repros' Androxal exhibited superiority to AndroGel in both of its co-primary endpoints and a number of secondary endpoints. For some idea of the market share that Androxal could be looking at if it's approved, AbbVie's AndroGel has brought in $472 million through the first-half of 2014. The two primary endpoints included the percentage change in baseline in sperm concentration, and the percentage of responders to the therapy. | So what: According to the top-line analysis of its study, which pitted Androxal against AbbVie 's AndroGel, Repros' Androxal exhibited superiority to AndroGel in both of its co-primary endpoints and a number of secondary endpoints. For some idea of the market share that Androxal could be looking at if it's approved, AbbVie's AndroGel has brought in $472 million through the first-half of 2014. What: Shares of Repros Therapeutics , a clinical-stage biopharmaceutical company focused on developing therapies to treat hormonal and reproductive system disorders, rocketed higher by as much as 21% after the company announced positive trial data for its lead drug, Androxal, an oral treatment for secondary hypogonadism, after the closing bell Wednesday night. | So what: According to the top-line analysis of its study, which pitted Androxal against AbbVie 's AndroGel, Repros' Androxal exhibited superiority to AndroGel in both of its co-primary endpoints and a number of secondary endpoints. For some idea of the market share that Androxal could be looking at if it's approved, AbbVie's AndroGel has brought in $472 million through the first-half of 2014. The two primary endpoints included the percentage change in baseline in sperm concentration, and the percentage of responders to the therapy. |
27402.0 | 2014-08-27 00:00:00 UTC | Is It Time to Buy AbbVie Stock? | ABBV | https://www.nasdaq.com/articles/it-time-buy-abbvie-stock-2014-08-27 | nan | nan | One month after two big announcements, the dust has settled somewhat for AbbVie . Those major announcements, of course, were a blow-out second quarter and the acquisition of Shire plc .
In the first few days after the news hit the street, AbbVie's stock traded pretty much at the same level that it started off the year. Now, though, shares are up a respectable percentage. With the wind seemingly at its back, would the Magic 8 Ball say that it's time to buy AbbVie stock?
Signs point to yes
The top three reasons to buy AbbVie are as follows: Humira, Humira, and Humira. These redundant (but accurate) answers aren't any different than they were when AbbVie spun off from parent Abbott Labs nearly two years ago.
Humira still reigns as the world's top-selling drug. During the last quarter, it notched an impressive 26% year-over-year sales gain. Only Duodopa increased by a greater percentage, but it only brought in $56 million compared to Humira's $3.28 billion. Humira generated 67% of AbbVie's total revenue, more than two and a half times that of the company's next 10 highest-selling drugs -- combined .
There's no reason to think that Humira is about to hit a brick wall. The drug should continue to power AbbVie's revenue to higher levels. That being said, there are other positives that could impact the stock in both the near term and long term.
The acquisition of Shire, assuming it clears regulatory hurdles, will allow AbbVie to change its domicile to the United Kingdom. This move, known as a tax inversion, would slash the company's effective tax rate from 22.6% to 13% by 2016. Considering that AbbVie paid over $1.2 billion in taxes last year, those tax savings would make a significant difference on the bottom line. Barclay's research indicates that the company could save $500 million annually in taxes even if it doesn't change its domicile.
AbbVie also hopes to make a mark in the oral hepatitis-C drug market currently dominated by Gilead Sciences ' Sovaldi. The company's all-oral regimen is currently under regulatory review in the U.S. and Europe. While Sovaldi boasts some advantages over AbbVie's combo, smart pricing by AbbVie could win nods from commercial and government payers trying to hold down skyrocketing specialty drug costs.
Don't count on it
If we shook the Magic 8 Ball again, however, the answer about whether it's time to buy AbbVie could be different. Probably the biggest reason not to buy shares in the company is because of Humira. Contradictory? Not really.
While Humira isn't about to hit a brick wall in the immediate future, it could encounter some speed bumps. AbbVie expects sales growth for its blockbuster drug to be in the high teens for the third quarter. That's still great, but it's also a slowdown from last quarter.
And there is potentially a looming brick wall ahead: loss of patent exclusivity for Humira in 2016. Novartis ' Sandoz business unit began a phase 3 study of a biosimilar of Humira last December. Should this study prove successful, Humira sales could be hit hard.
AbbVie necessarily won't be able to count on taking a big bite out of Sovaldi's market share. That's because Merck is also nipping at the heels of Gilead with its own hep-C combo. Merck could just as easily play the price card and outgun AbbVie.
Ask again later
For now, AbbVie doesn't appear to be a bad choice for investors. Humira will rock along for at least the next couple of years. The Shire deal should ultimately provide a nice financial boost. Even with the stiff competition, AbbVie's hep-C combo stands a good shot at succeeding commercially. And the 3.2% dividend yield continues to look quite attractive.
Over the longer horizon, though, the situation looks much murkier for AbbVie. The reality is that no one knows if Sandoz will gain approval for its Humira biosimilar. No one knows for sure how the hep-C market will shake out. Buying AbbVie now could lead to some gains. But is this stock one to buy and hold for a long period of time? As the Magic 8 Ball might say, "Ask again later" -- in 2017.
Leaked: This coming blockbuster will make every biotech jealous
The best biotech investors consistently reap gigantic profits by recognizing true potential earlier and more accurately than anyone else. Let me cut right to the chase. There is a product in development that will revolutionize not just how we treat a common chronic illness, but potentially the entire health industry. Analysts are already licking their chops at the sales potential. In order to outsmart Wall Street and realize multi-bagger returns you will need The Motley Fool's new free report on the dream-team responsible for this game-changing blockbuster. CLICK HERE NOW .
The article Is It Time to Buy AbbVie Stock? originally appeared on Fool.com.
Keith Speights owns shares of Gilead Sciences. The Motley Fool recommends and owns shares of Gilead Sciences. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | These redundant (but accurate) answers aren't any different than they were when AbbVie spun off from parent Abbott Labs nearly two years ago. AbbVie also hopes to make a mark in the oral hepatitis-C drug market currently dominated by Gilead Sciences ' Sovaldi. One month after two big announcements, the dust has settled somewhat for AbbVie . | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. One month after two big announcements, the dust has settled somewhat for AbbVie . In the first few days after the news hit the street, AbbVie's stock traded pretty much at the same level that it started off the year. | Signs point to yes The top three reasons to buy AbbVie are as follows: Humira, Humira, and Humira. Humira generated 67% of AbbVie's total revenue, more than two and a half times that of the company's next 10 highest-selling drugs -- combined . While Sovaldi boasts some advantages over AbbVie's combo, smart pricing by AbbVie could win nods from commercial and government payers trying to hold down skyrocketing specialty drug costs. | Signs point to yes The top three reasons to buy AbbVie are as follows: Humira, Humira, and Humira. Don't count on it If we shook the Magic 8 Ball again, however, the answer about whether it's time to buy AbbVie could be different. One month after two big announcements, the dust has settled somewhat for AbbVie . |
27403.0 | 2014-08-26 00:00:00 UTC | 3 Reasons Celgene Corporation's Stock Could Fall | ABBV | https://www.nasdaq.com/articles/3-reasons-celgene-corporations-stock-could-fall-2014-08-26 | nan | nan | If you've been a long-term shareholder in Celgene stock you have very little to complain about. The company's core drug, Revlimid, a treatment for blood-borne cancers, has grown into what's expected to be a $5 billion blockbuster this year, and Abraxane is on pace to receive a number of new indications in the upcoming years. The result, as you can see below, is more than a 1,200% return over the past decade.
CELG data by YCharts
But as investors we're also trained to be realists as well as skeptics. As much as we enjoy when stocks head higher, we also know that no stock can go straight up forever. Headwinds exist against all companies, and investors need to be aware of those headwinds in order to fully understand a stock.
Celgene is currently facing headwinds, which have the potential to send its stock lower. But investors likely wouldn't know about these challenges because they're just scratching the surface of what's going on at the company by reading its quarterly earnings reports. That's why today we're going to dig deeper and highlight three catalysts that could send Celgene's stock lower.
Of course, as you read this bearish thesis, keep in mind that just because headwinds do exist that doesn't mean Celgene stock will head lower. The stock market is a two-way street and companies have just as much of a chance of moving up as they do down. It's the collective sentiment of investors that ultimately determines where a stock is headed next.
Too reliant on Revlimid
Revlimid may be a rapidly growing cancer drug, and it's a key reason Celgene has seen its share price head higher. But when push comes to the shove the company is far too reliant on one drug for the majority of its revenue -- and that can be dangerous.
In the second quarter Celgene reported $1.85 billion in net product sales, of which Revlimid comprised $1.21 billion. To add some context, Revlimid was responsible for 66% of Celgene's product revenue in Q2. The recent approval of Otezla for psoriatic arthritis and expanded indications for cancer drug Abraxane should shift this percentage a bit lower. But even so, I'm not certain it'd drop below 50% of Celgene's annual revenue within the next couple of years.
Bank of America Merrill Lynch 2014 Healthcare Conference presentation. Source: Celgene
While a pillar in the multiple myeloma treatment landscape, it's possible that Revlimid could be facing competition from Amgen 's Kyprolis in a second-line indication if approved by the FDA in the U.S. and European Medicines Agency overseas. Also, AbbVie 's and Bristol-Myers Squibb 's elotuzumab could pose a problem as a second-line therapy. Though elotuzumab is given in combination with Revlimid and a low-dose dexamethasone, going from a Revlimid-based maintenance therapy to something where Celgene is now splitting revenue as a combo therapy could slow its growth potential in the advanced multiple myeloma setting considerably. Also keep in mind that elotuzumab received the breakthrough therapy designation from the FDA in May.
The other problem here is the FDA has introduced the breakthrough therapy designation to expedite the development and potential approval of life-altering drugs. This expedited pathway has the potential to bring new drugs to market faster, like elotuzumab, which can eat into Revlimid's growth potential.
Patent disputes
Not to beat down the Revlimid door again, but since Celgene relies on Revlimid for so much of its annual sales, it needs to keep a tight lid on the patents that protect it from generic competition.
Under normal circumstances drug developers are issued patents that protect a drug for 20 years. The clock on these patents usually starts ticking the day the FDA approves a drug to begin human clinical trials. Therefore, once a drug has gone through clinical studies and received an FDA approval most have around a decade of exclusivity, give or take a couple of years.
Celgene, however, has been vigorously defending its Revlimid patents against the likes of Natco and Mylan , which have filed suits against Celgene in order to bring generic versions of Revlimid (known as lenalidomide) to market.
Wall Street seems to believe that Celgene has the upper hand in the current Natco suit, but if we've learned anything over the years it's that the rulings by the FDA and/or legal courts aren't predictable and can never be taken for granted. Anything is possible when it comes to patent extensions or retractions. If Celgene were to lose its court battles with Natco or Mylan it would either see Revlimid sales plummet since generics are often about 90% cheaper than the innovator drug, or it would likely have mammoth settlements to make to each company to keep them on the sidelines until Revlimid's patents were expected to begin expiring, which in the U.S. is 2027.
Either way, no ruling has been issued in the Natco case as of this writing, and it could be a very negative headwind if the court finds in favor of Natco.
Valuation and shareholder incentive concerns
Finally, skeptics are likely to hone in on the fact that Celgene's shares have more than doubled since CEO Robert Hugin introduced five-year guidance in 2013 that spelled out a doubling in revenue through 2017.
JPMorgan Healthcare Conference presentation slide. Source: Celgene
The result of this extraordinary run higher in Celgene's stock is a company valued at close to 30 times trailing earnings and 19 times forward earnings. That may not sound too bad when you consider the compound growth potential behind those numbers, but its trailing P/E is markedly higher than the S&P 500's current P/E of 19.7.
Also, as Celgene President of Hematology and Oncology Jacqualyn Fouse said during the company's conference call with respect to when a dividend might be considered, "It's a ways out." Celgene is far too busy reinvesting in collaborations and its own pipeline, and has far too little diversity within its existing products, to consider a dividend at this point.
The concern with that thought process is that dividends provide stability. I don't think anyone would question that Celgene is going to stay cash-flow positive at this point. Instead, it's a matter of stability when the U.S. stock market does begin to swoon. As we know, markets don't go up forever. Without a dividend and sporting a higher P/E ratio than the benchmark S&P 500, it's possible that Celgene's downside move could be considerably larger than the benchmark indices when this stock market rally does end.
Tying things together
As we saw last week Celgene has a lot of factors working in its favor. But as we've pointed out this week there are a number of concerns and risks that investors need to come to terms with as well that could send Celgene shares noticeably lower. These are factors that should be chewed on and carefully weighed by current shareholders and on the fence investors.
Revlimid may be a blockbuster, but compared to the revenue potential of this revolutionary technology it's just peanuts!
The best biotech investors consistently reap gigantic profits by recognizing true potential earlier and more accurately than anyone else. Let me cut right to the chase. There is a product in development that will revolutionize not just how we treat a common chronic illness, but potentially the entire health industry. Analysts are already licking their chops at the sales potential. In order to outsmart Wall Street and realize multi-bagger returns you will need The Motley Fool's new free report on the dream-team responsible for this game-changing blockbuster. CLICK HERE NOW .
The article 3 Reasons Celgene Corporation's Stock Could Fall originally appeared on Fool.com.
Sean Williamshas no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen nameTMFUltraLong, track every pick he makes under the screen nameTrackUltraLong, and check him out on Twitter, where he goes by the handle@TMFUltraLong.The Motley Fool recommends Celgene. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also, AbbVie 's and Bristol-Myers Squibb 's elotuzumab could pose a problem as a second-line therapy. Source: Celgene While a pillar in the multiple myeloma treatment landscape, it's possible that Revlimid could be facing competition from Amgen 's Kyprolis in a second-line indication if approved by the FDA in the U.S. and European Medicines Agency overseas. Wall Street seems to believe that Celgene has the upper hand in the current Natco suit, but if we've learned anything over the years it's that the rulings by the FDA and/or legal courts aren't predictable and can never be taken for granted. | Also, AbbVie 's and Bristol-Myers Squibb 's elotuzumab could pose a problem as a second-line therapy. Celgene is currently facing headwinds, which have the potential to send its stock lower. In the second quarter Celgene reported $1.85 billion in net product sales, of which Revlimid comprised $1.21 billion. | Also, AbbVie 's and Bristol-Myers Squibb 's elotuzumab could pose a problem as a second-line therapy. Celgene, however, has been vigorously defending its Revlimid patents against the likes of Natco and Mylan , which have filed suits against Celgene in order to bring generic versions of Revlimid (known as lenalidomide) to market. If Celgene were to lose its court battles with Natco or Mylan it would either see Revlimid sales plummet since generics are often about 90% cheaper than the innovator drug, or it would likely have mammoth settlements to make to each company to keep them on the sidelines until Revlimid's patents were expected to begin expiring, which in the U.S. is 2027. | Also, AbbVie 's and Bristol-Myers Squibb 's elotuzumab could pose a problem as a second-line therapy. Of course, as you read this bearish thesis, keep in mind that just because headwinds do exist that doesn't mean Celgene stock will head lower. This expedited pathway has the potential to bring new drugs to market faster, like elotuzumab, which can eat into Revlimid's growth potential. |
27404.0 | 2014-08-25 00:00:00 UTC | Burger King Plans to Buy Tim Hortons to Alleviate Tax Burden - Analyst Blog | ABBV | https://www.nasdaq.com/articles/burger-king-plans-to-buy-tim-hortons-to-alleviate-tax-burden-analyst-blog-2014-08-25 | nan | nan | Per the Wall Street Journal , Burger King Worldwide, Inc. ( BKW ) is planning to buy Canadian doughnut giant Tim Hortons Inc. ( THI ) and move headquarters to Canada to lower its tax burden.
The two companies would continue to operate on a standalone basis. This merger would reportedly create the world's third-largest fast-food chain with a market capitalization of roughly $18 billion. 3G Capital, a New York-based investment firm that owns the majority of Burger King shares would continue to own the majority shares of the new company as well, with the remainder being held by other shareholders of Tim Hortons and Burger King.
What Led to the Move?
Reportedly, this move is targeted toward deriving benefits from tax inversion. The tax rate in the U.S. is the highest and thus it is logical for firms based in the country to find alternatives to reduce their tax burden. Tax inversion involves the acquisition of a foreign company and subsequently adopting its home country's domicile. Alternatively, the combined entity can create a holding company in a country where tax rate is lower.
Canada's corporate tax rate is reportedly 26.5% compared with 40% in the U.S. Therefore, the deal would allow Burger King to reduce tax liabilities by moving the fast-food chain's base to Canada.
What is the Whole Idea?
Of late, inversion deals have been on the rise. U.S. corporate houses are acquiring companies in nations that offer lower tax rates. By acquiring offshore companies, these U.S. firms are shifting their base and thereby lowering their tax bills.
Since the beginning of 2012, reportedly, at least 21 U.S. companies have announced or completed such deals, primarily in the healthcare sector.
Recent attempts by companies for tax inversion have drawn the attention of some politicians. In fact, President Obama criticized companies that attempted to cut taxes by relocating outside the U.S. Despite the criticism, at least five large American companies including AbbVie Inc. ( ABBV ) and Medtronic, Inc. ( MDT ) have announced plans to make such a move between mid-June and late July.
Conclusion
Over the past few quarters, sales and profits at U.S. fast food restaurants have been dampened due to a weak consumer spending environment and stiff competition. Therefore, these U.S.-based companies are finding alternative ways to alleviate this pressure.
No matter what it costs, trimming the tax burden will eventually enable U.S. firms to have more cash in their pocket. This additional cash along with a better product portfolio and a skilled workforce acquired through acquisitions should help these firms do better. Eventually, this should get reflected in the stock price as well. (Read More: Tax Inversion: Boon for Firms & Investors, Bane for U.S. Treasury. )
Burger King and Tim Hortons both carry a Zacks Rank #3 (Hold).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Despite the criticism, at least five large American companies including AbbVie Inc. ( ABBV ) and Medtronic, Inc. ( MDT ) have announced plans to make such a move between mid-June and late July. Click to get this free report BURGER KING WWD (BKW): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report TIM HORTONS INC (THI): Free Stock Analysis Report To read this article on Zacks.com click here. Per the Wall Street Journal , Burger King Worldwide, Inc. ( BKW ) is planning to buy Canadian doughnut giant Tim Hortons Inc. ( THI ) and move headquarters to Canada to lower its tax burden. | Click to get this free report BURGER KING WWD (BKW): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report TIM HORTONS INC (THI): Free Stock Analysis Report To read this article on Zacks.com click here. Despite the criticism, at least five large American companies including AbbVie Inc. ( ABBV ) and Medtronic, Inc. ( MDT ) have announced plans to make such a move between mid-June and late July. Per the Wall Street Journal , Burger King Worldwide, Inc. ( BKW ) is planning to buy Canadian doughnut giant Tim Hortons Inc. ( THI ) and move headquarters to Canada to lower its tax burden. | Click to get this free report BURGER KING WWD (BKW): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report TIM HORTONS INC (THI): Free Stock Analysis Report To read this article on Zacks.com click here. Despite the criticism, at least five large American companies including AbbVie Inc. ( ABBV ) and Medtronic, Inc. ( MDT ) have announced plans to make such a move between mid-June and late July. 3G Capital, a New York-based investment firm that owns the majority of Burger King shares would continue to own the majority shares of the new company as well, with the remainder being held by other shareholders of Tim Hortons and Burger King. | Despite the criticism, at least five large American companies including AbbVie Inc. ( ABBV ) and Medtronic, Inc. ( MDT ) have announced plans to make such a move between mid-June and late July. Click to get this free report BURGER KING WWD (BKW): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report TIM HORTONS INC (THI): Free Stock Analysis Report To read this article on Zacks.com click here. Alternatively, the combined entity can create a holding company in a country where tax rate is lower. |
27405.0 | 2014-08-21 00:00:00 UTC | GlaxoSmithKline's (GSK) Arnuity Ellipta Approved by FDA - Analyst Blog | ABBV | https://www.nasdaq.com/articles/glaxosmithklines-gsk-arnuity-ellipta-approved-by-fda-analyst-blog-2014-08-21 | nan | nan | GlaxoSmithKline ( GSK ) received positive news when the FDA approved its asthma treatment, Arnuity Ellipta.
Arnuity Ellipta has been approved in doses of 100 mcg and 200 mcg as a once-daily inhaled corticosteroid (ICS) medicine for maintenance treatment of asthma as prophylactic therapy in patients aged 12 years and above. Glaxo had evaluated the efficacy and safety of Arnuity Ellipta in more than 3,600 patients suffering from asthma.
The approval of Arnuity Ellipta should relieve Glaxo as its respiratory product portfolio has been facing challenges of late. Meanwhile, Glaxo's plans to transition and diversify its respiratory portfolio are underway. The transition is expected to continue over the next 2-3 years.
During the second quarter of 2014, Glaxo filed Breo for approval in the U.S. for asthma. In Jul 2014, Glaxo initiated a phase III study, IMPACT, to evaluate the efficacy and safety of the triple combination of FF/UMEC/VI in patients with chronic obstructive pulmonary disease (COPD). Glaxo also plans to file its first biologic, mepolizumab, for severe asthma by the end of 2014.
Increasing competition and pricing pressure has adversely impacted Glaxo's results in recent times. The company expects new products such as Breo, Anoro and Incruse, along with expected approvals to drive sales in the coming quarters. We cautiously watch Glaxo's plans to transform its lagging respiratory business.
Glaxo carries a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the healthcare sector include Allergan ( AGN ), AstraZeneca ( AZN ), and AbbVie ( ABBV ). While Allergan sports a Zacks Rank #1 (Strong Buy), the other two carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the healthcare sector include Allergan ( AGN ), AstraZeneca ( AZN ), and AbbVie ( ABBV ). Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. The approval of Arnuity Ellipta should relieve Glaxo as its respiratory product portfolio has been facing challenges of late. | Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector include Allergan ( AGN ), AstraZeneca ( AZN ), and AbbVie ( ABBV ). While Allergan sports a Zacks Rank #1 (Strong Buy), the other two carry a Zacks Rank #2 (Buy). | Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector include Allergan ( AGN ), AstraZeneca ( AZN ), and AbbVie ( ABBV ). The approval of Arnuity Ellipta should relieve Glaxo as its respiratory product portfolio has been facing challenges of late. | Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector include Allergan ( AGN ), AstraZeneca ( AZN ), and AbbVie ( ABBV ). Glaxo had evaluated the efficacy and safety of Arnuity Ellipta in more than 3,600 patients suffering from asthma. |
27406.0 | 2014-08-21 00:00:00 UTC | Achillion Attains 52-Week High on ACH-3102 Patent Protection - Analyst Blog | ABBV | https://www.nasdaq.com/articles/achillion-attains-52-week-high-on-ach-3102-patent-protection-analyst-blog-2014-08-21 | nan | nan | Achillion Pharmaceuticals, Inc. 's ( ACHN ) shares touched a 52-week high of $10.18 on Aug 20 following its announcement the previous day that the U.S. Patent & Trademark Office (USPTO) has granted a patent (U.S. Patent No. 8,809,313) to the company.
The patent covers the composition-of-matter and method of use claims for the company's hepatitis C virus (HCV) candidate, ACH-3102. The patent also covers structurally related NS5A inhibitors. The patent terms last until 2032.
Achillion's shares jumped more than 9% last week after announcing positive results from a phase II study evaluating a ribavirin-free regimen of ACH-3102 in combination with Gilead's ( GILD ) Sovaldi (sofosbuvir) for the treatment of patients suffering from treatment-naïve genotype 1 chronic HCV infection for eight weeks. Based on the results, Achillion intends to start a six-week treatment regimen of ACH-3102 and Sovaldi (read more: Achillion Pharmaceuticals Soars on Mid-Stage HCV Study Data ).
Achillion has progressed well with its HCV candidates. Apart from ACH-3102, the company's HCV pipeline also has ACH-3422 (phase I ongoing) and sovaprevir (phase II).
The HCV market is currently led by Gilead's Sovaldi. Several other companies like Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are also developing candidates targeting the lucrative HCV market. In fact, the successful development of Achillion's HCV candidates may well turn it to be an attractive acquisition target for these companies.
Achillion carries a Zacks Rank #2 (Buy). Gilead sporting a Zacks Rank #1 (Strong Buy) is also worth considering.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Several other companies like Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are also developing candidates targeting the lucrative HCV market. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. Achillion's shares jumped more than 9% last week after announcing positive results from a phase II study evaluating a ribavirin-free regimen of ACH-3102 in combination with Gilead's ( GILD ) Sovaldi (sofosbuvir) for the treatment of patients suffering from treatment-naïve genotype 1 chronic HCV infection for eight weeks. | Several other companies like Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are also developing candidates targeting the lucrative HCV market. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. Several other companies like Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are also developing candidates targeting the lucrative HCV market. Achillion Pharmaceuticals, Inc. 's ( ACHN ) shares touched a 52-week high of $10.18 on Aug 20 following its announcement the previous day that the U.S. Patent & Trademark Office (USPTO) has granted a patent (U.S. Patent No. | Several other companies like Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are also developing candidates targeting the lucrative HCV market. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. The patent covers the composition-of-matter and method of use claims for the company's hepatitis C virus (HCV) candidate, ACH-3102. |
27407.0 | 2014-08-20 00:00:00 UTC | Novartis to Invest $35M in Gamida Cell for 15% Equity - Analyst Blog | ABBV | https://www.nasdaq.com/articles/novartis-to-invest-%2435m-in-gamida-cell-for-15-equity-analyst-blog-2014-08-20 | nan | nan | Novartis ( NVS ) recently entered into an investment and option agreement with Israel-based Gamida Cell, a company which focuses on stem cell expansion technologies and therapeutic products.
As per the terms of the agreement, Novartis will invest $35 million in Gamida Cell. In exchange, Novartis will receive a 15% stake in Gamida Cell and an option to fully acquire the company.
The option for full acquisition is exercisable for a limited period of time following achievement of certain milestones in connection with the development of pipeline candidate, NiCord. These milestones are expected to be achieved during 2015. Novartis will also be required to pay the other shareholders in Gamida Cell approximately $165 million upon exercising the option along with potential milestone payments of $435 million.
We note that Gamida Cell is developing stem cell therapy for the potential treatment of blood cancers, solid tumors, non-malignant hematological diseases such as sickle cell disease and thalassemia, neutropenia and acute radiation syndrome, autoimmune diseases and genetic metabolic diseases as well as conditions that can be helped by regenerative medicine.
The company is currently evaluating NiCord for the potential treatment of hematological malignancies such as leukemia and lymphoma in a phase I/II study using its proprietary NAM technology.
Meanwhile, enrolment is on for the company's phase I/II study on NiCord for pediatric sickle cell disease.
We remind investors that Novartis has been taking strategic steps to realign its portfolio in order to focus on its core portfolio of pharmaceuticals, eye care and generics. Novartis' recent deal to acquire oncology products from GlaxoSmithKline ( GSK ) and the divestiture of the Vaccines business is a step in the right direction.
Novartis, a large-cap pharma, currently carries a Zacks Rank #3 (Hold). Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock. Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report To read this article on Zacks.com click here. | While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock. Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report To read this article on Zacks.com click here. Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. | Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report To read this article on Zacks.com click here. Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock. | Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock. Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report To read this article on Zacks.com click here. |
27408.0 | 2014-08-20 00:00:00 UTC | 3 Reasons Gilead Science, Inc.’s Stock Could Rise | ABBV | https://www.nasdaq.com/articles/3-reasons-gilead-science-incs-stock-could-rise-2014-08-20 | nan | nan | Gilead Sciences is trading near all-time highs, but there's still potential for the stock price to go even higher. Here are three things that could send shares higher if they come to fruition.
1. Sales of Gilead's hepatitis C drugs don't drop
Talk about a low bar for success. All Gilead really has to do is keep sales from dropping, and investors will be happy.
In the second quarter, Gilead made $2.36 per share on a non-GAAP basis thanks to $3.5 billion in sales of its hepatitis C drug Sovaldi. At that run rate, Gilead is trading at a P/E below 10, and that's with its all-oral cocktail expected to be approved before year's end.
Investors are clearly worried about the long-term stability of its hepatitis C sales. There's expected competition from AbbVie 's all-oral cocktail and others that are further back, and worries over the high prices of the drug. The big "problem" is that the hepatitis C drugs are a cure, so patients only need to take the drug for one course of treatment, unlike its HIV franchise where patients remain on HIV drugs forever.
There are certainly a lot of hepatitis C patients out there, and likely more who don't even know they're infected. Without a doubt, drugmakers will eventually run out of patients; but as long as it doesn't happen relatively quickly and Gilead is able to hold onto a substantial market share, investors should be happy.
2. A strategic acquisition
Sovaldi is a cash cow for Gilead Sciences. In the second quarter alone, Gilead generated $4.2 billion in cash flow from operations. The biotech has used some of the cash to repurchase shares, but that strategy has limited upside; decreasing share count increases EPS, but doesn't offer the growth potential that would come from launching another blockbuster.
Investors should have a lot of confidence in management's strategy after the acquisition of Pharmasset, which brought Sovaldi to Gilead. The purchase clearly panned out despite the high price tag that many investors chided at the time. Shares are up about 400% since the deal was announced.
GILD data by YCharts .
A purchase in the oncology sector could really enhance the prospects for the rest of Gilead's oncology pipeline. The biotech recently got its first oncology drug, Zydelig, approved , but most of the rest of the oncology pipeline is further behind. An acquisition of a couple more approved drugs -- or even late stage compounds -- might make it easier to sell Zydelig from an efficiency standpoint, as well as giving Gilead street cred among oncologists.
3. Gilead Science starts offering a dividend
I'm not sure offering a dividend is the best use of Gilead's cash, but starting a dividend would undoubtedly increase the shareholder base, which should increase the share price. For instance, fellow big-biotech Amgen announced in 2011 that it was going to offer a dividend. Shares are up about 140% since then -- not even including the dividends -- handily beating the S&P500's rise of around 50%. An increasing dividend has undoubtedly helped.
Of the three potential events that could make the stock rise, offering a dividend is probably the least likely of the three to happen in the near future; but if the first two come to fruition, a dividend may not be too far behind. The uncertainty of hepatitis C drug sales is one of the main arguments against a dividend -- the company certainly doesn't want to start a dividend and then stop it down the road. But if robust sales continue, and Gilead continues to mature into what looks more like a pharmaceutical company than a high-growth biotech, offering a dividend would clearly be the next step.
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The article 3 Reasons Gilead Science, Inc.'s Stock Could Rise originally appeared on Fool.com.
Brian Orelli has no position in any stocks mentioned. The Motley Fool recommends Gilead Sciences. The Motley Fool owns shares of Gilead Sciences. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | There's expected competition from AbbVie 's all-oral cocktail and others that are further back, and worries over the high prices of the drug. Without a doubt, drugmakers will eventually run out of patients; but as long as it doesn't happen relatively quickly and Gilead is able to hold onto a substantial market share, investors should be happy. An acquisition of a couple more approved drugs -- or even late stage compounds -- might make it easier to sell Zydelig from an efficiency standpoint, as well as giving Gilead street cred among oncologists. | There's expected competition from AbbVie 's all-oral cocktail and others that are further back, and worries over the high prices of the drug. Sales of Gilead's hepatitis C drugs don't drop Talk about a low bar for success. The biotech recently got its first oncology drug, Zydelig, approved , but most of the rest of the oncology pipeline is further behind. | There's expected competition from AbbVie 's all-oral cocktail and others that are further back, and worries over the high prices of the drug. Gilead Science starts offering a dividend I'm not sure offering a dividend is the best use of Gilead's cash, but starting a dividend would undoubtedly increase the shareholder base, which should increase the share price. Of the three potential events that could make the stock rise, offering a dividend is probably the least likely of the three to happen in the near future; but if the first two come to fruition, a dividend may not be too far behind. | There's expected competition from AbbVie 's all-oral cocktail and others that are further back, and worries over the high prices of the drug. Gilead Sciences is trading near all-time highs, but there's still potential for the stock price to go even higher. Gilead Science starts offering a dividend I'm not sure offering a dividend is the best use of Gilead's cash, but starting a dividend would undoubtedly increase the shareholder base, which should increase the share price. |
27409.0 | 2014-08-19 00:00:00 UTC | Biogen Strengthens MS Portfolio with Plegridy FDA Approval - Analyst Blog | ABBV | https://www.nasdaq.com/articles/biogen-strengthens-ms-portfolio-plegridy-fda-approval-analyst-blog-2014-08-19 | nan | nan | Biogen Idec's ( BIIB ) shares were up slightly (0.62%) on the FDA approval of multiple sclerosis (MS) product, Plegridy (peginterferon beta-1a). The FDA approved Plegridy for the treatment of people with relapsing forms of multiple sclerosis (RMS).
Plegridy Pen, a ready-to-use autoinjector, or a prefilled syringe can be used to administer Plegridy subcutaneously. Plegridy's less frequent dosing schedule (once every two weeks) could help it gain share from other beta interferon treatments that are currently available.
Meanwhile, data on Plegridy showed that it significantly reduced annualized relapse rate at one year by 36% compared to placebo. The risk of 12-week confirmed disability progression was down by 38% in patients on Plegridy compared to placebo. Plegridy also significantly reduced the number of new gadolinium-enhancing lesions (by 86%) and reduced new or newly enlarging T2-hyperintense lesions (67%) compared to placebo
With Plegridy's approval, Biogen has strengthened its MS portfolio further. Biogen's MS portfolio consists of drugs like Avonex, Tysabri and Tecfidera.
Tecfidera's performance has been impressive since launch and it holds a leading position in the oral MS market and could very soon be the leading MS treatment in the U.S. We expect the drug to do well in the EU also where it was launched in Feb 2014.
Biogen has another MS candidate in its pipeline - daclizumab. Biogen and partner AbbVie ( ABBV ) reported positive top-line results on daclizumab and are looking to file for approval.
Biogen is a Zacks Rank #3 (Hold) stock. Some better-ranked stocks in the biotech sector include Gilead Sciences Inc. ( GILD ) and Celgene Corporation ( CELG ). While Gilead is a Zacks Rank #1 (Strong Buy) stock, Celgene is a Zacks Rank #2 (Buy) stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Biogen and partner AbbVie ( ABBV ) reported positive top-line results on daclizumab and are looking to file for approval. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen Idec's ( BIIB ) shares were up slightly (0.62%) on the FDA approval of multiple sclerosis (MS) product, Plegridy (peginterferon beta-1a). | Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen and partner AbbVie ( ABBV ) reported positive top-line results on daclizumab and are looking to file for approval. While Gilead is a Zacks Rank #1 (Strong Buy) stock, Celgene is a Zacks Rank #2 (Buy) stock. | Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen and partner AbbVie ( ABBV ) reported positive top-line results on daclizumab and are looking to file for approval. Plegridy also significantly reduced the number of new gadolinium-enhancing lesions (by 86%) and reduced new or newly enlarging T2-hyperintense lesions (67%) compared to placebo With Plegridy's approval, Biogen has strengthened its MS portfolio further. | Biogen and partner AbbVie ( ABBV ) reported positive top-line results on daclizumab and are looking to file for approval. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen Idec's ( BIIB ) shares were up slightly (0.62%) on the FDA approval of multiple sclerosis (MS) product, Plegridy (peginterferon beta-1a). |
27410.0 | 2014-08-15 00:00:00 UTC | Why Achillion Pharmaceuticals, Inc. Stock Soared | ABBV | https://www.nasdaq.com/articles/why-achillion-pharmaceuticals-inc-stock-soared-2014-08-15 | nan | nan | Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Achillion Pharmaceuticals , a clinical-stage biopharmaceutical company focused on developing therapies to treat hepatitis C, vaulted higher by as much as 21% after reporting positive data from an eight-week midstage study involving the combination of ACH-3102 and Gilead Sciences Sovaldi for genotype one patients.
So what: According to Achillion's early morning press release, the company's NS5A inhibitor, ACH-3102, when combined with Sovaldi over eight weeks, and without a ribavirin (which has been shown over the years to have its own unpleasant side effects), delivered a sustained virologic response in 100% of the 12 patients tested four weeks after treatment. Achillion plans on testing an additional 12 patients over a six-week, once-daily, treatment course of ACH-3102 and Sovaldi, and reporting its findings before year's end. Achillion also notes that ACH-3102 appeared safe and well-tolerated.
Now what: This is an important step for Achillion Pharmaceuticals because Gilead's Sovaldi is already on pharmacy shelves and racking up billions in sales, while AbbVie 's direct-acting antiviral combo is under review and on pace for a possible approval given its impressive clinical efficacy. Achillion needs to play catch-up as quickly as possible, and 100% SVR is certainly one way to open Wall Street and the medical community's eyes.
However, a few things to keep in context here. The studies conducted by Gilead and AbbVie that merited Sovaldi's approval and a new drug application from AbbVie were much larger than 12 patients. Obviously Achillion is going to need to run larger-scale phase three studies to demonstrate efficacy before the Food and Drug Administration would even consider an approval, but keep the size of this successful trial in mind as you wrap your hands around an appropriate valuation for Achillion.
Also, keep Achillion's development history in focus. It hasn't been able to move any compounds within its pipeline beyond phase two up until this point, so investors should be considering whether it has the funding and expertise to mount a successful large-scale phase three campaign and, assuming good results, the know-how to market an approved therapy.
Treating hepatitis C may represent a big opportunity for the biotech sector, but the potential growth behind this revolutionary technology may dwarf it!
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The article Why Achillion Pharmaceuticals, Inc. Stock Soared originally appeared on Fool.com.
Sean Williamshas no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen nameTMFUltraLong, track every pick he makes under the screen nameTrackUltraLong, and check him out on Twitter, where he goes by the handle@TMFUltraLong.The Motley Fool owns shares of, and recommends Gilead Sciences. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Now what: This is an important step for Achillion Pharmaceuticals because Gilead's Sovaldi is already on pharmacy shelves and racking up billions in sales, while AbbVie 's direct-acting antiviral combo is under review and on pace for a possible approval given its impressive clinical efficacy. The studies conducted by Gilead and AbbVie that merited Sovaldi's approval and a new drug application from AbbVie were much larger than 12 patients. What: Shares of Achillion Pharmaceuticals , a clinical-stage biopharmaceutical company focused on developing therapies to treat hepatitis C, vaulted higher by as much as 21% after reporting positive data from an eight-week midstage study involving the combination of ACH-3102 and Gilead Sciences Sovaldi for genotype one patients. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Now what: This is an important step for Achillion Pharmaceuticals because Gilead's Sovaldi is already on pharmacy shelves and racking up billions in sales, while AbbVie 's direct-acting antiviral combo is under review and on pace for a possible approval given its impressive clinical efficacy. The studies conducted by Gilead and AbbVie that merited Sovaldi's approval and a new drug application from AbbVie were much larger than 12 patients. | Now what: This is an important step for Achillion Pharmaceuticals because Gilead's Sovaldi is already on pharmacy shelves and racking up billions in sales, while AbbVie 's direct-acting antiviral combo is under review and on pace for a possible approval given its impressive clinical efficacy. The studies conducted by Gilead and AbbVie that merited Sovaldi's approval and a new drug application from AbbVie were much larger than 12 patients. What: Shares of Achillion Pharmaceuticals , a clinical-stage biopharmaceutical company focused on developing therapies to treat hepatitis C, vaulted higher by as much as 21% after reporting positive data from an eight-week midstage study involving the combination of ACH-3102 and Gilead Sciences Sovaldi for genotype one patients. | Now what: This is an important step for Achillion Pharmaceuticals because Gilead's Sovaldi is already on pharmacy shelves and racking up billions in sales, while AbbVie 's direct-acting antiviral combo is under review and on pace for a possible approval given its impressive clinical efficacy. The studies conducted by Gilead and AbbVie that merited Sovaldi's approval and a new drug application from AbbVie were much larger than 12 patients. What: Shares of Achillion Pharmaceuticals , a clinical-stage biopharmaceutical company focused on developing therapies to treat hepatitis C, vaulted higher by as much as 21% after reporting positive data from an eight-week midstage study involving the combination of ACH-3102 and Gilead Sciences Sovaldi for genotype one patients. |
27411.0 | 2014-08-11 00:00:00 UTC | Achillion Pharmaceuticals Up on Narrower-than-Expected Loss - Analyst Blog | ABBV | https://www.nasdaq.com/articles/achillion-pharmaceuticals-up-on-narrower-than-expected-loss-analyst-blog-2014-08-11 | nan | nan | The share price of Achillion Pharmaceuticals, Inc. ( ACHN ) was up 5.14% after the company announced its second quarter results on Aug 7. Achillion reported a second quarter 2014 loss of 16 cents per share, narrower than the Zacks Consensus Estimate of a loss of 18 cents and the loss of 21 cents recorded in the second quarter of 2013.
Achillion Pharmaceuticals Inc - Earnings Surprise | FindTheBest
Achillion did not record any revenues in the second quarter 2014 and so was the case in second quarter 2013.
Quarter in Detail
In the second quarter of 2014, general and administrative expenses increased a slight 1.2% to $3.6 million due to increased corporate legal and insurance costs. Research and development (R&D) expenses fell 26.5% year over year to $12.2 million, reflecting lower investment in pipeline.
Achillion primarily focuses on developing therapies for hepatitis C virus (HCV) infection. The company has initiated several studies on its HCV candidates including ACH-3102 (phase II), ACH-3422 (phase I/Ib ongoing, data should mature in fall of 2014) and sovaprevir (phase II).
In Jun 2014, the FDA removed the clinical hold on sovaprevir, which is an NS3/4A protease inhibitor. We remind investors that the regulatory body had placed a clinical hold on sovaprevir in June last year after observing elevations in liver enzymes in a phase I study. The FDA has now allowed Achillion to conduct studies with once daily sovaprevir (a maximum of 200 mg) in patients suffering from HCV and in single dose trials on healthy volunteers. However, the FDA maintained a partial clinical hold and stated that prior review and approval of the protocol will be required if the company needs to conduct multiple dose studies in healthy volunteers.
We believe that in the near term investor focus will be on Achillion's HCV pipeline candidates. The HCV market is currently led by Gilead Sciences ( GILD ). Gilead's HCV treatment Sovaldi (launched in Dec 2013) generated revenues of approximately $3.5 billion in the second quarter of 2014. Moreover, the company is looking to get a combination therapy of ledipasvir and Sovaldi approved in the U.S. and EU. Several big pharma/biotech including Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are developing therapies targeting the lucrative HCV market.
Achillion carries a Zacks Rank #3 (hold). Investors looking for better-ranked stocks may consider companies like Gilead carrying a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Several big pharma/biotech including Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are developing therapies targeting the lucrative HCV market. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. We remind investors that the regulatory body had placed a clinical hold on sovaprevir in June last year after observing elevations in liver enzymes in a phase I study. | Several big pharma/biotech including Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are developing therapies targeting the lucrative HCV market. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. Several big pharma/biotech including Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are developing therapies targeting the lucrative HCV market. Achillion reported a second quarter 2014 loss of 16 cents per share, narrower than the Zacks Consensus Estimate of a loss of 18 cents and the loss of 21 cents recorded in the second quarter of 2013. | Several big pharma/biotech including Merck & Co. Inc. ( MRK ) and AbbVie Inc. ( ABBV ) are developing therapies targeting the lucrative HCV market. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. Achillion Pharmaceuticals Inc - Earnings Surprise | FindTheBest Achillion did not record any revenues in the second quarter 2014 and so was the case in second quarter 2013. |
27412.0 | 2014-08-05 00:00:00 UTC | AbbVie's ABT-414 Receives Orphan Drug Status in U.S. and EU - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvies-abt-414-receives-orphan-drug-status-in-u.s.-and-eu-analyst-blog-2014-08-05 | nan | nan | AbbVie 's ( ABBV ) oncology candidate ABT-414 received orphan drug status in the U.S. and the EU for the treatment of glioblastoma multiforme. AbbVie is developing ABT-414 with certain components in-licensed from Life Science Pharmaceuticals, Inc. and Seattle Genetics ( SGEN ).
Orphan drug status is granted to treatments being developed for rare diseases (affecting less than 200,000 people in the U.S. and up to 5 out of 10,000 people in the EU).
Glioblastoma multiforme is the most common and aggressive type of malignant primary brain tumor. According to the press release issued by AbbVie, 2−3 out of 100,000 people in the U.S. and Europe are diagnosed with glioblastoma multiforme each year, with a five-year survival rate of only 4% (approximately). After nearly 15 months of diagnosis, patients are found to succumb to their disease.
Currently, ABT-414 is in a phase II program for the treatment of glioblastoma multiforme.
Considering the limited treatment options for glioblastoma multiforme, there is urgent need for new treatments in this field. If successfully developed and commercialized, ABT-414 will boost the company's portfolio.
Meanwhile, Tocagen Inc.'s Toca 511 in combination with Toca FC is also under development for the treatment of glioblastoma multiforme.
We remind investors that AbbVie is working on strengthening its portfolio. In Jul 2014, the company announced its plans to acquire Shire plc ( SHPG ). This deal makes AbbVie the latest to join a string of U.S. health care companies that have been looking towards overseas acquisitions to lower their tax rates.
AbbVie will not just lower its taxes through this acquisition; it will also boost its product portfolio significantly. This acquisition is very important for the company, which was mainly dependent on a single drug, Humira, for growth.
AbbVie carries a Zacks Rank #3 (Hold). A better-ranked stock in the biotech sector is Actelion ( ALIOF ), carrying a Zacks Rank #1 (Strong Buy). Seattle Genetics carries a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie 's ( ABBV ) oncology candidate ABT-414 received orphan drug status in the U.S. and the EU for the treatment of glioblastoma multiforme. According to the press release issued by AbbVie, 2−3 out of 100,000 people in the U.S. and Europe are diagnosed with glioblastoma multiforme each year, with a five-year survival rate of only 4% (approximately). This deal makes AbbVie the latest to join a string of U.S. health care companies that have been looking towards overseas acquisitions to lower their tax rates. | Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACTELION LTD (ALIOF): Get Free Report SEATTLE GENETIC (SGEN): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie 's ( ABBV ) oncology candidate ABT-414 received orphan drug status in the U.S. and the EU for the treatment of glioblastoma multiforme. AbbVie is developing ABT-414 with certain components in-licensed from Life Science Pharmaceuticals, Inc. and Seattle Genetics ( SGEN ). | AbbVie 's ( ABBV ) oncology candidate ABT-414 received orphan drug status in the U.S. and the EU for the treatment of glioblastoma multiforme. Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACTELION LTD (ALIOF): Get Free Report SEATTLE GENETIC (SGEN): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie is developing ABT-414 with certain components in-licensed from Life Science Pharmaceuticals, Inc. and Seattle Genetics ( SGEN ). | AbbVie 's ( ABBV ) oncology candidate ABT-414 received orphan drug status in the U.S. and the EU for the treatment of glioblastoma multiforme. This deal makes AbbVie the latest to join a string of U.S. health care companies that have been looking towards overseas acquisitions to lower their tax rates. AbbVie is developing ABT-414 with certain components in-licensed from Life Science Pharmaceuticals, Inc. and Seattle Genetics ( SGEN ). |
27413.0 | 2014-07-31 00:00:00 UTC | 3 Eye-Catching Health Care Stocks this Earnings Season - Earnings ESP | ABBV | https://www.nasdaq.com/articles/3-eye-catching-health-care-stocks-this-earnings-season-earnings-esp-2014-07-31 | nan | nan | After the patent cliff, many health care companies now have fewer blockbuster products. Flimsy pipelines are also a matter of concern. Although new products are being introduced, it will be several years before they are able to generate revenues at the same levels as the blockbuster drugs that have gone off-patent.
As a result, health care companies are now resorting to share buybacks, restructuring, streamlining of operations by divesting non core/redundant assets, cost cutting through job cuts and lowering operating expenses, which include cutting research and development (R&D) expenses, to boost the bottom line.
Another trend that has picked up lately is tax-saving reverse mergers. Earlier this month, AbbVie Inc. ( ABBV ) entered into an agreement to acquire Shire ( SHPG ). The deal is valued at approximately $54.5 billion. The deal is expected to reduce AbbVie's effective tax rate to approximately 13% by 2016 from the current effective tax rate in the low twenties. Earlier this year, Pfizer Inc. ( PFE ) was actively pursuing AstraZeneca ( AZN ) primarily motivated by potential tax benefits. However, the deal did not materialize.
Tax saving is not the sole motivation behind reinvigorated M&A activities in the health care sector currently. Cash rich companies are on the lookout for other players that have a portfolio of potential multi-million dollar products or lucrative pipeline candidates. Actavis ( ACT ) acquired Forest Laboratories for a cash and equity combination of $28 billion to boost its branded product portfolio. Valeant Pharmaceuticals International, Inc. ( VRX ) is also looking to acquire Allergan ( AGN ) to strengthen its portfolio. Allergan has rejected Valeant's latest acquisition offer.
Several health care companies are also entering into licensing deals to augment their pipeline. Immuno-oncology seems to be one of the favorite therapeutic areas in this regard. In the last couple of months, we saw a number of deals whereby large cap health care companies have shown interest in developing immuno-oncology therapies. Eli Lilly and Company ( LLY ) entered into a co-discovery and co-development agreement with privately held Immunocore Limited for the research and development of new T cell-based cancer treatments. Before that, Pfizer Inc. ( PFE ) entered into an agreement with the French biopharmaceutical company, Cellectis, to develop chimeric antigen receptor T-cell immunotherapies directed at select oncology related targets.
Thus, it may be a good idea to look at some of these companies in the health care sector that have the potential to beat earnings in their upcoming releases. These stocks are well positioned in today's market environment, and could see considerable upside riding on the aforementioned trends. An earnings beat should help these stocks gain investor confidence and show a favorable price movement.
How to Pick?
Given a large number of industry participants, pinpointing stocks that have the potential to beat estimates could appear to be a daunting task. But our proprietary methodology makes it fairly simple. One way to narrow down the list of choices this earnings season is by looking at stocks that have the combination of a favorable Zacks Rank - Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) - and a positive Zacks Earnings ESP (Expected Surprise Prediction).
Earnings ESP is our proprietary methodology for identifying stocks that have high chances of surprising in their next earnings announcement. It shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate.
Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as high as 70%.
Below are three health care stocks we believe are best positioned to stand out this earnings season.
ARIAD Pharmaceuticals, Inc. ( ARIA ), based in Cambridge, MA and Lausanne, Switzerland, is a Zacks Rank #3 (Hold) stock with an Earnings ESP of +3.70%. The Zacks Consensus Estimate for the second quarter is a loss of 27 cents. The company has a solid track record of delivering positive surprises with an average beat of 13.59% in the last four quarters. The company is expected to beat expectations in the second quarter as well.
ARIAD is a global oncology company focused on the development and commercialization of new medicines to advance the treatment of chronic and acute leukemia, lung cancer and other difficult-to-treat cancer forms. The company's sole marketed drug, Iclusig, approved for chronic myeloid leukemia and Philadelphia chromosome-positive acute lymphoblastic leukemia should continue to drive revenues.
- ARIAD is scheduled to announce its second quarter 2014 financial results before the opening bell on Aug 6.
ImmunoGen, Inc. ( IMGN ) is a Zacks Rank #3 stock with an Earnings ESP of +13.89%. The Zacks Consensus Estimate for fiscal fourth quarter 2014 (ended Jun 30) is a loss of 36 cents. The company has registered positive earnings surprises in three of the last four quarters with an average beat of 58.43%.
The Waltham, MA-based biopharmaceutical company is engaged in the development of antibody-drug conjugates for the treatment of cancer. ImmunoGen's revenues comprise research and development support fees, license and milestone fees, royalty revenues and clinical material revenues. The company has partnerships with several big companies including Roche (RHHBY) and Sanofi (SNY). ImmunoGen receives royalties on sales of oncology drug, Kadcyla, under an agreement with Roche. With Kadcyla continuing to perform well, royalty revenues should improve.
- ImmunoGen will be reporting fiscal fourth quarter 2014 results before market opens on Aug 1.
Durata Therapeutics, Inc. ( DRTX ), based in Chicago, IL, is focused on the development and commercialization of new therapeutics for patients with infectious diseases and acute illnesses. The stock carries a Zacks Rank #2, with an Earnings ESP of +6.85%. The Zacks Consensus Estimate for the to-be-reported quarter is a 73 cent loss.
Although the surprise history for the stock has been unimpressive, it is poised for a beat this second quarter. The company received a major boost during the quarter when the FDA approved its antibiotic Dalvance for treating adults suffering from acute bacterial skin and skin structure infections caused by susceptible gram-positive bacteria, including methicillin resistant staphylococcus aureus.
- Durata is set to report second quarter 2014 earnings on Aug 7 before market opens.
Bottom Line
While challenges in the form of increasing competition and pricing pressure remain in the health care sector, a number of health care companies are seeing improvements in their financial results. The companies are nevertheless looking for better strategies to emerge as winners. A sneak peek at the space for some outperformers, backed by a solid Zacks Rank and a positive Zacks Earnings ESP, could be a great idea for investors to gain from this earnings season.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier this month, AbbVie Inc. ( ABBV ) entered into an agreement to acquire Shire ( SHPG ). The deal is expected to reduce AbbVie's effective tax rate to approximately 13% by 2016 from the current effective tax rate in the low twenties. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report LILLY ELI & CO (LLY): Free Stock Analysis Report ARIAD PHARMA (ARIA): Free Stock Analysis Report IMMUNOGEN INC (IMGN): Free Stock Analysis Report DURATA THERAPT (DRTX): Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report LILLY ELI & CO (LLY): Free Stock Analysis Report ARIAD PHARMA (ARIA): Free Stock Analysis Report IMMUNOGEN INC (IMGN): Free Stock Analysis Report DURATA THERAPT (DRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Earlier this month, AbbVie Inc. ( ABBV ) entered into an agreement to acquire Shire ( SHPG ). The deal is expected to reduce AbbVie's effective tax rate to approximately 13% by 2016 from the current effective tax rate in the low twenties. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report LILLY ELI & CO (LLY): Free Stock Analysis Report ARIAD PHARMA (ARIA): Free Stock Analysis Report IMMUNOGEN INC (IMGN): Free Stock Analysis Report DURATA THERAPT (DRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Earlier this month, AbbVie Inc. ( ABBV ) entered into an agreement to acquire Shire ( SHPG ). The deal is expected to reduce AbbVie's effective tax rate to approximately 13% by 2016 from the current effective tax rate in the low twenties. | Earlier this month, AbbVie Inc. ( ABBV ) entered into an agreement to acquire Shire ( SHPG ). The deal is expected to reduce AbbVie's effective tax rate to approximately 13% by 2016 from the current effective tax rate in the low twenties. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report LILLY ELI & CO (LLY): Free Stock Analysis Report ARIAD PHARMA (ARIA): Free Stock Analysis Report IMMUNOGEN INC (IMGN): Free Stock Analysis Report DURATA THERAPT (DRTX): Free Stock Analysis Report To read this article on Zacks.com click here. |
27414.0 | 2014-07-29 00:00:00 UTC | Pfizer Beats on Q2 Earnings, Revs Despite Generic Pressures - Analyst Blog | ABBV | https://www.nasdaq.com/articles/pfizer-beats-q2-earnings-revs-despite-generic-pressures-analyst-blog-2014-07-29 | nan | nan | Pfizer Inc. ( PFE ) posted second quarter 2014 earnings of 58 cents per share, a couple of cents above the Zacks Consensus Estimate and 4% above the year-ago earnings. Revenues, which declined 2% to $12.8 billion, were above the Zacks Consensus Estimate of $12.4 billion.
Revenues were impacted by the loss of exclusivity of certain products including Detrol LA (in the U.S.), the expiry of the Spiriva collaboration in some countries and the Enbrel agreement.
Pfizer Inc - Earnings Surprise | FindTheBest
The Quarter in Detail
While foreign exchange rates cut Pfizer's second quarter revenues by $87 million or 1%, operational factors cut revenues by $113 million or 1%. International revenues remained flat at $7.9 billion. Meanwhile, U.S. revenues declined 4% to $4.9 billion.
Although the Global Established Pharmaceutical (GEP) and Global Innovative Pharmaceutical (GIP) segments recorded a decline in revenues in the second quarter, the Global Oncology, Global Vaccines and Consumer Healthcare segments recorded growth.
The GEP segment recorded a 6% decline in revenues, which came in at $6.5 billion. Factors like the presence of additional generic competition for Detrol LA in the U.S., Viagra in several EU markets, and Aricept in Canada and the termination of the Spiriva collaboration in most countries led to the decline. However, Lyrica continued to perform well with total sales coming in at $1.3 billion, up 16%.
GIP segment revenues declined 5% to $3.5 billion reflecting the end of the Enbrel co-promotion agreement and the Feb 2013 loss of exclusivity for Lyrica in Canada. This was partially offset by the performance of Lyrica in the U.S. and Japan, Eliquis across the world and Xeljanz in the U.S.
Consumer Healthcare revenues bounced back this quarter with revenues increasing 14% to $912 million. Revenues benefited from the May 2014 launch of Nexium 24HR.
Global Oncology revenues increased 16% to $570 million with performance being driven by Inlyta and Xalkori across the world. However, Sutent revenues were weak due to the timing of purchases in China.
Global Vaccine revenues grew 13% to $1.1 billion. Prevnar 13 was positively impacted by government purchasing patterns and higher demand.
Selling, informational and administrative (SI&A) expenses declined 2% to $3.5 billion during the quarter. R&D expenses increased 13% to $1.7 billion.
Maintains Earnings Outlook but Cuts Revenue Guidance
Pfizer maintained its earnings outlook for 2014 at $2.20 - $2.30 per share but cut its revenue guidance to $48.7 billion - $50.7 billion (old guidance: $49.2 billion - $51.2 billion) reflecting the impact of the genericization of Celebrex from Dec 2014. The Zacks Consensus Estimate for earnings and revenues is currently $2.25 per share and $49.2 billion, respectively.
Pfizer expects SI&A spend of $13.3 billion to $14.3 billion (old guidance: $13.5 billion - $14.5 billion) and R&D spend of $6.7 billion to $7.2 billion (old guidance: $6.4 billion - $6.9 billion). SI&A spend is expected to be lower due to a cut in promotional efforts for Celebrex from the second half of the year.
R&D guidance was increased to reflect the impact of the planned $80 million upfront payment to Cellectis as well as higher expenses related to the planned acceleration of late-stage clinical programs, including for palbociclib and bococizumab.
Meanwhile, Pfizer, which repurchased shares worth $2.9 billion through Jul 28, expects to buy back shares worth $5 billion in 2014.
Our Take
Pfizer's second quarter results were better-than-expected with the company beating on both earnings and revenues despite the presence of generic competition. However, the company's top-line remains under pressure as later this year Celebrex generics are expected to enter the market.
We believe genericization and the expiration of a few co-promotion agreements will continue to hamper top-line growth. However, cost-cutting efforts and share buybacks should help Pfizer achieve its earnings guidance. Expectations remain high that Pfizer will resume its efforts to acquire AstraZeneca ( AZN ).
Pfizer is a Zacks Rank #3 (Hold) stock. Some better-ranked stocks in the health care sector include Allergan ( AGN ), AstraZeneca and AbbVie ( ABBV ). While Allergan is a Zacks Rank #1 (Strong Buy) stock, AstraZeneca and AbbVie hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the health care sector include Allergan ( AGN ), AstraZeneca and AbbVie ( ABBV ). While Allergan is a Zacks Rank #1 (Strong Buy) stock, AstraZeneca and AbbVie hold a Zacks Rank #2 (Buy). Click to get this free report PFIZER INC (PFE): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report PFIZER INC (PFE): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include Allergan ( AGN ), AstraZeneca and AbbVie ( ABBV ). While Allergan is a Zacks Rank #1 (Strong Buy) stock, AstraZeneca and AbbVie hold a Zacks Rank #2 (Buy). | Click to get this free report PFIZER INC (PFE): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include Allergan ( AGN ), AstraZeneca and AbbVie ( ABBV ). While Allergan is a Zacks Rank #1 (Strong Buy) stock, AstraZeneca and AbbVie hold a Zacks Rank #2 (Buy). | Some better-ranked stocks in the health care sector include Allergan ( AGN ), AstraZeneca and AbbVie ( ABBV ). While Allergan is a Zacks Rank #1 (Strong Buy) stock, AstraZeneca and AbbVie hold a Zacks Rank #2 (Buy). Click to get this free report PFIZER INC (PFE): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. |
27415.0 | 2014-07-29 00:00:00 UTC | Novo Nordisk Diabetes Drug Xultophy Gets Positive CHMP View - Analyst Blog | ABBV | https://www.nasdaq.com/articles/novo-nordisk-diabetes-drug-xultophy-gets-positive-chmp-view-analyst-blog-2014-07-29 | nan | nan | Pipeline updates are highly awaited events in the pharma/biotech sector as they play an important role in deciding whether or not to invest in a particular company. These updates provide information on experimental drugs and at times give an insight into the commercial potential of the candidate once it is successfully developed and commercialized.
Novo Nordisk 's ( NVO ) type II diabetes candidate, Xultophy (IDegLira), received a positive opinion from the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP). Xultophy is a once-daily single injection combination of Novo Nordisk's Tresiba (insulin degludec) and Victoza.
The CHMP recommended the approval of Xultophy for the treatment of adults suffering from type II diabetes in combination with glucose-lowering oral drugs, when such drugs (alone or combined with basal insulin) fail to achieve adequate glycemic control.
A response from the EC is expected by Oct 2014. Novo Nordisk intends to launch Xultophy in Europe in the first half of 2015.
We are encouraged by the CHMP's opinion on Xultophy and believe chances of gaining approval are high. Although the European Commission (EC) is not bound to accept the recommendations of the CHMP, it usually does so.
We note that in two phase III studies (DUAL I and II), patients treated with Xultophy experienced a lower rate of hypoglycemia, compared to Tresiba. The patients also achieved body weight reduction compared to basal insulin treatment.
We remind investors that Novo Nordisk's Victoza 3mg is also under review in the EU for the treatment of adults suffering from obesity and overweight adults with comorbidities such as hypertension, dyslipidemia, sleep apnea or type II diabetes.
Novo Nordisk carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the health care sector are Allergan Inc. ( AGN ), AbbVie Inc. ( ABBV ) and AstraZeneca plc ( AZN ). While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie and AstraZeneca hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the health care sector are Allergan Inc. ( AGN ), AbbVie Inc. ( ABBV ) and AstraZeneca plc ( AZN ). While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie and AstraZeneca hold a Zacks Rank #2 (Buy). Click to get this free report NOVO-NORDISK AS (NVO): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report NOVO-NORDISK AS (NVO): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector are Allergan Inc. ( AGN ), AbbVie Inc. ( ABBV ) and AstraZeneca plc ( AZN ). While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie and AstraZeneca hold a Zacks Rank #2 (Buy). | Click to get this free report NOVO-NORDISK AS (NVO): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector are Allergan Inc. ( AGN ), AbbVie Inc. ( ABBV ) and AstraZeneca plc ( AZN ). While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie and AstraZeneca hold a Zacks Rank #2 (Buy). | Some better-ranked stocks in the health care sector are Allergan Inc. ( AGN ), AbbVie Inc. ( ABBV ) and AstraZeneca plc ( AZN ). While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie and AstraZeneca hold a Zacks Rank #2 (Buy). Click to get this free report NOVO-NORDISK AS (NVO): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. |
27416.0 | 2014-07-29 00:00:00 UTC | After Hours Most Active for Jul 29, 2014 : TWTR, BAC, T, PFE, ABBV, BBRY, S, QQQ, MSFT, FB, MU, SIRI | ABBV | https://www.nasdaq.com/articles/after-hours-most-active-jul-29-2014-twtr-bac-t-pfe-abbv-bbry-s-qqq-msft-fb-mu-siri-2014-07 | nan | nan | The NASDAQ 100 After Hours Indicator is up 5.57 to 3,964.6. The total After hours volume is currently 22,484,911 shares traded.
The following are the most active stocks for the after hours session :
Twitter, Inc. ( TWTR ) is +13.69 at $52.28, with 23,843,165 shares traded. RTT News Reports: Twitter Q2 Loss Widens; Lifts FY14 Revenue Outlook - Quick Facts
Bank of America Corporation ( BAC ) is +0.03 at $15.37, with 3,871,589 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2014. The consensus EPS forecast is $0.32. BAC's current last sale is 85.39% of the target price of $18.
AT&T Inc. ( T ) is unchanged at $36.59, with 2,852,786 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2014. The consensus EPS forecast is $0.61. As reported in the last short interest update the days to cover for T is 11.293637; this calculation is based on the average trading volume of the stock.
Pfizer, Inc. ( PFE ) is unchanged at $29.73, with 2,750,743 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2014. The consensus EPS forecast is $0.56. RTT News Reports: Pfizer Beats Forecasts Despite Slumping Sales
AbbVie Inc. ( ABBV ) is unchanged at $53.43, with 2,267,098 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range".
BlackBerry Limited ( BBRY ) is +0.08 at $9.59, with 1,547,462 shares traded. BBRY's current last sale is 106.56% of the target price of $9.
Sprint Corporation ( S ) is -0.07 at $7.93, with 1,518,168 shares traded.S is scheduled to provide an earnings report on 7/30/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is -0.04 per share, which represents a -31 percent increase over the EPS one Year Ago
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.07 at $96.67, with 1,384,897 shares traded. This represents a 28.96% increase from its 52 Week Low.
Microsoft Corporation ( MSFT ) is +0.015 at $43.90, with 793,147 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2015. The consensus EPS forecast is $0.72. MSFT's current last sale is 93.4% of the target price of $47.
Facebook, Inc. ( FB ) is +0.59 at $74.30, with 786,439 shares traded. Over the last four weeks they have had 12 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2014. The consensus EPS forecast is $0.32. As reported by Zacks, the current mean recommendation for FB is in the "buy range".
Micron Technology, Inc. ( MU ) is -0.03 at $32.10, with 562,732 shares traded. As reported by Zacks, the current mean recommendation for MU is in the "buy range".
Sirius XM Holdings Inc. ( SIRI ) is +0.01 at $3.41, with 524,590 shares traded. RTT News Reports: Sirius XM Q2 Profit Declines On Higher Expenses, Revenues Up
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | RTT News Reports: Pfizer Beats Forecasts Despite Slumping Sales AbbVie Inc. ( ABBV ) is unchanged at $53.43, with 2,267,098 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". RTT News Reports: Twitter Q2 Loss Widens; Lifts FY14 Revenue Outlook - Quick Facts Bank of America Corporation ( BAC ) is +0.03 at $15.37, with 3,871,589 shares traded. | RTT News Reports: Pfizer Beats Forecasts Despite Slumping Sales AbbVie Inc. ( ABBV ) is unchanged at $53.43, with 2,267,098 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2014. | RTT News Reports: Pfizer Beats Forecasts Despite Slumping Sales AbbVie Inc. ( ABBV ) is unchanged at $53.43, with 2,267,098 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". RTT News Reports: Twitter Q2 Loss Widens; Lifts FY14 Revenue Outlook - Quick Facts Bank of America Corporation ( BAC ) is +0.03 at $15.37, with 3,871,589 shares traded. | RTT News Reports: Pfizer Beats Forecasts Despite Slumping Sales AbbVie Inc. ( ABBV ) is unchanged at $53.43, with 2,267,098 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". AT&T Inc. ( T ) is unchanged at $36.59, with 2,852,786 shares traded. |
27417.0 | 2014-07-28 00:00:00 UTC | Novartis Division Gets European Approval for Simbrinza - Analyst Blog | ABBV | https://www.nasdaq.com/articles/novartis-division-gets-european-approval-for-simbrinza-analyst-blog-2014-07-28 | nan | nan | Novartis' ( NVS ) ophthalmology division, Alcon, received encouraging news when Simbrinza was approved by the European Commission.
Simbrinza has been approved in Europe to decrease elevated intraocular pressure (IOP) in adult patients with open-angle glaucoma or ocular hypertension for which monotherapy provides insufficient IOP reduction.
Alcon conducted two pivotal six month phase III studies to evaluate safety and efficacy of Simbrinza administered twice daily in patients with open-angle glaucoma or ocular hypertension who were insufficiently controlled on monotherapy or were already using multiple IOP-lowering medications. Both studies met their primary endpoints.
Alcon will launch Simbrinza in the UK in the third quarter of 2014. Thereafter, it will be launched in other European markets later in 2014 and in 2015. We note that Simbrinza was approved by the FDA in 2013.
The approval does not surprise us as the Committee for Medicinal Products for Human Use (CHMP) had issued a positive opinion to Simbrinza in May 2014.
Meanwhile, we cautiously watch Novartis' efforts to realign its portfolio in order to focus on its core portfolio of pharmaceuticals, eyecare and generics. We believe Novartis' recent deal to acquire oncology products from GlaxoSmithKline ( GSK ) and the divestiture of the Vaccines business is a step in the right direction. It will broaden Novartis' portfolio and enable it to focus better on its core capabilities besides contributing immensely to the top line.
Novartis, a large-cap pharma, currently carries a Zacks Rank #3 (Hold). Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock. Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report To read this article on Zacks.com click here. | While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock. Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report To read this article on Zacks.com click here. Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. | Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report To read this article on Zacks.com click here. Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock. | Right now, Allergan ( AGN ) and AbbVie ( ABBV ) look well positioned among the large-cap pharmas. While Allergan carries a Zacks Rank #1 (Strong Buy), AbbVie is a Zacks Rank #2 (Buy) stock. Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report To read this article on Zacks.com click here. |
27418.0 | 2014-07-25 00:00:00 UTC | AbbVie Q2 Earnings Top on Humira Sales, Shire In Focus - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvie-q2-earnings-top-on-humira-sales-shire-in-focus-analyst-blog-2014-07-25 | nan | nan | AbbVie Inc . ( ABBV ) reported second quarter 2014 earnings of 82 cents per share, unchanged from the year-ago earnings but surpassing the Zacks Consensus Estimate of 76 cents. Revenues increased 5% to $4.926 billion in the second quarter of 2014, surpassing the Zacks Consensus Estimate of $4.671 billion. Results were boosted by Humira's strong performance.
Including one-time items, second quarter 2014 earnings came in at 68 cents per share, up 3%.
Abbvie Inc - Earnings Surprise | FindTheBest
Humira Remains the Growth Driver
Key drug Humira recorded growth of 26.2% with revenues coming in at $3.288 billion. U.S. sales increased 35.6% ($1.661 billion). Ex-U.S. sales increased 17.8% to $1.627 billion. Factors like continued market expansion, share gains, and particularly strong growth in gastroenterology drove Humira's sales in the U.S. Humira is expected to exhibit high-teens growth in the U.S. in the third quarter.
Ex-U.S. sales of Humira were driven by new indications, share gains and double-digit market growth in most key countries. The timing of international shipments also helped sales. Low double-digit growth is expected in the third quarter in ex-U.S. markets driven by strong underlying trends that will be partially offset by the timing of shipments. Overall, Humira sales are expected to grow in double-digits this year.
Other products that performed well include Synthroid (up 8.7% to $166 million), Creon (up 4.1% to $110 million), Sevoflurane (up 12.6% to $154 million) and Duodopa (up 29.3% to $56 million).
TriCor/TriLipix revenues fell 84.4% to $17 million. Niaspan sales declined 90.9% to $21 million.
AbbVie said that adjusted SG&A was 27.1% of sales in the second quarter -- this reflects the company's investment in its growth brands as well as preparations for the potential launch of its hepatitis C virus (HCV) combination therapy. While SG&A spend is expected to increase modestly on a sequential basis in the third quarter, the sequential increase in fourth quarter SG&A spend will be more meaningful due to the potential HCV product launch.
AbbVie is currently seeking U.S. and EU approval for its HCV treatment. Approval would allow the company to launch the product in the U.S. later this year and the EU early next year.
Adjusted R&D was 16.1% of second quarter 2014 sales, reflecting the company's investment in its mid- and late-stage pipeline as well as its efforts to expand Humira's label.
AbbVie's pipeline represents significant potential -- the company's late-stage pipeline includes several compounds or indications in phase III development targeting therapeutic areas like HCV, immunology and endometriosis.
Meanwhile, AbbVie, which has been looking to acquire Shire ( SHPG ) for a while now, finally convinced Shire to accept its proposal late last week. The deal makes AbbVie the latest to join a string of U.S. health care companies that have been looking towards overseas acquisitions to lower their tax rates.
Guidance Maintained
AbbVie continues to expect 2014 earnings in the range of $3.06 to $3.16 per share. The guidance does not include the impact of the potential launch of the HCV therapy in the U.S. as well as the upcoming Shire acquisition. The Zacks Consensus Estimate of $3.15 is towards the higher end of the guidance range.
Third quarter earnings are expected in the range of 77 cents to 79 cents per share. The Zacks Consensus Estimate is 77 cents.
Our Take
AbbVie's second quarter results were strong with the company beating on the top-and bottom-line thanks to strong Humira sales. We are positive on AbbVie's decision to acquire Shire. AbbVie will not just lower its taxes through this acquisition; it will also boost its product portfolio significantly especially for rare diseases. This acquisition is very important for the company, which was mainly dependent on Humira for growth.
While additional details regarding the acquisition will be available this fall, AbbVie expects the deal to boost earnings in the first year following completion - the figure will cross $1.00 per share by 2020.
Meanwhile, the launch of the HCV combination therapy, potentially later this year, would be a major boost for the company. The company has presented impressive data on the candidate - the high rates of response and tolerability coupled with low discontinuation rates are encouraging.
AbbVie carries a Zacks Rank #2 (Buy). Some better-ranked stocks in the health care sector include Allergan ( AGN ) and Biogen ( BIIB ). Both are Zacks Rank #1 (Strong Buy) stocks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie said that adjusted SG&A was 27.1% of sales in the second quarter -- this reflects the company's investment in its growth brands as well as preparations for the potential launch of its hepatitis C virus (HCV) combination therapy. The deal makes AbbVie the latest to join a string of U.S. health care companies that have been looking towards overseas acquisitions to lower their tax rates. While additional details regarding the acquisition will be available this fall, AbbVie expects the deal to boost earnings in the first year following completion - the figure will cross $1.00 per share by 2020. | AbbVie's pipeline represents significant potential -- the company's late-stage pipeline includes several compounds or indications in phase III development targeting therapeutic areas like HCV, immunology and endometriosis. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc . | AbbVie said that adjusted SG&A was 27.1% of sales in the second quarter -- this reflects the company's investment in its growth brands as well as preparations for the potential launch of its hepatitis C virus (HCV) combination therapy. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc . | AbbVie Inc . The deal makes AbbVie the latest to join a string of U.S. health care companies that have been looking towards overseas acquisitions to lower their tax rates. ( ABBV ) reported second quarter 2014 earnings of 82 cents per share, unchanged from the year-ago earnings but surpassing the Zacks Consensus Estimate of 76 cents. |
27419.0 | 2014-07-25 00:00:00 UTC | Sector Update: Health-Care Shares Flat to Higher Pre-Market | ABBV | https://www.nasdaq.com/articles/sector-update-health-care-shares-flat-higher-pre-market-2014-07-25 | nan | nan | Top health-care stocks:
JNJ: +0.12%
PFE: +0.23%
ABT: flat
MRK: +0.07%
AMGN: flat
Health-care shares were flat to higher in pre-market trading Friday.
LifePoint Hospitals ( LPNT ) reported earnings and revenue that topped the Street view. Its earnings were $0.84 per share and revenue was $1.25 billion, whereas the Street expected $0.55 per share on $1.19 billion in revenue, according to Capital IQ estimates. LPNT was inactive pre-market.
IDEXX Laboratories ( IDXX ) reported better-than-expected financial results for Q2 and provided guidance for fiscal 2014 in line with Street estimates.
The provider of diagnostic and information technology-based products and services for pet healthcare posted Q2 earnings of $1.10 per share, compared with the prior-year period's $0.99 per share. Revenue was $390.12 million, up 11% from $352.58 million in the same quarter last year. IDXX flat pre-market with its Thursday close of $133.05, in a 52-week range of $92.09 to $137.68.
AbbVie ( ABBV ) was up 1.2% pre-market after the pharmaceuticals company reported Q2 adjusted EPS of $0.82, better than the analyst consensus of $0.76 per share on Capital IQ. Revenue was $4.926 billion, vs. expectations of $4.701 billion.
ABBV's Q2 sales growth was driven primarily by the continued strength of HUMIRA. Global HUMIRA sales increased 26.2%, or 25.4% on an operational basis, excluding the impact of foreign exchange rate fluctuations. Total company sales growth was also driven by strong growth from key products including Synthroid, Sevoflurane and Duodopa.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie ( ABBV ) was up 1.2% pre-market after the pharmaceuticals company reported Q2 adjusted EPS of $0.82, better than the analyst consensus of $0.76 per share on Capital IQ. ABBV's Q2 sales growth was driven primarily by the continued strength of HUMIRA. IDEXX Laboratories ( IDXX ) reported better-than-expected financial results for Q2 and provided guidance for fiscal 2014 in line with Street estimates. | AbbVie ( ABBV ) was up 1.2% pre-market after the pharmaceuticals company reported Q2 adjusted EPS of $0.82, better than the analyst consensus of $0.76 per share on Capital IQ. ABBV's Q2 sales growth was driven primarily by the continued strength of HUMIRA. LifePoint Hospitals ( LPNT ) reported earnings and revenue that topped the Street view. | AbbVie ( ABBV ) was up 1.2% pre-market after the pharmaceuticals company reported Q2 adjusted EPS of $0.82, better than the analyst consensus of $0.76 per share on Capital IQ. ABBV's Q2 sales growth was driven primarily by the continued strength of HUMIRA. AMGN: flat Health-care shares were flat to higher in pre-market trading Friday. | ABBV's Q2 sales growth was driven primarily by the continued strength of HUMIRA. AbbVie ( ABBV ) was up 1.2% pre-market after the pharmaceuticals company reported Q2 adjusted EPS of $0.82, better than the analyst consensus of $0.76 per share on Capital IQ. LifePoint Hospitals ( LPNT ) reported earnings and revenue that topped the Street view. |
27420.0 | 2014-07-24 00:00:00 UTC | Glaxo (GSK) Slips on Disappointing Q2 Earnings, Cuts View - Analyst Blog | ABBV | https://www.nasdaq.com/articles/glaxo-gsk-slips-on-disappointing-q2-earnings-cuts-view-analyst-blog-2014-07-24 | nan | nan | GlaxoSmithKline ( GSK ) reported second quarter core earnings of 64 cents per American depositary share (ADS), down 12% year over year at constant exchange rates (CER). Weak performance of the respiratory portfolio, generic competition for Lovaza and ongoing probe in China affected results. Earnings missed the Zacks Consensus Estimate of 71 cents. Investors reacted negatively to the news with the stock falling 5.98%.
On an ex-divestment basis, revenues were down 4% year over year at CER to $9.3 billion. Revenues were below the Zacks Consensus Estimate of $10.1 billion.
All growth rates mentioned below are on a year-on-year basis and at CER.
The Quarter in Detail
The company operates through two segments: Pharmaceuticals and Vaccines and Consumer Healthcare. Both Pharmaceuticals and Vaccines sales and Consumer Healthcare sales were down 4%. While Pharmaceuticals revenues decreased 6%, Vaccines revenues grew 5% on the back of strong Emerging Markets performance.
The Pharma and Vaccines segment disappointed in Japan (down 7%) and the U.S. (down 10%), partially offset by a 11% increase in Emerging Markets. Revenues in Europe remained flat.
Sales were affected by increasing competition for Advair and generic competition for Lovaza in the U.S. Additionally, ongoing investigation in China continued to cast a shadow on Glaxo.
In the Consumer Healthcare division, sales were negatively impacted by temporary supply interruptions in the U.S. and Europe. Sales increased in the Rest of the World (up 3%) and decreased in Europe (down 10%) and the U.S. (down 11%). On a segmental basis, turnover increased in Nutrition (up 7%), which was more than fully offset by a decrease in sales in Wellness (down 9%) and Skin Health (down 19%). Oral Health revenues remained flat.
Although the supply position is improving, Consumer Healthcare sales for the full year are expected to be broadly flat.
The company bought back shares worth £210 million during the second quarter of 2014 and £238 million year to date. Share repurchases in 2014 are expected to be immaterial.
The company declared an interim dividend of about 65 cents per ADS. The company increased the dividend by approximately 6%.
2014 Outlook
Glaxo no longer expects to report revenue growth in 2014. Additionally, the company expects 2014 core earnings to be broadly in line (at CER) with the year-ago period on an ex-divestment basis. Earlier, Glaxo had expected to report revenue growth along with core earnings growth of 4%-8% (both at CER). The pre-earnings Zack Consensus Estimate was $3.47 per share for 2014.
Glaxo continues to pursue restructuring and cost-cutting initiatives. The company expects to generate incremental cost savings of approximately £400 million in 2014.
Meanwhile, Glaxo is also working on divesting certain U.S. and European brands in its established products portfolio with expected total 2014 sales of approximately £1 billion.
Glaxo is on track to complete the major three-part inter-conditional transaction related to its Consumer Healthcare, Vaccines and Oncology businesses with Novartis ( NVS ) in the first half of 2015 (read more: Novartis Signs Deals With GlaxoSmithKline & Eli Lilly ).
Our Take
Glaxo's second quarter results were below expectations with both earnings and revenues missing the Zacks Consensus Estimate. We are concerned about the challenges faced by the company in the guise of increasing competition and pricing pressure. Additionally, we believe that any strict action enforced by the Chinese government will significantly impact Glaxo's top line.
The deal with Novartis is encouraging and is expected to be accretive to earnings. New products including HIV drug, Tivicay, should boost revenues in the coming quarters and partially offset the dismal performance by the respiratory product portfolio.
Glaxo carries a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the health care sector include AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ). Both sport a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the health care sector include AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ). Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Weak performance of the respiratory portfolio, generic competition for Lovaza and ongoing probe in China affected results. | Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ). GlaxoSmithKline ( GSK ) reported second quarter core earnings of 64 cents per American depositary share (ADS), down 12% year over year at constant exchange rates (CER). | Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ). Earlier, Glaxo had expected to report revenue growth along with core earnings growth of 4%-8% (both at CER). | Some better-ranked stocks in the health care sector include AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ). Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. GlaxoSmithKline ( GSK ) reported second quarter core earnings of 64 cents per American depositary share (ADS), down 12% year over year at constant exchange rates (CER). |
27421.0 | 2014-07-24 00:00:00 UTC | IYH, PFE, ABBV, BIIB: Large Outflows Detected at ETF | ABBV | https://www.nasdaq.com/articles/iyh-pfe-abbv-biib-large-outflows-detected-etf-2014-07-24 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares U.S. Healthcare ETF (Symbol: IYH) where we have detected an approximate $39.2 million dollar outflow -- that's a 1.5% decrease week over week (from 19,400,000 to 19,100,000). Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.1%, AbbVie Inc. (Symbol: ABBV) is off about 0.4%, and Biogen Idec Inc (Symbol: BIIB) is lower by about 0.1%. The chart below shows the one year price performance of IYH, versus its 200 day moving average:
Looking at the chart above, IYH's low point in its 52 week range is $103.22 per share, with $131.43 as the 52 week high point - that compares with a last trade of $130.26. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average » .
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.1%, AbbVie Inc. (Symbol: ABBV) is off about 0.4%, and Biogen Idec Inc (Symbol: BIIB) is lower by about 0.1%. The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $103.22 per share, with $131.43 as the 52 week high point - that compares with a last trade of $130.26. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.1%, AbbVie Inc. (Symbol: ABBV) is off about 0.4%, and Biogen Idec Inc (Symbol: BIIB) is lower by about 0.1%. The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $103.22 per share, with $131.43 as the 52 week high point - that compares with a last trade of $130.26. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.1%, AbbVie Inc. (Symbol: ABBV) is off about 0.4%, and Biogen Idec Inc (Symbol: BIIB) is lower by about 0.1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares U.S. Healthcare ETF (Symbol: IYH) where we have detected an approximate $39.2 million dollar outflow -- that's a 1.5% decrease week over week (from 19,400,000 to 19,100,000). The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $103.22 per share, with $131.43 as the 52 week high point - that compares with a last trade of $130.26. | Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.1%, AbbVie Inc. (Symbol: ABBV) is off about 0.4%, and Biogen Idec Inc (Symbol: BIIB) is lower by about 0.1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares U.S. Healthcare ETF (Symbol: IYH) where we have detected an approximate $39.2 million dollar outflow -- that's a 1.5% decrease week over week (from 19,400,000 to 19,100,000). Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. |
27422.0 | 2014-07-24 00:00:00 UTC | Shire, ArmaGen Ink Licensing Agreeement for AGT-182 - Analyst Blog | ABBV | https://www.nasdaq.com/articles/shire-armagen-ink-licensing-agreeement-for-agt-182-analyst-blog-2014-07-24 | nan | nan | Shire ( SHPG ) recently entered into a worldwide licensing and collaboration agreement with privately-held U.S.-based biotechnology company, ArmaGen.
The agreement is related to commercialization rights for pipeline candidate AGT-182, an experimental enzyme replacement therapy (ERT) which is being developed for the treatment of both the central nervous system (CNS) and somatic manifestations in patients with Hunter syndrome (MPS II).
As per the terms of the agreement, Shire will obtain worldwide commercialization rights for AGT-182 from ArmaGen. We note that the candidate enjoys orphan drug status both in the U.S. and EU.
In exchange, Shire will make payments of approximately $225 million to ArmaGen. This includes an initial upfront payment of $15 million in cash and equity, an additional equity investment, research and development funding, milestones payments along with royalty payments.
Meanwhile, ArmaGen will be responsible for conducting and completing the phase I/II study which is expected to start before 2014 end. Thereafter, Shire will be responsible for further clinical development, including phase III trials, and commercialization upon development.
The collaboration with ArmaGen is expected to strengthen Shire's rare disease pipeline. We note that Shire already has a drug, Elaprase, which is approved for treating Hunter Syndrome. Shire also has one candidate in its pipeline, SHP-609, which is being developed for the treatment of CNS manifestations associated with Hunter syndrome.
Last week, Shire announced that it has finally agreed to AbbVie's ( ABBV ) acquisition proposal. Under the terms of the offer, shareholders of Shire will receive £53.19 for each Shire share (£24.44 in cash and 0.8960 ordinary shares of the merged company for each Shire share held).
Shire currently carries a Zacks Rank #3 (Hold). Investors looking for better-ranked stocks may consider companies like Allergan ( AGN ) and Pfizer, Inc. ( PFE ). While Allergan carries a Zacks Rank #1 (Strong Buy), Pfizer is a Zacks Rank #2 stock (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Last week, Shire announced that it has finally agreed to AbbVie's ( ABBV ) acquisition proposal. Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Shire ( SHPG ) recently entered into a worldwide licensing and collaboration agreement with privately-held U.S.-based biotechnology company, ArmaGen. | Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Last week, Shire announced that it has finally agreed to AbbVie's ( ABBV ) acquisition proposal. While Allergan carries a Zacks Rank #1 (Strong Buy), Pfizer is a Zacks Rank #2 stock (Buy). | Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Last week, Shire announced that it has finally agreed to AbbVie's ( ABBV ) acquisition proposal. Under the terms of the offer, shareholders of Shire will receive £53.19 for each Shire share (£24.44 in cash and 0.8960 ordinary shares of the merged company for each Shire share held). | Last week, Shire announced that it has finally agreed to AbbVie's ( ABBV ) acquisition proposal. Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Thereafter, Shire will be responsible for further clinical development, including phase III trials, and commercialization upon development. |
27423.0 | 2014-07-24 00:00:00 UTC | Pre-Market Earnings Report for July 25, 2014 : ABBV, LYB, COV, AON, AEP, TYC, MCO, XRX, DTE, SWK, FMX, LEA | ABBV | https://www.nasdaq.com/articles/pre-market-earnings-report-july-25-2014-abbv-lyb-cov-aon-aep-tyc-mco-xrx-dte-swk-fmx-lea | nan | nan | The following companies are expected to report earnings prior to market open on 07/25/2014. Visit our Earnings Calendar for a full list of expected earnings releases.
AbbVie Inc. ( ABBV ) is reporting for the quarter ending June 30, 2014. The large cap pharmaceutical company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.76. This value represents a 7.32% decrease compared to the same quarter last year. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 17.30 vs. an industry ratio of 26.40.
LyondellBasell Industries NV ( LYB ) is reporting for the quarter ending June 30, 2014. The chemical company's consensus earnings per share forecast from the 12 analysts that follow the stock is $1.92. This value represents a 20.00% increase compared to the same quarter last year. Zacks Investment Research reports that the 2014 Price to Earnings ratio for LYB is 13.83 vs. an industry ratio of 17.50.
Covidien plc. ( COV ) is reporting for the quarter ending June 30, 2014. The medical products company's consensus earnings per share forecast from the 11 analysts that follow the stock is $1.00. This value represents a 9.89% increase compared to the same quarter last year. In the past year COV has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 1.05%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for COV is 22.38 vs. an industry ratio of -1.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Aon plc ( AON ) is reporting for the quarter ending June 30, 2014. The insurance brokers company's consensus earnings per share forecast from the 12 analysts that follow the stock is $1.20. This value represents a 8.11% increase compared to the same quarter last year. In the past year AON has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 9.4%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for AON is 16.80 vs. an industry ratio of 46.90.
American Electric Power Company, Inc. ( AEP ) is reporting for the quarter ending June 30, 2014. The electric power utilities company's consensus earnings per share forecast from the 10 analysts that follow the stock is $0.75. This value represents a 2.74% increase compared to the same quarter last year. AEP missed the consensus earnings per share in the 2nd calendar quarter of 2013 by -5.19%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for AEP is 15.51 vs. an industry ratio of 79.60.
Tyco International, Ltd. (Switzerland) ( TYC ) is reporting for the quarter ending June 30, 2014. The diversified operations company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.54. This value represents a 8.00% increase compared to the same quarter last year. TYC missed the consensus earnings per share in the 3rd calendar quarter of 2013 by -1.89%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for TYC is 22.57 vs. an industry ratio of 19.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Moody's Corporation ( MCO ) is reporting for the quarter ending June 30, 2014. The financial services company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.99. This value represents a 1.00% decrease compared to the same quarter last year. In the past year MCO has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 11.11%. The "days to cover" for this stock exceeds 10 days. Zacks Investment Research reports that the 2014 Price to Earnings ratio for MCO is 23.08 vs. an industry ratio of 15.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Xerox Corporation ( XRX ) is reporting for the quarter ending June 30, 2014. The office automation company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.26. This value represents a 3.70% decrease compared to the same quarter last year. In the past year XRX has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2014 Price to Earnings ratio for XRX is 11.62 vs. an industry ratio of 13.60.
DTE Energy Company ( DTE ) is reporting for the quarter ending June 30, 2014. The electric power utilities company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.77. This value represents a 24.19% increase compared to the same quarter last year. Zacks Investment Research reports that the 2014 Price to Earnings ratio for DTE is 17.28 vs. an industry ratio of 79.60.
Stanley Black & Decker, Inc. ( SWK ) is reporting for the quarter ending June 30, 2014. The machinery company's consensus earnings per share forecast from the 11 analysts that follow the stock is $1.37. This value represents a 13.22% increase compared to the same quarter last year. In the past year SWK has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 10.31%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for SWK is 15.91 vs. an industry ratio of 16.90.
Fomento Economico Mexicano S.A.B. de C.V. ( FMX ) is reporting for the quarter ending June 30, 2014. The beverages company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.78. This value represents a no change for the same quarter last year. Zacks Investment Research reports that the 2014 Price to Earnings ratio for FMX is 25.51 vs. an industry ratio of 13.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Lear Corporation ( LEA ) is reporting for the quarter ending June 30, 2014. The auto (truck) company's consensus earnings per share forecast from the 9 analysts that follow the stock is $1.96. This value represents a 20.99% increase compared to the same quarter last year. In the past year LEA has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 9.52%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for LEA is 12.51 vs. an industry ratio of 13.20.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc. ( ABBV ) is reporting for the quarter ending June 30, 2014. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 17.30 vs. an industry ratio of 26.40. | AbbVie Inc. ( ABBV ) is reporting for the quarter ending June 30, 2014. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 17.30 vs. an industry ratio of 26.40. | AbbVie Inc. ( ABBV ) is reporting for the quarter ending June 30, 2014. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 17.30 vs. an industry ratio of 26.40. | AbbVie Inc. ( ABBV ) is reporting for the quarter ending June 30, 2014. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 17.30 vs. an industry ratio of 26.40. |
27424.0 | 2014-07-24 00:00:00 UTC | Will AbbVie (ABBV) Surprise This Earnings Season? - Analyst Blog | ABBV | https://www.nasdaq.com/articles/will-abbvie-abbv-surprise-this-earnings-season-analyst-blog-2014-07-24 | nan | nan | AbbVie Inc. ( ABBV ) is scheduled to report its second-quarter 2014 results before the opening bell on Jul 25. Last quarter, the company posted a positive earnings surprise of 5.88%. The four-quarter trailing average beat is 3.40%. Let's see how things are shaping up for this announcement.
Factors at Play
Revenues are expected to remain under pressure as key products including TriCor/Trilipix and Niaspan are facing generic competition. Both TriCor/Trilipix (down 81.8%) and Niaspan (down 75%) revenues declined in the U.S. in the first quarter
However, AbbVie's lead product, Humira should continue performing well and help offset the impact of genericization. Late last month, the company raised its 2014 guidance ($3.06 to $3.16 per share) on the strength of its underlying business performance so far this year. The positive trends are expects to continue for the rest of the year including the second quarter.
We expect investor focus to remain on additional details regarding the upcoming AbbVie- Shire ( SHPG ) acquisition agreement (read more: AbbVie Set to Acquire UK-Based Shire in Q4 )
Earnings Whispers?
Our proven model does not conclusively show that AbbVie is likely to beat earnings estimates this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1, 2 or 3 for this to happen. This is not the case here, as you will see below.
Zacks ESP: Earnings ESP for AbbVie is 0.00%. This is because both the Most Accurate estimate and the Zacks Consensus Estimate stand at 76 cents per share.
Zacks Rank: AbbVie carries a Zacks Rank #2 (Buy). Though a favorable Zacks Rank increases the predictive power of ESP, the company's ESP of 0.00% makes surprise prediction difficult.
We caution against stocks with Zacks Ranks #4 and #5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Other Stocks to Consider
Here are some companies you may want to consider as our model shows that they have the right combination of elements.
Hospira Inc. ( HSP ) has an earnings ESP of +1.79% and carries a Zacks Rank #1. It is expected to report its second-quarter results on Jul 30 before market opens.
Endo International ( ENDP ) has an earnings ESP of +4.49% and carries a Zacks Rank #2. Endo will report second quarter earnings on Jul 31 before market opens.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Both TriCor/Trilipix (down 81.8%) and Niaspan (down 75%) revenues declined in the U.S. in the first quarter However, AbbVie's lead product, Humira should continue performing well and help offset the impact of genericization. AbbVie Inc. ( ABBV ) is scheduled to report its second-quarter 2014 results before the opening bell on Jul 25. We expect investor focus to remain on additional details regarding the upcoming AbbVie- Shire ( SHPG ) acquisition agreement (read more: AbbVie Set to Acquire UK-Based Shire in Q4 ) Earnings Whispers? | Zacks Rank: AbbVie carries a Zacks Rank #2 (Buy). Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report HOSPIRA INC (HSP): Free Stock Analysis Report ENDO INTL PLC (ENDP): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc. ( ABBV ) is scheduled to report its second-quarter 2014 results before the opening bell on Jul 25. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report HOSPIRA INC (HSP): Free Stock Analysis Report ENDO INTL PLC (ENDP): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc. ( ABBV ) is scheduled to report its second-quarter 2014 results before the opening bell on Jul 25. Both TriCor/Trilipix (down 81.8%) and Niaspan (down 75%) revenues declined in the U.S. in the first quarter However, AbbVie's lead product, Humira should continue performing well and help offset the impact of genericization. | Our proven model does not conclusively show that AbbVie is likely to beat earnings estimates this quarter. AbbVie Inc. ( ABBV ) is scheduled to report its second-quarter 2014 results before the opening bell on Jul 25. Both TriCor/Trilipix (down 81.8%) and Niaspan (down 75%) revenues declined in the U.S. in the first quarter However, AbbVie's lead product, Humira should continue performing well and help offset the impact of genericization. |
27425.0 | 2014-07-23 00:00:00 UTC | Healthcare Spending Uptrend: 3 Medical Stocks for Strong Growth - Analyst Blog | ABBV | https://www.nasdaq.com/articles/healthcare-spending-uptrend%3A-3-medical-stocks-for-strong-growth-analyst-blog-2014-07-23 | nan | nan | The improving U.S. economy is helping Americans take better care of their health now. Citizens who delayed treatments are now able to afford the costs, which will eventually push healthcare spending up. A report from PricewaterhouseCoopers's (PwC) Health Research Institute has forecast a modest 6.8% increase in healthcare spending in 2015. Some may call the term 'modest' a misnomer as the forecasted growth is in stark contrast to the five-year contraction in costs the industry witnessed.
Along with the improving economy, the Patient Protection and Affordable Care Act (PPACA) or the Affordable Care Act (ACA) or "Obamacare" has also played significant role. Total health spending will probably trend up as more people can avail the insurance under the ACA. The aging society, hospitals acquiring more in-house physicians and costly technologies are among other factors that may drive healthcare spending upward.
Healthcare Spending
Healthcare spending is forecasted to rise 6.8% in 2015, up from the 6.5% increase expected this year. The increase may seem a bit tepid compared to double-digit growth in medical inflation recorded ahead of the economic downturn. However, this reverses the five-year contraction, thanks to economic recovery. Ceci Connolly, managing director of PwC's Health Research Institute and the report's co-author said: "Now that overall economy has improved and come back significantly, we see for 2015 that health spending is also loosening up."
This is largely due to Americans being in a better position to afford medical costs. "Folks who postponed some services - some elective, some more serious - are going ahead and taking care of it," commented Connolly.
Health Insurance Plan
The healthcare spending forecast is the difference in cost to treat patients from one year to the next. This analysis tracks the cost increase in employer-based health plan market that has 150 million people under its ambit. The forecast combines the services cost and the amount of services used.
However, the increase in healthcare spending is expected to have "little effect on employer health spending." This is because employers usually adjust the plan offerings based on the spending trend. High-deductible plans are already rising and employers may further increase employees' burden, i.e. the amount they are required to pay before the insurance coverage is effective. "It probably means some additional cost shifted to individuals," Connolly said.
The net increase is thus projected at around 4.8%.
The PwC study also notes that 44% of employers are considering health plans as the only insurance option for employees for the next three years.
Affordable Care Act (ACA)
Talking of insurance plan, the ACA should also increase healthcare spending. "Obamacare," which was enacted in Mar 2010 and was taken as a bitter pill is now unveiling the significance for a systematic healthcare reform in the U.S. (Read: Will Obamacare Happen Smoothly? )
The World Health Organization had stated that healthcare expenditure per person in the United States is the highest in the world. Despite the large amount of money spend on health care, millions of Americans lacked health insurance coverage or were underinsured. This was mostly due to a dysfunctional system. To expand coverage, President Obama introduced drastic health care reforms, which aimed at bringing down the country's uninsured rate.
The multi-year implementation of ACA is finally reflected in positive signs from healthcare providers (in the form of improved earnings), consumers (higher enrolments) and the market (wider coverage at lower healthcare spending). This paves the way for affordable healthcare facilities and expanded coverage for patients with pre-existing health conditions, while also bringing about 32 million uninsured citizens under the coverage umbrella.
Additionally, the ACA aims to invest in information technology and state-based exchanges to curb any fraud and manhandling of policies, hence offering complete authentic health insurance coverage in the long run.
As for the hospitals, the ACA is making the consumers stronger and the hospital industry can no longer cherry-pick their customers. (Read: Obamacare Plays: 3 Hospital Stocks to Buy )
Jason Furman of the Council of Economic Advisers said healthcare spending will most likely jump in coming quarters "as the millions of people who gained health insurance coverage during the Affordable Care Act's first open enrollment period begin to use their new coverage." Many Americans got their insurance at the first quarter end; thereby opening up the possibility of higher healthcare spending.
3 Medical Stocks to Witness Strong Growth
The rise in healthcare spending, if true, will increase business for hospitals, diagnostic centers and healthcare related industry. Eventually, the healthcare industry should benefit and help medical stocks be profitable bets now.
The medical stocks listed below carry either Zacks Rank #1 (Strong Buy) or Zacks Rank #2 (Buy). If you are looking for fast growing stocks that are still seeing plenty of opportunities on the horizon, make sure to consider the following medical stocks. Not only do they have double-digit earnings growth prospect, but their impressive Zacks Rank suggests that analysts believe better days are ahead for these companies.
Biogen Idec Inc. ( BIIB ) is among the leading biotechnology companies. Biogen is the market leader in therapies for the treatment of multiple sclerosis (MS). Biogen is now focusing on the development of those candidates that represent higher return potential. Biologics is another area which could help drive long-term growth at the company.
Biogen also generates significant royalties from partnering agreements with other pharmaceutical and biotechnology companies. Biogen has collaborations with companies like Roche Holding AG ( RHHBY ), Acorda Therapeutics, Inc. ( ACOR ) and AbbVie Inc. ( ABBV ) among others.
Biogen saw EPS growth of 36.8% last year, and is looking great for this year too. The current growth estimate for this year calls for earnings-per-share growth of 30.9%. Biogen has seen estimates rise over the past two months for the current fiscal year by about 4.1%. Biogen has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company.
AmSurg Corp. ( AMSG ) is a leading operator of single-specialty practice-based ambulatory surgery centers (ASCs) in the US. At the end of Mar 2014, AmSurg operated 242 ASCs located in 35 states and the District of Columbia. Revenues are derived from facility fee charges, which are largely funded by third-party reimbursement programs such as government and private insurance.
AmSurg has made consistent progress with several quarters of double-digit sales growth. In order to pave its way into the fast-growing fragmented physician outsourcing market, AmSurg acquired Sheridan Healthcare, a prominent multi-specialty outsourced physician services provider.
AmSurg saw EPS growth of 12.6% last year, and is looking great for this year too. The current growth estimate for this year calls for earnings-per-share growth of 11.9%. AmSurg has actually seen estimates rise over the past two months for the current fiscal year by about 2.1%. AmSurg has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company.
Acadia Healthcare Company, Inc. ( ACHC ) provides inpatient behavioral health care service. Acadia Healthcare has acquired about 1,700 beds based on seven acquisitions executed in the past 15 months. The latest acquisition of Partnerships in Care (PiC) added 1,200 beds, thereby appreciating inpatient volumes. The acquired and the organic bed expansion along with smooth execution of the ACA policies are expected to drive meaningful growth for the company going forward.
Acadia Healthcare saw EPS growth of 62.1% last year, and is looking great for this year too. The current growth estimate for this year calls for earnings-per-share growth of 34.1%. Acadia Healthcare has actually seen estimates rise over the past two months for the current fiscal year by about 10.8%. Acadia Healthcare has a Zacks Rank #1 (Strong Buy) which further underscores the potential for outperformance in this company.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Biogen has collaborations with companies like Roche Holding AG ( RHHBY ), Acorda Therapeutics, Inc. ( ACOR ) and AbbVie Inc. ( ABBV ) among others. Click to get this free report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report ACORDA THERAPT (ACOR): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report AMSURG CORP (AMSG): Free Stock Analysis Report ACADIA HEALTHCR (ACHC): Free Stock Analysis Report To read this article on Zacks.com click here. To expand coverage, President Obama introduced drastic health care reforms, which aimed at bringing down the country's uninsured rate. | Click to get this free report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report ACORDA THERAPT (ACOR): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report AMSURG CORP (AMSG): Free Stock Analysis Report ACADIA HEALTHCR (ACHC): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen has collaborations with companies like Roche Holding AG ( RHHBY ), Acorda Therapeutics, Inc. ( ACOR ) and AbbVie Inc. ( ABBV ) among others. Along with the improving economy, the Patient Protection and Affordable Care Act (PPACA) or the Affordable Care Act (ACA) or "Obamacare" has also played significant role. | Click to get this free report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report ACORDA THERAPT (ACOR): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report AMSURG CORP (AMSG): Free Stock Analysis Report ACADIA HEALTHCR (ACHC): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen has collaborations with companies like Roche Holding AG ( RHHBY ), Acorda Therapeutics, Inc. ( ACOR ) and AbbVie Inc. ( ABBV ) among others. Healthcare Spending Healthcare spending is forecasted to rise 6.8% in 2015, up from the 6.5% increase expected this year. | Biogen has collaborations with companies like Roche Holding AG ( RHHBY ), Acorda Therapeutics, Inc. ( ACOR ) and AbbVie Inc. ( ABBV ) among others. Click to get this free report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report ACORDA THERAPT (ACOR): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report AMSURG CORP (AMSG): Free Stock Analysis Report ACADIA HEALTHCR (ACHC): Free Stock Analysis Report To read this article on Zacks.com click here. Healthcare Spending Healthcare spending is forecasted to rise 6.8% in 2015, up from the 6.5% increase expected this year. |
27426.0 | 2014-07-22 00:00:00 UTC | Shire's Q2 Earnings Strong but Overshadowed by AbbVie Deal - Analyst Blog | ABBV | https://www.nasdaq.com/articles/shires-q2-earnings-strong-but-overshadowed-by-abbvie-deal-analyst-blog-2014-07-22 | nan | nan | Shares of Shire ( SHPG ) gained 1.43% following the news of an acquisition agreement with AbbVie ( ABBV ) as well as better-than-expected second quarter results. Thereafter, shares lost 1.6%. Overall, shares are down 0.2% since the company released second quarter results.
Shire reported second quarter 2014 earnings (excluding special items and amortization) of $2.67 per American Depositary Share (ADS), up from $1.88 per ADS in the year-ago quarter and beating the Zacks Consensus Estimate of $2.41.
Quarterly revenues increased 20% to $1.5 billion, beating the Zacks Consensus Estimate. The increase in revenues was driven by a robust growth in product sales.
Quarter in Detail
Product sales went up 22% y/y to $1.5 billion. Growth was driven by attention deficit hyperactivity disorder (ADHD) drug Vyvanse (up 20% to $360 million), hereditary angioedema (HAE) drug Firazyr (up 80% to $89 million) and Fabry disease drug Replagal (up 14% to $131 million).
The addition of Cinryze from the erstwhile ViroPharma contributed $130 million to product sales. In total, sales of products from ViroPharma contributed $141 million to the total. We remind investors that Shire acquired all of the outstanding shares of erstwhile ViroPharma in Jan 2014 for $50 per share in cash or approximately $4.23 billion.
Royalties declined 20% to $29.2 million in the second quarter. Adjusted research & development (R&D) costs declined 10.0% to $209.1 million in the reported quarter. Selling, general & administrative (SG&A) expenses increased 10.0% to $392.6 million.
2014 Outlook Updated
Shire expects product sales growth in high teens in 2014 compared to the previous guidance of mid-to-high teens growth. Royalties and other revenues are expected to decline 10%-15% in 2014 from 2013 levels. Shire now expects earnings in 2014 to grow at a low-to-mid 30% range as compared to the previous guidance of a mid-to-high 20% range.
Pipeline Update
In Jun 2014, Shire agreed to conduct pediatric clinical studies following FDA's request to investigate the potential use of Vyvanse for the treatment of ADHD in children aged between 4 and 5 years.
Shire also plans to submit a New Drug Application (NDA) for pipeline candidate lifitegrast in the first quarter of 2015, following a meeting with FDA in May 2014.
During the quarter, Shire decided to discontinue further development of Vascugel for the treatment of acute vascular repair in patients undergoing hemodialysis.
Shire completed the acquisition of biopharmaceutical company, Lumena Pharmaceuticals in the second quarter thereby adding two candidates, SHP625 and SHP626, to Shire's pipeline. Earlier in the month, Shire acquired privately-held, biotechnology company, Fibrotech which focuses on the development of small molecules for the treatment of renal diseases and fibrosis. The acquisition of Fibrotech has added another candidate, SHP627 (formerly FT011), to Shire's pipeline, which is being developed for patients suffering from renal impairment.
Shire Agrees to be Acquired by AbbVie
Concurrent with the second quarter results, Shire announced that it finally agreed to AbbVie's acquisition proposal. Under the terms of the offer, shareholders of Shire will receive £53.19 for per Shire share (£24.44 in cash and 0.8960 ordinary shares of the merged company for each Shire share held).
Our Take
Shire currently carries a Zacks Rank #3 (Hold). We view the acquisition by AbbVie as positive given the price offered. AbbVie's proposal of £53.19 per Shire share represents a significant premium of 53% over the unaffected stock price of Shire of £34.67, before the merger talks surfaced on May 2, 2014. Moreover, Shire shareholders will have a 25% stake in the merged company.
Investors looking for better-ranked stocks may consider companies like Allergan ( AGN ) and Pfizer, Inc ( PFE ). Both carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shares of Shire ( SHPG ) gained 1.43% following the news of an acquisition agreement with AbbVie ( ABBV ) as well as better-than-expected second quarter results. Shire Agrees to be Acquired by AbbVie Concurrent with the second quarter results, Shire announced that it finally agreed to AbbVie's acquisition proposal. We view the acquisition by AbbVie as positive given the price offered. | Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Shire ( SHPG ) gained 1.43% following the news of an acquisition agreement with AbbVie ( ABBV ) as well as better-than-expected second quarter results. Shire Agrees to be Acquired by AbbVie Concurrent with the second quarter results, Shire announced that it finally agreed to AbbVie's acquisition proposal. | Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Shire ( SHPG ) gained 1.43% following the news of an acquisition agreement with AbbVie ( ABBV ) as well as better-than-expected second quarter results. Shire Agrees to be Acquired by AbbVie Concurrent with the second quarter results, Shire announced that it finally agreed to AbbVie's acquisition proposal. | Shares of Shire ( SHPG ) gained 1.43% following the news of an acquisition agreement with AbbVie ( ABBV ) as well as better-than-expected second quarter results. Shire Agrees to be Acquired by AbbVie Concurrent with the second quarter results, Shire announced that it finally agreed to AbbVie's acquisition proposal. We view the acquisition by AbbVie as positive given the price offered. |
27427.0 | 2014-07-22 00:00:00 UTC | Johnson & Johnson Announces $5B Share Buyback - Analyst Blog | ABBV | https://www.nasdaq.com/articles/johnson-johnson-announces-%245b-share-buyback-analyst-blog-2014-07-22 | nan | nan | Johnson & Johnson ( JNJ ) announced its plan to buy back up to $5 billion of its common stock. As of Jun 29, 2014, the company had approximately 2.8226 billion shares of common stock outstanding. We expect investors to react positively to the news and the share price to climb higher.
The company said that there is no specific timeline for the buyback and also mentioned that it may suspend or withdraw the program at any time.
Meanwhile, Johnson & Johnson declared a cash dividend of 70 cents per share on the company's common stock for the third quarter of 2014. The dividend is payable on Sep 9, 2014. The dividend will be paid to shareholders of record as of Aug 26, 2014. The ex-dividend date is Aug 22, 2014. The payout is in line with the dividend declared in the previous quarter.
We note that the company's repurchase plan comes close on the heels of its strong performance in the second quarter of 2014. Johnson & Johnson's second-quarter 2014 earnings were $1.66 per share, well above the Zacks Consensus Estimate of $1.54. This was the 14th successive time the company surpassed our expectations. Alongside second quarter results, the company also upped its 2014 earnings guidance (read more: Johnson & Johnson Beats on Q2 Earnings, Ups View Again ).
Johnson & Johnson is a Zacks Rank #3 (Hold) stock. Some better ranked companies in the health care space include AbbVie ( ABBV ), Pfizer ( PFE ) and AstraZeneca ( AZN ). All three are Zacks Ranked #2 (Buy) stocks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better ranked companies in the health care space include AbbVie ( ABBV ), Pfizer ( PFE ) and AstraZeneca ( AZN ). Click to get this free report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. We expect investors to react positively to the news and the share price to climb higher. | Click to get this free report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. Some better ranked companies in the health care space include AbbVie ( ABBV ), Pfizer ( PFE ) and AstraZeneca ( AZN ). Alongside second quarter results, the company also upped its 2014 earnings guidance (read more: Johnson & Johnson Beats on Q2 Earnings, Ups View Again ). | Click to get this free report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. Some better ranked companies in the health care space include AbbVie ( ABBV ), Pfizer ( PFE ) and AstraZeneca ( AZN ). Meanwhile, Johnson & Johnson declared a cash dividend of 70 cents per share on the company's common stock for the third quarter of 2014. | Some better ranked companies in the health care space include AbbVie ( ABBV ), Pfizer ( PFE ) and AstraZeneca ( AZN ). Click to get this free report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. Johnson & Johnson ( JNJ ) announced its plan to buy back up to $5 billion of its common stock. |
27428.0 | 2014-07-22 00:00:00 UTC | Allergan, a Valeant Takeover Target, Plans 1,500 Job Cuts - Analyst Blog | ABBV | https://www.nasdaq.com/articles/allergan-a-valeant-takeover-target-plans-1500-job-cuts-analyst-blog-2014-07-22 | nan | nan | Allergan, Inc., ( AGN ), which is currently being pursued by Valeant Pharmaceuticals ( VRX ), announced restructuring initiatives that will see the company cutting its work force by 13% (1,500 employees). 250 vacant positions will also be eliminated. Shares were up 2.23% on the restructuring news as well as better-than-expected second quarter results and a raised guidance.
The company stated that approximately 94% of all customer-facing personnel will be unaffected by the restructuring.
The restructuring plan will be carried out over the rest of the year and is expected to deliver annual pre-tax savings of approximately $475 million in 2015. Allergan plans to streamline its organizational structure and focus on high value opportunities.
The company plans to reduce its expenditure related to the commercial organization, general and administrative functions, manufacturing and the R&D organization. These reductions are expected to have a modest impact on net sales growth. The company has reiterated its double-digit sales growth target for the period 2014 to 2019. Allergan expects to deliver an earnings growth rate of more than 20%.
Allergan expects 2014 earnings of $5.74-$5.80 per share. The Zacks Consensus Estimate is currently at $5.74 per share. Allergan estimates earnings per share in the range of $8.20-$8.40 and approximately $10.00 in 2015 and 2016, respectively. Currently, the Zacks Consensus Estimate for 2015 stands at $8.30 per share, within the guided range.
At present, we expect investor focus to remain on further updates from Valeant and Allergan on the acquisition proposal. Allergan had rejected Valeant's revised acquisition offer.
Allergan carries a Zacks Rank #2 (Buy). Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan. Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Allergan, Inc., ( AGN ), which is currently being pursued by Valeant Pharmaceuticals ( VRX ), announced restructuring initiatives that will see the company cutting its work force by 13% (1,500 employees). | Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan. Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan. Allergan estimates earnings per share in the range of $8.20-$8.40 and approximately $10.00 in 2015 and 2016, respectively. | Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan. Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Allergan expects 2014 earnings of $5.74-$5.80 per share. |
27429.0 | 2014-07-21 00:00:00 UTC | Allergan Beats on Q2 Earnings, Ups View & Plans 13% Job Cut - Analyst Blog | ABBV | https://www.nasdaq.com/articles/allergan-beats-on-q2-earnings-ups-view-plans-13-job-cut-analyst-blog-2014-07-21 | nan | nan | Allergan, Inc. ( AGN ) reported second quarter 2014 earnings of $1.51 per share, much above the Zacks Consensus Estimate of $1.44. The company had guided second quarter earnings in the range of $1.41-$1.44 per share.
While earnings climbed 23.8% from the year-ago quarter, revenues increased 16.1% to $1,854.5 million, above the Zacks Consensus Estimate of $1,720 million.
Allergan, Inc - Earnings Surprise | FindTheBest
The Quarter in Detail
Specialty pharmaceuticals sales increased 13.2% to $1,526.1 million, with eye-care pharmaceuticals, Botox and skin-care sales driving growth.
Eye-care pharmaceutical sales increased 14.5% to $827.0 million with Restasis (up 24.4%) contributing significantly to growth.
Alphagan franchise sales went up 4.5% to $125.4 million in the reported quarter. While Latisse sales decreased 9.4% to $25.1 million, Lumigan franchise went up 10.5% to $174.7 million.
Allergan narrowed its Lumigan franchise sales guidance. The company now expects Lumigan franchise sales to be in the range of $600 million to $620 million in 2014 (previous guidance: $590-$620 million). Meanwhile, Alphagan franchise sales are expected in the range of $460-$480 million in 2014.
Restasis sales are expected to increase to $1,040-$1,070 million in 2014. Allergan expects Latisse sales to be approximately $100 million in 2014.
In the second quarter of 2014, Botox sales increased 12.9% year over year to $579.4 million. Allergan expects 2014 Botox sales in the range of $2,220 million to $2,280 million.
Meanwhile, Allergan's medical devices segment posted sales of $301.2 million, up 31.4%. While breast aesthetics sales increased 3.2% to $110.2 million, facial aesthetics sales increased 45.6% to $178.3 million.
Other Details
Selling, general and administrative (SG&A) expenses increased 12.9% during the quarter to $683.8 million. Research and development (R&D) expenses amounted to $288.1 million, up 8.4%.
Restructuring Initiatives
Along with the second quarter 2014 results, the company also announced its restructuring plans. Allergan plans to reduce its workforce by 13% (1,500 employees) and eliminate 250 vacant positions. The company stated that approximately 94% of all the customer-facing personnel will be unaffected by the restructuring.
The restructuring plan will be carried out over the rest of the year and is expected to deliver annual pre-tax savings of approximately $475 million in 2015. Allergan plans to streamline its organizational structure and focus on high value opportunities.
The company plans to reduce its expenditure related to commercial organization, general and administrative functions, manufacturing and the R&D organization. These reductions are expected to have a modest impact on net sales growth. The company has reiterated its double-digit sales growth target for the period 2014 to 2019. The company expects to deliver an earnings growth rate of more than 20%.
Guidance Up
Allergan now expects 2014 earnings of $5.74-$5.80 per share as compared to the prior guidance of $5.64-$5.73 per share. The earnings guidance is well above the Zacks Consensus Estimate which is currently at $5.70 per share.
Allergan estimates earnings in the range of $8.20-$8.40 and approximately $10.00 in 2015 and 2016, respectively.
The company expects product net sales in a band of $6,900-$7,050 million in 2014 (previous guidance: $6,775-$7,000 million). The guidance excludes revenues from transition services agreements related to the sale of the obesity intervention business.
For 2014, Allergan expects total specialty pharmaceuticals net sales of $5,865-$5,975 million (previous guidance: $5,835-$6,000 million).
The company expects medical devices net sales of $1,010-$1,050 million (previous guidance: $930-$990 million). Here performance will be driven mainly by facial aesthetics. Facial aesthetics sales are expected in the range of $610 million to $630 million, above the previous guidance of $540 million to $570 million.
Breast aesthetics sales are expected in the range of $400 million to $420 million (prior guidance: $390 million to $420 million).
The company continues to expect cost of sales to product net sales ratio of about 12.5%. The company maintained its guidance for SG&A expense to product net sales ratio at 37%-38% and R&D expense to product net sales ratio at 16.5%.
Allergan expects third quarter earnings in the range of $1.44-$1.47 per share on product net sales of $1,675 million to $1,750 million. The Zacks Consensus Estimate currently stands at $1.44, at the low end of the company's guidance range.
Our Take
Allergan's second quarter results were once again above expectations with the company beating the Zacks Consensus Estimate as well as exceeding its guidance. We are also positive on the restructuring initiatives undertaken by the company. We believe that the initiatives will boost shareholder value.
Although Allergan's presence across different segments will help maintain growth, we remain concerned about the generic and competitive challenges being faced by the company. At present, we expect investor focus to remain on further updates from Valeant Pharmaceuticals International, Inc. ( VRX ) and Allergan on the acquisition proposal. Allergan had rejected Valeant's revised acquisition offer.
Allergan carries a Zacks Rank #2 (Buy). Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan. Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. The restructuring plan will be carried out over the rest of the year and is expected to deliver annual pre-tax savings of approximately $475 million in 2015. | Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan. While breast aesthetics sales increased 3.2% to $110.2 million, facial aesthetics sales increased 45.6% to $178.3 million. | Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan. Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. The company now expects Lumigan franchise sales to be in the range of $600 million to $620 million in 2014 (previous guidance: $590-$620 million). | Investors can also consider stocks like AstraZeneca ( AZN ) and AbbVie Inc. ( ABBV ) carrying the same rank as Allergan. Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report VALEANT PHARMA (VRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. While earnings climbed 23.8% from the year-ago quarter, revenues increased 16.1% to $1,854.5 million, above the Zacks Consensus Estimate of $1,720 million. |
27430.0 | 2014-07-21 00:00:00 UTC | Pre-Market Most Active for Jul 21, 2014 : EMC, AAPL, ORAN, FB, SNY, ERIC, KNDI, ABBV, PHG, AKS, GPRO, QQQ | ABBV | https://www.nasdaq.com/articles/pre-market-most-active-jul-21-2014-emc-aapl-oran-fb-sny-eric-kndi-abbv-phg-aks-gpro-qqq | nan | nan | The NASDAQ 100 Pre-Market Indicator is down -.54 to 3,939.35. The total Pre-Market volume is currently 2,493,644 shares traded.
The following are the most active stocks for the pre-market session :
EMC Corporation ( EMC ) is +1.2 at $28.18, with 1,145,818 shares traded.EMC is scheduled to provide an earnings report on 7/23/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 0.35 per share, which represents a 35 percent increase over the EPS one Year Ago
Apple Inc. ( AAPL ) is +0.17 at $94.60, with 370,883 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2014. The consensus EPS forecast is $1.22. AAPL is scheduled to provide an earnings report on 7/22/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 1.22 per share, which represents a 107 percent increase over the EPS one Year Ago
Orange ( ORAN ) is -0.04 at $15.65, with 326,000 shares traded. As reported by Zacks, the current mean recommendation for ORAN is in the "buy range".
Facebook, Inc. ( FB ) is +0.4701 at $68.89, with 302,289 shares traded.FB is scheduled to provide an earnings report on 7/23/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 0.26 per share, which represents a 13 percent increase over the EPS one Year Ago
Sanofi ( SNY ) is -0.0899 at $51.47, with 300,000 shares traded. SNY's current last sale is 92.74% of the target price of $55.5.
Ericsson ( ERIC ) is -0.13 at $12.58, with 253,986 shares traded. ERIC's current last sale is 89.86% of the target price of $14.
Kandi Technologies Group, Inc. ( KNDI ) is +1.32 at $20.94, with 218,402 shares traded.
AbbVie Inc. ( ABBV ) is -0.82 at $54.09, with 172,432 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 0.76 per share, which represents a 82 percent increase over the EPS one Year Ago
Koninklijke Philips N.V. ( PHG ) is -0.69 at $30.99, with 171,410 shares traded. RTT News Reports: Philips To Combine Lumileds, Automotive Lighting Into A Stand-alone Company
AK Steel Holding Corporation ( AKS ) is +0.17 at $9.00, with 170,082 shares traded., following a 52-week high recorded in prior regular session.
GoPro, Inc. ( GPRO ) is +0.92 at $42.35, with 164,672 shares traded. As reported by Zacks, the current mean recommendation for GPRO is in the "buy range".
PowerShares QQQ Trust, Series 1 ( QQQ ) is -0.2 at $95.92, with 113,574 shares traded. This represents a 29.27% increase from its 52 Week Low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc. ( ABBV ) is -0.82 at $54.09, with 172,432 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. Facebook, Inc. ( FB ) is +0.4701 at $68.89, with 302,289 shares traded.FB is scheduled to provide an earnings report on 7/23/2014, for the fiscal quarter ending Jun2014. RTT News Reports: Philips To Combine Lumileds, Automotive Lighting Into A Stand-alone Company AK Steel Holding Corporation ( AKS ) is +0.17 at $9.00, with 170,082 shares traded., following a 52-week high recorded in prior regular session. | AbbVie Inc. ( ABBV ) is -0.82 at $54.09, with 172,432 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. The following are the most active stocks for the pre-market session : EMC Corporation ( EMC ) is +1.2 at $28.18, with 1,145,818 shares traded.EMC is scheduled to provide an earnings report on 7/23/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 0.35 per share, which represents a 35 percent increase over the EPS one Year Ago Apple Inc. ( AAPL ) is +0.17 at $94.60, with 370,883 shares traded. | AbbVie Inc. ( ABBV ) is -0.82 at $54.09, with 172,432 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 0.35 per share, which represents a 35 percent increase over the EPS one Year Ago Apple Inc. ( AAPL ) is +0.17 at $94.60, with 370,883 shares traded. The consensus earnings per share forecast is 1.22 per share, which represents a 107 percent increase over the EPS one Year Ago Orange ( ORAN ) is -0.04 at $15.65, with 326,000 shares traded. | AbbVie Inc. ( ABBV ) is -0.82 at $54.09, with 172,432 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. The NASDAQ 100 Pre-Market Indicator is down -.54 to 3,939.35. The following are the most active stocks for the pre-market session : EMC Corporation ( EMC ) is +1.2 at $28.18, with 1,145,818 shares traded.EMC is scheduled to provide an earnings report on 7/23/2014, for the fiscal quarter ending Jun2014. |
27431.0 | 2014-07-21 00:00:00 UTC | AbbVie Set to Acquire UK-Based Shire in Q4 - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvie-set-to-acquire-uk-based-shire-in-q4-analyst-blog-2014-07-21 | nan | nan | AbbVie Inc. ( ABBV ) and Shire ( SHPG ) have finally reached an agreement regarding the proposed acquisition of the latter by the former. As per the terms of the merger, AbbVie will pay approximately £53.19 per Shire share (£24.44 in cash and 0.8960 ordinary shares of the merged company for each Shire share). The deal is valued at £31.83 billion or approximately $54.5 billion.
The agreed takeover price of £53.19 per Shire share represents a whopping 53% premium over the unaffected stock price of Shire before merger talks surfaced on May 2, 2014.
If the deal goes through, Shire shareholders will have approximately 25% ownership in the post-merger entity, with AbbVie retaining the rest. The deal is expected to close in the fourth quarter of 2014.
However, AbbVie will be obligated to make a break-fee payment equal to 3% of the total deal value (approximately $1.6 billion) if it decides to walk away from the deal. Meanwhile, if AbbVie shareholders vote against the takeover, the company will pay Shire at least $500 million (up to 1% of the deal value) to compensate for costs, losses and expenses related to the deal.
Both AbbVie and Shire shares gained 2.60% and 1.43% on the news.
What's in it for AbbVie?
The acquisition of Shire will not only add multi-million dollar generating products to AbbVie's portfolio including rare disease drugs, it will also reduce its dependence on Humira. Humira accounted for approximately 57% of the company's total revenues in 2013. Humira is set to go off-patent in the U.S. in Dec 2016 and the EU in Apr 2018.
AbbVie expects the deal to be accretive to its earnings in the first year following the completion of the acquisition. Earnings are expected to increase more than $1.00 per share by 2020 due to financial and operating synergies.
AbbVie intends to form a new listed holding company in the U.S. post acquisition with a UK tax domicile. The deal is expected to reduce AbbVie's effective tax rate to approximately 13% by 2016 from the current effective tax rate (early twenties).
We remind investors that earlier this year, Pfizer Inc. ( PFE ) was actively pursuing AstraZeneca ( AZN ) primarily motivated by potential tax benefits. However, deal did not materialize.
AbbVie carries a Zacks Rank #2 (Buy) while Shire holds a Zacks Rank #3 (Hold). AstraZeneca is a well-ranked stock in the health care sector holding the same Zacks Rank as AbbVie.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The acquisition of Shire will not only add multi-million dollar generating products to AbbVie's portfolio including rare disease drugs, it will also reduce its dependence on Humira. AbbVie intends to form a new listed holding company in the U.S. post acquisition with a UK tax domicile. AbbVie Inc. ( ABBV ) and Shire ( SHPG ) have finally reached an agreement regarding the proposed acquisition of the latter by the former. | The deal is expected to reduce AbbVie's effective tax rate to approximately 13% by 2016 from the current effective tax rate (early twenties). Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc. ( ABBV ) and Shire ( SHPG ) have finally reached an agreement regarding the proposed acquisition of the latter by the former. | As per the terms of the merger, AbbVie will pay approximately £53.19 per Shire share (£24.44 in cash and 0.8960 ordinary shares of the merged company for each Shire share). Meanwhile, if AbbVie shareholders vote against the takeover, the company will pay Shire at least $500 million (up to 1% of the deal value) to compensate for costs, losses and expenses related to the deal. Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. | As per the terms of the merger, AbbVie will pay approximately £53.19 per Shire share (£24.44 in cash and 0.8960 ordinary shares of the merged company for each Shire share). However, AbbVie will be obligated to make a break-fee payment equal to 3% of the total deal value (approximately $1.6 billion) if it decides to walk away from the deal. AbbVie carries a Zacks Rank #2 (Buy) while Shire holds a Zacks Rank #3 (Hold). |
27432.0 | 2014-07-18 00:00:00 UTC | Sector Update: Health Care Shares Mixed Pre-Market | ABBV | https://www.nasdaq.com/articles/sector-update-health-care-shares-mixed-pre-market-2014-07-18 | nan | nan | Top Health-care stocks:
JNJ: +0.35%
PFE: +0.26%
ABT: flat
MRK: -0.17%
AMGN: flat
Health-care shares were mixed along with the broader stock market in pre-market trade Friday.
In health-care stocks news, Laboratory of America ( LH ) on Friday reported mixed financial results for Q2 ended June 30, with net income down from last year despite a 3.3% year-over-year increase in sales. The clinical laboratory company also raised its adjusted EPS guidance for 2014.
Net income for the quarter was $141.3 million, or $1.64 per diluted share, compared to a net income of $151.9 million, or $1.62 per diluted share, in the comparable period last year.
And, AbbVie ( ABBV ) finally won over Shire ( SHPG ) with a $54.8 billion takeover offer but both stocks fell. SHPG was lower 1.2% and ABBV was down 2.3%.
Finally, Regeneron Pharmaceuticals ( REGN ) said that in the Phase 3 VIVID-DME trial of EYLEA injection for the treatment of diabetic macular edema participants showed a sustained improvement from baseline in best-corrected visual acuity, the primary endpoint, at week 100, compared to laser photocoagulation.
REGN was steady at $296.41 in pre-market trade with shares trading in a 52-week range of $227.64 to $352.49.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And, AbbVie ( ABBV ) finally won over Shire ( SHPG ) with a $54.8 billion takeover offer but both stocks fell. SHPG was lower 1.2% and ABBV was down 2.3%. AMGN: flat Health-care shares were mixed along with the broader stock market in pre-market trade Friday. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And, AbbVie ( ABBV ) finally won over Shire ( SHPG ) with a $54.8 billion takeover offer but both stocks fell. SHPG was lower 1.2% and ABBV was down 2.3%. | And, AbbVie ( ABBV ) finally won over Shire ( SHPG ) with a $54.8 billion takeover offer but both stocks fell. SHPG was lower 1.2% and ABBV was down 2.3%. AMGN: flat Health-care shares were mixed along with the broader stock market in pre-market trade Friday. | And, AbbVie ( ABBV ) finally won over Shire ( SHPG ) with a $54.8 billion takeover offer but both stocks fell. SHPG was lower 1.2% and ABBV was down 2.3%. AMGN: flat Health-care shares were mixed along with the broader stock market in pre-market trade Friday. |
27433.0 | 2014-07-18 00:00:00 UTC | Pre-Market Most Active for Jul 18, 2014 : AMD, ALU, ERIC, SNE, ABBV, NQ, GE, TVIX, SWKS, SHPG, AAPL, RP | ABBV | https://www.nasdaq.com/articles/pre-market-most-active-jul-18-2014-amd-alu-eric-sne-abbv-nq-ge-tvix-swks-shpg-aapl-rp-2014 | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 18.88 to 3,896.89. The total Pre-Market volume is currently 3,775,403 shares traded.
The following are the most active stocks for the pre-market session :
Advanced Micro Devices, Inc. ( AMD ) is -0.8 at $3.77, with 7,923,805 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2014. The consensus EPS forecast is $0.07. AMD's current last sale is 91.95% of the target price of $4.1.
Alcatel Lucent ( ALU ) is +0.17 at $3.69, with 1,395,931 shares traded. ALU's current last sale is 82% of the target price of $4.5.
Ericsson ( ERIC ) is +0.88 at $12.57, with 1,062,318 shares traded. RTT News Reports: European Markets Fall Amid Geo-Political Worries
Sony Corp Ord ( SNE ) is -0.04 at $16.66, with 1,001,500 shares traded. As reported by Zacks, the current mean recommendation for SNE is in the "strong buy range".
AbbVie Inc. ( ABBV ) is -0.67 at $52.85, with 951,100 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 0.76 per share, which represents a 82 percent increase over the EPS one Year Ago
NQ Mobile Inc. ( NQ ) is -0.95 at $3.40, with 928,190 shares traded.
General Electric Company ( GE ) is +0.2 at $26.81, with 469,066 shares traded. RTT News Reports: GE Q2 Profit Rises, Meets View; Retail Finance IPO At July End
Credit Suisse AG ( TVIX ) is -0.14 at $3.02, with 319,177 shares traded.
Skyworks Solutions, Inc. ( SWKS ) is +4.41 at $50.75, with 261,722 shares traded. As reported by Zacks, the current mean recommendation for SWKS is in the "buy range".
Shire plc ( SHPG ) is -2.34 at $251.10, with 225,748 shares traded. As reported by Zacks, the current mean recommendation for SHPG is in the "buy range".
Apple Inc. ( AAPL ) is +0.4801 at $93.57, with 221,331 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2014. The consensus EPS forecast is $1.22. AAPL is scheduled to provide an earnings report on 7/22/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 1.22 per share, which represents a 107 percent increase over the EPS one Year Ago
RealPage, Inc. ( RP ) is -5.22 at $16.20, with 199,542 shares traded. As reported in the last short interest update the days to cover for RP is 8.008803; this calculation is based on the average trading volume of the stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc. ( ABBV ) is -0.67 at $52.85, with 951,100 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. RTT News Reports: European Markets Fall Amid Geo-Political Worries Sony Corp Ord ( SNE ) is -0.04 at $16.66, with 1,001,500 shares traded. RTT News Reports: GE Q2 Profit Rises, Meets View; Retail Finance IPO At July End Credit Suisse AG ( TVIX ) is -0.14 at $3.02, with 319,177 shares traded. | AbbVie Inc. ( ABBV ) is -0.67 at $52.85, with 951,100 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 0.76 per share, which represents a 82 percent increase over the EPS one Year Ago NQ Mobile Inc. ( NQ ) is -0.95 at $3.40, with 928,190 shares traded. The consensus earnings per share forecast is 1.22 per share, which represents a 107 percent increase over the EPS one Year Ago RealPage, Inc. ( RP ) is -5.22 at $16.20, with 199,542 shares traded. | AbbVie Inc. ( ABBV ) is -0.67 at $52.85, with 951,100 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 0.76 per share, which represents a 82 percent increase over the EPS one Year Ago NQ Mobile Inc. ( NQ ) is -0.95 at $3.40, with 928,190 shares traded. RTT News Reports: GE Q2 Profit Rises, Meets View; Retail Finance IPO At July End Credit Suisse AG ( TVIX ) is -0.14 at $3.02, with 319,177 shares traded. | AbbVie Inc. ( ABBV ) is -0.67 at $52.85, with 951,100 shares traded.ABBV is scheduled to provide an earnings report on 7/25/2014, for the fiscal quarter ending Jun2014. The NASDAQ 100 Pre-Market Indicator is up 18.88 to 3,896.89. As reported by Zacks, the current mean recommendation for SWKS is in the "buy range". |
27434.0 | 2014-07-17 00:00:00 UTC | Repros Gets Additional FDA Guidance for Androxal - Analyst Blog | ABBV | https://www.nasdaq.com/articles/repros-gets-additional-fda-guidance-for-androxal-analyst-blog-2014-07-17 | nan | nan | Repros Therapeutics Inc. ( RPRX ) announced that it has received additional guidance from the FDA related to its secondary hypogonadism candidate, Androxal. The FDA suggested three co-primary endpoints for the two ongoing phase III studies - ZA-304 and ZA-305 - on Androxal.
The two identical, 17-week, double-blind ZA-304 and ZA-305 studies (n = 120 each) will compare the safety and efficacy of Androxal with a testosterone replacement therapy (topical gel) and placebo in restoring and maintaining testicular function.
The primary endpoints proposed by the FDA were comparing change in sperm concentration in patients receiving Androxal as compared to patients on the leading testosterone replacement therapy in the U.S. and the proportion of men obtaining a testosterone in the normal range. The FDA also recommended comparing the percentage of men that exhibit sperm ≥ 10 million/mL and testosterone in the normal range using Androxal, testosterone gel and placebo at the end of 16 weeks of dosing.
Repros is modifying the primary endpoints and statistical analysis plan for ZA-304 and ZA-305 to incorporate the suggestions made by the FDA. However, this will not affect the schedule for study completion. Repros expects to submit a new drug application (NDA) to the FDA for Androxal for the secondary hypogonadism indication by the end of this year.
Currently prescribed therapies for secondary hypogonadism include AbbVie Inc. 's ( ABBV ) AndroGel.
Repros currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector include BioMarin Pharmaceutical Inc. ( BMRN ) and Biogen Idec Inc. ( BIIB ), each carrying a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Currently prescribed therapies for secondary hypogonadism include AbbVie Inc. 's ( ABBV ) AndroGel. Click to get this free report BIOMARIN PHARMA (BMRN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report REPROS THERAPEU (RPRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. The two identical, 17-week, double-blind ZA-304 and ZA-305 studies (n = 120 each) will compare the safety and efficacy of Androxal with a testosterone replacement therapy (topical gel) and placebo in restoring and maintaining testicular function. | Click to get this free report BIOMARIN PHARMA (BMRN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report REPROS THERAPEU (RPRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Currently prescribed therapies for secondary hypogonadism include AbbVie Inc. 's ( ABBV ) AndroGel. The primary endpoints proposed by the FDA were comparing change in sperm concentration in patients receiving Androxal as compared to patients on the leading testosterone replacement therapy in the U.S. and the proportion of men obtaining a testosterone in the normal range. | Click to get this free report BIOMARIN PHARMA (BMRN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report REPROS THERAPEU (RPRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Currently prescribed therapies for secondary hypogonadism include AbbVie Inc. 's ( ABBV ) AndroGel. The primary endpoints proposed by the FDA were comparing change in sperm concentration in patients receiving Androxal as compared to patients on the leading testosterone replacement therapy in the U.S. and the proportion of men obtaining a testosterone in the normal range. | Click to get this free report BIOMARIN PHARMA (BMRN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report REPROS THERAPEU (RPRX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Currently prescribed therapies for secondary hypogonadism include AbbVie Inc. 's ( ABBV ) AndroGel. Repros is modifying the primary endpoints and statistical analysis plan for ZA-304 and ZA-305 to incorporate the suggestions made by the FDA. |
27435.0 | 2014-07-17 00:00:00 UTC | Eli Lilly and Immunocore Collaborate to Develop Cancer Drugs - Analyst Blog | ABBV | https://www.nasdaq.com/articles/eli-lilly-and-immunocore-collaborate-to-develop-cancer-drugs-analyst-blog-2014-07-17 | nan | nan | Eli Lilly and Company ( LLY ) entered into a co-discovery and co-development agreement with privately held Immunocore Limited for the research and development of new T cell-based cancer treatments.
The companies plan to use Immunocore's Immune Mobilising Monoclonal T-Cell Receptor Against Cancer (ImmTAC) technology. ImmTACs have demonstrated potential to direct T cells to specifically target cancerous cells without damaging healthy cells. We believe Immunocore's technology will help Eli Lilly in developing immuno-oncology therapies.
As per the terms of the agreement, Eli Lilly will make an upfront payment of $15 million to Immunocore on a per program basis for the discovery of novel ImmTACs against jointly selected cancer targets. Post discovery, Eli Lilly will be offered a preclinical candidate package to develop and potentially commercialize. If Eli Lilly accepts this package, it will be obligated to pay an opt-in fee of $10 million to Immunocore.
Immunocore will have the option to continue co-development with Eli Lilly on a cost-sharing and profit-sharing basis. However, if Immunocore does not exercise this option, it will be eligible to receive milestone and royalty payments.
We note that several big players in the heath care sector are looking to develop immuno-oncology therapies. Last month, Pfizer Inc. ( PFE ) entered into an agreement with a France-based biopharmaceutical company, Cellectis, to develop chimeric antigen receptor T-cell (CAR-T) immunotherapies directed at select targets.
Eli Lilly carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Pfizer. All these stocks hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Pfizer. Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report LILLY ELI & CO (LLY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Eli Lilly and Company ( LLY ) entered into a co-discovery and co-development agreement with privately held Immunocore Limited for the research and development of new T cell-based cancer treatments. | Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Pfizer. Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report LILLY ELI & CO (LLY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report LILLY ELI & CO (LLY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Pfizer. Eli Lilly and Company ( LLY ) entered into a co-discovery and co-development agreement with privately held Immunocore Limited for the research and development of new T cell-based cancer treatments. | Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Pfizer. Click to get this free report ASTRAZENECA PLC (AZN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report LILLY ELI & CO (LLY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Eli Lilly and Company ( LLY ) entered into a co-discovery and co-development agreement with privately held Immunocore Limited for the research and development of new T cell-based cancer treatments. |
27436.0 | 2014-07-16 00:00:00 UTC | Abbott Labs Beats on Q2 Earnings and Sales, Boosts Guidance - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbott-labs-beats-q2-earnings-and-sales-boosts-guidance-analyst-blog-2014-07-16 | nan | nan | Abbott Laboratories ( ABT ) reported second quarter 2014 earnings of 54 cents per share, above the Zacks Consensus Estimate of 51 cents.
Earnings were up 17.4% from the year-ago quarter and also above management's guidance range of 50 cents to 52 cents. Including one-time items, second quarter earnings came in at 30 cents per share, flat year over year.
Abbott Labs generated sales of $5.55 billion in the second quarter of 2014, up 1.9% year over year (on a reported basis). Sales were impacted unfavorably by foreign exchange movements during the quarter. Quarterly sales were just above the Zacks Consensus Estimate of $5.52 billion.
Abbott Labs, which has lately been active on the acquisition/ collaboration front to drive growth, reported strong sales from the emerging markets.
Second Quarter in Detail
Abbott Labs operates through four segments, namely, Established Pharmaceuticals Division (EPD), Medical Devices, Diagnostics and Nutrition.
EPD sales declined marginally to $1.22 billion including a negative impact of 2.4% due to currency fluctuations. Sales in key emerging markets climbed 9.7% on an operational basis (excluding foreign currency fluctuations) driven by growth in Brazil, India and China. However, sales from developed and other markets declined 4.7% on an operational basis.
The Medical Devices business generated sales of $1.4 billion, up 1.2% year over year. Diabetes Care sales were down 9.8% due to the implementation of CMS or the competitive bidding for Medicare patients in the U.S. The Vascular business was up 1.9% driven by strong international sales. We note that more than 60% of sales from the Vascular business came from international markets during the quarter.
The Medical Optics business was up 12.2%. Cataract sales, accounting for almost 70% of total Medical Optics sales, outpaced the overall market and recorded double-digit growth propelled by multiple new product launches.
The Nutrition business improved 1.6% year over year to $1.7 billion. Pediatric Nutrition sales declined marginally during the quarter. Sales in this business were adversely impacted by a supplier recall in early Aug 2013 in certain international markets. Adult Nutrition sales grew 4.4%, driven by solid growth of its key brand Ensure. Strong performance in the emerging markets also aided results.
Diagnostics business sales increased 4.8% year over year to $1.2 billion. Key areas of focus in this division include the Core Laboratory Diagnostics, Molecular Diagnostics and Point of Care Diagnostics businesses. Core Laboratory sales increased 5.8% and Point of Care Diagnostics rose 3.7%. Worldwide sales of Molecular Diagnostics were down 2.1%. Sales were adversely impacted by the timing of tenders in the infectious disease business in multiple emerging markets.
2014 Earnings Outlook Raised
Abbott now expects earnings per share in the range of $2.19 to $2.29 in 2014 (old guidance $2.16 to $2.26). The Zacks Consensus Estimate currently stands at $2. 21 per share, within the company's guidance. Shares were up in pre-market trading reflecting investors' enthusiasm about better-than-expected results and improved guidance.
We note that the guidance includes the developed markets generics pharmaceutical business which Abbott agreed to sell to Mylan ( MYL ) for $5.3 billion. The deal is expected to close in the first quarter of 2015.
Abbott Labs carries a Zacks Rank #3 (Hold). Better ranked large cap stocks include Allergan ( AGN ) and AbbVie ( ABBV ). Both stocks sport a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Better ranked large cap stocks include Allergan ( AGN ) and AbbVie ( ABBV ). Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report MYLAN INC (MYL): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Second Quarter in Detail Abbott Labs operates through four segments, namely, Established Pharmaceuticals Division (EPD), Medical Devices, Diagnostics and Nutrition. | Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report MYLAN INC (MYL): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Better ranked large cap stocks include Allergan ( AGN ) and AbbVie ( ABBV ). Sales in key emerging markets climbed 9.7% on an operational basis (excluding foreign currency fluctuations) driven by growth in Brazil, India and China. | Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report MYLAN INC (MYL): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Better ranked large cap stocks include Allergan ( AGN ) and AbbVie ( ABBV ). Abbott Labs generated sales of $5.55 billion in the second quarter of 2014, up 1.9% year over year (on a reported basis). | Better ranked large cap stocks include Allergan ( AGN ) and AbbVie ( ABBV ). Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report MYLAN INC (MYL): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Abbott Laboratories ( ABT ) reported second quarter 2014 earnings of 54 cents per share, above the Zacks Consensus Estimate of 51 cents. |
27437.0 | 2014-07-16 00:00:00 UTC | Notable ETF Inflow Detected - IYH, PFE, JNJ, ABBV | ABBV | https://www.nasdaq.com/articles/notable-etf-inflow-detected-iyh-pfe-jnj-abbv-2014-07-16 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares U.S. Healthcare ETF (Symbol: IYH) where we have detected an approximate $77.2 million dollar inflow -- that's a 3.2% increase week over week in outstanding units (from 18,800,000 to 19,400,000). Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.2%, Johnson & Johnson (Symbol: JNJ) is off about 0.6%, and AbbVie Inc. (Symbol: ABBV) is lower by about 1.8%. The chart below shows the one year price performance of IYH, versus its 200 day moving average:
Looking at the chart above, IYH's low point in its 52 week range is $103.22 per share, with $131.43 as the 52 week high point - that compares with a last trade of $128.30. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average » .
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.2%, Johnson & Johnson (Symbol: JNJ) is off about 0.6%, and AbbVie Inc. (Symbol: ABBV) is lower by about 1.8%. The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $103.22 per share, with $131.43 as the 52 week high point - that compares with a last trade of $128.30. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.2%, Johnson & Johnson (Symbol: JNJ) is off about 0.6%, and AbbVie Inc. (Symbol: ABBV) is lower by about 1.8%. The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $103.22 per share, with $131.43 as the 52 week high point - that compares with a last trade of $128.30. Click here to find out which 9 other ETFs had notable inflows » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.2%, Johnson & Johnson (Symbol: JNJ) is off about 0.6%, and AbbVie Inc. (Symbol: ABBV) is lower by about 1.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares U.S. Healthcare ETF (Symbol: IYH) where we have detected an approximate $77.2 million dollar inflow -- that's a 3.2% increase week over week in outstanding units (from 18,800,000 to 19,400,000). The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $103.22 per share, with $131.43 as the 52 week high point - that compares with a last trade of $128.30. | Among the largest underlying components of IYH, in trading today Pfizer Inc (Symbol: PFE) is up about 0.2%, Johnson & Johnson (Symbol: JNJ) is off about 0.6%, and AbbVie Inc. (Symbol: ABBV) is lower by about 1.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares U.S. Healthcare ETF (Symbol: IYH) where we have detected an approximate $77.2 million dollar inflow -- that's a 3.2% increase week over week in outstanding units (from 18,800,000 to 19,400,000). The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $103.22 per share, with $131.43 as the 52 week high point - that compares with a last trade of $128.30. |
27438.0 | 2014-07-16 00:00:00 UTC | Shire Retreats for Second Day Since Abbvie's Revised Bid as European ADRs Decline; Portugal Telecom Gains | ABBV | https://www.nasdaq.com/articles/shire-retreats-second-day-abbvies-revised-bid-european-adrs-decline-portugal-telecom-gains | nan | nan | Shire Plc ( SHPG ) fell a second day from a record high reached after a sweetened takeover bid, as American depositary receipts of European companies slid.
European ADRs fell 0.4% on average, as measured by the Bank of New York Mellon Europe ADR Index. The S&P 500 Stock Index gained 0.2%. Advancers led decliners 83 to 24.
The decline was in contrast to gains in European markets on Wednesday after Chinese data showed the nation's economic growth accelerated in Q2 and U.K. unemployment fell.
Shire slipped 1.8% to $245.18 per ADR for another day after Abbie Inc. ( ABBV ) sweetened its takeover bid for the Irish drugmaker.
European drug companies were pressured a day after the Federal Reserve said valuations of smaller biotech firms appeared "stretched." Decliners included Amarin Corp. ( AMRN ) -3.6%, Celsus Therapeutics ( CLTX ) and Flamel Technologies SA ( FLML ) -1.3%.
ASML Holding NV (ASML) fell 3.4% to $87.52 per ADR after the Dutch maker of equipment used by chip companies provided disappointing 2014 sales guidance.
European ADR decliners included Voxeljet AG (VJET) -3.9%, Grifols SA (GRFS) -2.1% and Natuzzi SPA (NTZ) -2.1%.
Portugal Telecom SGPS SA (PT) gained 3.9% to $2.65 per ADR after signing an debt and equity exchange agreement with Brazilian wireless company Oi SA (OIBR) that will allow the companies' merger to proceed.
ARM Holdings Plc (ARMH) gained 2.1% to $43.78 per ADR as the chip industry posted broad gains on Intel Corp.'s (INTC) earnings report and upbeat outlook.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shire slipped 1.8% to $245.18 per ADR for another day after Abbie Inc. ( ABBV ) sweetened its takeover bid for the Irish drugmaker. Shire Plc ( SHPG ) fell a second day from a record high reached after a sweetened takeover bid, as American depositary receipts of European companies slid. The decline was in contrast to gains in European markets on Wednesday after Chinese data showed the nation's economic growth accelerated in Q2 and U.K. unemployment fell. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Shire slipped 1.8% to $245.18 per ADR for another day after Abbie Inc. ( ABBV ) sweetened its takeover bid for the Irish drugmaker. European ADR decliners included Voxeljet AG (VJET) -3.9%, Grifols SA (GRFS) -2.1% and Natuzzi SPA (NTZ) -2.1%. | Shire slipped 1.8% to $245.18 per ADR for another day after Abbie Inc. ( ABBV ) sweetened its takeover bid for the Irish drugmaker. Shire Plc ( SHPG ) fell a second day from a record high reached after a sweetened takeover bid, as American depositary receipts of European companies slid. European ADRs fell 0.4% on average, as measured by the Bank of New York Mellon Europe ADR Index. | Shire slipped 1.8% to $245.18 per ADR for another day after Abbie Inc. ( ABBV ) sweetened its takeover bid for the Irish drugmaker. Shire Plc ( SHPG ) fell a second day from a record high reached after a sweetened takeover bid, as American depositary receipts of European companies slid. The S&P 500 Stock Index gained 0.2%. |
27439.0 | 2014-07-16 00:00:00 UTC | Mylan (MYL) Joins the Tax-Inversion Wave - Analyst Blog | ABBV | https://www.nasdaq.com/articles/mylan-myl-joins-tax-inversion-wave-analyst-blog-2014-07-16 | nan | nan | Mylan 's ( MYL ) recent $5.3 billion all stock deal with Abbott Laboratories ( ABT ) has once again emphasized an increasingly important driver of M&A activity this year. Several factors have contributed to the seven-year high in M&A deal value. But recurrent foreign acquisitions by U.S. companies indicate that tax inversion is one of the major reasons.
Increase in M&A Activity
The lack of organic means of growth for many U.S. companies meant that mergers and acquisitions were the next best route to get bigger. The presence of large amounts of cash on corporate balance sheets, favorable credit markets, low interest rates and strength in the stock market provided a conducive environment for M&A activity to gather speed.
Some of the most notable deals include Facebook, Inc 's ( FB ) $19.0 billion buyout of WhatsApp and Actavis plc 's ( ACT ) acquisition of Forest Laboratories for $25.0 billion. Further, Medtronic, Inc. ( MDT ), the world's largest medical devices maker, acquired its Irish rival Covidien Public Limited Company for $42.9 billion.
What Is Tax-Inversion?
Medtronic's $42.9B acquisition of its Irish competitor in surgical technologies and global healthcare major Covidien plc is a good example of the tax inversion process. The deal was an effort to offset the impact of high U.S. corporate tax rate by shifting Medtronic's tax base overseas.
At 35%, the U.S. corporate tax rate is one of the highest rates in the world. A tax inversion involves the acquisition of a foreign company and subsequently adopting its home country's domicile. Alternatively, the combined entity can create a holding company in a country whose tax rate is lower.
This could help U.S. companies reduce their tax rates to single digits. The conditions attached to such a move specify that 20% of the stock of the resultant entity must be transferred to the shareholders of the company which has been acquired.
Popularity in the Healthcare Sector
The inversion wave has affected the healthcare sector the most. Medical devices and pharma companies are rapidly acquiring smaller foreign competitors for two major reasons. Firstly, the industry has been a natural leader in the M&A space. This is because it is usually easier for a large corporation to purchase small companies than to develop new drugs indigenously. Secondly, the market for drugs is truly international.
Additionally, several large pharma companies already have considerably large international profits. Tax inversion removes the necessity of repatriating such profits, making them subject to a higher tax rate. A strong European pharma sector also makes for several potential targets.
Major Deals This Week
Ultimately, as several healthcare companies conclude inversion deals, others are pressured to follow suit. This week alone markets received news of two such massive deals. Mylan will acquire Abbott Labs' branded specialty and generics business in developed ex-U.S. markets for $5.3 billion. The new company, organized in the Netherlands, will be headed by Mylan's present leadership group.
Mylan stated in its press release that in the first full year following closure, its tax rate will be in the range of 20% to 21% and decline further (high teens) going forward. The formation of the combined entity is expected to result in more than $200 million in pre-tax operational efficiencies by the end of the third year.
Meanwhile, a fifth offer of $53 billion from Chicago-based AbbVie ( ABBV ) has received tentative approval from Irish drug company Shire ( SHPG ). This would be the biggest deal of the year upon completion.
Senate Roadblocks Ahead?
Earlier this week, Treasury Secretary Jack Lew said Congress should pass legislation to end tax inversions. In his letter to Congressional leaders Lew said: "We should not be providing support for corporations that seek to shift their profits overseas to avoid paying their fair share of taxes."
However, the legislation, similar to a provision in the latest federal budget proposal, is unlikely to find favor with Congress as a whole. There is broad agreement in principle among a large section of Congress about the need to amend the tax code. This would entail lowering the corporate tax rate of 35% and firming up international tax rules. However, Republicans and Democrats have not been able to agree on the details as well as on changes in individual taxation.
In Conclusion
Given the current regulatory environment, it is unlikely that deals involving tax inversion will face regulatory roadblocks in the short term. The benefits to the companies involved are more than apparent. This is particularly true for the healthcare sector. Clearly, more M&A activity involving tax-inversion can be expected in the days ahead.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Meanwhile, a fifth offer of $53 billion from Chicago-based AbbVie ( ABBV ) has received tentative approval from Irish drug company Shire ( SHPG ). Click to get this free report MYLAN INC (MYL): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report To read this article on Zacks.com click here. Mylan 's ( MYL ) recent $5.3 billion all stock deal with Abbott Laboratories ( ABT ) has once again emphasized an increasingly important driver of M&A activity this year. | Click to get this free report MYLAN INC (MYL): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report To read this article on Zacks.com click here. Meanwhile, a fifth offer of $53 billion from Chicago-based AbbVie ( ABBV ) has received tentative approval from Irish drug company Shire ( SHPG ). Mylan 's ( MYL ) recent $5.3 billion all stock deal with Abbott Laboratories ( ABT ) has once again emphasized an increasingly important driver of M&A activity this year. | Click to get this free report MYLAN INC (MYL): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report To read this article on Zacks.com click here. Meanwhile, a fifth offer of $53 billion from Chicago-based AbbVie ( ABBV ) has received tentative approval from Irish drug company Shire ( SHPG ). The deal was an effort to offset the impact of high U.S. corporate tax rate by shifting Medtronic's tax base overseas. | Meanwhile, a fifth offer of $53 billion from Chicago-based AbbVie ( ABBV ) has received tentative approval from Irish drug company Shire ( SHPG ). Click to get this free report MYLAN INC (MYL): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report To read this article on Zacks.com click here. Mylan 's ( MYL ) recent $5.3 billion all stock deal with Abbott Laboratories ( ABT ) has once again emphasized an increasingly important driver of M&A activity this year. |
27440.0 | 2014-07-14 00:00:00 UTC | Shire ADRs Hit Record High on Sweetened Abbvie Bid as Broader European ADRs Flat; Tenaris Falls on WTO Steel Ruling | ABBV | https://www.nasdaq.com/articles/shire-adrs-hit-record-high-sweetened-abbvie-bid-broader-european-adrs-flat-tenaris-falls | nan | nan | Shire Plc ( SHPG ) reached a record high after Abbvie Inc. ( ABBV ) boosted its takeover offer for the Irish drugmaker as most American depositary receipts of European companies were little changed.
European markets gained broadly after investor fears about the health of Portuguese banks subsided.
European ADRs slipped by 0.1% on average, as measured by the Bank of New York Mellon Europe ADR Index, compared with a 0.6% gain for the S&P 500 Stock Index.
Shire rose as much as 2% to reach a record high of $254.90 per ADR after its board of directors signaled its willingness to recommended a takeover by Chicago-based Abbvie on certain conditions.
Portugal Telecom SGPS Sa ( PT ) rose 2.9% to $2.56 per ADR on ebbing fears about the health of Portuguese banks. Brazil's government also indicated it doesn't see the company's proposed takeover of Brazilian wireless carrier Oi SA ( OIBR ) as in danger of falling through.
European ADR gainers included Credit Suisse Group ( CS ) +2.4%, Turkcell Iletsim Hizmet (TKC) +2.2% and Arcelormittal SA (MT) +2.25.
Tenaris SA (TS), a maker of steel pipes domiciled in Luxembourg, fell 4.6% to $45.56 per ADR after the World Trade Organization said the U.S. violated trade rules by imposing tariffs on Chinese steel.
Randgold Resources Ltd. (GOLD) fell 3.4% to $86.31 per ADR as the price of gold dropped the most in almost seven months on easing fears about Portugal's banks.
European ADR decliners included Mechel OAO (MTL) -2.5%, Vimpelcom Ltd. (VIP) -1.9% and CGG (CGG) -1.1%.
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Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shire Plc ( SHPG ) reached a record high after Abbvie Inc. ( ABBV ) boosted its takeover offer for the Irish drugmaker as most American depositary receipts of European companies were little changed. Shire rose as much as 2% to reach a record high of $254.90 per ADR after its board of directors signaled its willingness to recommended a takeover by Chicago-based Abbvie on certain conditions. European ADR gainers included Credit Suisse Group ( CS ) +2.4%, Turkcell Iletsim Hizmet (TKC) +2.2% and Arcelormittal SA (MT) +2.25. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Shire Plc ( SHPG ) reached a record high after Abbvie Inc. ( ABBV ) boosted its takeover offer for the Irish drugmaker as most American depositary receipts of European companies were little changed. Shire rose as much as 2% to reach a record high of $254.90 per ADR after its board of directors signaled its willingness to recommended a takeover by Chicago-based Abbvie on certain conditions. | Shire Plc ( SHPG ) reached a record high after Abbvie Inc. ( ABBV ) boosted its takeover offer for the Irish drugmaker as most American depositary receipts of European companies were little changed. Shire rose as much as 2% to reach a record high of $254.90 per ADR after its board of directors signaled its willingness to recommended a takeover by Chicago-based Abbvie on certain conditions. European ADRs slipped by 0.1% on average, as measured by the Bank of New York Mellon Europe ADR Index, compared with a 0.6% gain for the S&P 500 Stock Index. | Shire Plc ( SHPG ) reached a record high after Abbvie Inc. ( ABBV ) boosted its takeover offer for the Irish drugmaker as most American depositary receipts of European companies were little changed. Shire rose as much as 2% to reach a record high of $254.90 per ADR after its board of directors signaled its willingness to recommended a takeover by Chicago-based Abbvie on certain conditions. European markets gained broadly after investor fears about the health of Portuguese banks subsided. |
27441.0 | 2014-07-14 00:00:00 UTC | Company News for July 14, 2014 - Corporate Summary | ABBV | https://www.nasdaq.com/articles/company-news-for-july-14-2014-corporate-summary-2014-07-14 | nan | nan | • Shire plc's ( SHPG ) shares rose 4.4% following news that AbbVie Inc. ( ABBV ) may buy the biopharma company
• Shares of E2open, Inc. ( EOPN ) dropped 5.2% after posting first quarter 2015 loss per share of $0.20, wider than previous quarter's loss per share by a cent
• Fastenal Company's ( FAST ) shares declined 4.2% after reporting second quarter net sales of $949.9 million, missing the Zacks Consensus Estimate of $951 million
• Shares of Whirlpool Corp. ( WHR ) gained 1.1% after announcing that it will acquire a 66.8% stake in Indesit Company for around $1 billion
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | • Shire plc's ( SHPG ) shares rose 4.4% following news that AbbVie Inc. ( ABBV ) may buy the biopharma company • Shares of E2open, Inc. ( EOPN ) dropped 5.2% after posting first quarter 2015 loss per share of $0.20, wider than previous quarter's loss per share by a cent • Fastenal Company's ( FAST ) shares declined 4.2% after reporting second quarter net sales of $949.9 million, missing the Zacks Consensus Estimate of $951 million • Shares of Whirlpool Corp. ( WHR ) gained 1.1% after announcing that it will acquire a 66.8% stake in Indesit Company for around $1 billion Want the latest recommendations from Zacks Investment Research? Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report E2OPEN INC (EOPN): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report WHIRLPOOL CORP (WHR): Free Stock Analysis Report To read this article on Zacks.com click here. Today, you can download 7 Best Stocks for the Next 30 Days. | • Shire plc's ( SHPG ) shares rose 4.4% following news that AbbVie Inc. ( ABBV ) may buy the biopharma company • Shares of E2open, Inc. ( EOPN ) dropped 5.2% after posting first quarter 2015 loss per share of $0.20, wider than previous quarter's loss per share by a cent • Fastenal Company's ( FAST ) shares declined 4.2% after reporting second quarter net sales of $949.9 million, missing the Zacks Consensus Estimate of $951 million • Shares of Whirlpool Corp. ( WHR ) gained 1.1% after announcing that it will acquire a 66.8% stake in Indesit Company for around $1 billion Want the latest recommendations from Zacks Investment Research? Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report E2OPEN INC (EOPN): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report WHIRLPOOL CORP (WHR): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | • Shire plc's ( SHPG ) shares rose 4.4% following news that AbbVie Inc. ( ABBV ) may buy the biopharma company • Shares of E2open, Inc. ( EOPN ) dropped 5.2% after posting first quarter 2015 loss per share of $0.20, wider than previous quarter's loss per share by a cent • Fastenal Company's ( FAST ) shares declined 4.2% after reporting second quarter net sales of $949.9 million, missing the Zacks Consensus Estimate of $951 million • Shares of Whirlpool Corp. ( WHR ) gained 1.1% after announcing that it will acquire a 66.8% stake in Indesit Company for around $1 billion Want the latest recommendations from Zacks Investment Research? Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report E2OPEN INC (EOPN): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report WHIRLPOOL CORP (WHR): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | • Shire plc's ( SHPG ) shares rose 4.4% following news that AbbVie Inc. ( ABBV ) may buy the biopharma company • Shares of E2open, Inc. ( EOPN ) dropped 5.2% after posting first quarter 2015 loss per share of $0.20, wider than previous quarter's loss per share by a cent • Fastenal Company's ( FAST ) shares declined 4.2% after reporting second quarter net sales of $949.9 million, missing the Zacks Consensus Estimate of $951 million • Shares of Whirlpool Corp. ( WHR ) gained 1.1% after announcing that it will acquire a 66.8% stake in Indesit Company for around $1 billion Want the latest recommendations from Zacks Investment Research? Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report E2OPEN INC (EOPN): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report WHIRLPOOL CORP (WHR): Free Stock Analysis Report To read this article on Zacks.com click here. Today, you can download 7 Best Stocks for the Next 30 Days. |
27442.0 | 2014-07-14 00:00:00 UTC | Pre-Market Most Active for Jul 14, 2014 : C, URS, AV, BAC, ABBV, MYL, PGNX, AAPL, GTAT, ALU, EXEL, QQQ | ABBV | https://www.nasdaq.com/articles/pre-market-most-active-jul-14-2014-c-urs-av-bac-abbv-myl-pgnx-aapl-gtat-alu-exel-qqq-2014 | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 11.78 to 3,916.36. The total Pre-Market volume is currently 5,279,460 shares traded.
The following are the most active stocks for the pre-market session :
Citigroup Inc. ( C ) is +1.83 at $48.83, with 1,682,191 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2014. The consensus EPS forecast is $1.14. RTT News Reports: Citigroup Q2 Profit Plunges - Quick Facts
URS Corporation ( URS ) is +4.78 at $56.80, with 887,221 shares traded. As reported in the last short interest update the days to cover for URS is 11.876548; this calculation is based on the average trading volume of the stock.
Aviva plc ( AV ) is -0.16 at $16.87, with 879,223 shares traded.
Bank of America Corporation ( BAC ) is +0.25 at $15.63, with 827,941 shares traded.BAC is scheduled to provide an earnings report on 7/16/2014, for the fiscal quarter ending Jun2014. The consensus earnings per share forecast is 0.29 per share, which represents a 32 percent increase over the EPS one Year Ago
AbbVie Inc. ( ABBV ) is -1.34 at $53.62, with 697,105 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range".
Mylan Inc. ( MYL ) is +1.11 at $51.31, with 641,341 shares traded. As reported in the last short interest update the days to cover for MYL is 10.264677; this calculation is based on the average trading volume of the stock.
Progenics Pharmaceuticals Inc. ( PGNX ) is +0.51 at $4.75, with 513,435 shares traded. PGNX's current last sale is 50% of the target price of $9.5.
Apple Inc. ( AAPL ) is +0.66 at $95.88, with 484,122 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2014. The consensus EPS forecast is $2.29. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
GT Advanced Technologies, Inc. ( GTAT ) is -1 at $15.05, with 452,885 shares traded. GTAT's current last sale is 70% of the target price of $21.5.
Alcatel Lucent ( ALU ) is +0.065 at $3.53, with 450,807 shares traded. ALU's current last sale is 78.33% of the target price of $4.5.
Exelixis, Inc. ( EXEL ) is +0.405 at $3.73, with 318,809 shares traded. As reported in the last short interest update the days to cover for EXEL is 19.177833; this calculation is based on the average trading volume of the stock.
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.41 at $95.68, with 294,993 shares traded. This represents a 28.95% increase from its 52 Week Low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The consensus earnings per share forecast is 0.29 per share, which represents a 32 percent increase over the EPS one Year Ago AbbVie Inc. ( ABBV ) is -1.34 at $53.62, with 697,105 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". As reported in the last short interest update the days to cover for URS is 11.876548; this calculation is based on the average trading volume of the stock. | The consensus earnings per share forecast is 0.29 per share, which represents a 32 percent increase over the EPS one Year Ago AbbVie Inc. ( ABBV ) is -1.34 at $53.62, with 697,105 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". As reported in the last short interest update the days to cover for URS is 11.876548; this calculation is based on the average trading volume of the stock. | The consensus earnings per share forecast is 0.29 per share, which represents a 32 percent increase over the EPS one Year Ago AbbVie Inc. ( ABBV ) is -1.34 at $53.62, with 697,105 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". As reported in the last short interest update the days to cover for URS is 11.876548; this calculation is based on the average trading volume of the stock. | The consensus earnings per share forecast is 0.29 per share, which represents a 32 percent increase over the EPS one Year Ago AbbVie Inc. ( ABBV ) is -1.34 at $53.62, with 697,105 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". PGNX's current last sale is 50% of the target price of $9.5. |
27443.0 | 2014-07-14 00:00:00 UTC | Roche Presents Encouraging Data on Cobimetinib - Analyst Blog | ABBV | https://www.nasdaq.com/articles/roche-presents-encouraging-data-on-cobimetinib-analyst-blog-2014-07-14 | nan | nan | Roche ( RHHBY ) announced that its phase III study, coBRIM, on pipeline candidate, cobimetinib, achieved its primary endpoint.
The data from the study showed that MEK inhibitor cobimetinib used in combination with Roche's BRAF inhibitor Zelboraf was effective in treating patients with previously untreated BRAF V600 mutation-positive advanced melanoma. The combination helped patients to live significantly longer without their disease worsening as compared to Zelboraf alone.
Consequently, the study met its primary endpoint of progression free survival.
Roche expects to present data from the study at an upcoming medical meeting. Roche also expects to submit the data from the study to the FDA for a potential approval in the U.S.
Roche is developing cobimetinib in collaboration with Exelixis Inc. ( EXEL ). We remind investors that Zelboraf, a BRAFV600-targeted therapy, is approved for the treatment of adult patients with BRAFV600 mutation-positive unresectable or metastatic melanoma in more than 80 countries. The drug was launched in 2011.
Sales from Zelboraf came in at CHF 79 million in the first quarter of 2014, down 2% due to competition in the U.S.
The successful development and commercialization of cobimetinib will further boost Roche's skin cancer franchise.
We note that cobimetinib is also being developed in combination with other candidates as an immunotherapy, in several tumor types, including non-small cell lung cancer and colorectal cancer.
Roche, a large cap pharma, currently carries a Zacks Rank #3 (hold). Some better-ranked large cap pharmas in the industry include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). Both the stocks carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked large cap pharmas in the industry include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). Click to get this free report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report EXELIXIS INC (EXEL): Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report EXELIXIS INC (EXEL): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked large cap pharmas in the industry include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). | Click to get this free report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report EXELIXIS INC (EXEL): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked large cap pharmas in the industry include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). | Click to get this free report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report EXELIXIS INC (EXEL): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked large cap pharmas in the industry include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). |
27444.0 | 2014-07-14 00:00:00 UTC | Sanofi's Dengue Vaccine Data Published - Analyst Blog | ABBV | https://www.nasdaq.com/articles/sanofis-dengue-vaccine-data-published-analyst-blog-2014-07-14 | nan | nan | Sanofi 's ( SNY ) vaccines division, Sanofi Pasteur, announced that The Lancet has published data from a phase III study on the company's dengue vaccine candidate.
The randomized, observer-blind, placebo-controlled, multi-center phase III study enrolled 10,275 children aged between 2 and 14 years in Asia. The study compared the use of three injections of the dengue vaccine and placebo at intervals of six months.
Data from the study revealed that the use of the dengue vaccine resulted in an 88.5% reduction of dengue hemorrhagic fever (the severe form of dengue). Additionally, a clinically important reduction in the risk of hospitalization due to dengue (67%) and overall efficacy against symptomatic dengue (56.5%) was also observed.
According to the World Health Organization (WHO), approximately 100 million people suffer from dengue infection each year. Record breaking epidemics in several countries including Brazil and Singapore were observed in 2013. The WHO has targeted to reduce morbidity and mortality by 25% and 50% by 2020, respectively.
However, there is no specific treatment currently available for this disease, indicating an unmet market need. Sanofi aims to tap this market with its dengue vaccine candidate. Another pivotal phase III study on the dengue vaccine is ongoing in Latin America.
We note that Sanofi possesses one of the world's leading vaccine operations with total sales of €3.7 billion in 2013. The company's portfolio includes pediatric vaccines, influenza vaccines, adult and adolescent booster vaccines, meningitis vaccines, and travel and endemic vaccines. Sanofi also has a strong position in both seasonal and pre-pandemic influenza vaccines. Sanofi continues to expand its vaccine business. We expect a significant ramp in vaccine sales over the next several years.
Sanofi carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Johnson & Johnson ( JNJ ). All these stocks hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Johnson & Johnson ( JNJ ). Click to get this free report SANOFI-AVENTIS (SNY): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. The randomized, observer-blind, placebo-controlled, multi-center phase III study enrolled 10,275 children aged between 2 and 14 years in Asia. | Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Johnson & Johnson ( JNJ ). Click to get this free report SANOFI-AVENTIS (SNY): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report SANOFI-AVENTIS (SNY): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Johnson & Johnson ( JNJ ). Sanofi 's ( SNY ) vaccines division, Sanofi Pasteur, announced that The Lancet has published data from a phase III study on the company's dengue vaccine candidate. | Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ), AstraZeneca ( AZN ) and Johnson & Johnson ( JNJ ). Click to get this free report SANOFI-AVENTIS (SNY): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Sanofi 's ( SNY ) vaccines division, Sanofi Pasteur, announced that The Lancet has published data from a phase III study on the company's dengue vaccine candidate. |
27445.0 | 2014-07-14 00:00:00 UTC | Close Update: Stocks Rally on Citigroup Earnings Beat, M&A Activity | ABBV | https://www.nasdaq.com/articles/close-update%3A-stocks-rally-on-citigroup-earnings-beat-ma-activity-2014-07-14 | nan | nan | Encouraged by upbeat earnings from Citigroup ( C ) and multi-billion dollar deals in the pharmaceutical sector, investors shrugged off geo-political pressures and poured back into equities on Monday, driving the Dow Industrials to another record high.
Last week's losses tied to Portugal's banking crisis and worries over Q2 earnings were reversed after Citigroup shares jumped higher on an earnings beat despite a $7 billion judgement levied against the bank by the Justice Department. Health care and industrials were given a shot-in-the arm by M&A deals between Mylan ( MYL ) and Abbott Labs ( ABT ), AbbVie ( ABBV ) and Shire Plc ( SHPG ),and ConAgra Foods (CAG) and Inner Mongolia potato processor TaiMei.
In commodities, gold put in its worst performance this year as the risk-aversion to equities dissipated. The precious metal fell to a 3-week low of $1,302.00 per ounce, taking platinum and silver down in sympathy. Energy prices also fell with crude oil at a two-week low and just above $100 per barrel.
Here's where the markets stood at the close:
US MARKETS
Dow Jones Industrial Index was up 111.61 (+0.66%) to 17,055.42
S&P 500 was up 9.53 (+0.48%) to 1,977.10
Nasdaq Composite Index was up 24.93 (+0.56%) to 4,440.42
GLOBAL SENTIMENT
FTSE 100 was up 0.84%
Nikkei 225 was up 0.88%
Hang Seng Index was up 0.49%
Shanghai China Composite Index was up 0.96%
UPSIDE MOVERS
(+) PRGO Israeli media claims investment bank hired to explore strategic alternatives
(+) SCOK Changing its name to Clean Synthetic Technologies to highlight focus on clean energy products
(+) PGNX FDA approved Salix Pharmaceuticals (SLXP) and Progenics Pharmaceuticals' RELISTOR.
DOWNSIDE MOVERS
(-) TRGT Alzheimer disease treatment TC-1734 did not meet the objective of showing superiority to donepezil
(-) MRKT Barclays initiates coverage with Equal Weight rating
(-) HLIT Cuts Q2 guidance below prior view, street estimates.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Health care and industrials were given a shot-in-the arm by M&A deals between Mylan ( MYL ) and Abbott Labs ( ABT ), AbbVie ( ABBV ) and Shire Plc ( SHPG ),and ConAgra Foods (CAG) and Inner Mongolia potato processor TaiMei. Encouraged by upbeat earnings from Citigroup ( C ) and multi-billion dollar deals in the pharmaceutical sector, investors shrugged off geo-political pressures and poured back into equities on Monday, driving the Dow Industrials to another record high. (-) TRGT Alzheimer disease treatment TC-1734 did not meet the objective of showing superiority to donepezil (-) MRKT Barclays initiates coverage with Equal Weight rating (-) HLIT Cuts Q2 guidance below prior view, street estimates. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Health care and industrials were given a shot-in-the arm by M&A deals between Mylan ( MYL ) and Abbott Labs ( ABT ), AbbVie ( ABBV ) and Shire Plc ( SHPG ),and ConAgra Foods (CAG) and Inner Mongolia potato processor TaiMei. Dow Jones Industrial Index was up 111.61 (+0.66%) to 17,055.42 S&P 500 was up 9.53 (+0.48%) to 1,977.10 Nasdaq Composite Index was up 24.93 (+0.56%) to 4,440.42 | Health care and industrials were given a shot-in-the arm by M&A deals between Mylan ( MYL ) and Abbott Labs ( ABT ), AbbVie ( ABBV ) and Shire Plc ( SHPG ),and ConAgra Foods (CAG) and Inner Mongolia potato processor TaiMei. Encouraged by upbeat earnings from Citigroup ( C ) and multi-billion dollar deals in the pharmaceutical sector, investors shrugged off geo-political pressures and poured back into equities on Monday, driving the Dow Industrials to another record high. (+) PRGO Israeli media claims investment bank hired to explore strategic alternatives (+) SCOK Changing its name to Clean Synthetic Technologies to highlight focus on clean energy products (+) PGNX FDA approved Salix Pharmaceuticals (SLXP) and Progenics Pharmaceuticals' RELISTOR. | Health care and industrials were given a shot-in-the arm by M&A deals between Mylan ( MYL ) and Abbott Labs ( ABT ), AbbVie ( ABBV ) and Shire Plc ( SHPG ),and ConAgra Foods (CAG) and Inner Mongolia potato processor TaiMei. Last week's losses tied to Portugal's banking crisis and worries over Q2 earnings were reversed after Citigroup shares jumped higher on an earnings beat despite a $7 billion judgement levied against the bank by the Justice Department. Dow Jones Industrial Index was up 111.61 (+0.66%) to 17,055.42 S&P 500 was up 9.53 (+0.48%) to 1,977.10 Nasdaq Composite Index was up 24.93 (+0.56%) to 4,440.42 |
27446.0 | 2014-07-14 00:00:00 UTC | Shire Meets AbbVie for Acquisition Deal - Analyst Blog | ABBV | https://www.nasdaq.com/articles/shire-meets-abbvie-for-acquisition-deal-analyst-blog-2014-07-14 | nan | nan | Shire ( SHPG ) announced that it held a meeting with representatives of AbbVie ( ABBV ) in connection with the latter's acquisition proposal.
Shire will provide an update on the meeting as and when appropriate. The company once again urged its shareholders not to take any action in relation to the proposal.
We note that last week AbbVie increased its bid to acquire Shire for approximately £51.15 per Shire share (£22.44 in cash and 0.8568 ordinary shares of the merged company for each Shire share). This was the fourth proposal made by AbbVie.
Shire did not reject the offer outright and indicated that its board will meet to consider the revised proposal.
Earlier, Shire's board unanimously rejected the offer three times as it believed that the proposal fundamentally undervalues the company and its prospects.
The acquisition proposal also included a new listed holding company in the U.S. post acquisition with a UK tax domicile. Shire also had reservations about the proposed inversion structure as AbbVie would redomicile in the UK for tax purposes.
We expect investor focus to remain on further updates from the acquisition proposal.
Shire holds a strong position in the attention deficit and hyperactivity disorder (ADHD) market driven by key drugs like Vyvanse, Intuniv and Adderall XR. In a bid to strengthen its portfolio of rare disease drugs, the company acquired erstwhile ViroPharma for approximately $50 per share or $4.2 billion earlier in 2014.
Shire currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the healthcare sector include Allergan ( AGN ) and Johnson & Johnson ( JNJ ). Both the stocks carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shire ( SHPG ) announced that it held a meeting with representatives of AbbVie ( ABBV ) in connection with the latter's acquisition proposal. We note that last week AbbVie increased its bid to acquire Shire for approximately £51.15 per Shire share (£22.44 in cash and 0.8568 ordinary shares of the merged company for each Shire share). This was the fourth proposal made by AbbVie. | Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. Shire ( SHPG ) announced that it held a meeting with representatives of AbbVie ( ABBV ) in connection with the latter's acquisition proposal. We note that last week AbbVie increased its bid to acquire Shire for approximately £51.15 per Shire share (£22.44 in cash and 0.8568 ordinary shares of the merged company for each Shire share). | We note that last week AbbVie increased its bid to acquire Shire for approximately £51.15 per Shire share (£22.44 in cash and 0.8568 ordinary shares of the merged company for each Shire share). Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. Shire ( SHPG ) announced that it held a meeting with representatives of AbbVie ( ABBV ) in connection with the latter's acquisition proposal. | Shire ( SHPG ) announced that it held a meeting with representatives of AbbVie ( ABBV ) in connection with the latter's acquisition proposal. We note that last week AbbVie increased its bid to acquire Shire for approximately £51.15 per Shire share (£22.44 in cash and 0.8568 ordinary shares of the merged company for each Shire share). This was the fourth proposal made by AbbVie. |
27447.0 | 2014-07-11 00:00:00 UTC | Abbott Labs, Fonterra Collaborate for Dairy Farm Hub in China - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbott-labs-fonterra-collaborate-for-dairy-farm-hub-in-china-analyst-blog-2014-07-11 | nan | nan | Abbott Laboratories ( ABT ) announced that it has signed an agreement with New Zealand-based Fonterra Co-operative Group Ltd. for the development of a proposed dairy farm hub in China. The alliance, pending regulatory approval in China, will leverage Fonterra's expertise in dairy nutrition and farming in China.
Upon approval, Abbott Labs and Fonterra will form a joint venture to invest a combined $300 million into the farm hub. The hub will contain up to five dairy farms and more than 16,000 dairy milking cattle in production. Abbott Labs expects the development of the first farm to be complete and operational in the first half of 2017 while the remaining farms will commence production in 2018.
The alliance is a step forward in Abbott Labs' strategic decision to invest in China in the long term. Abbott Labs expects to invest $400 million in its China operations in 2014.
In Jun 2014, Abbott Labs opened a state-of-the-art nutritional manufacturing facility in Jiaxin. In addition, it opened two research and development centers in Shanghai earlier in the year.
China is a key emerging market for Abbott Labs. We note that Abbott Labs' international nutrition sales were adversely impacted by a supplier recall initiated in Aug 2013 in China and two other markets for certain pediatric nutritional products. Although there were no quality issues with the recalled products and the supplier subsequently determined the products were safe for consumption, sales were disrupted.
Abbott Labs, a large-cap pharma, currently, carries a Zacks Rank #2 (Buy). Other large cap pharmas which look attractive include AbbVie ( ABBV ), Allergan ( AGN ) and Johnson & Johnson ( JNJ ). All three carry a Zacks Rank #2.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other large cap pharmas which look attractive include AbbVie ( ABBV ), Allergan ( AGN ) and Johnson & Johnson ( JNJ ). Click to get this free report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. Abbott Laboratories ( ABT ) announced that it has signed an agreement with New Zealand-based Fonterra Co-operative Group Ltd. for the development of a proposed dairy farm hub in China. | Other large cap pharmas which look attractive include AbbVie ( ABBV ), Allergan ( AGN ) and Johnson & Johnson ( JNJ ). Click to get this free report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. Other large cap pharmas which look attractive include AbbVie ( ABBV ), Allergan ( AGN ) and Johnson & Johnson ( JNJ ). Abbott Labs expects the development of the first farm to be complete and operational in the first half of 2017 while the remaining farms will commence production in 2018. | Click to get this free report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. Other large cap pharmas which look attractive include AbbVie ( ABBV ), Allergan ( AGN ) and Johnson & Johnson ( JNJ ). Abbott Labs expects to invest $400 million in its China operations in 2014. |
27448.0 | 2014-07-11 00:00:00 UTC | Sector Update: Health Care Stocks Ending Mixed; Achillion Pharmaceutical Easing From M&A-Fueled Afternoon Rally | ABBV | https://www.nasdaq.com/articles/sector-update-health-care-stocks-ending-mixed-achillion-pharmaceutical-easing-ma-fueled | nan | nan | Top Health Care Stocks
JNJ -0.68%
PFE +0.22%
ABT +0.07%
MRK -0.09%
AMGN +0.74%
Health care stocks were narrowly mixed in late trade with the NYSE Health Care Sector Index retreating less than 0.1% and shares of health care companies in the S&P 500 adding about 0.2% as a group.
In company news, Achillion Pharmaceuticals ( ACHN ) climbed steadily throughout Friday's session amid renewed Internet chatter the biotech may be an acquisition target with Gilead Sciences ( GILD ) most frequently mentioned as the likely buyer.
The companies nearly a decade ago signed a collaboration pact giving GILD worldwide development and commercialization rights to ACHN's prospective hepatitis C treatments but scrapped that arrangement in February 2012. ACHN continues to work on its own HCV drug, sovaprevir, with the FDA last month lifting a clinical hold that began in June 2013 after some trial participants were found with elevated levels of liver enzymes.
ACHD shares recently were up about 8.8% at $7.65, easing slightly from a session high today of $7.89 a share, up nearly 12%. The stock has a 52-week range of $2.36 to $8.61, rising nearly 19% over the past 12 month, including a 165% one-day rise June 9 after Merck ( MRK ) said it was buying Idenix ( IDIX ) for nearly $4 billion.
Like ACHN and GILD, IDIX has been working on a possible HCV treatment.
In other sector news,
(+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock.
(-) TNXP, Prices private placement of 657,000 shares at $11.90 each, a 5% discount to Thursday's closing price. The $7.8 mln in proceeds, after paying offering expenses, to fund clinical testing of its drug candidates.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In other sector news, (+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock. In company news, Achillion Pharmaceuticals ( ACHN ) climbed steadily throughout Friday's session amid renewed Internet chatter the biotech may be an acquisition target with Gilead Sciences ( GILD ) most frequently mentioned as the likely buyer. The companies nearly a decade ago signed a collaboration pact giving GILD worldwide development and commercialization rights to ACHN's prospective hepatitis C treatments but scrapped that arrangement in February 2012. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In other sector news, (+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock. Health care stocks were narrowly mixed in late trade with the NYSE Health Care Sector Index retreating less than 0.1% and shares of health care companies in the S&P 500 adding about 0.2% as a group. | In other sector news, (+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock. Health care stocks were narrowly mixed in late trade with the NYSE Health Care Sector Index retreating less than 0.1% and shares of health care companies in the S&P 500 adding about 0.2% as a group. The companies nearly a decade ago signed a collaboration pact giving GILD worldwide development and commercialization rights to ACHN's prospective hepatitis C treatments but scrapped that arrangement in February 2012. | In other sector news, (+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock. Top Health Care Stocks The companies nearly a decade ago signed a collaboration pact giving GILD worldwide development and commercialization rights to ACHN's prospective hepatitis C treatments but scrapped that arrangement in February 2012. |
27449.0 | 2014-07-11 00:00:00 UTC | Sector Update: Health Care | ABBV | https://www.nasdaq.com/articles/sector-update-health-care-2014-07-11 | nan | nan | Health care stocks were narrowly mixed in late trade with the NYSE Health Care Sector Index retreating less than 0.1% and shares of health care companies in the S&P 500 adding about 0.2% as a group.
In company news, Achillion Pharmaceuticals ( ACHN ) climbed steadily throughout Friday's session amid renewed Internet chatter the biotech may be an acquisition target with Gilead Sciences ( GILD ) most frequently mentioned as the likely buyer.
The companies nearly a decade ago signed a collaboration pact giving GILD worldwide development and commercialization rights to ACHN's prospective hepatitis C treatments but scrapped that arrangement in February 2012. ACHN continues to work on its own HCV drug, sovaprevir, with the FDA last month lifting a clinical hold that began in June 2013 after some trial participants were found with elevated levels of liver enzymes.
ACHD shares recently were up about 9.3% at $7.68, easing slightly from a session high today of $7.89 a share. The stock has a 52-week range of $2.36 to $8.61, rising nearly 19% over the past 12 month, including a 165% one-day rise June 9 after Merck ( MRK ) said it was buying Idenix ( IDIX ) for nearly $4 billion.
Like ACHN and GILD, IDIX has been working on a possible HCV treatment.
In other sector news,
(+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock.
(-) TNXP, Prices private placement of 657,000 shares at $11.90 each, a 5% discount to Thursday's closing price. The $7.8 mln in proceeds, after paying offering expenses, to fund clinical testing of its drug candidates.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In other sector news, (+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock. In company news, Achillion Pharmaceuticals ( ACHN ) climbed steadily throughout Friday's session amid renewed Internet chatter the biotech may be an acquisition target with Gilead Sciences ( GILD ) most frequently mentioned as the likely buyer. The companies nearly a decade ago signed a collaboration pact giving GILD worldwide development and commercialization rights to ACHN's prospective hepatitis C treatments but scrapped that arrangement in February 2012. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In other sector news, (+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock. Health care stocks were narrowly mixed in late trade with the NYSE Health Care Sector Index retreating less than 0.1% and shares of health care companies in the S&P 500 adding about 0.2% as a group. | In other sector news, (+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock. Health care stocks were narrowly mixed in late trade with the NYSE Health Care Sector Index retreating less than 0.1% and shares of health care companies in the S&P 500 adding about 0.2% as a group. The companies nearly a decade ago signed a collaboration pact giving GILD worldwide development and commercialization rights to ACHN's prospective hepatitis C treatments but scrapped that arrangement in February 2012. | In other sector news, (+) SHPG, Reportedly begins merger talks with U.S. suitor AbbVie ( ABBV ), which earlier increased its offer for a fourth time to around $51.5 billion in cash and stock. Health care stocks were narrowly mixed in late trade with the NYSE Health Care Sector Index retreating less than 0.1% and shares of health care companies in the S&P 500 adding about 0.2% as a group. The companies nearly a decade ago signed a collaboration pact giving GILD worldwide development and commercialization rights to ACHN's prospective hepatitis C treatments but scrapped that arrangement in February 2012. |
27450.0 | 2014-07-11 00:00:00 UTC | Sector Update: Health Care Stocks Drifting Lower; Shire Jumps After Reportedly Starting AbbVie Merger Talks | ABBV | https://www.nasdaq.com/articles/sector-update-health-care-stocks-drifting-lower-shire-jumps-after-reportedly-starting | nan | nan | Top Health Care Stocks
JNJ -0.81%
PFE 0.00%
ABT -0.61%
MRK -0.63%
AMGN +0.75%
Health care stocks were moderately lower, with the NYSE Health Care Sector Index retreating about 0.3% and shares of health care companies in the S&P 500 down about 0.3% as a group.
In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties.
ABBV Chief Executive Richard Gonzalez was meeting in New York today with SHPG officials, people familiar with the discussion told Bloomberg News. The talks were in early stages and may not lead to an agreement, the people said.
ABBV earlier this week raised its cash-and-stock offer for a fourth time to $51.2 billion, with SHPG offering no official response to any of the offer. Several SHPG shareholders in recent days reportedly have been urging the company's board to begin merger talks, including one prominent shareholder telling Reuters last night that "based on the new bid, we think Shire would engage."
Other SHPG shareholders also have also written to board chairwoman Susan Kilsby to begin discussions, several people with direct knowledge of the situation tell the (UK) Guardian.
SHPG shares were up over 5% at $251.04 each, earlier topping out at a new, all-time high of $252.98 a share. Over the past 12 months, the stock has jumped almost 150% through Thursday's close.
ABBV recently was down about 1.7% at $54.86 a share, earlier falling to an intra-day low of $54.48 a share.
In other sector news,
(+) NBY, (+0.1%) Expects to report top-line results from testing of its drug candidate for viral conjunctivitis in mid-August. Also expects beginning clinical trial of new formulation of its auriclosene skin treatment with healthy volunteers by year's end.
(-) TNXP, (-4.5%) Prices private placement of 657,000 shares at $11.90 each, a 5% discount to Thursday's closing price. The $7.8 mln in proceeds, after paying offering expenses, to fund clinical testing of its drug candidates.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ABBV Chief Executive Richard Gonzalez was meeting in New York today with SHPG officials, people familiar with the discussion told Bloomberg News. In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties. ABBV earlier this week raised its cash-and-stock offer for a fourth time to $51.2 billion, with SHPG offering no official response to any of the offer. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties. ABBV Chief Executive Richard Gonzalez was meeting in New York today with SHPG officials, people familiar with the discussion told Bloomberg News. | In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties. ABBV Chief Executive Richard Gonzalez was meeting in New York today with SHPG officials, people familiar with the discussion told Bloomberg News. ABBV earlier this week raised its cash-and-stock offer for a fourth time to $51.2 billion, with SHPG offering no official response to any of the offer. | In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties. ABBV Chief Executive Richard Gonzalez was meeting in New York today with SHPG officials, people familiar with the discussion told Bloomberg News. ABBV earlier this week raised its cash-and-stock offer for a fourth time to $51.2 billion, with SHPG offering no official response to any of the offer. |
27451.0 | 2014-07-11 00:00:00 UTC | Sector Update: Health Care | ABBV | https://www.nasdaq.com/articles/sector-update-health-care-2014-07-11-1 | nan | nan | Health care stocks were moderately lower, with the NYSE Health Care Sector Index retreating about 0.3% and shares of health care companies in the S&P 500 down about 0.3% as a group.
In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties.
ABBV Chief Executive Richard Gonzalez was meeting in New York Friday with SHPG officials, people familiar with the discussion told Bloomberg News. The talks were in early stages and may not lead to an agreement, the people said.
ABBV earlier this week raised its cash-and-stock offer for a fourth time to $51.2 billion, with SHPG offering no official response to any of the offer. Several SHPG shareholders in recent days reportedly have been urging the company's board to begin merger talks, including one prominent shareholder telling Reuters last night that "based on the new bid, we think Shire would engage."
Other SHPG shareholders also have also written to board chairwoman Susan Kilsby to begin discussions, several people with direct knowledge of the situation tell the (UK) Guardian.
SHPG shares were up more than 5% at $251.04 each, earlier topping out at a new, all-time high of $252.98 a share. Over the past 12 months, the stock has jumped close to 150% through Thursday's close.
ABBV recently was down about 1.7% at $54.86 a share, earlier falling to an intra-day low of $54.48 a share.
In other sector news,
(+) NBY, (+0.1%) Expects to report top-line results from testing of its drug candidate for viral conjunctivitis in mid-August. Also expects beginning clinical trial of new formulation of its auriclosene skin treatment with healthy volunteers by year's end.
(-) TNXP, (-4.5%) Prices private placement of 657,000 shares at $11.90 each, a 5% discount to Thursday's closing price. The $7.8 mln in proceeds, after paying offering expenses, to fund clinical testing of its drug candidates.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ABBV Chief Executive Richard Gonzalez was meeting in New York Friday with SHPG officials, people familiar with the discussion told Bloomberg News. In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties. ABBV earlier this week raised its cash-and-stock offer for a fourth time to $51.2 billion, with SHPG offering no official response to any of the offer. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties. ABBV Chief Executive Richard Gonzalez was meeting in New York Friday with SHPG officials, people familiar with the discussion told Bloomberg News. | In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties. ABBV Chief Executive Richard Gonzalez was meeting in New York Friday with SHPG officials, people familiar with the discussion told Bloomberg News. ABBV earlier this week raised its cash-and-stock offer for a fourth time to $51.2 billion, with SHPG offering no official response to any of the offer. | In company news, American depository shares of Irish drug-maker Shire plc ( SHPG ) rose again Friday following reports it has begun active talks with U.S. suitor AbbVie ( ABBV ) after previously rebuffing ABBV's entreaties. ABBV recently was down about 1.7% at $54.86 a share, earlier falling to an intra-day low of $54.48 a share. ABBV Chief Executive Richard Gonzalez was meeting in New York Friday with SHPG officials, people familiar with the discussion told Bloomberg News. |
27452.0 | 2014-07-09 00:00:00 UTC | Biotech Stock Roundup: Regado Plunges on Study Update, Jazz Gains on Product Acquisition Deal - Analyst Blog | ABBV | https://www.nasdaq.com/articles/biotech-stock-roundup-regado-plunges-study-update-jazz-gains-product-acquisition-deal | nan | nan | It was business as usual for the biotech sector last week with highlights including a deal for the acquisition of product rights, encouraging study results and the granting of breakthrough therapy status for an experimental cancer treatment. However, the event that stood out was the unplanned initiation of data review by a Data Safety Monitoring Board (DSMB) for a late-stage study.
Overall, shares were down last week with the NASDAQ Biotechnology Index declining 3.6% in contrast to the previous week's performance ( Biotech Stock Roundup: Vertex Jumps on Phase III Data, MannKind Scores FDA Approval ).
Recap of the Week's Most Important Stories
1. Regado Biosciences ( RGDO ) saw its shares plunging 58% on news that a data safety monitoring board (DSMB) is conducting an unplanned review of data from the phase III REGULATE-PCI study on Revolixys Kit. While the safety and treatment/benefit risk ratio for all patients will be analyzed, focus will be on serious adverse events related to allergic reactions. Until the analysis is completed and the DSMB's recommendation is available, new patients will not be enrolled.
The news is disappointing considering Revolixys Kit is the lead candidate in the company's pipeline. The cropping up of safety issues would be a major setback for the company and would limit the potential of the candidate even if development continues (Read more: Regado Slumps on Revolixys Study Halt ).
2. Jazz Pharmaceuticals ( JAZZ ) entered into an agreement worth up to $250 million last week to boost its product portfolio. The company will acquire rights to defibrotide in the U.S. and all other countries in the Americas from Sigma-Tau. This means that Jazz will own full rights to defibrotide - the company is already marketing the candidate in the EU under the trade name Defitelio. Jazz's shares were up almost 7% on the agreement (Read more: Jazz Pharmaceuticals to Buy Rights to Defibrotide, Shares Up ).
3. Regeneron Pharmaceuticals' ( REGN ) shares were up more than 7% on news that Sanofi ( SNY ) has increased its stake in the company. (Read more: Regeneron Shares Jump as Sanofi Increases Stake ).
4. Biotech major Amgen ( AMGN ) got breakthrough therapy status from the FDA for its experimental leukemia drug, blinatumomab. Breakthrough status, a new designation that became effective after Jul 9, 2012, is designed to cut short the development time of promising new treatments. Amgen, on its first quarter call, had said that it will be entering into discussions with regulatory authorities to discuss the possibility of filing for blinatumomab's approval based on confirmatory phase II data (Read more: Amgen Gets Breakthrough Therapy Status for Leukemia Drug ).
5. Agenus Inc. ( AGEN ) saw its shares gaining on final results from a phase II study on its Prophage autologous cancer vaccine. The study was conducted in patients with newly diagnosed glioblastoma multiforme (GBM). Results were encouraging - median overall survival, the primary endpoint of the study, was 23.8 months for Prophage compared to 14.6 months for the standard of care alone. 50% of the patients on Prophage lived for two years.
GBM, the most common primary malignant brain tumor, is usually associated with a particularly poor prognosis and very low survival rates - 33.7% and 4.5% at one and five years, respectively (Read more: Agenus Up on Positive Prophage Data ).
Performance
Last week, Regeneron once again led the major biotechs. Shares were up 2.35% mainly reflecting the increase in Sanofi's stake in the company. Celgene was the biggest loser with shares declining 3.14%. Vertex remains the biggest gainer over the last six months (up 26.33%) thanks to the impact of the pivotal phase III data on the Kalydeco-lumacaftor combination.
What's Next in the Biotech World?
While nothing specific is lined up later this week, stay tuned for the usual pipeline and regulatory updates. Moreover, with AbbVie ( ABBV ) upping its offer for Shire, these two companies will remain in the news as investors mull the renewed offer.
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REGENERON PHARM (REGN): Free Stock Analysis Report
SANOFI-AVENTIS (SNY): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Moreover, with AbbVie ( ABBV ) upping its offer for Shire, these two companies will remain in the news as investors mull the renewed offer. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report SANOFI-AVENTIS (SNY): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report JAZZ PHARMACEUT (JAZZ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report AGENUS INC (AGEN): Free Stock Analysis Report REGADO BIOSCI (RGDO): Free Stock Analysis Report To read this article on Zacks.com click here. It was business as usual for the biotech sector last week with highlights including a deal for the acquisition of product rights, encouraging study results and the granting of breakthrough therapy status for an experimental cancer treatment. | Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report SANOFI-AVENTIS (SNY): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report JAZZ PHARMACEUT (JAZZ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report AGENUS INC (AGEN): Free Stock Analysis Report REGADO BIOSCI (RGDO): Free Stock Analysis Report To read this article on Zacks.com click here. Moreover, with AbbVie ( ABBV ) upping its offer for Shire, these two companies will remain in the news as investors mull the renewed offer. Regado Biosciences ( RGDO ) saw its shares plunging 58% on news that a data safety monitoring board (DSMB) is conducting an unplanned review of data from the phase III REGULATE-PCI study on Revolixys Kit. | Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report SANOFI-AVENTIS (SNY): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report JAZZ PHARMACEUT (JAZZ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report AGENUS INC (AGEN): Free Stock Analysis Report REGADO BIOSCI (RGDO): Free Stock Analysis Report To read this article on Zacks.com click here. Moreover, with AbbVie ( ABBV ) upping its offer for Shire, these two companies will remain in the news as investors mull the renewed offer. Overall, shares were down last week with the NASDAQ Biotechnology Index declining 3.6% in contrast to the previous week's performance ( Biotech Stock Roundup: Vertex Jumps on Phase III Data, MannKind Scores FDA Approval ). | Moreover, with AbbVie ( ABBV ) upping its offer for Shire, these two companies will remain in the news as investors mull the renewed offer. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report SANOFI-AVENTIS (SNY): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report JAZZ PHARMACEUT (JAZZ): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report AGENUS INC (AGEN): Free Stock Analysis Report REGADO BIOSCI (RGDO): Free Stock Analysis Report To read this article on Zacks.com click here. It was business as usual for the biotech sector last week with highlights including a deal for the acquisition of product rights, encouraging study results and the granting of breakthrough therapy status for an experimental cancer treatment. |
27453.0 | 2014-07-09 00:00:00 UTC | Insys Completes Study on Dronabinol Oral Solution - Analyst Blog | ABBV | https://www.nasdaq.com/articles/insys-completes-study-on-dronabinol-oral-solution-analyst-blog-2014-07-09 | nan | nan | Insys Therapeutics, Inc . ( INSY ) announced that it has successfully completed a human abuse study on dronabinol oral solution, a liquid formulation of the synthetic cannabinoid dronabinol.
Insys conducted the human abuse study as per the requirements of the U.S. Drug Enforcement Agency for classification purposes.
Insys completed the clinical study as required for the New Drug Application (NDA) filing during the third quarter of 2013. Earlier, Insys completed a pre-NDA meeting with the FDA and a pivotal bioequivalence study for the dronabinol oral solution in 2012.
Insys now expects to file the NDA in the third quarter of 2014.
We remind investors that Insys received FDA approval for dronabinol capsules, a generic equivalent of Marinol, an approved second-line treatment for chemotherapy induced nausea and vomiting (CINV) and anorexia associated with weight loss in AIDS patients in Aug 2011.
The oral solution is expected to lead to faster onset of action along with better dosage flexibility as compared to capsules.
Insys has an exclusive supply and distribution agreement with Mylan, Inc. ( MYL ) whereby Mylan holds the right to distribute dronabinol capsules in the U.S.
Last week, Insys announced that the FDA has granted orphan drug status to its epilepsy candidate, pharmaceutical cannabidiol, for treating Dravet syndrome, a rare form of intractable epilepsy that commences in infancy.
Insys carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the broader healthcare sector include Allergan ( AGN ) and AbbVie ( ABBV ). Both stocks carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the broader healthcare sector include Allergan ( AGN ) and AbbVie ( ABBV ). Click to get this free report INSYS THERAP (INSY): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report MYLAN INC (MYL): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Insys conducted the human abuse study as per the requirements of the U.S. Drug Enforcement Agency for classification purposes. | Click to get this free report INSYS THERAP (INSY): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report MYLAN INC (MYL): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader healthcare sector include Allergan ( AGN ) and AbbVie ( ABBV ). ( INSY ) announced that it has successfully completed a human abuse study on dronabinol oral solution, a liquid formulation of the synthetic cannabinoid dronabinol. | Click to get this free report INSYS THERAP (INSY): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report MYLAN INC (MYL): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader healthcare sector include Allergan ( AGN ) and AbbVie ( ABBV ). Insys has an exclusive supply and distribution agreement with Mylan, Inc. ( MYL ) whereby Mylan holds the right to distribute dronabinol capsules in the U.S. Last week, Insys announced that the FDA has granted orphan drug status to its epilepsy candidate, pharmaceutical cannabidiol, for treating Dravet syndrome, a rare form of intractable epilepsy that commences in infancy. | Some better-ranked stocks in the broader healthcare sector include Allergan ( AGN ) and AbbVie ( ABBV ). Click to get this free report INSYS THERAP (INSY): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report MYLAN INC (MYL): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Insys completed the clinical study as required for the New Drug Application (NDA) filing during the third quarter of 2013. |
27454.0 | 2014-07-08 00:00:00 UTC | Novartis' CTL109 Gets Breakthrough Therapy Designation from the FDA - Analyst Blog | ABBV | https://www.nasdaq.com/articles/novartis-ctl109-gets-breakthrough-therapy-designation-from-the-fda-analyst-blog-2014-07-08 | nan | nan | Novartis ( NVS ) announced that the FDA has granted Breakthrough Therapy Designation to its pipeline candidate, CTL019.
Novartis is evaluating CTL019, an experimental chimeric antigen receptor (CAR) therapy, for the treatment of pediatric and adult patients suffering from relapsed/refractory acute lymphoblastic leukemia (r/r ALL).
CTL019 uses CAR technology to reprogram a patient's own T cells to look for cancer cells which express specific proteins, called CD19. Once reprogrammed, the T cells (called CTL019 after reprogramming) are released into the patient's blood so as to proliferate and bind to the targeted CD19+ cancer cells and destroy them.
The filing was submitted by the University of Pennsylvania's Perelman School of Medicine. We note that the university has an exclusive global agreement with Novartis to research, develop and commercialize personalized CAR T cell therapies for the treatment of cancers. The university is currently conducting phase I/II trials on CTL019.
These studies are evaluating the activity and safety of CTL019 in patients with resistant or refractory CD19+ hematologic malignancies, specifically pediatric and adult acute lymphoblastic leukemia and chronic lymphocytic leukemia.
The designation from the FDA should expedite the development and review of the candidate.The designation not only includes all of the fast track program features but a more intensive FDA guidance as well.
In order to focus on advancing innovative cell-based therapies, including the development of CARs, Novartis has established the Cell and Gene Therapies Unit. Moreover, Novartis holds the worldwide rights to CARs which are being developed through the collaboration with Penn for all cancer indications.
We are impressed by Novartis' efforts to realign its portfolio in order to focus on its core business of pharmaceuticals, eye care and generics. The acquisition of oncology products from GlaxoSmithKline ( GSK ) and divestment of Vaccines business is a step in the right direction. It will broaden Novartis' portfolio and enable it to focus better on its core capabilities besides contributing immensely to the top line. Margins are also expected to get a significant boost.
Novartis, a large cap pharma, currently carries a Zacks Rank#3 (Hold). Some better-ranked large cap pharmas include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). Both the stocks carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked large cap pharmas include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked large cap pharmas include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). | Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked large cap pharmas include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). | Some better-ranked large cap pharmas include AbbVie, Inc . ( ABBV ) and Johnson & Johnson ( JNJ ). Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report GLAXOSMITHKLINE (GSK): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. |
27455.0 | 2014-07-08 00:00:00 UTC | Novo Nordisk Gets FDA Nod for NovoSeven RT - Analyst Blog | ABBV | https://www.nasdaq.com/articles/novo-nordisk-gets-fda-nod-for-novoseven-rt-analyst-blog-2014-07-08 | nan | nan | Novo Nordisk 's ( NVO ) NovoSeven RT (coagulation factor VIIa [recombinant]) received FDA approval for perioperative management and the treatment of bleeding episodes in patients suffering from Glanzmann's thrombasthenia (a rare genetic bleeding disorder) with refractoriness to platelet transfusions (with or without antibodies to platelets). NovoSeven RT is the first recombinant treatment to gain FDA approval for this indication.
According to the press release issued by Novo Nordisk, one out of a million is diagnosed with this disease globally, and suffers from a lifelong susceptibility towards bleeding episodes, which might be potentially life threatening.
NovoSeven RT is already approved for Glanzmann's thrombasthenia in the EU.
We note that NovoSeven is also approved for the treatment and prevention of bleeding in surgeries and procedures in adults and children suffering from hemophilia (A or B) with inhibitors, acquired hemophilia or congenital factor VII (FVII) deficiency. In Feb 2013, Novo Nordisk launched NovoSeven with a pre-filled syringe under the trade name 'NovoSeven RT with MixPro' in the U.S. and 'NovoSeven with pre-filled syringe' in the EU.
In 2013, NovoSeven generated total sales of DKK 9.3 million, up 3.6% y/y. We are pleased to see NovoSeven RT's approval in the U.S. for Glanzmann's thrombasthenia. This will expand the eligible customer base for the drug and strengthen its position in the market for coagulation factors.
Novo Nordisk carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the health care sector include Abbott Laboratories ( ABT ), AbbVie Inc. ( ABBV ) and Allergan Inc. ( AGN ). All these stocks carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the health care sector include Abbott Laboratories ( ABT ), AbbVie Inc. ( ABBV ) and Allergan Inc. ( AGN ). Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report NOVO-NORDISK AS (NVO): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Novo Nordisk 's ( NVO ) NovoSeven RT (coagulation factor VIIa [recombinant]) received FDA approval for perioperative management and the treatment of bleeding episodes in patients suffering from Glanzmann's thrombasthenia (a rare genetic bleeding disorder) with refractoriness to platelet transfusions (with or without antibodies to platelets). | Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report NOVO-NORDISK AS (NVO): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include Abbott Laboratories ( ABT ), AbbVie Inc. ( ABBV ) and Allergan Inc. ( AGN ). Novo Nordisk 's ( NVO ) NovoSeven RT (coagulation factor VIIa [recombinant]) received FDA approval for perioperative management and the treatment of bleeding episodes in patients suffering from Glanzmann's thrombasthenia (a rare genetic bleeding disorder) with refractoriness to platelet transfusions (with or without antibodies to platelets). | Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report NOVO-NORDISK AS (NVO): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include Abbott Laboratories ( ABT ), AbbVie Inc. ( ABBV ) and Allergan Inc. ( AGN ). Novo Nordisk 's ( NVO ) NovoSeven RT (coagulation factor VIIa [recombinant]) received FDA approval for perioperative management and the treatment of bleeding episodes in patients suffering from Glanzmann's thrombasthenia (a rare genetic bleeding disorder) with refractoriness to platelet transfusions (with or without antibodies to platelets). | Some better-ranked stocks in the health care sector include Abbott Laboratories ( ABT ), AbbVie Inc. ( ABBV ) and Allergan Inc. ( AGN ). Click to get this free report ALLERGAN INC (AGN): Free Stock Analysis Report NOVO-NORDISK AS (NVO): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Novo Nordisk 's ( NVO ) NovoSeven RT (coagulation factor VIIa [recombinant]) received FDA approval for perioperative management and the treatment of bleeding episodes in patients suffering from Glanzmann's thrombasthenia (a rare genetic bleeding disorder) with refractoriness to platelet transfusions (with or without antibodies to platelets). |
27456.0 | 2014-06-30 00:00:00 UTC | Gilead Seeks Japanese Approval for Sovaldi - Analyst Blog | ABBV | https://www.nasdaq.com/articles/gilead-seeks-japanese-approval-for-sovaldi-analyst-blog-2014-06-30 | nan | nan | Gilead Sciences ( GILD ) is looking to boost the sales potential of its highly successful drug Sovaldi (sofosbuvir) further by getting it approved in Japan. To that end, the biopharmaceutical company filed a New Drug Application (NDA) with Japan's Pharmaceutical and Medical Devices Agency (PMDA) for Sovaldi for treating patients with chronic genotype 2 hepatitis C virus (HCV) infection. Approval has been sought for a 12-week dose of Sovaldi in combination with ribavirin.
Approval of the all-oral, interferon free regimen has been sought primarily on the basis of positive results from a phase III study (GS-US-334-0118). The NDA also includes data from four international phase III studies (FISSION, FUSION, POSITRON and VALENCE).
Japanese HCV Market Offers Huge Commercial Potential
Approval of the regimen in Japan would be a huge positive since the country is believed to have one of the highest rates of liver cancer in any industrialized nation - the blame primarily lying on HCV - as stated by Gilead in its press release.
The market for chronic HCV is huge with more than a million people suffering from the disease. Gilead stated further that 20% to 30% of the patients chronically infected with HCV in Japan have the genotype 2 strain of the virus. Currently available treatments for the virus in Japan involve 24-48 weeks of injections with pegylated interferon. However, this mode of treatment is associated with serious side effects. Sovaldi will be the first Gilead product to be launched in Japan, in the event of the PMDA issuing a favorable decision.
Sovaldi is already available in the U.S., the EU and Canada. The drug performed exceptionally well in the first quarter of 2014. The HCV treatment recorded sales of $2.27 billion in its first full quarter in the market. Sovaldi sales are expected to be strong throughout 2014.
Gilead Looking to Get Another HCV Therapy Approved
Buoyed by the stupendous success of Sovaldi, Gilead is looking to bring its next HCV treatment, a fixed dose combination of ledipasvir and Sovaldi, into the market. The cocktail therapy is under review in the U.S. for treating chronic genotype 1 HCV patients. The FDA will decide on the approval status of the combination treatment by Oct 10, 2014. Japanese approval for the combination would be sought for treating genotype 1 HCV patients by Dec 31, 2014 on the basis of positive data from a phase III study (GS-US-337-0113). We note that the most common HCV strain in Japan is genotype 1.
AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring all-oral HCV combination therapies to the market.
Gilead carries a Zacks Rank #3 (Hold). A better-ranked stock in the biopharma space is Regeneron Pharmaceuticals ( REGN ), sporting a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring all-oral HCV combination therapies to the market. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Gilead Sciences ( GILD ) is looking to boost the sales potential of its highly successful drug Sovaldi (sofosbuvir) further by getting it approved in Japan. | Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring all-oral HCV combination therapies to the market. To that end, the biopharmaceutical company filed a New Drug Application (NDA) with Japan's Pharmaceutical and Medical Devices Agency (PMDA) for Sovaldi for treating patients with chronic genotype 2 hepatitis C virus (HCV) infection. | Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring all-oral HCV combination therapies to the market. Japanese HCV Market Offers Huge Commercial Potential Approval of the regimen in Japan would be a huge positive since the country is believed to have one of the highest rates of liver cancer in any industrialized nation - the blame primarily lying on HCV - as stated by Gilead in its press release. | AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring all-oral HCV combination therapies to the market. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Gilead stated further that 20% to 30% of the patients chronically infected with HCV in Japan have the genotype 2 strain of the virus. |
27457.0 | 2014-06-30 00:00:00 UTC | AbbVie's Oncology Candidate Progresses - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvies-oncology-candidate-progresses-analyst-blog-2014-06-30 | nan | nan | Investors in the pharma/biotech sector eagerly wait for pipeline updates as they play an important role in deciding whether or not to invest in a particular company. Pipelines are of prime importance as far as pharma/biotech companies are concerned. These companies spend a significant amount in advancing their pipelines.
Last week, AbbVie Inc. ( ABBV ) announced that it has initiated a phase III study on its oncology candidate, veliparib in patients suffering from human epidermal growth factor receptor 2 (HER2) negative metastatic or locally advanced breast cancer, containing BRCA1 (breast cancer gene 1) and/or BRCA2 (breast cancer gene 2) mutations.
The randomized, double-blind phase III study will compare the safety and efficacy of veliparib in combination carboplatin and paclitaxel, two widely used chemotherapies with carboplatin, paclitaxel plus placebo combination. The study will enroll approximately 270 breast cancer patients.
The primary efficacy endpoint of the study is progression-free survival while the secondary endpoints include overall survival, clinical benefit rate, objective response rate and duration of response.
Apart from breast cancer, Veliparib is also being evaluated for several other oncology indications including non-small cell lung cancer (phase III).
AbbVie-Shire Takeover Status
AbbVie is currently looking to buy UK-based Shire ( SHPG ). A few days back, Shire rejected the third acquisition proposal from AbbVie. AbbVie's proposal comprised £20.44 in cash and 0.7988 AbbVie share per Shire share held, representing a value of £46.11 per share of Shire. Additionally, the proposal included the formation of a new listed holding company in the U.S. post acquisition with a UK tax domicile. We expect investor focus to remain on further updates on the acquisition proposal.
Both AbbVie and Shire currently carry a Zacks Rank #3 (Hold). Better-ranked stocks in the health care sector include Allergan ( AGN ) and Regeneron Pharmaceuticals, Inc. ( REGN ), each holding a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Last week, AbbVie Inc. ( ABBV ) announced that it has initiated a phase III study on its oncology candidate, veliparib in patients suffering from human epidermal growth factor receptor 2 (HER2) negative metastatic or locally advanced breast cancer, containing BRCA1 (breast cancer gene 1) and/or BRCA2 (breast cancer gene 2) mutations. AbbVie-Shire Takeover Status AbbVie is currently looking to buy UK-based Shire ( SHPG ). A few days back, Shire rejected the third acquisition proposal from AbbVie. | Last week, AbbVie Inc. ( ABBV ) announced that it has initiated a phase III study on its oncology candidate, veliparib in patients suffering from human epidermal growth factor receptor 2 (HER2) negative metastatic or locally advanced breast cancer, containing BRCA1 (breast cancer gene 1) and/or BRCA2 (breast cancer gene 2) mutations. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie-Shire Takeover Status AbbVie is currently looking to buy UK-based Shire ( SHPG ). | Last week, AbbVie Inc. ( ABBV ) announced that it has initiated a phase III study on its oncology candidate, veliparib in patients suffering from human epidermal growth factor receptor 2 (HER2) negative metastatic or locally advanced breast cancer, containing BRCA1 (breast cancer gene 1) and/or BRCA2 (breast cancer gene 2) mutations. AbbVie's proposal comprised £20.44 in cash and 0.7988 AbbVie share per Shire share held, representing a value of £46.11 per share of Shire. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. | A few days back, Shire rejected the third acquisition proposal from AbbVie. Both AbbVie and Shire currently carry a Zacks Rank #3 (Hold). Last week, AbbVie Inc. ( ABBV ) announced that it has initiated a phase III study on its oncology candidate, veliparib in patients suffering from human epidermal growth factor receptor 2 (HER2) negative metastatic or locally advanced breast cancer, containing BRCA1 (breast cancer gene 1) and/or BRCA2 (breast cancer gene 2) mutations. |
27458.0 | 2014-06-27 00:00:00 UTC | Notable ETF Outflow Detected - DLN, LLY, QCOM, ABBV | ABBV | https://www.nasdaq.com/articles/notable-etf-outflow-detected-dln-lly-qcom-abbv-2014-06-27 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the WisdomTree LargeCap Dividend Fund (Symbol: DLN) where we have detected an approximate $46.0 million dollar outflow -- that's a 2.4% decrease week over week (from 26,700,000 to 26,050,000). Among the largest underlying components of DLN, in trading today Eli Lilly & Co. (Symbol: LLY) is off about 0.2%, Qualcomm, Inc. (Symbol: QCOM) is down about 0.4%, and AbbVie Inc. (Symbol: ABBV) is higher by about 0.2%. The chart below shows the one year price performance of DLN, versus its 200 day moving average:
Looking at the chart above, DLN's low point in its 52 week range is $59.48 per share, with $71.32 as the 52 week high point - that compares with a last trade of $70.65. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average » .
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of DLN, in trading today Eli Lilly & Co. (Symbol: LLY) is off about 0.2%, Qualcomm, Inc. (Symbol: QCOM) is down about 0.4%, and AbbVie Inc. (Symbol: ABBV) is higher by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the WisdomTree LargeCap Dividend Fund (Symbol: DLN) where we have detected an approximate $46.0 million dollar outflow -- that's a 2.4% decrease week over week (from 26,700,000 to 26,050,000). The chart below shows the one year price performance of DLN, versus its 200 day moving average: Looking at the chart above, DLN's low point in its 52 week range is $59.48 per share, with $71.32 as the 52 week high point - that compares with a last trade of $70.65. | Among the largest underlying components of DLN, in trading today Eli Lilly & Co. (Symbol: LLY) is off about 0.2%, Qualcomm, Inc. (Symbol: QCOM) is down about 0.4%, and AbbVie Inc. (Symbol: ABBV) is higher by about 0.2%. The chart below shows the one year price performance of DLN, versus its 200 day moving average: Looking at the chart above, DLN's low point in its 52 week range is $59.48 per share, with $71.32 as the 52 week high point - that compares with a last trade of $70.65. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of DLN, in trading today Eli Lilly & Co. (Symbol: LLY) is off about 0.2%, Qualcomm, Inc. (Symbol: QCOM) is down about 0.4%, and AbbVie Inc. (Symbol: ABBV) is higher by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the WisdomTree LargeCap Dividend Fund (Symbol: DLN) where we have detected an approximate $46.0 million dollar outflow -- that's a 2.4% decrease week over week (from 26,700,000 to 26,050,000). The chart below shows the one year price performance of DLN, versus its 200 day moving average: Looking at the chart above, DLN's low point in its 52 week range is $59.48 per share, with $71.32 as the 52 week high point - that compares with a last trade of $70.65. | Among the largest underlying components of DLN, in trading today Eli Lilly & Co. (Symbol: LLY) is off about 0.2%, Qualcomm, Inc. (Symbol: QCOM) is down about 0.4%, and AbbVie Inc. (Symbol: ABBV) is higher by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the WisdomTree LargeCap Dividend Fund (Symbol: DLN) where we have detected an approximate $46.0 million dollar outflow -- that's a 2.4% decrease week over week (from 26,700,000 to 26,050,000). Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. |
27459.0 | 2014-06-26 00:00:00 UTC | AbbVie Now #45 Largest Company, Surpassing CVS | ABBV | https://www.nasdaq.com/articles/abbvie-now-45-largest-company-surpassing-cvs-2014-06-26 | nan | nan | In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, AbbVie Inc. (Symbol: ABBV) has taken over the #45 spot from CVS Caremark Corporation (Symbol: CVS), according to The Online Investor .
Market capitalization is an important data point for investors to keep an eye on, for various reasons. The most basic reason is that it gives a true comparison of the value attributed by the stock market to a given company's stock. Many beginning investors look at one stock trading at $10 and another trading at $20 and mistakenly think the latter company is worth twice as much - that of course is a completely meaningless comparison without knowing how many shares of each company exist. But comparing market capitalization (factoring in those share counts) creates a true "apples-to-apples" comparison of the value of two stocks. In the case of AbbVie Inc. (Symbol: ABBV), the market cap is now $89.85 billion, versus CVS Caremark Corporation (Symbol: CVS) at $88.32 billion.
Below is a chart of AbbVie Inc. versus CVS Caremark Corporation plotting their respective size rank within the S&P 500 over time (ABBV plotted in blue; CVS plotted in green):
Below is a three month price history chart comparing the stock performance of ABBV vs. CVS:
Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers - much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). This can have a direct impact on which mutual funds and ETFs are willing to own the stock. For instance, a mutual fund that is focused solely on Large Cap stocks may for example only be interested in those companies sized $10 billion or larger. Another illustrative example is the S&P MidCap index which essentially takes the S&P 500 index and "tosses out" the biggest 100 companies so as to focus solely on the 400 smaller "up-and-comers" (which in the right environment can outperform their larger rivals). So a company's market cap, especially in relation to other companies, carries great importance, and for this reason we at The Online Investor find value to putting together these rankings daily.
According to the ETF Finder at ETF Channel, ABBV and CVS collectively make up 1.19% of the Vanguard Mega Cap ETF ( MGC ) which is lower by about 0.2% on the day Thursday.
At the closing bell, ABBV is up about 2.8%, while CVS is up about 0.1% on the day Thursday.
The 20 Largest U.S. Companies By Market Capitalization »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is a chart of AbbVie Inc. versus CVS Caremark Corporation plotting their respective size rank within the S&P 500 over time (ABBV plotted in blue; CVS plotted in green): Below is a three month price history chart comparing the stock performance of ABBV vs. CVS: Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers - much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, AbbVie Inc. (Symbol: ABBV) has taken over the #45 spot from CVS Caremark Corporation (Symbol: CVS), according to The Online Investor . In the case of AbbVie Inc. (Symbol: ABBV), the market cap is now $89.85 billion, versus CVS Caremark Corporation (Symbol: CVS) at $88.32 billion. | In the case of AbbVie Inc. (Symbol: ABBV), the market cap is now $89.85 billion, versus CVS Caremark Corporation (Symbol: CVS) at $88.32 billion. Below is a chart of AbbVie Inc. versus CVS Caremark Corporation plotting their respective size rank within the S&P 500 over time (ABBV plotted in blue; CVS plotted in green): Below is a three month price history chart comparing the stock performance of ABBV vs. CVS: Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers - much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, AbbVie Inc. (Symbol: ABBV) has taken over the #45 spot from CVS Caremark Corporation (Symbol: CVS), according to The Online Investor . | In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, AbbVie Inc. (Symbol: ABBV) has taken over the #45 spot from CVS Caremark Corporation (Symbol: CVS), according to The Online Investor . In the case of AbbVie Inc. (Symbol: ABBV), the market cap is now $89.85 billion, versus CVS Caremark Corporation (Symbol: CVS) at $88.32 billion. Below is a chart of AbbVie Inc. versus CVS Caremark Corporation plotting their respective size rank within the S&P 500 over time (ABBV plotted in blue; CVS plotted in green): Below is a three month price history chart comparing the stock performance of ABBV vs. CVS: Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers - much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). | In the case of AbbVie Inc. (Symbol: ABBV), the market cap is now $89.85 billion, versus CVS Caremark Corporation (Symbol: CVS) at $88.32 billion. Below is a chart of AbbVie Inc. versus CVS Caremark Corporation plotting their respective size rank within the S&P 500 over time (ABBV plotted in blue; CVS plotted in green): Below is a three month price history chart comparing the stock performance of ABBV vs. CVS: Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers - much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, AbbVie Inc. (Symbol: ABBV) has taken over the #45 spot from CVS Caremark Corporation (Symbol: CVS), according to The Online Investor . |
27460.0 | 2014-06-26 00:00:00 UTC | Shire Snubs AbbVie Offer Again, Favorable Ruling for Vyvanse - Analyst Blog | ABBV | https://www.nasdaq.com/articles/shire-snubs-abbvie-offer-again-favorable-ruling-for-vyvanse-analyst-blog-2014-06-26 | nan | nan | Shire ( SHPG ) recently announced that it continues to maintain its stance against AbbVie ( ABBV )'s acquisition offer.
AbbVie proposed to acquire Shire for £20.44 in cash and 0.7988 AbbVie shares per Shire share, reiterating its earlier offer.
This proposal was initially made on May 30, 2014. However, Shire reiterated that its board has already considered the proposal in detail and unanimously rejected it as it believes that the proposal fundamentally undervalues Shire and its prospects.
The acquisition proposal also included a new listed holding company in the U.S. post acquisition with a UK tax domicile. We remind investors that this was the third offer by AbbVie rejected by Shire.
Shire also had reservations about the proposed inversion structure, as AbbVie would redomicile in the UK for tax purposes. Shire once again urged its shareholders to not take any action in relation to the proposal.
Vyvanse Receives a Boost
Meanwhile, Shire received positive news in a patent infringement lawsuit case from the U.S. District Court for the District of New Jersey. The court ascertained that Shire's claims of the patents protecting attention deficit and hyperactivity disorder (ADHD) drug Vyvanse were both infringed and valid.
As a result, five pharmaceutical manufacturers who have filed Abbreviated New Drug Applications (ANDAs) for Vyvanse cannot launch generics versions of the drug until one of the following - either a successful appeal to the U.S. Court of Appeals for the Federal Circuit or the expiration of these patents in 2023 takes place, whichever is earlier. Moreover, the ANDA-defendants should also be able to overturn the court's rulings for each of the 18 patent claims.
Our Take
The news is a major boost for Shire as Vyvanse is its growth engine. Shire recently agreed to conduct pediatric clinical studies following FDA's request to investigate the potential use of Vyvanse for the treatment of ADHD in children aged between 4 and 5 years. Shire is currently evaluating Vyvanse for additional indications such as binge eating disorder and expects to submit a Supplemental New Drug Application (sNDA) to the FDA by the third quarter of 2014.
We expect investor focus on further updates from the acquisition proposal.
Shire currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader healthcare sector include Allergan ( AGN ) and Regeneron Pharmaceuticals, Inc ( REGN ). Both carry a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shire ( SHPG ) recently announced that it continues to maintain its stance against AbbVie ( ABBV )'s acquisition offer. AbbVie proposed to acquire Shire for £20.44 in cash and 0.7988 AbbVie shares per Shire share, reiterating its earlier offer. We remind investors that this was the third offer by AbbVie rejected by Shire. | AbbVie proposed to acquire Shire for £20.44 in cash and 0.7988 AbbVie shares per Shire share, reiterating its earlier offer. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Shire ( SHPG ) recently announced that it continues to maintain its stance against AbbVie ( ABBV )'s acquisition offer. | AbbVie proposed to acquire Shire for £20.44 in cash and 0.7988 AbbVie shares per Shire share, reiterating its earlier offer. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Shire ( SHPG ) recently announced that it continues to maintain its stance against AbbVie ( ABBV )'s acquisition offer. | Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Shire ( SHPG ) recently announced that it continues to maintain its stance against AbbVie ( ABBV )'s acquisition offer. AbbVie proposed to acquire Shire for £20.44 in cash and 0.7988 AbbVie shares per Shire share, reiterating its earlier offer. |
27461.0 | 2014-06-24 00:00:00 UTC | AbbVie Raises Outlook amidst Shire Takeover Attempts - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvie-raises-outlook-amidst-shire-takeover-attempts-analyst-blog-2014-06-24 | nan | nan | AbbVie Inc. ( ABBV ), which is currently looking to buy UK-based Shire ( SHPG ), raised its 2014 adjusted earnings guidance. AbbVie now expects full-year diluted adjusted earnings in the range of $3.06 to $3.16 per share, up from its previous guidance of $3.00 to $3.10 per share. The Zacks Consensus Estimate currently stands at $3.13 per share.
The company raised its 2014 guidance on the strength of its underlying business performance so far this year. The company expects the positive trends to continue for the rest of the year including the second quarter.
However, AbbVie's earnings guidance excludes 37 cents per share of intangible asset amortization expense and other specified items primarily related to certain separation related costs and ongoing restructuring activities. Additionally, the guidance also excludes any potential revenue from the launch of its hepatitis C (HCV) combination therapy expected this year. The FDA has granted priority review status to AbbVie's all-oral, interferon-free therapy comprising a fixed-dose combination of ABT-450 co-formulated with ABT-267 (once daily) and ABT-333 with or without ribavirin (RBV), administered twice daily for the treatment of adults with chronic genotype 1 (GT1) HCV infection.
On the day AbbVie released its updated earnings outlook, Shire provided new, long-term, financial targets highlighting the potential for significant shareholder value creation. Shire is targeting to more than double its 2013 annual product sales to $10 billion by 2020.
AbbVie-Shire Takeover Status
A few days back, Shire rejected the third acquisition proposal from AbbVie. AbbVie's proposal comprised £20.44 in cash and 0.7988 AbbVie shares per Shire share held, representing a value of £46.11 per share of Shire. Additionally, the proposal included the formation of a new listed holding company in the U.S. post acquisition with a UK tax domicile.
AbbVie and Shire currently carry a Zacks Rank #3 (Hold). Better-ranked stocks in the health care sector include Allergan ( AGN ) and Regeneron Pharmaceuticals, Inc. ( REGN ). Both Allergan and Regeneron hold a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On the day AbbVie released its updated earnings outlook, Shire provided new, long-term, financial targets highlighting the potential for significant shareholder value creation. AbbVie Inc. ( ABBV ), which is currently looking to buy UK-based Shire ( SHPG ), raised its 2014 adjusted earnings guidance. AbbVie now expects full-year diluted adjusted earnings in the range of $3.06 to $3.16 per share, up from its previous guidance of $3.00 to $3.10 per share. | AbbVie Inc. ( ABBV ), which is currently looking to buy UK-based Shire ( SHPG ), raised its 2014 adjusted earnings guidance. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie now expects full-year diluted adjusted earnings in the range of $3.06 to $3.16 per share, up from its previous guidance of $3.00 to $3.10 per share. | AbbVie now expects full-year diluted adjusted earnings in the range of $3.06 to $3.16 per share, up from its previous guidance of $3.00 to $3.10 per share. AbbVie's proposal comprised £20.44 in cash and 0.7988 AbbVie shares per Shire share held, representing a value of £46.11 per share of Shire. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. | AbbVie now expects full-year diluted adjusted earnings in the range of $3.06 to $3.16 per share, up from its previous guidance of $3.00 to $3.10 per share. AbbVie's proposal comprised £20.44 in cash and 0.7988 AbbVie shares per Shire share held, representing a value of £46.11 per share of Shire. AbbVie Inc. ( ABBV ), which is currently looking to buy UK-based Shire ( SHPG ), raised its 2014 adjusted earnings guidance. |
27462.0 | 2014-06-24 00:00:00 UTC | Abbott Labs to Buy Russia-Based Veropharm - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbott-labs-to-buy-russia-based-veropharm-analyst-blog-2014-06-24 | nan | nan | Abbott Laboratories ( ABT ) announced a definitive agreement to acquire Russia-based pharmaceutical manufacturer Veropharm for approximately $395 million - $495 million (13.6 billion rubles - 17 billion rubles).
As per the terms of the agreement, Abbott Labs will acquire Limited Liability Company Garden Hills, the holding company that currently owns a controlling interest in Veropharm.
The purchase price is dependent on Garden Hills' stake in Veropharm at the time of the closure of the deal.
We note that Garden Hills currently has more than 80% stake in Veropharm but is expected to own more than 95% by the time the transaction is closed. In addition, Abbott Labs will also assume net debt of approximately $136 million.
The acquisition of Veropharm will provide Abbott Labs a portfolio of medicines, which will complement its current pharmaceutical therapeutic focus areas of women's health, central nervous system, cardiovascular and gastroenterology.
Additionally, Abbott Labs will establish a manufacturing presence in Russia upon the closure of the transaction through its ownership of Veropharm's existing production facilities. It will also acquire ownership of a new state-of-the-art manufacturing facility that is currently being developed by Veropharm. Abbott Labs also intends to leverage its manufacturing expertise to expand Veropharm's capabilities and boost the existing infrastructure.
The acquisition is expected to add approximately $150 million to the top line in 2015. The transaction is expected to close in the fourth quarter and will not impact Abbott Labs' results in 2014.
Our Take
Abbott Labs currently carries a Zacks Rank #3 (Hold). Emerging markets are key focus areas for Abbott Labs. The acquisition of Veropharm will broaden Abbott Labs presence in Russian markets.
We remind investors that Abbott Labs became a diversified medical products company, focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . ( ABBV ), in Jan 2013.
The business environment was challenging in 2013 due to austerity measures undertaken by developed markets. Hence, Abbott Labs' efforts to broaden its presence in the emerging markets will help the company to combat the challenging business environment elsewhere in the world and maintain top-line growth.
Some better-ranked stocks in the broader healthcare sector include Allergan ( AGN ) and Bayer ( BAYRY ). While Allergan carries a Zacks Rank #1 (Strong Buy), Bayer is a Zacks Rank #2 (Buy) stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | We remind investors that Abbott Labs became a diversified medical products company, focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . ( ABBV ), in Jan 2013. Click to get this free report BAYER A G -ADR (BAYRY): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report BAYER A G -ADR (BAYRY): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. We remind investors that Abbott Labs became a diversified medical products company, focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . ( ABBV ), in Jan 2013. | We remind investors that Abbott Labs became a diversified medical products company, focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . Click to get this free report BAYER A G -ADR (BAYRY): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. ( ABBV ), in Jan 2013. | We remind investors that Abbott Labs became a diversified medical products company, focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . ( ABBV ), in Jan 2013. Click to get this free report BAYER A G -ADR (BAYRY): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. |
27463.0 | 2014-06-23 00:00:00 UTC | Stock Market News for June 23, 2014 - Market News | ABBV | https://www.nasdaq.com/articles/stock-market-news-for-june-23-2014-market-news-2014-06-23 | nan | nan | Benchmarks closed Friday's trading session with modest gains as optimism from Wednesday's policy statement spilled over into a second successive day. Friday's modest gains helped the S&P 500 to close at a record high for the third straight day. The Dow also extended its winning streak to six sessions; it's longest since December 2013. The blue-chip index also settled at a record high. The Nasdaq closed at a level last seen in April 2000. On Friday, volume was also higher than usual on a "quadruple witching" day. Benchmarks also ended the week with gains with S&P 500 recording its biggest weekly percentage gain since April 17.
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The Dow Jones Industrial Average (DJI) added almost 0.2% to close at 16,947.08. The Standard & Poor 500 (S&P 500) gained 0.2% to finish at 16,962.87. The tech-laden Nasdaq Composite Index also gained 0.2% and closed Friday's session at 4,368.04. The fear-gauge CBOE Volatility Index (VIX) went up 2.2% to settle at 10.85. Total volume for the day was roughly 7.2 billion shares, lower than this month's average of 5.5 billion. Advancers beat the declining stocks on the NYSE. For 56% stocks that advanced, 41% declined.
Optimism over the Federal Reserve's commitment to keep interest rate low coupled with Federal Reserve Chairwoman Janet Yellen's dovish comments on Wednesday helped benchmarks end higher on Friday. On Wednesday, the Federal Open Market Committee (FOMC) had decided in its two-day policy meeting to remain committed to low-interest rates. The FOMC released a statement that said benchmark interest rates were left unchanged at 0.00-0.25%. Further, the Fed reduced its monthly asset repurchase plan. The central bank trimmed its bond buyback plan for the fifth consecutive month, by $10 billion. The asset repurchase plan currently stands at $35 billion a month.
Federal Reserve Chairwoman Janet Yellen's dovish comments after the release of the FOMC statement was also welcomed by investors. According to Yellen, the central bank will consider a "wide range of indicators" on the labor market for decisions on hikes in key interest rates. She was also optimistic about the present economic situation. She said: "Economic activity is rebounding in the current quarter and will continue to expand at a moderate pace thereafter".
On Friday, total volume on all stock exchanges was the largest since April 15 on a "quadruple witching" day. A quadruple witching refers to the third Friday of every March, June, September and December. On these days, market index futures, market index options, stock options and stock futures expire, usually resulting in increased volatility
Meanwhile, the health-care sector was somewhat boosted after Shire plc (NASDAQ: SHPG ) rejected a $46.5 billion takeover bid from Illinois-based AbbVie Inc. (NYSE: ABBV ). This was AbbVie's third takeover bid. Shares of Shire plc surged 16.3%, whereas shares of AbbVie dropped 1.6%. Other health-care stocks such as Johnson & Johnson (NYSE: JNJ ), Pfizer Inc. (NYSE: PFE ), Merck & Co. Inc. (NYSE: MRK ), Gilead Sciences Inc. (NASDAQ: GILD ) and Amgen Inc. (NASDAQ: AMGN ) increased 1.4%, 0.6%, 1.1%, 1.8% and 2.7%, respectively. Overall, the Health Care Select Sector SPDR (XLV) gained 0.9%.
Separately, CarMax Inc. (NYSE: KMX ) gained the most among the S&P 500 components. Shares of CarMax soared 16.5% after the company reported upbeat quarterly results. The company reported first quarter 2014 earnings per share of 76 cents, beating the Zacks Consensus Estimate of 66 cents per share. The used-car retailer's net sales and operating revenues in the quarter also increased 13.3% to $3.75 billion.
Friday's gains helped the S&P 500 record its biggest weekly percentage gain since April 17. The S&P 500 advanced 1.4%. The Dow and the Nasdaq too gained 1.0% and 1.3%, respectively, for the week.
Benchmarks ended in positive territory for the week as optimism from Wednesday's policy statement continued. Gains in financial and small-cap stocks also ensured a positive finish for the benchmarks. Further, new deals between Medtronic, Inc. (NYSE: MDT ) and Covidien plc (NYSE: COV ), Williams Companies, Inc. (NYSE: WMB ) and Access Midstream Partners, L.P. (NYSE: ACMP ), Level 3 Communications, Inc.'s (NYSE: LVLT ) and TW Telecom Inc. (NASDAQ: TWTC ), and SanDisk Corp. (NASDAQ: SNDK ) and Fusion-io, Inc. (NYSE: FIO ) boosted investor sentiment. Encouraging data on manufacturing activity in the New York region, industrial production and U.S. homebuilders' confidence also added to the bullish sentiment.
However, the gains were kept in check, owing to concerns over sectarian clashes in Iraq and its effect on crude oil prices . The Shiite group reportedly ignored Western calls for a discussion with the Sunnis to curb the uprising in the northern part of the country. On Monday, militants in Iraq published images of hundreds of executed Shiite Iraqi soldiers. The militants claimed to have executed the soldiers. The Wall Street Journal had reported that militant rebels and government forces continued their fight and killed 28 ISIS fighters. Iraq accounts for 3.3 million barrels of crude every day.
Coming back to Friday, 5 out of 10 sectors of the S&P 500 ended in the green. The energy sector notched significant gains on Friday and emerged as the best gainer among the S&P industry groups. The Energy Select Sector SPDR ETF (XLE) gained 1.0%. Key energy stocks such as Exxon Mobil Corporation (NYSE: XOM ), Chevron Corporation (NYSE: CVX ), Schlumberger Limited (NYSE: SLB ), Halliburton Company (NYSE: HAL ), Transocean Ltd. (NYSE: RIG ) and ConocoPhillips (NYSE: COP ) increased 1.2%, 0.3%, 1.1%, 1.8%, 1.5% and 0.7%, respectively.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On these days, market index futures, market index options, stock options and stock futures expire, usually resulting in increased volatility Meanwhile, the health-care sector was somewhat boosted after Shire plc (NASDAQ: SHPG ) rejected a $46.5 billion takeover bid from Illinois-based AbbVie Inc. (NYSE: ABBV ). This was AbbVie's third takeover bid. Shares of Shire plc surged 16.3%, whereas shares of AbbVie dropped 1.6%. | On these days, market index futures, market index options, stock options and stock futures expire, usually resulting in increased volatility Meanwhile, the health-care sector was somewhat boosted after Shire plc (NASDAQ: SHPG ) rejected a $46.5 billion takeover bid from Illinois-based AbbVie Inc. (NYSE: ABBV ). Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report WILLIAMS COS (WMB): Free Stock Analysis Report ACCESS MIDSTRM (ACMP): Free Stock Analysis Report LEVEL 3 COMM (LVLT): Free Stock Analysis Report TW TELECOM INC (TWTC): Free Stock Analysis Report To read this article on Zacks.com click here. This was AbbVie's third takeover bid. | On these days, market index futures, market index options, stock options and stock futures expire, usually resulting in increased volatility Meanwhile, the health-care sector was somewhat boosted after Shire plc (NASDAQ: SHPG ) rejected a $46.5 billion takeover bid from Illinois-based AbbVie Inc. (NYSE: ABBV ). Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report MEDTRONIC (MDT): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report WILLIAMS COS (WMB): Free Stock Analysis Report ACCESS MIDSTRM (ACMP): Free Stock Analysis Report LEVEL 3 COMM (LVLT): Free Stock Analysis Report TW TELECOM INC (TWTC): Free Stock Analysis Report To read this article on Zacks.com click here. This was AbbVie's third takeover bid. | On these days, market index futures, market index options, stock options and stock futures expire, usually resulting in increased volatility Meanwhile, the health-care sector was somewhat boosted after Shire plc (NASDAQ: SHPG ) rejected a $46.5 billion takeover bid from Illinois-based AbbVie Inc. (NYSE: ABBV ). This was AbbVie's third takeover bid. Shares of Shire plc surged 16.3%, whereas shares of AbbVie dropped 1.6%. |
27464.0 | 2014-06-23 00:00:00 UTC | Sector Update: Healthcare | ABBV | https://www.nasdaq.com/articles/sector-update-healthcare-2014-06-23 | nan | nan | Healthcare shares were mixed in pre-market trade on Monday.
In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter."
ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. The 52-week low is at $41.07.
And, Enzo Biochem ( ENZ ) and unit Enzo Life Sciences have reached a settlement agreement with PerkinElmer and PerkinElmer Health Sciences ( PKI ) under which PerkinElmer will pay $7 million in escrow in settlement.
The settlement is related to a case currently before the U.S. District Court, Southern District of New York. Enzo Biochem didn't provide further details.
Finally, Clovis Oncology ( CLVS ) has begun the TIGER2 study with the dosing of the first patient at a U.S. study site. CO-1686 is the company's oral, targeted covalent (irreversible) inhibitor of mutant forms of the epidermal growth factor receptor to treat non-small cell lung cancer in patients with initial activating EGFR mutations as well as the dominant resistance mutation T790M.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter." ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. Healthcare shares were mixed in pre-market trade on Monday. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter." ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. | In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter." ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. And, Enzo Biochem ( ENZ ) and unit Enzo Life Sciences have reached a settlement agreement with PerkinElmer and PerkinElmer Health Sciences ( PKI ) under which PerkinElmer will pay $7 million in escrow in settlement. | In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter." ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. Healthcare shares were mixed in pre-market trade on Monday. |
27465.0 | 2014-06-23 00:00:00 UTC | Sector Update: Healthcare Shares Mixed Pre-Market; AbbVie Lifts on Fiscal 2014 Guidance | ABBV | https://www.nasdaq.com/articles/sector-update-healthcare-shares-mixed-pre-market-abbvie-lifts-fiscal-2014-guidance-2014-06 | nan | nan | Top Healthcare stocks:
JNJ: flat
PFE: +0.13%
ABT: flat
MRK: -0.03%
AMGN: -0.05%
Healthcare shares were mixed in pre-market trade on Monday.
In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter."
ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. The 52-week low is at $41.07.
And, Enzo Biochem ( ENZ ) and unit Enzo Life Sciences have reached a settlement agreement with PerkinElmer and PerkinElmer Health Sciences ( PKI ) under which PerkinElmer will pay $7 million in escrow in settlement.
The settlement is related to a case currently before the U.S. District Court, Southern District of New York. Enzo Biochem didn't provide further details.
Finally, Clovis Oncology ( CLVS ) has begun the TIGER2 study with the dosing of the first patient at a U.S. study site. CO-1686 is the company's oral, targeted covalent (irreversible) inhibitor of mutant forms of the epidermal growth factor receptor to treat non-small cell lung cancer in patients with initial activating EGFR mutations as well as the dominant resistance mutation T790M.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter." ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. Healthcare shares were mixed in pre-market trade on Monday. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter." ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. | In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter." ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. And, Enzo Biochem ( ENZ ) and unit Enzo Life Sciences have reached a settlement agreement with PerkinElmer and PerkinElmer Health Sciences ( PKI ) under which PerkinElmer will pay $7 million in escrow in settlement. | ABBV on Friday hit a 52-week high of $55.52 before closing down 1.6% at $53.30. In healthcare stocks news, AbbVie ( ABBV ) shares were higher in recent pre-market trade after it raised its guidance for FY14 earnings per share on "strong underlying business performance year to date and the expected continued positive trends over the remainder of the year, including the second quarter." Top Healthcare stocks: JNJ: flat |
27466.0 | 2014-06-23 00:00:00 UTC | Shire Rejects AbbVie's Offer, Shares Up - Analyst Blog | ABBV | https://www.nasdaq.com/articles/shire-rejects-abbvies-offer-shares-up-analyst-blog-2014-06-23 | nan | nan | Shares of Shire plc ( SHPG ) soared 16.3% after the company rejected an acquisition offer from AbbVie ( ABBV ).
Shire announced that AbbVie offered to acquire the former for £20.44 in cash and 0.7988 AbbVie shares per Shire share held. The proposal was made on May 30, 2014. AbbVie's proposal represented a value of £46.11 per Shire share (comprising 44% cash and 56% AbbVie shares).
The acquisition proposal also included a new listed holding company in the U.S. post acquisition with a UK tax domicile.
We remind investors that this was the third offer by AbbVie which was rejected by Shire.
Shire stated that the offer undervalues the company and its prospects as a leading company in rare diseases and specialty markets. The company also had reservations about the proposed inversion structure, as AbbVie would redomicile in the UK for tax purposes.
Shire believes that it can double its 2013 annual product sales to $10 billion by 2020 on a standalone basis and the acquisition proposal will deny the shareholders the full benefits of the company's growth strategy .
We note that Shire repositioned its business in 2013 undertaking a realignment program with strategic focus on rare diseases and greater operational discipline. Shire is well placed in the attention deficit and hyperactivity disorder (ADHD) market driven by key drug Vyvanse. Shire's recent acquisition of ViroPharma is expected to boost the bottom line by 7% in 2014.
On the other hand, AbbVie came into existence on Jan 1, 2013, after Abbott Laboratories ( ABT ) divested its pharmaceutical division. AbbVie, a biopharmaceutical company, focuses on the development and marketing of treatments for complex and serious ailments.
We expect investor focus to remain on further updates on the acquisition proposal.
Both Shire and AbbVie currently carry a Zacks Rank #3 (Hold). A better-ranked stock in the broader healthcare sector is Allergan ( AGN ), with a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shares of Shire plc ( SHPG ) soared 16.3% after the company rejected an acquisition offer from AbbVie ( ABBV ). Shire announced that AbbVie offered to acquire the former for £20.44 in cash and 0.7988 AbbVie shares per Shire share held. AbbVie's proposal represented a value of £46.11 per Shire share (comprising 44% cash and 56% AbbVie shares). | Shares of Shire plc ( SHPG ) soared 16.3% after the company rejected an acquisition offer from AbbVie ( ABBV ). Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report To read this article on Zacks.com click here. Shire announced that AbbVie offered to acquire the former for £20.44 in cash and 0.7988 AbbVie shares per Shire share held. | Shire announced that AbbVie offered to acquire the former for £20.44 in cash and 0.7988 AbbVie shares per Shire share held. AbbVie's proposal represented a value of £46.11 per Shire share (comprising 44% cash and 56% AbbVie shares). Click to get this free report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report To read this article on Zacks.com click here. | Shares of Shire plc ( SHPG ) soared 16.3% after the company rejected an acquisition offer from AbbVie ( ABBV ). Shire announced that AbbVie offered to acquire the former for £20.44 in cash and 0.7988 AbbVie shares per Shire share held. AbbVie's proposal represented a value of £46.11 per Shire share (comprising 44% cash and 56% AbbVie shares). |
27467.0 | 2014-06-20 00:00:00 UTC | Midday Update: Dow, S&P 500 Break Records As FOMC Continues To Fuel Rally for Stocks | ABBV | https://www.nasdaq.com/articles/midday-update-dow-sp-500-break-records-fomc-continues-fuel-rally-stocks-2014-06-20 | nan | nan | Dovish comments earlier this week from Federal Reserve Chair Janet Yellen continue to fuel stock market gains Friday afternoon, with equities edging cautiously higher as they extend their winning streak to a sixth day and both the Dow Jones Industrials and the S&P 500 hitting record highs. But the Nasdaq Composite index was underperforming following an earnings miss by Oracle ( ORCL ) and lackluster reviews for Amazon.com's ( AMZN ) new smartphone although strength in the biotech sector was lifting the market gauge to modest gains.
Volatility tied to quadruple witching on Friday has helped offset the dearth of market moving economic data. At the close of trading, stock and stock index futures, equity and stock index options will all expire. At midday, volume in the Dow Industrials has already surpassed the daily average.
The only economic data was the slight increase in the Atlanta Fed business inflation expections which rose to 2.0% in June from 1.9% in May.
European equities followed the lead of their U.S. counterparts despite higher energy prices and continued geo-political worries over Iraq and Ukraine. Gains were compromised, however, by a decline in European consumer confidence which weighed on the German and French index. The UK FTSE-100 held a conservative gain on the expectation for stronger UK growth.
Crude oil was up 0.49% to $39.32 per barrel. Natural gas was down $0.05 to $4.55 per 1 million BTU. Gold was up $1.90 to $1,315.90 an ounce, while silver was up $0.27 to $20.92 an ounce. Copper was up $0.04 to $3.11 per pound.
Among energy ETFs, the United States Oil Fund was up 0.42% to $39.30 with the United States Natural Gas Fund was down 1.12% to $25.13. Amongst precious-metal funds, the Market Vectors Gold Miners ETF was down 0.16% to 25.88 while SPDR Gold Shares was down 0.25% to $126.63. The iShares Silver Trust was up 0.81% to $20.09.
Here's where the U.S. markets stand at mid-day:
NYSE Composite Index up 9.83 (+0.09%) to 11,012.92
Dow Jones Industrial Average up 36.38 (+0.21%) to 16,957.84
S&P 500 up 2.67 (+0.14%) to 1,962.15
Nasdaq Composite Index up 0.40 (+0.01%) to 4,359.72
GLOBAL SENTIMENT
Nikkei 225 Index down 0.08%
Hang Seng Index up 0.11%
Shanghai China Composite Index up 0.15%
FTSE 100 Index up 0.25%
CAC 40 down 0.48%
DAX down 0.17%
NYSE SECTOR INDICES
NYSE Energy Sector Index up 0.70%
NYSE Financial Sector Index up 0.02%
NYSE Healthcare Sector Index up 0.55%
UPSIDE MOVERS
(+) KMX (+17.31%) Q1 earnings and sales topped analyst estimates.
(+) SHPG (+16.17%) AbbVie ( ABBV ) considering raising its bid from $46.5 bln.
(+) KITE (+69.41%) Well-received IPO of 7.4 million shares at $17/share.
(+) CBMG (+18.56%) Positive knee osteoarthritis treatment data.
DOWNSIDE MOVERS
(-) WSCI (-11.63%) Trades lower despite Q3 sales growth, profit triples.
(-) COH (-2.52%) Downgraded by BMO Capital, Wm Blair; Morgan Stanley lowers PT.
(-) EXL (-4.74%) Public offering of 11 mln shares sold at a discount.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (+) SHPG (+16.17%) AbbVie ( ABBV ) considering raising its bid from $46.5 bln. Dovish comments earlier this week from Federal Reserve Chair Janet Yellen continue to fuel stock market gains Friday afternoon, with equities edging cautiously higher as they extend their winning streak to a sixth day and both the Dow Jones Industrials and the S&P 500 hitting record highs. But the Nasdaq Composite index was underperforming following an earnings miss by Oracle ( ORCL ) and lackluster reviews for Amazon.com's ( AMZN ) new smartphone although strength in the biotech sector was lifting the market gauge to modest gains. | (+) SHPG (+16.17%) AbbVie ( ABBV ) considering raising its bid from $46.5 bln. Among energy ETFs, the United States Oil Fund was up 0.42% to $39.30 with the United States Natural Gas Fund was down 1.12% to $25.13. Here's where the U.S. markets stand at mid-day: NYSE Composite Index up 9.83 (+0.09%) to 11,012.92 Dow Jones Industrial Average up 36.38 (+0.21%) to 16,957.84 S&P 500 up 2.67 (+0.14%) to 1,962.15 Nasdaq Composite Index up 0.40 (+0.01%) to 4,359.72 | (+) SHPG (+16.17%) AbbVie ( ABBV ) considering raising its bid from $46.5 bln. Here's where the U.S. markets stand at mid-day: NYSE Composite Index up 9.83 (+0.09%) to 11,012.92 Dow Jones Industrial Average up 36.38 (+0.21%) to 16,957.84 S&P 500 up 2.67 (+0.14%) to 1,962.15 Nasdaq Composite Index up 0.40 (+0.01%) to 4,359.72 Nikkei 225 Index down 0.08% Hang Seng Index up 0.11% Shanghai China Composite Index up 0.15% FTSE 100 Index up 0.25% CAC 40 down 0.48% DAX down 0.17% | (+) SHPG (+16.17%) AbbVie ( ABBV ) considering raising its bid from $46.5 bln. Dovish comments earlier this week from Federal Reserve Chair Janet Yellen continue to fuel stock market gains Friday afternoon, with equities edging cautiously higher as they extend their winning streak to a sixth day and both the Dow Jones Industrials and the S&P 500 hitting record highs. Here's where the U.S. markets stand at mid-day: NYSE Composite Index up 9.83 (+0.09%) to 11,012.92 Dow Jones Industrial Average up 36.38 (+0.21%) to 16,957.84 S&P 500 up 2.67 (+0.14%) to 1,962.15 Nasdaq Composite Index up 0.40 (+0.01%) to 4,359.72 |
27468.0 | 2014-06-20 00:00:00 UTC | US Futures Near Unchanged On Light News Day After S&P 500 Touches Another Record | ABBV | https://www.nasdaq.com/articles/us-futures-near-unchanged-light-news-day-after-sp-500-touches-another-record-2014-06-20 | nan | nan | U.S. stock futures were near unchanged Friday, but in the black, amid a light news day and with no major economic indicators to act as catalysts for trading.
Investors also appeared to be taking a breather after the S&P 500 hit another record Thursday, as President Barack Obama said he'd send 300 military advisers to Iraq while stopping short of announcing a larger plan to help the Iraqi government against Sunni militants.
In equities, Oracle ( ORCL ) took a hit, down more than 6% in recent pre-market trade after it reported fiscal Q4 earnings that were shy of expectations. Shire ( SHPG ) jumped more than 14% after rejecting a $46.5 bllion offer from Abbvie ( ABBV ) on grounds that it undervalued the company. ABBV was up more than 4%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shire ( SHPG ) jumped more than 14% after rejecting a $46.5 bllion offer from Abbvie ( ABBV ) on grounds that it undervalued the company. ABBV was up more than 4%. U.S. stock futures were near unchanged Friday, but in the black, amid a light news day and with no major economic indicators to act as catalysts for trading. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Shire ( SHPG ) jumped more than 14% after rejecting a $46.5 bllion offer from Abbvie ( ABBV ) on grounds that it undervalued the company. ABBV was up more than 4%. | Shire ( SHPG ) jumped more than 14% after rejecting a $46.5 bllion offer from Abbvie ( ABBV ) on grounds that it undervalued the company. ABBV was up more than 4%. U.S. stock futures were near unchanged Friday, but in the black, amid a light news day and with no major economic indicators to act as catalysts for trading. | Shire ( SHPG ) jumped more than 14% after rejecting a $46.5 bllion offer from Abbvie ( ABBV ) on grounds that it undervalued the company. ABBV was up more than 4%. U.S. stock futures were near unchanged Friday, but in the black, amid a light news day and with no major economic indicators to act as catalysts for trading. |
27469.0 | 2014-06-20 00:00:00 UTC | Closing Update: Stocks Extend Advance For Another Session, Lifting S&P 500, Dow to Fresh Records | ABBV | https://www.nasdaq.com/articles/closing-update-stocks-extend-advance-another-session-lifting-sp-500-dow-fresh-records-2014 | nan | nan | Stocks closed higher for a sixth day Friday, with the Dow Jones Industrials and the S&P 500 both hitting record highs. After underperforming much of the session, the Nasdaq Composite index climbed late to pass the other major market gauges, overcoming an earnings miss by Oracle ( ORCL ) and lackluster reviews for Amazon.com's ( AMZN ) new smartphone with new deal speculation and another well received initial public offering boosted biotech stocks.
Volume surged Friday, especially over the final hour of the session, with the monthly and quarterly expiration of equity and commodity options and futures contracts today. There were no economic reports released today.
Crude oil for August delivery settled 76 cents at $106.81 per barrel while July natural gas was down 5 cents to $4.53 per 1 million BTU. August gold rose $2.30 to $1,316.60 per ounce while July silver added 28 cents to finish at $20.95 per ounce. July copper climbed 4 cents, settling at $3.12 per pound.
Here's where the U.S. markets stood at end-of-day:
Dow Jones Industrial Average up 25.62 (+0.15%) to 16,947.08
S&P 500 up 3.39 (+0.17%) too 1,962.87
Nasdaq Composite Index up 8.71 (+0.20%) to 4,368.04
GLOBAL SENTIMENT
Hang Seng Index up 0.11%
Shanghai China Composite Index up 0.15%
FTSE 100 Index up 0.25%
UPSIDE MOVERS
(+) KITE, Drug-maker soars in market debut, climbing nearly 75% after pricing an upsized initial public offering of 7.5 mln share at $17 each. Deal prices $1 over its expected price range, also selling an extra 1.5 mln shares above initial plans.
(+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher.
(+) FLML, Reaches new 52-week high after U.S. regulators approve Aug. 6 Prescription Drug User Fee Act date for the company's second New Drug Application - reportedly an alternative treatment for narcolepsy.
DOWNSIDE MOVERS
(-) MACK, Regains global development and commercialization rights to its MM-121 prospective cancer treatment from Sanofi ( SNY ), which agreed to continue funding Phase II testing for the next six months.
(-) HERO, Terminates drill-rig contract with Sonangol EP, costing the company an estimated $91.8 million, after the Angolan state-owned energy concern failed to secure the necessary visas for its employees to work in the west African country.
(-) EMES, Prices secondary public offering of 3.52 mln equity units at $109.06 each. Selling unitholders include Superior Silica Resources, which cut its ownership by nearly 30% to 6.6 mln units, or about 27.8% of the company.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. |
27470.0 | 2014-06-20 00:00:00 UTC | Sector Update: Healthcare Stocks Rally on M&A Speculation; Kite Pharma Soars in Market Debut | ABBV | https://www.nasdaq.com/articles/sector-update-healthcare-stocks-rally-ma-speculation-kite-pharma-soars-market-debut-2014 | nan | nan | Top Healthcare Stocks
JNJ +1.41%
PFE +0.56%
ABT -0.29%
MRK +1.11%
AMGN +2.51%
Healthcare stocks were higher with the NYSE Healthcare Sector Index adding about 0.5% and shares of healthcare companies in the S&P 500 climbing 0.8% as a group.
In company news, Kite Pharma ( KITE ) had a hot debut on its first day of trading, closing in on a 75% gain in its market debut.
The strong advance follows the specialty drug-maker pricing an upsized initial public offering of 7.5 million shares at a price to the public of $17.00 per share. The deal priced $1 over its expected price range, also selling an extra 1.5 mln shares above initial plans
KITE was up 75.6% at $29.85 a share in late trade, reaching a first day high of $30 a share.
In other sector news,
(+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher.
(-) MACK, Regains global development and commercialization rights to its MM-121 prospective cancer treatment from Sanofi ( SNY ), which agreed to continue funding Phase II testing for the next six months.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In other sector news, (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In other sector news, (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. | In other sector news, (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | ABBV also is higher. In other sector news, (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. |
27471.0 | 2014-06-20 00:00:00 UTC | Sector Update: Healthcare | ABBV | https://www.nasdaq.com/articles/sector-update-healthcare-2014-06-20-0 | nan | nan | Healthcare stocks were higher with the NYSE Healthcare Sector Index adding about 0.5% and shares of healthcare companies in the S&P 500 climbing 0.8% as a group.
In company news, Kite Pharma ( KITE ) had a hot debut on its first day of trading, closing in on a 75% gain in its market debut.
The strong advance follows the specialty drug-maker pricing an upsized initial public offering of 7.5 million shares at a price to the public of $17.00 per share. The deal priced $1 over its expected price range, also selling an extra 1.5 mln shares above initial plans
KITE was up 75.6% at $29.85 a share in late trade, reaching a first day high of $30 a share.
In other sector news,
(+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher.
(-) MACK, Regains global development and commercialization rights to its MM-121 prospective cancer treatment from Sanofi ( SNY ), which agreed to continue funding Phase II testing for the next six months.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In other sector news, (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In other sector news, (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. | In other sector news, (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | ABBV also is higher. In other sector news, (+) SHPG, Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. |
27472.0 | 2014-06-20 00:00:00 UTC | Sector Update: Healthcare Stock Posting Strong Advance; Cara Therapeutics Jump 17% as Painkiller Trial Begins | ABBV | https://www.nasdaq.com/articles/sector-update-healthcare-stock-posting-strong-advance-cara-therapeutics-jump-17-painkiller | nan | nan | Top Healthcare Stocks
JNJ +1.19%
PFE +0.47%
ABT -0.22%
MRK +1.29%
AMGN +2.16%
Healthcare stocks were higher with the NYSE Healthcare Sector Index adding about 0.5% and shares of healthcare companies in the S&P 500 climbing 0.7% as a group.
In company news, Cara Therapeutics ( CARA ) rallied after the drugmaker began Phase Ia/Ib testing on its CR845 prospective pain reliever.
Dosing in the double-blind, randomized, placebo-controlled trial is now underway, with plans to enroll up to 150 healthy volunteers at a single U.S. site. Six concentrations of the oral tablet will be tested.
CARA shares were up more than 17% at $17.15 each, earlier climbing to a session high of $17.49 a share. The stock has sold in a range of $10.40 to $23.35 a share since pricing its initial public offering on Jan. 31, climbing slightly more than 33% from its $11-per-share IPO price.
In other sector news,
(+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher.
(-) MACK, (-14.1%) Regains global development and commercialization rights to its MM-121 prospective cancer treatment from Sanofi ( SNY ), which agreed to continue funding Phase II testing for the next six months.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In other sector news, (+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In other sector news, (+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. | In other sector news, (+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | In other sector news, (+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. |
27473.0 | 2014-06-20 00:00:00 UTC | Sector Update: Healthcare | ABBV | https://www.nasdaq.com/articles/sector-update-healthcare-2014-06-20 | nan | nan | Healthcare stocks were higher with the NYSE Healthcare Sector Index adding about 0.5% and shares of healthcare companies in the S&P 500 climbing 0.7% as a group.
In company news, Cara Therapeutics ( CARA ) rallied after the drugmaker began Phase Ia/Ib testing on its CR845 prospective pain reliever.
Dosing in the double-blind, randomized, placebo-controlled trial is now underway, with plans to enroll up to 150 healthy volunteers at a single U.S. site. Six concentrations of the oral tablet will be tested.
CARA shares were up more than 17% at $17.15 each, earlier climbing to a session high of $17.49 a share. The stock has sold in a range of $10.40 to $23.35 a share since pricing its initial public offering on Jan. 31, climbing slightly more than 33% from its $11-per-share IPO price.
In other sector news,
(+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher.
(-) MACK, (-14.1%) Regains global development and commercialization rights to its MM-121 prospective cancer treatment from Sanofi ( SNY ), which agreed to continue funding Phase II testing for the next six months.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In other sector news, (+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In other sector news, (+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. | In other sector news, (+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. ABBV also is higher. | ABBV also is higher. In other sector news, (+) SHPG, (+16.6%) Rejects three buyout offers from rival drugmaker AbbVie ( ABBV ), one as high as $46 bln in cash and stock. ABBV is now considering a fourth offer, two people with knowledge of matter tell Bloomberg. |
27474.0 | 2014-06-20 00:00:00 UTC | Shire Leads Gains Among European ADRs After Rejecting Takeover Offer; Consumer Confidence Slips | ABBV | https://www.nasdaq.com/articles/shire-leads-gains-among-european-adrs-after-rejecting-takeover-offer-consumer-confidence | nan | nan | Shire Plc ( SHPG ) led gains among American depositary receipts of European companies Friday after rejecting a takeover offer. The gain helped to lift the London's FTSE 100 index to its fourth straight gain, while other European markets fell on an unexpected decline in consumer confidence.
The European Commission's preliminary reading of its confidence index fell to -7.4 in June after reaching a six-year high of -7.1 a month earlier.
The Bank of New York Europe ADR Index was flat to down by less than 1%, compared with a slim gain by the S&P 500 Stock Index. European ADR decliners led advancers 58 to 45.
Shire Plc jumped 15% to $219.66 per ADR after the drugmaker rejected a $46 billion takeover offer of cash and stock from Abbvie Inc. ( ABBV ).
Europe's ADR gainers included Luxottica Group Spa ( LUX ) +3.4%, Abengoa Sa ( ABGB ) +2.6% and CGG ( CGG ) +1.8%.
The decline in consumer confidence pressured a broad range of companies, including Orange (ORAN) -3.1%, CRH Plc (CRH) -3%, Bank of Ireland (IRE) -2.9% and Telecom Italia (TI) -2.9%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shire Plc jumped 15% to $219.66 per ADR after the drugmaker rejected a $46 billion takeover offer of cash and stock from Abbvie Inc. ( ABBV ). Shire Plc ( SHPG ) led gains among American depositary receipts of European companies Friday after rejecting a takeover offer. The European Commission's preliminary reading of its confidence index fell to -7.4 in June after reaching a six-year high of -7.1 a month earlier. | Shire Plc jumped 15% to $219.66 per ADR after the drugmaker rejected a $46 billion takeover offer of cash and stock from Abbvie Inc. ( ABBV ). European ADR decliners led advancers 58 to 45. The decline in consumer confidence pressured a broad range of companies, including Orange (ORAN) -3.1%, CRH Plc (CRH) -3%, Bank of Ireland (IRE) -2.9% and Telecom Italia (TI) -2.9%. | Shire Plc jumped 15% to $219.66 per ADR after the drugmaker rejected a $46 billion takeover offer of cash and stock from Abbvie Inc. ( ABBV ). Shire Plc ( SHPG ) led gains among American depositary receipts of European companies Friday after rejecting a takeover offer. The gain helped to lift the London's FTSE 100 index to its fourth straight gain, while other European markets fell on an unexpected decline in consumer confidence. | Shire Plc jumped 15% to $219.66 per ADR after the drugmaker rejected a $46 billion takeover offer of cash and stock from Abbvie Inc. ( ABBV ). Shire Plc ( SHPG ) led gains among American depositary receipts of European companies Friday after rejecting a takeover offer. The gain helped to lift the London's FTSE 100 index to its fourth straight gain, while other European markets fell on an unexpected decline in consumer confidence. |
27475.0 | 2014-06-18 00:00:00 UTC | Biogen/AbbVie Presents Positive Data on Daclizumab - Analyst Blog | ABBV | https://www.nasdaq.com/articles/biogen-abbvie-presents-positive-data-on-daclizumab-analyst-blog-2014-06-18 | nan | nan | Biogen Idec ( BIIB ) and partner AbbVie ( ABBV ) announced positive top-line results from a phase III trial, DECIDE, on pipeline candidate, daclizumab.
The global, randomized, double-blind, multicenter study was conducted to evaluate the superiority of daclizumab vis-à-vis Avonex, as a potential treatment for relapsing-remitting multiple sclerosis.
The results from the study showed that daclizumab was significantly superior and demonstrated a 45% reduction in ARR compared to Avonex. We note that the primary endpoint in the DECIDE study was the reduction in annualized relapse rate (ARR). On the other hand, although the safety profile of daclizumab in the study was consistent with what was observed in the prior studies, there was an increased incidence of serious infections, serious cutaneous reactions and elevations of liver transaminases in patients treated with daclizumab compared to Avonex.
Based on encouraging data from the study, both Biogen and AbbVie intend to work with regulatory agencies and determine appropriate timelines for filing. The full results from the DECIDE study will be presented at a conference later.
We note that Biogen holds a strong position in the multiple sclerosis (MS) market with drugs like Avonex, Tysabri and the recently launched oral MS treatment, Tecfidera. Tecfidera is off to a strong start in the U.S. and already holds a leading position in the oral MS market.
Meanwhile, Biogen is working on further strengthening its position in the MS market. The company has another candidate, Plegridy, in its pipeline, being evaluated for relapsing forms of MS.
Biogen recently received a boost when the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency issued a positive opinion for Plegridy.
We believe the successful development and approval of daclizumab and Plegridy will further strengthen its MS franchise.
Biogen is a Zacks Rank #3 (Hold) stock. Some better-ranked stocks in the healthcare sector include companies like Gilead Sciences Inc. ( GILD ) and Allergan ( AGN ). Both carry a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Biogen Idec ( BIIB ) and partner AbbVie ( ABBV ) announced positive top-line results from a phase III trial, DECIDE, on pipeline candidate, daclizumab. Based on encouraging data from the study, both Biogen and AbbVie intend to work with regulatory agencies and determine appropriate timelines for filing. Click to get this free report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen Idec ( BIIB ) and partner AbbVie ( ABBV ) announced positive top-line results from a phase III trial, DECIDE, on pipeline candidate, daclizumab. Based on encouraging data from the study, both Biogen and AbbVie intend to work with regulatory agencies and determine appropriate timelines for filing. | Click to get this free report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen Idec ( BIIB ) and partner AbbVie ( ABBV ) announced positive top-line results from a phase III trial, DECIDE, on pipeline candidate, daclizumab. Based on encouraging data from the study, both Biogen and AbbVie intend to work with regulatory agencies and determine appropriate timelines for filing. | Biogen Idec ( BIIB ) and partner AbbVie ( ABBV ) announced positive top-line results from a phase III trial, DECIDE, on pipeline candidate, daclizumab. Based on encouraging data from the study, both Biogen and AbbVie intend to work with regulatory agencies and determine appropriate timelines for filing. Click to get this free report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. |
27476.0 | 2014-06-16 00:00:00 UTC | Gilead's HCV Combination Therapy Data Looks Promising - Analyst Blog | ABBV | https://www.nasdaq.com/articles/gileads-hcv-combination-therapy-data-looks-promising-analyst-blog-2014-06-16 | nan | nan | Gilead Sciences ( GILD ) announced encouraging top-line results from a phase III study (GS-US-337-0113: n=341) on a fixed-dose (all-oral) combination of ledipasvir (NS5A inhibitor) and Sovaldi (with or without ribavirin) in Japan for treating patients with chronic HCV genotype 1 infection.
Gilead evaluated the combination therapy in treatment-naïve (n=166) as well as treatment-experienced (n=175) patients in the 12-week study. Gilead stated in its press release that of the total HCV patients evaluated in the study, 76 had compensated cirrhosis.
Data revealed the entire cohort of treatment-naïve (n=83) and treatment-experienced (n=88) patients achieved a sustained virologic response 12 weeks after the completion of treatment (SVR12) by the all oral combination (without ribavirin). Patients achieving SVR12 are considered to be cured of the dreaded virus.
Results were also encouraging in patients receiving ribavirin plus the combination therapy for 12 weeks in both the treatment-experienced (100% SVR12) and treatment-naïve (96% SVR12) arms. Data from the phase III study showed that SVR12 was achieved by 75 HCV patients (across all arms) with compensated cirrhosis. Gilead said that the phase III study met its primary endpoint of superiority compared to a predefined historical SVR 12 rate.
We are positive on the encouraging data on the combination therapy in Japan as genotype 1 chronic HCV infection is the most common HCV strain found in the country. Consequently, a Japanese approval (expected to be sought by Dec 31, 2014) for the combination in the above population would boost Gilead's top line significantly. The cocktail therapy is under review in the U.S. and EU for treating HCV patients with genotype 1 version of the virus.
Sovaldi, as a monotherapy, is already available in the U.S., the EU and Canada. The drug performed exceptionally well in the first quarter of 2014. The HCV treatment recorded sales of $2.27 billion in its first full quarter in the market. Sovaldi sales are expected to be strong throughout 2014. Japanese approval for Sovaldi will be sought by Gilead shortly.
Approval of the all oral HCV combination would further strengthen Gilead's position in the lucrative HCV market. We note that AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring HCV all-oral combination therapies into the market.
Gilead carries a Zacks Rank #1 (Strong Buy). Regeneron Pharmaceuticals ( REGN ) carries the same rank as Gilead in the healthcare sector.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | We note that AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring HCV all-oral combination therapies into the market. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Gilead Sciences ( GILD ) announced encouraging top-line results from a phase III study (GS-US-337-0113: n=341) on a fixed-dose (all-oral) combination of ledipasvir (NS5A inhibitor) and Sovaldi (with or without ribavirin) in Japan for treating patients with chronic HCV genotype 1 infection. | Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. We note that AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring HCV all-oral combination therapies into the market. Gilead Sciences ( GILD ) announced encouraging top-line results from a phase III study (GS-US-337-0113: n=341) on a fixed-dose (all-oral) combination of ledipasvir (NS5A inhibitor) and Sovaldi (with or without ribavirin) in Japan for treating patients with chronic HCV genotype 1 infection. | Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. We note that AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring HCV all-oral combination therapies into the market. Gilead Sciences ( GILD ) announced encouraging top-line results from a phase III study (GS-US-337-0113: n=341) on a fixed-dose (all-oral) combination of ledipasvir (NS5A inhibitor) and Sovaldi (with or without ribavirin) in Japan for treating patients with chronic HCV genotype 1 infection. | We note that AbbVie ( ABBV ) and Bristol-Myers Squibb Company ( BMY ) are also aiming to bring HCV all-oral combination therapies into the market. Click to get this free report REGENERON PHARM (REGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Data from the phase III study showed that SVR12 was achieved by 75 HCV patients (across all arms) with compensated cirrhosis. |
27477.0 | 2014-06-16 00:00:00 UTC | AbbVie Gets Priority Review from FDA for HCV Treatment - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvie-gets-priority-review-from-fda-for-hcv-treatment-analyst-blog-2014-06-16 | nan | nan | The FDA has granted priority review status to AbbVie's ( ABBV ) experimental all-oral, interferon-free therapy for the treatment of adults with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection.
With the new drug application (NDA) being submitted on Apr 21, AbbVie should receive a response from the FDA early in the fourth quarter.
The experimental HCV regimen has Breakthrough Therapy status which was granted by the FDA in May 2013. Breakthrough Therapy status, a new designation that became effective after Jul 9, 2012, is designed to cut short the development time of promising new treatments.
The HCV regimen has also been submitted for review in the EU where the marketing application was filed in May.
AbbVie's HCV regimen comprises ABT-450/ritonavir co-formulated with ombitasvir (ABT-267), and dasabuvir (ABT-333) with or without ribavarin. AbbVie has presented impressive data on the experimental regimen and the NDA includes data from six phase III studies. First-round approval could very well result in this new treatment hitting the market by year end.
The HCV market is attracting a lot of interest - Gilead's ( GILD ) Sovaldi has been bringing in billions of dollars within a few months of its approval despite concerns regarding its high price. Plus there is space in the market for additional treatments. Interest in the HCV market increased further with pharma giant Merck ( MRK ) recently announcing its intention to acquire HCV focused Idenix Pharmaceuticals, Inc. ( IDIX ) for about $3.85 billion.
Several companies are looking to bring the next generation of HCV treatments to market. Gilead itself is looking to get its once-daily fixed-dose HCV cocktail treatment -- ledipasvir (NS5A inhibitor) plus Sovaldi (nucleotide analog polymerase inhibitor) -- approved in the U.S.
AbbVie is a Zacks Rank #3 (Hold) stock. Gilead, which carries a Zacks Rank #1 (Strong Buy), is a better-ranked stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The FDA has granted priority review status to AbbVie's ( ABBV ) experimental all-oral, interferon-free therapy for the treatment of adults with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection. With the new drug application (NDA) being submitted on Apr 21, AbbVie should receive a response from the FDA early in the fourth quarter. AbbVie's HCV regimen comprises ABT-450/ritonavir co-formulated with ombitasvir (ABT-267), and dasabuvir (ABT-333) with or without ribavarin. | The FDA has granted priority review status to AbbVie's ( ABBV ) experimental all-oral, interferon-free therapy for the treatment of adults with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report IDENIX PHARMA (IDIX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. With the new drug application (NDA) being submitted on Apr 21, AbbVie should receive a response from the FDA early in the fourth quarter. | The FDA has granted priority review status to AbbVie's ( ABBV ) experimental all-oral, interferon-free therapy for the treatment of adults with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection. Gilead itself is looking to get its once-daily fixed-dose HCV cocktail treatment -- ledipasvir (NS5A inhibitor) plus Sovaldi (nucleotide analog polymerase inhibitor) -- approved in the U.S. AbbVie is a Zacks Rank #3 (Hold) stock. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report IDENIX PHARMA (IDIX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. | The FDA has granted priority review status to AbbVie's ( ABBV ) experimental all-oral, interferon-free therapy for the treatment of adults with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection. With the new drug application (NDA) being submitted on Apr 21, AbbVie should receive a response from the FDA early in the fourth quarter. AbbVie's HCV regimen comprises ABT-450/ritonavir co-formulated with ombitasvir (ABT-267), and dasabuvir (ABT-333) with or without ribavarin. |
27478.0 | 2014-06-11 00:00:00 UTC | Bristol-Myers' RA Drug Orencia Encouraging - Analyst Blog | ABBV | https://www.nasdaq.com/articles/bristol-myers-ra-drug-orencia-encouraging-analyst-blog-2014-06-11 | nan | nan | Bristol-Myers Squibb Company 's ( BMY ) rheumatoid arthritis (RA) drug Orencia (125 mg) performed well in a phase IIIb study (AVERT: n= 351). The study evaluated Orencia in combination with methotrexate (MTX) as a first-line therapy for adults suffering from the chronic autoimmune disease.
Data from the active-controlled study revealed that at 12 months of treatment, 60.9% patients in the Orencia plus MTX arm achieved DAS-defined (DAS28 CRP
In addition, data from the study revealed that even after the withdrawal of all RA drugs, the benefits were maintained (for 6 months) in more patients in the combination arm than those treated solely with MTX. Orencia was also found to be well tolerated in the study. Bristol-Myers presented the data at the annual meeting of the European League Against Rheumatism (EULAR).
Orencia, one of the older drugs at Bristol-Myers, is available both in intravenous as well as subcutaneous forms. The drug performed well in the first quarter of 2014, with sales climbing 13% year over year to $363 million.
Besides Bristol-Myers, we note that the RA market includes players like Pfizer ( PFE ) and AbbVie ( ABBV ).
Bristol-Myers carries a Zacks Rank #3 (Hold). An example of a better-ranked stock in the healthcare space is Gilead Sciences ( GILD ), carrying a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Besides Bristol-Myers, we note that the RA market includes players like Pfizer ( PFE ) and AbbVie ( ABBV ). Click to get this free report BRISTOL-MYERS (BMY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. Bristol-Myers Squibb Company 's ( BMY ) rheumatoid arthritis (RA) drug Orencia (125 mg) performed well in a phase IIIb study (AVERT: n= 351). | Click to get this free report BRISTOL-MYERS (BMY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. Besides Bristol-Myers, we note that the RA market includes players like Pfizer ( PFE ) and AbbVie ( ABBV ). An example of a better-ranked stock in the healthcare space is Gilead Sciences ( GILD ), carrying a Zacks Rank #1 (Strong Buy). | Click to get this free report BRISTOL-MYERS (BMY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. Besides Bristol-Myers, we note that the RA market includes players like Pfizer ( PFE ) and AbbVie ( ABBV ). Data from the active-controlled study revealed that at 12 months of treatment, 60.9% patients in the Orencia plus MTX arm achieved DAS-defined (DAS28 CRP In addition, data from the study revealed that even after the withdrawal of all RA drugs, the benefits were maintained (for 6 months) in more patients in the combination arm than those treated solely with MTX. | Click to get this free report BRISTOL-MYERS (BMY): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. Besides Bristol-Myers, we note that the RA market includes players like Pfizer ( PFE ) and AbbVie ( ABBV ). An example of a better-ranked stock in the healthcare space is Gilead Sciences ( GILD ), carrying a Zacks Rank #1 (Strong Buy). |
27479.0 | 2014-06-10 00:00:00 UTC | Idenix Skyrockets on Merck Acquisition Deal, Focus on HCV - Analyst Blog | ABBV | https://www.nasdaq.com/articles/idenix-skyrockets-on-merck-acquisition-deal-focus-on-hcv-analyst-blog-2014-06-10 | nan | nan | Shares of Idenix Pharmaceuticals, Inc. ( IDIX ) skyrocketed 229.05% on news that the company will be acquired by pharma giant, Merck ( MRK ). Merck's offer price of $24.50 per share in cash was more than three times the company's share price before the offer was announced. The acquisition, slated to close in the third quarter, is valued at about $3.85 billion.
With the Idenix acquisition, Merck is looking to boost its hepatitis C virus (HCV) portfolio. Merck has a presence in the HCV market in the form of Victrelis and has three HCV candidates in its pipeline. Merck's lead HCV program is a combination of MK-5172 (NS3/4A protease inhibitor) and MK-8742 (NS5A replication complex inhibitor) currently in phase III studies. This combination has Breakthrough Therapy designation in the U.S.
Idenix will bring with it three HCV candidates - IDX21437 (proof-of-concept done with phase II scheduled to commence shortly), IDX21459 (phase I ongoing outside the U.S.) and samatasvir (phase II to commence shortly). While samatasvir is a NS5A inhibitor, the other two are nucleotide (nuke) prodrugs.
The goal is to bring a once-daily, all oral, ribavirin-free, pan-genotypic regimen that is highly effective and involves shorter treatment duration.
Our Take
This deal is in line with Merck's efforts to expand its pipeline and focus on its core areas of expertise. Although the price looks a bit high (especially considering the candidates are still early-stage and years away from commercialization), the successful development and approval of the Idenix candidates would allow Merck to generate a decent return given the high and growing demand for better HCV treatments. The addition of nukes to Merck's pipeline is a plus for the company's HCV portfolio.
The HCV market has always been viewed as highly lucrative. Gilead's ( GILD ) Sovaldi has been bringing in billions of dollars within a few months of its approval despite concerns regarding its high price. Plus there is space in the market for additional treatments.
Several companies have been working on developing the next generation of HCV treatments. In addition to Merck and Gilead, companies like Achillion Pharmaceuticals, Inc. ( ACHN ) and AbbVie ( ABBV ) are also developing HCV candidates. In fact, Achillion Pharma's shares shot up 47.57% on the Idenix - Merck acquisition news reflecting expectations that Achillion Pharma too is a potential takeover target.
Both Merck and Idenix are Zacks Rank #3 (Hold) stocks. Gilead is a better-ranked stock with a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In addition to Merck and Gilead, companies like Achillion Pharmaceuticals, Inc. ( ACHN ) and AbbVie ( ABBV ) are also developing HCV candidates. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report IDENIX PHARMA (IDIX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Idenix Pharmaceuticals, Inc. ( IDIX ) skyrocketed 229.05% on news that the company will be acquired by pharma giant, Merck ( MRK ). | In addition to Merck and Gilead, companies like Achillion Pharmaceuticals, Inc. ( ACHN ) and AbbVie ( ABBV ) are also developing HCV candidates. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report IDENIX PHARMA (IDIX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In addition to Merck and Gilead, companies like Achillion Pharmaceuticals, Inc. ( ACHN ) and AbbVie ( ABBV ) are also developing HCV candidates. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report IDENIX PHARMA (IDIX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. Although the price looks a bit high (especially considering the candidates are still early-stage and years away from commercialization), the successful development and approval of the Idenix candidates would allow Merck to generate a decent return given the high and growing demand for better HCV treatments. | In addition to Merck and Gilead, companies like Achillion Pharmaceuticals, Inc. ( ACHN ) and AbbVie ( ABBV ) are also developing HCV candidates. Click to get this free report GILEAD SCIENCES (GILD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report IDENIX PHARMA (IDIX): Free Stock Analysis Report ABBVIE INC (ABBV): Free Stock Analysis Report ACHILLION PHARM (ACHN): Free Stock Analysis Report To read this article on Zacks.com click here. The addition of nukes to Merck's pipeline is a plus for the company's HCV portfolio. |
27480.0 | 2014-06-09 00:00:00 UTC | Notable ETF Inflow Detected - IWB, BAC, C, ABBV | ABBV | https://www.nasdaq.com/articles/notable-etf-inflow-detected-iwb-bac-c-abbv-2014-06-09 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $49.2 million dollar inflow -- that's a 0.5% increase week over week in outstanding units (from 84,950,000 to 85,400,000). Among the largest underlying components of IWB, in trading today Bank of America Corp. (Symbol: BAC) is up about 1.4%, Citigroup Inc (Symbol: C) is up about 0.5%, and AbbVie Inc. (Symbol: ABBV) is lower by about 0.8%. The chart below shows the one year price performance of IWB, versus its 200 day moving average:
Looking at the chart above, IWB's low point in its 52 week range is $86.84 per share, with $109.44 as the 52 week high point - that compares with a last trade of $109.43. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average » .
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IWB, in trading today Bank of America Corp. (Symbol: BAC) is up about 1.4%, Citigroup Inc (Symbol: C) is up about 0.5%, and AbbVie Inc. (Symbol: ABBV) is lower by about 0.8%. The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $86.84 per share, with $109.44 as the 52 week high point - that compares with a last trade of $109.43. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of IWB, in trading today Bank of America Corp. (Symbol: BAC) is up about 1.4%, Citigroup Inc (Symbol: C) is up about 0.5%, and AbbVie Inc. (Symbol: ABBV) is lower by about 0.8%. The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $86.84 per share, with $109.44 as the 52 week high point - that compares with a last trade of $109.43. Click here to find out which 9 other ETFs had notable inflows » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IWB, in trading today Bank of America Corp. (Symbol: BAC) is up about 1.4%, Citigroup Inc (Symbol: C) is up about 0.5%, and AbbVie Inc. (Symbol: ABBV) is lower by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $49.2 million dollar inflow -- that's a 0.5% increase week over week in outstanding units (from 84,950,000 to 85,400,000). The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $86.84 per share, with $109.44 as the 52 week high point - that compares with a last trade of $109.43. | Among the largest underlying components of IWB, in trading today Bank of America Corp. (Symbol: BAC) is up about 1.4%, Citigroup Inc (Symbol: C) is up about 0.5%, and AbbVie Inc. (Symbol: ABBV) is lower by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $49.2 million dollar inflow -- that's a 0.5% increase week over week in outstanding units (from 84,950,000 to 85,400,000). These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. |
27481.0 | 2014-06-02 00:00:00 UTC | Merck Presents Positive Trial Results For Cancer Drug | ABBV | https://www.nasdaq.com/articles/merck-presents-positive-trial-results-cancer-drug-2014-06-02 | nan | nan | Merck ( MRK ) seeks to add potential new blockbuster drugs to its disease-fighting arsenal as it takes on cancer and hepatitis C.
On Monday, the drugmaker presented results from a phase-one trial of its pembrolizumab cancer treatment at the American Society of Clinical Oncology meeting in Chicago. The study showed 69% of patients with advanced melanoma that had spread elsewhere in the body survived following a year of treatment. After 18 months, 62% were still alive.
In January, Merck filed with the FDA for approval to use pembrolizumab to treat melanoma. The drug is expected to eventually be approved to treat lung cancer as well.
At the International Liver Congress in April,the Whitehouse Station, N.J.-based company released positive results for a hepatitis C drug cocktail. The company reported a 98% cure rate in hepatitis C genotype 1 patients who took Merck's MK-5172 and MK-8742 drug candidates during phase-two trials.
The drug combo, taken once a day and combined in a single pill, could rivalGilead Sciences ' ( GILD ) sofosbuvir/ledipasvir cocktail drug, which is awaiting FDA approval.AbbVie ( ABBV ) andEnanta Pharmaceuticals ( ENTA ) also have a combo hepatitis C drug that's expected to launch later this year.
Merck's annual earnings dipped 9% last year to $3.49 a share. Analysts expect a 1% pullback this year, before growth resumes at 5% next year. Sales fell the past two years, as is typical in Big Pharma when branded drugs lose patent protection and generics flood the market.
In April, the drugmaker paid out a quarterly dividend of 44 cents a share, or $1.76 on an annualized basis. That works out to a 3% yield, above the S&P 500's 1.88%. The payout has increased for the third straight year, after holding at 38 cents a share from 2005 to 2011.
Merck's stock is trading at its highest levels in more than six years and is up 14% from a 50.52 flat-base buy point cleared in January.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The drug combo, taken once a day and combined in a single pill, could rivalGilead Sciences ' ( GILD ) sofosbuvir/ledipasvir cocktail drug, which is awaiting FDA approval.AbbVie ( ABBV ) andEnanta Pharmaceuticals ( ENTA ) also have a combo hepatitis C drug that's expected to launch later this year. At the International Liver Congress in April,the Whitehouse Station, N.J.-based company released positive results for a hepatitis C drug cocktail. The company reported a 98% cure rate in hepatitis C genotype 1 patients who took Merck's MK-5172 and MK-8742 drug candidates during phase-two trials. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The drug combo, taken once a day and combined in a single pill, could rivalGilead Sciences ' ( GILD ) sofosbuvir/ledipasvir cocktail drug, which is awaiting FDA approval.AbbVie ( ABBV ) andEnanta Pharmaceuticals ( ENTA ) also have a combo hepatitis C drug that's expected to launch later this year. Merck ( MRK ) seeks to add potential new blockbuster drugs to its disease-fighting arsenal as it takes on cancer and hepatitis C. On Monday, the drugmaker presented results from a phase-one trial of its pembrolizumab cancer treatment at the American Society of Clinical Oncology meeting in Chicago. | The drug combo, taken once a day and combined in a single pill, could rivalGilead Sciences ' ( GILD ) sofosbuvir/ledipasvir cocktail drug, which is awaiting FDA approval.AbbVie ( ABBV ) andEnanta Pharmaceuticals ( ENTA ) also have a combo hepatitis C drug that's expected to launch later this year. Merck ( MRK ) seeks to add potential new blockbuster drugs to its disease-fighting arsenal as it takes on cancer and hepatitis C. On Monday, the drugmaker presented results from a phase-one trial of its pembrolizumab cancer treatment at the American Society of Clinical Oncology meeting in Chicago. Analysts expect a 1% pullback this year, before growth resumes at 5% next year. | The drug combo, taken once a day and combined in a single pill, could rivalGilead Sciences ' ( GILD ) sofosbuvir/ledipasvir cocktail drug, which is awaiting FDA approval.AbbVie ( ABBV ) andEnanta Pharmaceuticals ( ENTA ) also have a combo hepatitis C drug that's expected to launch later this year. In January, Merck filed with the FDA for approval to use pembrolizumab to treat melanoma. The drug is expected to eventually be approved to treat lung cancer as well. |
27482.0 | 2014-05-28 00:00:00 UTC | AbbVie Up on HCV Filing in Canada - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvie-up-on-hcv-filing-in-canada-analyst-blog-2014-05-28 | nan | nan | AbbVie Inc. 's ( ABBV ) shares continue to inch up since the company announced its new drug submission (NDS) to Health Canada for its investigational hepatitis C virus (HCV) infection therapy. Shares were up 0.7% following the company's announcement. Overall shares increased 1.3% since the announcement.
AbbVie's oral investigational regimen comprises a fixed-dose combination of ABT-450/Norvir (150 mg/100 mg) co-formulated with ABT-267 (once daily) and ABT-333 with or without ribavirin (RBV), administered twice daily. The company is the looking to get the combination therapy approved for use in adults with chronic genotype 1 (GT 1) HCV infection.
The company is developing ABT-450 in collaboration with Enanta Pharmaceuticals ( ENTA ). The investigational HCV therapy is also under FDA review for the same indication.
We note that on May 1, 2014, Health Canada granted priority review status to AbbVie's investigational direct-acting antiviral (DAA) regimen (with and without ribavirin) for the treatment of HCV GT 1. The designation should help expedite the review process for the candidate.
The candidate also has Breakthrough Therapy status in the U.S. AbbVie intends to commercialize the combination therapy in the U.S. in late 2014, if approved, and expects EU approval in early 2015.
We are pleased to see AbbVie working on strengthening its HCV pipeline. However, the market is highly crowded and is led by Gilead Sciences ( GILD ). Gilead's Sovaldi (launched in Dec 2013) generated revenues of $2.27 billion in the first quarter of 2014. Moreover, the company is looking to get a combination therapy of ledipasvir and Sovaldi approved in the U.S. and EU.
Recently, Johnson & Johnson 's ( JNJ ) Olysio received approval in the EU for the treatment of genotype 1 and 4 chronic HCV infection.
AbbVie carries a Zacks Rank #3 (Hold). Gilead is a better-ranked stock with a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc. 's ( ABBV ) shares continue to inch up since the company announced its new drug submission (NDS) to Health Canada for its investigational hepatitis C virus (HCV) infection therapy. We note that on May 1, 2014, Health Canada granted priority review status to AbbVie's investigational direct-acting antiviral (DAA) regimen (with and without ribavirin) for the treatment of HCV GT 1. AbbVie's oral investigational regimen comprises a fixed-dose combination of ABT-450/Norvir (150 mg/100 mg) co-formulated with ABT-267 (once daily) and ABT-333 with or without ribavirin (RBV), administered twice daily. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ENANTA PHARMA (ENTA): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc. 's ( ABBV ) shares continue to inch up since the company announced its new drug submission (NDS) to Health Canada for its investigational hepatitis C virus (HCV) infection therapy. AbbVie's oral investigational regimen comprises a fixed-dose combination of ABT-450/Norvir (150 mg/100 mg) co-formulated with ABT-267 (once daily) and ABT-333 with or without ribavirin (RBV), administered twice daily. | AbbVie Inc. 's ( ABBV ) shares continue to inch up since the company announced its new drug submission (NDS) to Health Canada for its investigational hepatitis C virus (HCV) infection therapy. The candidate also has Breakthrough Therapy status in the U.S. AbbVie intends to commercialize the combination therapy in the U.S. in late 2014, if approved, and expects EU approval in early 2015. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ENANTA PHARMA (ENTA): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. | AbbVie Inc. 's ( ABBV ) shares continue to inch up since the company announced its new drug submission (NDS) to Health Canada for its investigational hepatitis C virus (HCV) infection therapy. AbbVie's oral investigational regimen comprises a fixed-dose combination of ABT-450/Norvir (150 mg/100 mg) co-formulated with ABT-267 (once daily) and ABT-333 with or without ribavirin (RBV), administered twice daily. We note that on May 1, 2014, Health Canada granted priority review status to AbbVie's investigational direct-acting antiviral (DAA) regimen (with and without ribavirin) for the treatment of HCV GT 1. |
27483.0 | 2014-05-27 00:00:00 UTC | CHMP Positive on Roche's Gazyvaro - Analyst Blog | ABBV | https://www.nasdaq.com/articles/chmp-positive-on-roches-gazyvaro-analyst-blog-2014-05-27 | nan | nan | Roche ( RHHBY ) received positive news when the Committee for Medicinal Products for Human Use (CHMP) recommended the European Commission to approve Gazyvaro in combination with chlorambucil for the treatment of adult patients suffering from previously untreated chronic lymphocytic leukemia (CLL).
These patients had comorbidities and were unsuitable for chemotherapy.
We note that Gazyvaro is approved in the U.S. under the brand name Gazyva.
The CHMP recommendation for approval was based on positive data from a phase III study, CLL11. Roche conducted the study in collaboration with the German CLL Study Group and is evaluating the efficacy and safety profile of Gazyvaro plus chlorambucil, MabThera plus chlorambucil and chlorambucil alone in previously untreated people suffering from CLL.
It was observed from the study results that treatment with Gazyvaro plus chlorambucil significantly reduced the risk of disease worsening or death by 86% and increased survival time for previously untreated CLL patients as compared to those who received treatment with chlorambucil alone.
In addition, the data from the study showed that Gazyvaro plus chlorambucil significantly reduced the risk of disease worsening or death by 61% versus MabThera plus chlorambucil. The study met its primary end point.
A final decision is expected from the European Commission in the coming months.
The approval of Gazyvaro in the EU will further boost Roche's hematology portfolio which already consists of drugs like MabThera.
Roche's hematology pipeline consists of candidates such as anti-CD79b antibody drug conjugate (RG7596/polatuzumab vedotin), MDM2 (RG7112) and RG7601/GDC-0199/ABT-199, which is being developed in collaboration with AbbVie ( ABBV ).
Roche currently carries a Zacks Rank #3 (Hold). Currently, stocks like Allergan ( AGN ) and Gilead Sciences ( GILD ) look attractive in the healthcare sector. Both carry a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Roche's hematology pipeline consists of candidates such as anti-CD79b antibody drug conjugate (RG7596/polatuzumab vedotin), MDM2 (RG7112) and RG7601/GDC-0199/ABT-199, which is being developed in collaboration with AbbVie ( ABBV ). Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here. Roche ( RHHBY ) received positive news when the Committee for Medicinal Products for Human Use (CHMP) recommended the European Commission to approve Gazyvaro in combination with chlorambucil for the treatment of adult patients suffering from previously untreated chronic lymphocytic leukemia (CLL). | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here. Roche's hematology pipeline consists of candidates such as anti-CD79b antibody drug conjugate (RG7596/polatuzumab vedotin), MDM2 (RG7112) and RG7601/GDC-0199/ABT-199, which is being developed in collaboration with AbbVie ( ABBV ). Roche ( RHHBY ) received positive news when the Committee for Medicinal Products for Human Use (CHMP) recommended the European Commission to approve Gazyvaro in combination with chlorambucil for the treatment of adult patients suffering from previously untreated chronic lymphocytic leukemia (CLL). | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here. Roche's hematology pipeline consists of candidates such as anti-CD79b antibody drug conjugate (RG7596/polatuzumab vedotin), MDM2 (RG7112) and RG7601/GDC-0199/ABT-199, which is being developed in collaboration with AbbVie ( ABBV ). Roche ( RHHBY ) received positive news when the Committee for Medicinal Products for Human Use (CHMP) recommended the European Commission to approve Gazyvaro in combination with chlorambucil for the treatment of adult patients suffering from previously untreated chronic lymphocytic leukemia (CLL). | Roche's hematology pipeline consists of candidates such as anti-CD79b antibody drug conjugate (RG7596/polatuzumab vedotin), MDM2 (RG7112) and RG7601/GDC-0199/ABT-199, which is being developed in collaboration with AbbVie ( ABBV ). Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here. Roche ( RHHBY ) received positive news when the Committee for Medicinal Products for Human Use (CHMP) recommended the European Commission to approve Gazyvaro in combination with chlorambucil for the treatment of adult patients suffering from previously untreated chronic lymphocytic leukemia (CLL). |
27484.0 | 2014-05-27 00:00:00 UTC | Biogen's Plegridy Closer to EU Approval - Analyst Blog | ABBV | https://www.nasdaq.com/articles/biogens-plegridy-closer-to-eu-approval-analyst-blog-2014-05-27 | nan | nan | Biotech company, Biogen Idec ( BIIB ), well known for its strong presence in the multiple sclerosis (MS) market, received a boost with the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issuing a positive opinion for its multiple sclerosis candidate, Plegridy (peginterferon beta-1a).
Biogen is looking to get Plegridy, a pegylated interferon administered subcutaneously, approved for use in adults with relapsing-remitting multiple sclerosis (RRMS). A decision from the European Commission (EC) regarding the candidate's approval status should be out in the second half of the year. With the CHMP issuing a positive opinion, we believe chances of gaining approval in the EU are high.
Plegridy is also under review in the U.S. where a response should be out in the second half of the year.
Biogen's MS portfolio consists of drugs like Avonex, Tysabri and Tecfidera. Tecfidera is off to a strong start in the U.S. and already holds a leading position in the oral MS market. We expect the drug to do well in the EU too where it was launched recently.
Biogen is working on consolidating its position in the MS market. In addition to Plegridy, Biogen has daclizumab in its MS pipeline. Biogen and partner AbbVie ( ABBV ) are conducting a two-year phase III study (DECIDE) on daclizumab with results due this year. Biogen is also looking to expand Tysabri's label and is conducting a phase IIIb study (ASCEND) in combination with daclizumab in patients with secondary-progressive MS - results are expected in 2015.
Biogen is a Zacks Rank #3 (Hold) stock. Some better-ranked stocks in the biotech sector include Gilead Sciences Inc. ( GILD ) and Osiris Therapeutics ( OSIR ). Both are Zacks Rank #1 (Strong Buy) stocks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Biogen and partner AbbVie ( ABBV ) are conducting a two-year phase III study (DECIDE) on daclizumab with results due this year. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report OSIRIS THERAPTC (OSIR): Free Stock Analysis Report To read this article on Zacks.com click here. Biotech company, Biogen Idec ( BIIB ), well known for its strong presence in the multiple sclerosis (MS) market, received a boost with the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issuing a positive opinion for its multiple sclerosis candidate, Plegridy (peginterferon beta-1a). | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report OSIRIS THERAPTC (OSIR): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen and partner AbbVie ( ABBV ) are conducting a two-year phase III study (DECIDE) on daclizumab with results due this year. Biotech company, Biogen Idec ( BIIB ), well known for its strong presence in the multiple sclerosis (MS) market, received a boost with the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issuing a positive opinion for its multiple sclerosis candidate, Plegridy (peginterferon beta-1a). | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report OSIRIS THERAPTC (OSIR): Free Stock Analysis Report To read this article on Zacks.com click here. Biogen and partner AbbVie ( ABBV ) are conducting a two-year phase III study (DECIDE) on daclizumab with results due this year. Biotech company, Biogen Idec ( BIIB ), well known for its strong presence in the multiple sclerosis (MS) market, received a boost with the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issuing a positive opinion for its multiple sclerosis candidate, Plegridy (peginterferon beta-1a). | Biogen and partner AbbVie ( ABBV ) are conducting a two-year phase III study (DECIDE) on daclizumab with results due this year. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report OSIRIS THERAPTC (OSIR): Free Stock Analysis Report To read this article on Zacks.com click here. Biotech company, Biogen Idec ( BIIB ), well known for its strong presence in the multiple sclerosis (MS) market, received a boost with the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issuing a positive opinion for its multiple sclerosis candidate, Plegridy (peginterferon beta-1a). |
27485.0 | 2014-05-21 00:00:00 UTC | AbbVie's Humira Gets Orphan Drug Designation - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvies-humira-gets-orphan-drug-designation-analyst-blog-2014-05-21 | nan | nan | AbbVie Inc. ( ABBV ) announced that its drug, Humira, has received orphan drug designation from the U.S. Food and Drug Administration (FDA) for the treatment of non-infectious intermediate, posterior, or pan-uveitis, or chronic non-infectious anterior uveitis (rare but serious inflammatory diseases of the eye).
Orphan drug designation is usually granted to novel drugs or biologics targeting rare diseases or conditions that affect less than 0.2 million patients in the U.S. Under this status, the company developing the orphan drug enjoys a seven-year period of marketing exclusivity, receives assistance on studies conducted on the drug and tax credits on costs related to such studies, can apply for annual grant funding and is exempted from paying fees under the Prescription Drug User Fee Act (PDUFA).
We note that Humira is the key growth driver at AbbVie. The product generated revenues of $2.6 billion in the first quarter of 2014, more than 57% of the company's total revenues.
Humira is already approved for several indications including rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, plaque psoriasis, ulcerative colitis and juvenile idiopathic arthritis among others.
AbbVie is working on expanding Humira's label further. The company is evaluating Humira for the treatment of non-infectious uveitis (phase III). Additionally, the company has initiated a pivotal phase III study that will evaluate the use of Humira for fingernail psoriasis in patients with moderate-to-severe chronic plaque psoriasis.
AbbVie carries a Zacks Rank #3 (Hold). Stocks like Allergan ( AGN ), Gilead Sciences ( GILD ) and Alexion Pharmaceuticals ( ALXN ) are better ranked in the health care space. While Allergan and Gilead are Zacks Rank #1 (Strong Buy) stocks, Alexion holds a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc. ( ABBV ) announced that its drug, Humira, has received orphan drug designation from the U.S. Food and Drug Administration (FDA) for the treatment of non-infectious intermediate, posterior, or pan-uveitis, or chronic non-infectious anterior uveitis (rare but serious inflammatory diseases of the eye). We note that Humira is the key growth driver at AbbVie. AbbVie is working on expanding Humira's label further. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ALEXION PHARMA (ALXN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc. ( ABBV ) announced that its drug, Humira, has received orphan drug designation from the U.S. Food and Drug Administration (FDA) for the treatment of non-infectious intermediate, posterior, or pan-uveitis, or chronic non-infectious anterior uveitis (rare but serious inflammatory diseases of the eye). We note that Humira is the key growth driver at AbbVie. | AbbVie Inc. ( ABBV ) announced that its drug, Humira, has received orphan drug designation from the U.S. Food and Drug Administration (FDA) for the treatment of non-infectious intermediate, posterior, or pan-uveitis, or chronic non-infectious anterior uveitis (rare but serious inflammatory diseases of the eye). Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ALEXION PHARMA (ALXN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report To read this article on Zacks.com click here. We note that Humira is the key growth driver at AbbVie. | AbbVie Inc. ( ABBV ) announced that its drug, Humira, has received orphan drug designation from the U.S. Food and Drug Administration (FDA) for the treatment of non-infectious intermediate, posterior, or pan-uveitis, or chronic non-infectious anterior uveitis (rare but serious inflammatory diseases of the eye). We note that Humira is the key growth driver at AbbVie. AbbVie is working on expanding Humira's label further. |
27486.0 | 2014-05-20 00:00:00 UTC | FDA Designation for Bristol-Myers/AbbVie Candidate - Analyst Blog | ABBV | https://www.nasdaq.com/articles/fda-designation-for-bristol-myers-abbvie-candidate-analyst-blog-2014-05-20 | nan | nan | Bristol-Myers Squibb ( BMY ) and partner AbbVie ( ABBV ) announced that the U.S. Food and Drug Administration (FDA) has granted breakthrough therapy designation to their oncology candidate, elotuzumab.
Bristol-Myers and AbbVie are developing elotuzumab for the treatment of patients suffering from multiple myeloma (MM). The breakthrough therapy designation has been granted to the candidate in combination with Celgene 's ( CELG ) Revlimid and low-dose dexamethasone for treating MM patients who have received one or more prior therapies for MM (relapsed or refractory MM).
The FDA granted the designation on the basis of data from a phase II study that evaluated the cocktail therapy across 2 doses (10 mg/kg and 20 mg/kg) in previously-treated patients. The combination is currently being evaluated in two phase III studies (ELOQUENT-1 and ELOQUENT-2) at the 10 mg/kg dose. While the ELOQUENT-1 study is evaluating the combination as a first-line therapy for MM, ELOQUENT-2 is assessing the same in the relapsed or refractory MM setting.
Bristol-Myers and AbbVie are also studying elotuzumab in a phase II study in combination with Velcade in patients suffering from relapsed or refractory MM.
The designation, which was enacted as part of the 2012 Food and Drug Administration Safety and Innovation Act, is granted to potential new treatments for serious or life-threatening diseases. The designation should help fasten the development and review process for the candidate. The MM market, with a significant unmet medical need, offers significant commercial potential.
Earlier in the month, the FDA assigned a similar designation to another promising oncology candidate, nivolumab, at Bristol-Myers. The designation was granted for the hodgkin lymphoma indication.
Both Bristol-Myers and AbbVie carry a Zacks Rank #3 (Hold). Allergan ( AGN ) is a better-ranked stock in the healthcare space with a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Bristol-Myers Squibb ( BMY ) and partner AbbVie ( ABBV ) announced that the U.S. Food and Drug Administration (FDA) has granted breakthrough therapy designation to their oncology candidate, elotuzumab. Bristol-Myers and AbbVie are developing elotuzumab for the treatment of patients suffering from multiple myeloma (MM). Bristol-Myers and AbbVie are also studying elotuzumab in a phase II study in combination with Velcade in patients suffering from relapsed or refractory MM. | Bristol-Myers Squibb ( BMY ) and partner AbbVie ( ABBV ) announced that the U.S. Food and Drug Administration (FDA) has granted breakthrough therapy designation to their oncology candidate, elotuzumab. Bristol-Myers and AbbVie are also studying elotuzumab in a phase II study in combination with Velcade in patients suffering from relapsed or refractory MM. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report To read this article on Zacks.com click here. | Bristol-Myers and AbbVie are also studying elotuzumab in a phase II study in combination with Velcade in patients suffering from relapsed or refractory MM. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report BRISTOL-MYERS (BMY): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report To read this article on Zacks.com click here. Bristol-Myers Squibb ( BMY ) and partner AbbVie ( ABBV ) announced that the U.S. Food and Drug Administration (FDA) has granted breakthrough therapy designation to their oncology candidate, elotuzumab. | Bristol-Myers Squibb ( BMY ) and partner AbbVie ( ABBV ) announced that the U.S. Food and Drug Administration (FDA) has granted breakthrough therapy designation to their oncology candidate, elotuzumab. Bristol-Myers and AbbVie are developing elotuzumab for the treatment of patients suffering from multiple myeloma (MM). Bristol-Myers and AbbVie are also studying elotuzumab in a phase II study in combination with Velcade in patients suffering from relapsed or refractory MM. |
27487.0 | 2014-05-19 00:00:00 UTC | Abbott to Buy CFR Pharma - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbott-to-buy-cfr-pharma-analyst-blog-2014-05-19 | nan | nan | In a move to broaden its presence in the Latin American market, Abbott Labs ( ABT ) announced that it has entered into a definitive agreement to acquire Latin American pharmaceutical company, CFR Pharmaceuticals.
As per the terms of the agreement, Abbott Labs will acquire the holding company that owns a 73% stake in CFR Pharmaceuticals. Abbott Labs will also conduct a public cash tender offer for all of the outstanding shares of CFR Pharmaceuticals following necessary regulatory approvals.
The total purchase price comes to approximately $2.9 billion assuming all publicly-held shares are tendered to the offer along with the assumption of net debt of approximately $430 million.
The transaction is expected to close by the third quarter of 2014. The acquisition is expected to add approximately $900 million to Abbott Labs' top line in the first full year post acquisition (2015).
Thereafter, Abbott Labs expects double-digit sales growth over the next several years.
The transaction is also expected to be accretive to bottom line in 2015.
Headquartered in Chile, CFR Pharmaceuticals has a comprehensive product portfolio with operations in 15 Latin American markets. The acquisition is expected to be complementary to Abbott Labs' current pharmaceutical therapeutic areas of focus including women's health, central nervous system, cardiovascular and respiratory diseases.
Our Take
Abbott Labs currently carries a Zacks Rank #3 (Hold). Emerging markets are key focus areas for Abbott Labs. The CFR Pharmaceuticals acquisition will double Abbott Labs' branded generics pharmaceutical sales and presence in one of the fast growing markets. As per IMS forecasts, the Latin American pharmaceutical market will grow to $73 billion in 2014 and jump to $124 billion by 2018. Annual growth rates in these markets are expected to be two to three times that of developed markets over the coming years.
We remind investors that Abbott Labs became a diversified medical products company focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . ( ABBV ), in Jan 2013.
The business environment was challenging in 2013 due to austerity measures undertaken by developed markets.
Hence, Abbott Labs' efforts to broaden its presence in the emerging markets will help the company to combat the challenging business environment elsewhere in the world and maintain top-line growth.
Some better-ranked stocks in the broader healthcare sector include Allergan ( AGN ) and Shire ( SHPG ). While Allergan is a rank #1 (Strong Buy), Shire is a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | We remind investors that Abbott Labs became a diversified medical products company focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . ( ABBV ), in Jan 2013. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report To read this article on Zacks.com click here. | We remind investors that Abbott Labs became a diversified medical products company focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report To read this article on Zacks.com click here. ( ABBV ), in Jan 2013. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report To read this article on Zacks.com click here. We remind investors that Abbott Labs became a diversified medical products company focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . ( ABBV ), in Jan 2013. | We remind investors that Abbott Labs became a diversified medical products company focusing on branded generic pharmaceutical, medical devices, diagnostic and nutritional businesses following the separation of its research-based pharmaceuticals business into a new company, AbbVie Inc . ( ABBV ), in Jan 2013. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report SHIRE PLC-ADR (SHPG): Free Stock Analysis Report To read this article on Zacks.com click here. |
27488.0 | 2014-05-13 00:00:00 UTC | Abbott May Be Looking To Divest Part Of Generic Drug Business | ABBV | https://www.nasdaq.com/articles/abbott-may-be-looking-divest-part-generic-drug-business-2014-05-13 | nan | nan | Abbott Laboratories ( ABT ) is reportedly considering divesting a significant part of its generic drug business, according to a recent Reuters report. The report also suggests that the healthcare major is working with Morgan Stanley to find a buyer for the business. Abbott joins the ranks of competitors such as Pfizer, GlaxoSmithKline, Sanofi and Merck, who may also be looking to divest their portfolios of generic (or 'mature') medicines.
Generic drugs are part of Abbott's Established Pharmaceutical division, which generated sales of about $5 billion in 2013. The division's sales have seen a low-to-mid single-digit decline in the last few years, owing to pricing pressures in developed markets such as Europe and Japan. By divesting a part of its business, the company could be looking to exit from the low-margin, low-growth generic drug market in developed regions to focus on the high-growth opportunity in emerging markets such as India and China. According to some sources privy to the matter, Abbott could be looking to divest about 40% of its Established Pharmaceutical businesses for more than $5 billion. The business under review for sale generated about $2 billion in revenue in 2013.
We have a price estimate of $40 for Abbott Labs , which is slightly above the current market price.
See our full analysis for Abbott Labs
Why Is Abbott Looking To Divest?
The most likely reason for Abbott to weigh the sale of a big chunk of its generic drug division could be to streamline its business and focus on higher-growth areas. Sales from the Established Pharmaceutical division have dipped in the last two years due to competitive pressures and unfavorable macroeconomic conditions in some developed markets, partially offset by strong sales in emerging markets. Operational sales in the company's 14 key emerging markets, which include Brazil, China, Russia and India, increased 6.3% in 2013 and 12.8% in 2012. In contrast, Abbott's generic drug sales in developed markets and other regions (excluding key emerging markets) declined 4% in 2013 and 5.6% in 2012.
We believe that Abbott is likely looking to divest its Established Pharma business in developed markets only, where the company has struggled to grow. In its 2013 annual report, the company reported that emerging markets accounted for about 50% of its overall sales, and this proportion is expected to increase to about 60% in the coming years. The sale of its branded generic dug business in developed markets could be a step in this direction.
Abbott spun its proprietary pharmaceutical business as Abbvie Inc. ( ABBV ) in 2013 but retained its portfolio of branded generic medicines. This portfolio currently comprises of well-known drugs such as Creon, Biaxin, Klacid, Klaricid, Influvac, Serc, Brufen, Synthroid, Duspatal, Dicetel, and Duphaston.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott spun its proprietary pharmaceutical business as Abbvie Inc. ( ABBV ) in 2013 but retained its portfolio of branded generic medicines. The division's sales have seen a low-to-mid single-digit decline in the last few years, owing to pricing pressures in developed markets such as Europe and Japan. The most likely reason for Abbott to weigh the sale of a big chunk of its generic drug division could be to streamline its business and focus on higher-growth areas. | Abbott spun its proprietary pharmaceutical business as Abbvie Inc. ( ABBV ) in 2013 but retained its portfolio of branded generic medicines. Generic drugs are part of Abbott's Established Pharmaceutical division, which generated sales of about $5 billion in 2013. In contrast, Abbott's generic drug sales in developed markets and other regions (excluding key emerging markets) declined 4% in 2013 and 5.6% in 2012. | Abbott spun its proprietary pharmaceutical business as Abbvie Inc. ( ABBV ) in 2013 but retained its portfolio of branded generic medicines. By divesting a part of its business, the company could be looking to exit from the low-margin, low-growth generic drug market in developed regions to focus on the high-growth opportunity in emerging markets such as India and China. Sales from the Established Pharmaceutical division have dipped in the last two years due to competitive pressures and unfavorable macroeconomic conditions in some developed markets, partially offset by strong sales in emerging markets. | Abbott spun its proprietary pharmaceutical business as Abbvie Inc. ( ABBV ) in 2013 but retained its portfolio of branded generic medicines. Generic drugs are part of Abbott's Established Pharmaceutical division, which generated sales of about $5 billion in 2013. By divesting a part of its business, the company could be looking to exit from the low-margin, low-growth generic drug market in developed regions to focus on the high-growth opportunity in emerging markets such as India and China. |
27489.0 | 2014-05-07 00:00:00 UTC | IYH, GILD, BMY, ABBV: ETF Outflow Alert | ABBV | https://www.nasdaq.com/articles/iyh-gild-bmy-abbv-etf-outflow-alert-2014-05-07 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares U.S. Healthcare ETF (Symbol: IYH) where we have detected an approximate $24.2 million dollar outflow -- that's a 0.9% decrease week over week (from 22,350,000 to 22,150,000). Among the largest underlying components of IYH, in trading today Gilead Sciences, Inc. (Symbol: GILD) is down about 1.4%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 1.4%, and AbbVie Inc. (Symbol: ABBV) is up by about 1.4%. The chart below shows the one year price performance of IYH, versus its 200 day moving average:
Looking at the chart above, IYH's low point in its 52 week range is $98.00 per share, with $127.63 as the 52 week high point - that compares with a last trade of $120.06. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average » .
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IYH, in trading today Gilead Sciences, Inc. (Symbol: GILD) is down about 1.4%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 1.4%, and AbbVie Inc. (Symbol: ABBV) is up by about 1.4%. The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $98.00 per share, with $127.63 as the 52 week high point - that compares with a last trade of $120.06. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of IYH, in trading today Gilead Sciences, Inc. (Symbol: GILD) is down about 1.4%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 1.4%, and AbbVie Inc. (Symbol: ABBV) is up by about 1.4%. The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $98.00 per share, with $127.63 as the 52 week high point - that compares with a last trade of $120.06. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of IYH, in trading today Gilead Sciences, Inc. (Symbol: GILD) is down about 1.4%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 1.4%, and AbbVie Inc. (Symbol: ABBV) is up by about 1.4%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares U.S. Healthcare ETF (Symbol: IYH) where we have detected an approximate $24.2 million dollar outflow -- that's a 0.9% decrease week over week (from 22,350,000 to 22,150,000). The chart below shows the one year price performance of IYH, versus its 200 day moving average: Looking at the chart above, IYH's low point in its 52 week range is $98.00 per share, with $127.63 as the 52 week high point - that compares with a last trade of $120.06. | Among the largest underlying components of IYH, in trading today Gilead Sciences, Inc. (Symbol: GILD) is down about 1.4%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 1.4%, and AbbVie Inc. (Symbol: ABBV) is up by about 1.4%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the iShares U.S. Healthcare ETF (Symbol: IYH) where we have detected an approximate $24.2 million dollar outflow -- that's a 0.9% decrease week over week (from 22,350,000 to 22,150,000). Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. |
27490.0 | 2014-05-01 00:00:00 UTC | MedTech's Partial Tax Repeal: Is It Enough? - Industry Outlook | ABBV | https://www.nasdaq.com/articles/medtechs-partial-tax-repeal%3A-is-it-enough-industry-outlook-2014-05-01 | nan | nan | The medical devices industry, which was once acclaimed for its high-paying jobs and research and development opportunities, has been subject to the much controversial 2.3% medical device excise tax since its enactment in the beginning of 2013. Sequestration-related spending cuts to the U.S. federal budget have also undermined the medical devices industry's prospects. In fact, this has significantly restricted the industry's bottom-line improvement in the past year.
Partial Repeal: A Boon?
However, as a slight respite, in Jan 2014, the National Institutes of Health (NIH) got a $1 billion or 3.5% boost to its fiscal 2014 budget from the prior-year post-sequestration budget (according to fiscal 2014 Omnibus Appropriations bill, released on Jan 13, 2014). According to a statement by appropriators, this hike, although insignificant, is expected to result in 385 million new grant opportunities for researchers compared to 2013. We note that the sequestration, which resulted in a 5.5% cut in the NIH fiscal 2013 budget, resulted in 640 fewer grants in 2013.
Apart from NIH, the National Institutes of Standards and Technology, The National Science Foundation (NSF), health professions and nursing workforce development programs are some of the others to gain from this bill.
The U.S. Food and Drug Administration (FDA) has also managed to get $2.552 billion through this omnibus spending package, a $166 million (7%) increase over the fiscal 2013 post-sequestration funding level. The Centers for Disease Control and Prevention (CDC) received a $370 million or 6.8% increase over the year-ago post-sequestration funding level.
Situation Remains Bleak
Even more than three months after the Senate passed the Omnibus Appropriations bill, the research funding scenario continues to look bleak. Most economists are of the opinion that with cost of research rising astronomically, this nominal revision can hardly bring any reprieve. While the additional funding for NIH will help sustain current projects and begin funding for new research grants, this is still $714 million short of NIH's pre-sequestration budget.
Further, things are not at all cheery for the Centers for Medicare and Medicaid Services (CMS). While the bill included $3.7 billion for the CMS, this was $195 million less than what was enacted in the previous fiscal.
Unless totally repealed or replaced, these spending cuts will last through 2021. NIH expects sequestration to turn graver in the coming years leading to serious consequences like delaying progress in medical breakthroughs, deterioration in job creation and tempering of economic growth. An NBC news article recently noted that many new researchers, who were trained with the U.S. taxpayers' money, may have to move to Europe and Asia where government funding for medical research is on the rise.
Moreover, the medical device excise tax is taking a heavy toll on the MedTech sector, hurting pricing decisions of companies and subjecting them to tremendous margin pressure. The 2.3% excise tax (effective Jan 2013), which is imposed on the sales price instead of net profit, amounts to a sizable sum, wiping out almost a quarter of the profit at the med instrument owners.
The big players are trying out ways to change their business model and cost structure to accommodate the excise tax. These companies are undertaking various restructuring initiatives to counter costs incurred from the implementation of the new tax. Restructuring especially to offset the effect of the excise tax has already been adopted by several key players. The companies are also trying to focus on strategic mergers and acquisitions (M&A), emerging market expansion or are reducing operations in order to weather the tax burden.
M&A Activities
MedTech M&A continues unabated in 2014. Wary of an uncertain economy, MedTech giants have resorted to the acquisition route to harness their strengths and diversify offerings.
The first quarter earnings season in the medical device sector kicked off with such a mega acquisition announcement. Last week, on itsearnings call Zimmer Holdings ( ZMH ) disclosed that it has entered into a definitive agreement to acquire Biomet, Inc. -- a provider of surgical and non-surgical products -- for a transaction value of $13.35 billion. According to Zimmer, with the successful completion of this acquisition, it will be better able to capture the $45 billion musculoskeletal industry.
Another noteworthy move in recent times is the colossal $13.6 billion takeover of Life Technologies Corporation by its major peer Thermo Fisher Scientific ( TMO ) which closed in February. In the same month, artificial knee and hip maker Smith & Nephew plc ( SNN ), entered into an agreement to buy Arthrocare Corporation ( ARTC ) for $1.7 billion in order to expand its product line in sports medicines.
Global orthopedic device makers, Stryker Corporation ( SYK ) and Wright Medical Group, Inc. ( WMGI ) are also resorting to inorganic means to expand their businesses. In April, Stryker acquired German surgical tools firm, Berchtold Holding. In March, it acquired U.S.-based developer of hip arthroscopy products, Pivot Medical. In December last year, Stryker was in the headlines with its $1.65 billion acquisition of robotic assisted surgery developer, MAKO Surgical Corp.
Wright Medical to expand in the fast growing extremities market, announced a couple of acquisitions: Solana Surgical and OrthoPro. Earlier in November, Wright Medical completing the acquisition of French orthopedic extremities company Biotech International.
Some other significant newest buyouts include Covidien plc's ( COV ) $860 million acquisition of Israel-based diagnostic products maker Given Imaging (in February) and Quest Diagnostics' ( DGX ) takeover of Solstas Lab Partners Group and its subsidiaries for approximately $570 million (Mar 2014). Besides, to expand its dental business in Europe, in February, Henry Schein, Inc. ( HSIC ) acquired five companies from a Dutch company, Arseus NV.
There have been many more M&As in the MedTech space. Boston Scientific Corporation ( BSX ) closed the acquisition of Bard EP, the electrophysiology business of C.R. Bard, Inc. ( BCR ). Earlier in September, Baxter International ( BAX ) closed its $3.9 billion deal to acquire Gambro AB, a Sweden-based renal products company.
In the light of the discussion above, we see no slowing down of M&A deals in the MedTech space in rest of 2014. We also expect a significant pickup in in-licensing activities and collaborations for the development of pipeline candidates.
Divestments
With the medical device excise tax in force, leading to further contraction in profit margins, we have been observing a lot of divestments of late, particularly of non-core business segments. Divestments, specifically to offset the tax, have been announced by many key players. We expect this trend to continue in the rest of 2014.
MedTech giant Johnson & Johnson ( JNJ ), after its $1 billion acquisition of privately-held, pharmaceutical discovery and development company, Aragon Pharmaceuticals, Inc, in Apr 2014 announced its decision to sell off its Ortho-Clinical Diagnostics business to The Carlyle Group ( CG ) for about $4 billion. The divestment, which is expected to go through in mid-2014, will help the company increase its focus on the core pharma business.
Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses.
In January, Wright Medical exited the hip and knee implant market with the $290 million divestment of its OrthoRecon business to MicroPort Scientific Corporation and its affiliates. In January again, Covidien sold off its Confluent Surgical product line for approximately $235 million.
Novartis ( NVS ) has also entered into a definitive agreement to divest its blood transfusion diagnostics unit to Spain-based Grifols for $1.675 billion. Kimberly-Clark Corporation ( KMB ) on the other hand is working on a potential tax-free spin-off of the company's health care business. In November last year, Quest Diagnostics divested its Enterix colorectal cancer screening test business.
Emerging Markets
Although the U.S. still holds the leading position with almost one-third ofglobal marketshare, a gradual slowdown in established markets due to a number of lingering headwinds are forcing MedTech companies to look for opportunities in the developing world. Currently, with the growth rate remaining in low single digits in developed markets like the U.S., Europe and Japan, large-cap medical device makers are looking to invest more in the high-growth emerging regions.
Accordingly, emerging economies like Brazil, Russia, India and China (BRICs) as well as Turkey, Mexico, Malaysia, South Africa, South Korea and the Czech Republic are fast coming up in the medical devices space. These emerging economies are seeing an increasing uptake in medical devices largely due to growing medical awareness and economic prosperity.
An aging population, increasing wealth, government focus on healthcare infrastructure and expansion of medical insurance coverage make these markets a happy hunting ground for global medical device players. Expansion in emerging markets, especially those with double-digit annual growth rates, represents one of the best potential avenues for growth in 2014 and beyond.
Among the BRIC members, Brazil is currently the largest healthcare market in Latin America, covering almost one-fourth of the population. Though India has one of the largest and fastest growing healthcare markets in the world, it is considered to have the least developed healthcare infrastructure and spends relatively little in this area. In order to reverse the trend, during the 12th Plan (2012-2017), the Indian government planned to spend 2.5% of its GDP (up from 1.2% earlier) on health care and raise it to at least 3% by 2022.
Accordingly, big players in the MedTech sector are vying to expand their presence in BRIC and other emerging markets. These companies are also looking to establish their manufacturing facilities abroad.
Abbott continues to lead the trend with about 40% of sales coming in from the emerging markets. The company expects this contribution to increase to 50% by 2015. Johnson & Johnson showed 13% growth in the BRIC nations during the first quarter of 2014 and is currently working to increase its presence in these regions.
The company has already set up manufacturing and R&D centers in Brazil, China and India and expects to expand further in China on the back of the Synthes acquisition.
Becton, Dickinson and Company ( BDX ), with about 58% of revenues from international markets, witnessed double-digit sales growth in emerging geographies during the first quarter with China growing over 25% at constant exchange rate (CER). For Medtronic, emerging market grew a robust 12% (at CER) in its third quarter fiscal 2014, representing more than 13% of the company's total sales mix. Management is targeting 20% of its revenues from emerging markets, adding incremental revenues of $2.5 billion over the long term with mid-teens growth for the current fiscal.
Against the backdrop of flattening or declining sales growth in developed markets, Boston Scientific achieved 8% international growth in the first quarter of 2014 on the back of 22% growth in emerging markets, which represented 9% of total company sales.
Stryker, with 7% sales coming from emerging markets in the first quarter of 2014, is expected to grow market share further in key geographies like China and India. Orthopedic major, Smith & Nephew, continued to gain double-digit sales growth in emerging markets.
Thermo Fisher is also expanding its presence in emerging markets. It expects to garner 25% of total revenues from the high-growth Asia-Pacific region and emerging markets by 2016, up from 19% in 2011. According to the company, China with its rapid industrialization, increasing focus on healthcare, new BioPharma R&D centers and government sponsored research has robust growth potential.
Zacks Industry Rank
Within the Zacks Industry classification, MedTech is broadly grouped into the Medical sector (one of 16 Zacks sectors) and further sub-divided into four industries at the expanded level: med instruments, med products, med/dental-supp and medical info systems.
We rank all the 260-plus industries in the 16 Zacks sectors based on the earnings outlook and fundamental strength of the constituent companies in each industry. To learn more visit: About Zacks Industry Rank .
As a guideline, the outlook for industries with Zacks Industry Rank of #88 and lower is 'Positive,' between #89 and #176 is 'Neutral' and #177 and higher is 'Negative.'
The Zacks Industry Rank for med instruments is #101, med products is #161, med/dental-supp is #164, while the medical info systems is #216. Analyzing the Zacks Industry Rank for different MedTech segments, it is obvious that while the outlook for medical info systems stocks is negative, that for med instruments, med products and med/dental-supp is neutral.
Earnings Trend of the Sector
So far, 41.2% of the Medical sector participants have reported first quarter results which have been fairly good with respect to beat ratios (percentage of companies coming out with positive surprises). We note that the results were not impressive in terms of year-over-year growth.
The earnings "beat ratio" was 76.2%, while the revenue "beat ratio" was 38.1% in the first quarter. Total earnings for the companies in this sector increased a strong 15.2% year over year on revenue growth of 16.2%. In fact, earnings and revenues showed a massive improvement from the fourth quarter 2013 performance.
The earnings is expected to increase by 3.1% in the second quarter 2014. The sector is expected to register an impressive growth of 8.1% for the full-year 2014 and 16.2% in the full-year 2015. In terms of revenue expectation, the sector is expected to register 7.3% year-over-year growth in the second quarter of the year, resulting in an annual growth rate of 7.4%.
For more information about earnings for this sector and others, please read our 'Earnings Trends' report .
OPPORTUNITIES
In spite of several core market challenges, the big three medical device players -- Medtronic, Boston Scientific and St. Jude Medical, Inc. ( STJ ) -- are striving to gain share in the ICD market through new product launches. With gradual stability in the ICD market, these players should be able to revive their top line. In the first quarter of 2014, St. Jude Medical's ICD revenues increased 2.1% (3% in constant-currency).
Although Boston Scientific posted another quarter of weak ICD sales with 3.1% year-over-year decline, it is taking several initiatives to revive its top line. We also wait for a better-than-expected ICD performance from Medtronic which is slated to report its fourth quarter and fiscal 2014 results on May 20.
The Cooper Companies Inc. ( COO ) holding a Zacks Rank #2 (Buy) represents a value proposition based on factors such as margin expansion, acquisitions, product line expansion and geographical reach as well as share buybacks. Johnson & Johnson holding a Zacks Rank #2 has been trying to offset the declining sales of some of its important products by bringing in new products through in-licensing deals and acquisitions.
Beyond the MedTech majors, we are also optimistic about the Zacks Ranked #3 orthopedic device players, Zimmer Holdings and Stryker Corporation. The percentage of population over 65 in the U.S., Europe, Japan and other regions is expected to nearly double by the year 2030. We believe the orthopedic giants stand to benefit from this aging demography.
Among scientific instrument makers, Thermo Fisher Scientific has been successfully expanding operating margins over the past few quarters on the back of operational efficiency. Apart from the newest incorporated segment Life Sciences Solution segment with the buyout of Life Technologies, Thermo Fisher's market leading portfolio of analytical technologies demonstrated strong performance with growth in the Life Sciences Mass Spec and Chromatography businesses.
Among other MedTech stocks, Mead Johnson Nutrition Company ( MJN ), Covance Inc. ( CVD ), Cardinal Health, Inc. ( CAH ), Illumina Inc. ( ILMN ) and Hologic Inc. ( HOLX ) carrying a Zacks Rank #2 (Buy) also look attractive.
CHALLENGES AND WEAKNESSES
Coming to the weakest link in the MedTech sector, we advise investors against names that offer little growth/opportunity over the near term. These include companies for which estimate revision trends for 2014 reflect a bearish sentiment.
Stocks which do not look inspiring are Intuitive Surgical ( ISRG ) sporting a Zacks Rank #5 (Strong Sell), Wright Medical, Volcano Corporation ( VOLC ), CareFusion Corporation ( CFN ), Haemonetics Corporation ( HAE ), Patterson Companies, Inc. ( PDCO ) and DENTSPLY International Inc. ( XRAY ), all carrying the Zacks Rank #4 (Sell).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ARTHROCARE CORP (ARTC): Free Stock Analysis Report BAXTER INTL (BAX): Free Stock Analysis Report BARD C R INC (BCR): Free Stock Analysis Report BECTON DICKINSO (BDX): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report CAREFUSION CORP (CFN): Free Stock Analysis Report CARLYLE GROUP (CG): Free Stock Analysis Report COOPER COS (COO): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report COVANCE INC (CVD): Free Stock Analysis Report QUEST DIAGNOSTC (DGX): Free Stock Analysis Report HAEMONETICS CP (HAE): Free Stock Analysis Report HOLOGIC INC (HOLX): Free Stock Analysis Report HENRY SCHEIN IN (HSIC): Free Stock Analysis Report ILLUMINA INC (ILMN): Free Stock Analysis Report INTUITIVE SURG (ISRG): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report MEAD JOHNSON NU (MJN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report PATTERSON COS (PDCO): Free Stock Analysis Report SMITH & NEPHEW (SNN): Free Stock Analysis Report ST JUDE MEDICAL (STJ): Free Stock Analysis Report STRYKER CORP (SYK): Free Stock Analysis Report THERMO FISHER (TMO): Free Stock Analysis Report VOLCANO CORP (VOLC): Free Stock Analysis Report WRIGHT MEDICAL (WMGI): Free Stock Analysis Report DENTSPLY INTL (XRAY): Free Stock Analysis Report ZIMMER HOLDINGS (ZMH): Free Stock Analysis Report To read this article on Zacks.com click here. In the same month, artificial knee and hip maker Smith & Nephew plc ( SNN ), entered into an agreement to buy Arthrocare Corporation ( ARTC ) for $1.7 billion in order to expand its product line in sports medicines. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ARTHROCARE CORP (ARTC): Free Stock Analysis Report BAXTER INTL (BAX): Free Stock Analysis Report BARD C R INC (BCR): Free Stock Analysis Report BECTON DICKINSO (BDX): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report CAREFUSION CORP (CFN): Free Stock Analysis Report CARLYLE GROUP (CG): Free Stock Analysis Report COOPER COS (COO): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report COVANCE INC (CVD): Free Stock Analysis Report QUEST DIAGNOSTC (DGX): Free Stock Analysis Report HAEMONETICS CP (HAE): Free Stock Analysis Report HOLOGIC INC (HOLX): Free Stock Analysis Report HENRY SCHEIN IN (HSIC): Free Stock Analysis Report ILLUMINA INC (ILMN): Free Stock Analysis Report INTUITIVE SURG (ISRG): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report MEAD JOHNSON NU (MJN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report PATTERSON COS (PDCO): Free Stock Analysis Report SMITH & NEPHEW (SNN): Free Stock Analysis Report ST JUDE MEDICAL (STJ): Free Stock Analysis Report STRYKER CORP (SYK): Free Stock Analysis Report THERMO FISHER (TMO): Free Stock Analysis Report VOLCANO CORP (VOLC): Free Stock Analysis Report WRIGHT MEDICAL (WMGI): Free Stock Analysis Report DENTSPLY INTL (XRAY): Free Stock Analysis Report ZIMMER HOLDINGS (ZMH): Free Stock Analysis Report To read this article on Zacks.com click here. Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses. Among other MedTech stocks, Mead Johnson Nutrition Company ( MJN ), Covance Inc. ( CVD ), Cardinal Health, Inc. ( CAH ), Illumina Inc. ( ILMN ) and Hologic Inc. ( HOLX ) carrying a Zacks Rank #2 (Buy) also look attractive. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ARTHROCARE CORP (ARTC): Free Stock Analysis Report BAXTER INTL (BAX): Free Stock Analysis Report BARD C R INC (BCR): Free Stock Analysis Report BECTON DICKINSO (BDX): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report CAREFUSION CORP (CFN): Free Stock Analysis Report CARLYLE GROUP (CG): Free Stock Analysis Report COOPER COS (COO): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report COVANCE INC (CVD): Free Stock Analysis Report QUEST DIAGNOSTC (DGX): Free Stock Analysis Report HAEMONETICS CP (HAE): Free Stock Analysis Report HOLOGIC INC (HOLX): Free Stock Analysis Report HENRY SCHEIN IN (HSIC): Free Stock Analysis Report ILLUMINA INC (ILMN): Free Stock Analysis Report INTUITIVE SURG (ISRG): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report MEAD JOHNSON NU (MJN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report PATTERSON COS (PDCO): Free Stock Analysis Report SMITH & NEPHEW (SNN): Free Stock Analysis Report ST JUDE MEDICAL (STJ): Free Stock Analysis Report STRYKER CORP (SYK): Free Stock Analysis Report THERMO FISHER (TMO): Free Stock Analysis Report VOLCANO CORP (VOLC): Free Stock Analysis Report WRIGHT MEDICAL (WMGI): Free Stock Analysis Report DENTSPLY INTL (XRAY): Free Stock Analysis Report ZIMMER HOLDINGS (ZMH): Free Stock Analysis Report To read this article on Zacks.com click here. Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses. Against the backdrop of flattening or declining sales growth in developed markets, Boston Scientific achieved 8% international growth in the first quarter of 2014 on the back of 22% growth in emerging markets, which represented 9% of total company sales. | Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ARTHROCARE CORP (ARTC): Free Stock Analysis Report BAXTER INTL (BAX): Free Stock Analysis Report BARD C R INC (BCR): Free Stock Analysis Report BECTON DICKINSO (BDX): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report CAREFUSION CORP (CFN): Free Stock Analysis Report CARLYLE GROUP (CG): Free Stock Analysis Report COOPER COS (COO): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report COVANCE INC (CVD): Free Stock Analysis Report QUEST DIAGNOSTC (DGX): Free Stock Analysis Report HAEMONETICS CP (HAE): Free Stock Analysis Report HOLOGIC INC (HOLX): Free Stock Analysis Report HENRY SCHEIN IN (HSIC): Free Stock Analysis Report ILLUMINA INC (ILMN): Free Stock Analysis Report INTUITIVE SURG (ISRG): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report MEAD JOHNSON NU (MJN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report PATTERSON COS (PDCO): Free Stock Analysis Report SMITH & NEPHEW (SNN): Free Stock Analysis Report ST JUDE MEDICAL (STJ): Free Stock Analysis Report STRYKER CORP (SYK): Free Stock Analysis Report THERMO FISHER (TMO): Free Stock Analysis Report VOLCANO CORP (VOLC): Free Stock Analysis Report WRIGHT MEDICAL (WMGI): Free Stock Analysis Report DENTSPLY INTL (XRAY): Free Stock Analysis Report ZIMMER HOLDINGS (ZMH): Free Stock Analysis Report To read this article on Zacks.com click here. Total earnings for the companies in this sector increased a strong 15.2% year over year on revenue growth of 16.2%. |
27491.0 | 2014-05-01 00:00:00 UTC | MedTech's Partial Tax Repeal: Is It Enough? - Zacks Analyst Interviews | ABBV | https://www.nasdaq.com/articles/medtechs-partial-tax-repeal%3A-is-it-enough-zacks-analyst-interviews-2014-05-01 | nan | nan | The medical devices industry, which was once acclaimed for its high-paying jobs and research and development opportunities, has been subject to the much controversial 2.3% medical device excise tax since its enactment in the beginning of 2013. Sequestration-related spending cuts to the U.S. federal budget have also undermined the medical devices industry's prospects. In fact, this has significantly restricted the industry's bottom-line improvement in the past year.
Partial Repeal: A Boon?
However, as a slight respite, in Jan 2014, the National Institutes of Health (NIH) got a $1 billion or 3.5% boost to its fiscal 2014 budget from the prior-year post-sequestration budget (according to fiscal 2014 Omnibus Appropriations bill, released on Jan 13, 2014). According to a statement by appropriators, this hike, although insignificant, is expected to result in 385 million new grant opportunities for researchers compared to 2013. We note that the sequestration, which resulted in a 5.5% cut in the NIH fiscal 2013 budget, resulted in 640 fewer grants in 2013.
Apart from NIH, the National Institutes of Standards and Technology, The National Science Foundation (NSF), health professions and nursing workforce development programs are some of the others to gain from this bill.
The U.S. Food and Drug Administration (FDA) has also managed to get $2.552 billion through this omnibus spending package, a $166 million (7%) increase over the fiscal 2013 post-sequestration funding level. The Centers for Disease Control and Prevention (CDC) received a $370 million or 6.8% increase over the year-ago post-sequestration funding level.
Situation Remains Bleak
Even more than three months after the Senate passed the Omnibus Appropriations bill, the research funding scenario continues to look bleak. Most economists are of the opinion that with cost of research rising astronomically, this nominal revision can hardly bring any reprieve. While the additional funding for NIH will help sustain current projects and begin funding for new research grants, this is still $714 million short of NIH's pre-sequestration budget.
Further, things are not at all cheery for the Centers for Medicare and Medicaid Services (CMS). While the bill included $3.7 billion for the CMS, this was $195 million less than what was enacted in the previous fiscal.
Unless totally repealed or replaced, these spending cuts will last through 2021. NIH expects sequestration to turn graver in the coming years leading to serious consequences like delaying progress in medical breakthroughs, deterioration in job creation and tempering of economic growth. An NBC news article recently noted that many new researchers, who were trained with the U.S. taxpayers' money, may have to move to Europe and Asia where government funding for medical research is on the rise.
Moreover, the medical device excise tax is taking a heavy toll on the MedTech sector, hurting pricing decisions of companies and subjecting them to tremendous margin pressure. The 2.3% excise tax (effective Jan 2013), which is imposed on the sales price instead of net profit, amounts to a sizable sum, wiping out almost a quarter of the profit at the med instrument owners.
The big players are trying out ways to change their business model and cost structure to accommodate the excise tax. These companies are undertaking various restructuring initiatives to counter costs incurred from the implementation of the new tax. Restructuring especially to offset the effect of the excise tax has already been adopted by several key players. The companies are also trying to focus on strategic mergers and acquisitions (M&A), emerging market expansion or are reducing operations in order to weather the tax burden.
M&A Activities
MedTech M&A continues unabated in 2014. Wary of an uncertain economy, MedTech giants have resorted to the acquisition route to harness their strengths and diversify offerings.
The first quarter earnings season in the medical device sector kicked off with such a mega acquisition announcement. Last week, on itsearnings call Zimmer Holdings ( ZMH ) disclosed that it has entered into a definitive agreement to acquire Biomet, Inc. -- a provider of surgical and non-surgical products -- for a transaction value of $13.35 billion. According to Zimmer, with the successful completion of this acquisition, it will be better able to capture the $45 billion musculoskeletal industry.
Another noteworthy move in recent times is the colossal $13.6 billion takeover of Life Technologies Corporation by its major peer Thermo Fisher Scientific ( TMO ) which closed in February. In the same month, artificial knee and hip maker Smith & Nephew plc ( SNN ), entered into an agreement to buy Arthrocare Corporation ( ARTC ) for $1.7 billion in order to expand its product line in sports medicines.
Global orthopedic device makers, Stryker Corporation ( SYK ) and Wright Medical Group, Inc. ( WMGI ) are also resorting to inorganic means to expand their businesses. In April, Stryker acquired German surgical tools firm, Berchtold Holding. In March, it acquired U.S.-based developer of hip arthroscopy products, Pivot Medical. In December last year, Stryker was in the headlines with its $1.65 billion acquisition of robotic assisted surgery developer, MAKO Surgical Corp.
Wright Medical to expand in the fast growing extremities market, announced a couple of acquisitions: Solana Surgical and OrthoPro. Earlier in November, Wright Medical completing the acquisition of French orthopedic extremities company Biotech International.
Some other significant newest buyouts include Covidien plc's ( COV ) $860 million acquisition of Israel-based diagnostic products maker Given Imaging (in February) and Quest Diagnostics' ( DGX ) takeover of Solstas Lab Partners Group and its subsidiaries for approximately $570 million (Mar 2014). Besides, to expand its dental business in Europe, in February, Henry Schein, Inc. ( HSIC ) acquired five companies from a Dutch company, Arseus NV.
There have been many more M&As in the MedTech space. Boston Scientific Corporation ( BSX ) closed the acquisition of Bard EP, the electrophysiology business of C.R. Bard, Inc. ( BCR ). Earlier in September, Baxter International ( BAX ) closed its $3.9 billion deal to acquire Gambro AB, a Sweden-based renal products company.
In the light of the discussion above, we see no slowing down of M&A deals in the MedTech space in rest of 2014. We also expect a significant pickup in in-licensing activities and collaborations for the development of pipeline candidates.
Divestments
With the medical device excise tax in force, leading to further contraction in profit margins, we have been observing a lot of divestments of late, particularly of non-core business segments. Divestments, specifically to offset the tax, have been announced by many key players. We expect this trend to continue in the rest of 2014.
MedTech giant Johnson & Johnson ( JNJ ), after its $1 billion acquisition of privately-held, pharmaceutical discovery and development company, Aragon Pharmaceuticals, Inc, in Apr 2014 announced its decision to sell off its Ortho-Clinical Diagnostics business to The Carlyle Group ( CG ) for about $4 billion. The divestment, which is expected to go through in mid-2014, will help the company increase its focus on the core pharma business.
Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses.
In January, Wright Medical exited the hip and knee implant market with the $290 million divestment of its OrthoRecon business to MicroPort Scientific Corporation and its affiliates. In January again, Covidien sold off its Confluent Surgical product line for approximately $235 million.
Novartis ( NVS ) has also entered into a definitive agreement to divest its blood transfusion diagnostics unit to Spain-based Grifols for $1.675 billion. Kimberly-Clark Corporation ( KMB ) on the other hand is working on a potential tax-free spin-off of the company's health care business. In November last year, Quest Diagnostics divested its Enterix colorectal cancer screening test business.
Emerging Markets
Although the U.S. still holds the leading position with almost one-third ofglobal marketshare, a gradual slowdown in established markets due to a number of lingering headwinds are forcing MedTech companies to look for opportunities in the developing world. Currently, with the growth rate remaining in low single digits in developed markets like the U.S., Europe and Japan, large-cap medical device makers are looking to invest more in the high-growth emerging regions.
Accordingly, emerging economies like Brazil, Russia, India and China (BRICs) as well as Turkey, Mexico, Malaysia, South Africa, South Korea and the Czech Republic are fast coming up in the medical devices space. These emerging economies are seeing an increasing uptake in medical devices largely due to growing medical awareness and economic prosperity.
An aging population, increasing wealth, government focus on healthcare infrastructure and expansion of medical insurance coverage make these markets a happy hunting ground for global medical device players. Expansion in emerging markets, especially those with double-digit annual growth rates, represents one of the best potential avenues for growth in 2014 and beyond.
Among the BRIC members, Brazil is currently the largest healthcare market in Latin America, covering almost one-fourth of the population. Though India has one of the largest and fastest growing healthcare markets in the world, it is considered to have the least developed healthcare infrastructure and spends relatively little in this area. In order to reverse the trend, during the 12th Plan (2012-2017), the Indian government planned to spend 2.5% of its GDP (up from 1.2% earlier) on health care and raise it to at least 3% by 2022.
Accordingly, big players in the MedTech sector are vying to expand their presence in BRIC and other emerging markets. These companies are also looking to establish their manufacturing facilities abroad.
Abbott continues to lead the trend with about 40% of sales coming in from the emerging markets. The company expects this contribution to increase to 50% by 2015. Johnson & Johnson showed 13% growth in the BRIC nations during the first quarter of 2014 and is currently working to increase its presence in these regions.
The company has already set up manufacturing and R&D centers in Brazil, China and India and expects to expand further in China on the back of the Synthes acquisition.
Becton, Dickinson and Company ( BDX ), with about 58% of revenues from international markets, witnessed double-digit sales growth in emerging geographies during the first quarter with China growing over 25% at constant exchange rate (CER). For Medtronic, emerging market grew a robust 12% (at CER) in its third quarter fiscal 2014, representing more than 13% of the company's total sales mix. Management is targeting 20% of its revenues from emerging markets, adding incremental revenues of $2.5 billion over the long term with mid-teens growth for the current fiscal.
Against the backdrop of flattening or declining sales growth in developed markets, Boston Scientific achieved 8% international growth in the first quarter of 2014 on the back of 22% growth in emerging markets, which represented 9% of total company sales.
Stryker, with 7% sales coming from emerging markets in the first quarter of 2014, is expected to grow market share further in key geographies like China and India. Orthopedic major, Smith & Nephew, continued to gain double-digit sales growth in emerging markets.
Thermo Fisher is also expanding its presence in emerging markets. It expects to garner 25% of total revenues from the high-growth Asia-Pacific region and emerging markets by 2016, up from 19% in 2011. According to the company, China with its rapid industrialization, increasing focus on healthcare, new BioPharma R&D centers and government sponsored research has robust growth potential.
Zacks Industry Rank
Within the Zacks Industry classification, MedTech is broadly grouped into the Medical sector (one of 16 Zacks sectors) and further sub-divided into four industries at the expanded level: med instruments, med products, med/dental-supp and medical info systems.
We rank all the 260-plus industries in the 16 Zacks sectors based on the earnings outlook and fundamental strength of the constituent companies in each industry. To learn more visit: About Zacks Industry Rank .
As a guideline, the outlook for industries with Zacks Industry Rank of #88 and lower is 'Positive,' between #89 and #176 is 'Neutral' and #177 and higher is 'Negative.'
The Zacks Industry Rank for med instruments is #101, med products is #161, med/dental-supp is #164, while the medical info systems is #216. Analyzing the Zacks Industry Rank for different MedTech segments, it is obvious that while the outlook for medical info systems stocks is negative, that for med instruments, med products and med/dental-supp is neutral.
Earnings Trend of the Sector
So far, 41.2% of the Medical sector participants have reported first quarter results which have been fairly good with respect to beat ratios (percentage of companies coming out with positive surprises). We note that the results were not impressive in terms of year-over-year growth.
The earnings "beat ratio" was 76.2%, while the revenue "beat ratio" was 38.1% in the first quarter. Total earnings for the companies in this sector increased a strong 15.2% year over year on revenue growth of 16.2%. In fact, earnings and revenues showed a massive improvement from the fourth quarter 2013 performance.
The earnings is expected to increase by 3.1% in the second quarter 2014. The sector is expected to register an impressive growth of 8.1% for the full-year 2014 and 16.2% in the full-year 2015. In terms of revenue expectation, the sector is expected to register 7.3% year-over-year growth in the second quarter of the year, resulting in an annual growth rate of 7.4%.
For more information about earnings for this sector and others, please read our 'Earnings Trends' report .
OPPORTUNITIES
In spite of several core market challenges, the big three medical device players -- Medtronic, Boston Scientific and St. Jude Medical, Inc. ( STJ ) -- are striving to gain share in the ICD market through new product launches. With gradual stability in the ICD market, these players should be able to revive their top line. In the first quarter of 2014, St. Jude Medical's ICD revenues increased 2.1% (3% in constant-currency).
Although Boston Scientific posted another quarter of weak ICD sales with 3.1% year-over-year decline, it is taking several initiatives to revive its top line. We also wait for a better-than-expected ICD performance from Medtronic which is slated to report its fourth quarter and fiscal 2014 results on May 20.
The Cooper Companies Inc. ( COO ) holding a Zacks Rank #2 (Buy) represents a value proposition based on factors such as margin expansion, acquisitions, product line expansion and geographical reach as well as share buybacks. Johnson & Johnson holding a Zacks Rank #2 has been trying to offset the declining sales of some of its important products by bringing in new products through in-licensing deals and acquisitions.
Beyond the MedTech majors, we are also optimistic about the Zacks Ranked #3 orthopedic device players, Zimmer Holdings and Stryker Corporation. The percentage of population over 65 in the U.S., Europe, Japan and other regions is expected to nearly double by the year 2030. We believe the orthopedic giants stand to benefit from this aging demography.
Among scientific instrument makers, Thermo Fisher Scientific has been successfully expanding operating margins over the past few quarters on the back of operational efficiency. Apart from the newest incorporated segment Life Sciences Solution segment with the buyout of Life Technologies, Thermo Fisher's market leading portfolio of analytical technologies demonstrated strong performance with growth in the Life Sciences Mass Spec and Chromatography businesses.
Among other MedTech stocks, Mead Johnson Nutrition Company ( MJN ), Covance Inc. ( CVD ), Cardinal Health, Inc. ( CAH ), Illumina Inc. ( ILMN ) and Hologic Inc. ( HOLX ) carrying a Zacks Rank #2 (Buy) also look attractive.
CHALLENGES AND WEAKNESSES
Coming to the weakest link in the MedTech sector, we advise investors against names that offer little growth/opportunity over the near term. These include companies for which estimate revision trends for 2014 reflect a bearish sentiment.
Stocks which do not look inspiring are Intuitive Surgical ( ISRG ) sporting a Zacks Rank #5 (Strong Sell), Wright Medical, Volcano Corporation ( VOLC ), CareFusion Corporation ( CFN ), Haemonetics Corporation ( HAE ), Patterson Companies, Inc. ( PDCO ) and DENTSPLY International Inc. ( XRAY ), all carrying the Zacks Rank #4 (Sell).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ARTHROCARE CORP (ARTC): Free Stock Analysis Report BAXTER INTL (BAX): Free Stock Analysis Report BARD C R INC (BCR): Free Stock Analysis Report BECTON DICKINSO (BDX): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report CAREFUSION CORP (CFN): Free Stock Analysis Report CARLYLE GROUP (CG): Free Stock Analysis Report COOPER COS (COO): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report COVANCE INC (CVD): Free Stock Analysis Report QUEST DIAGNOSTC (DGX): Free Stock Analysis Report HAEMONETICS CP (HAE): Free Stock Analysis Report HOLOGIC INC (HOLX): Free Stock Analysis Report HENRY SCHEIN IN (HSIC): Free Stock Analysis Report ILLUMINA INC (ILMN): Free Stock Analysis Report INTUITIVE SURG (ISRG): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report MEAD JOHNSON NU (MJN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report PATTERSON COS (PDCO): Free Stock Analysis Report SMITH & NEPHEW (SNN): Free Stock Analysis Report ST JUDE MEDICAL (STJ): Free Stock Analysis Report STRYKER CORP (SYK): Free Stock Analysis Report THERMO FISHER (TMO): Free Stock Analysis Report VOLCANO CORP (VOLC): Free Stock Analysis Report WRIGHT MEDICAL (WMGI): Free Stock Analysis Report DENTSPLY INTL (XRAY): Free Stock Analysis Report ZIMMER HOLDINGS (ZMH): Free Stock Analysis Report To read this article on Zacks.com click here. In the same month, artificial knee and hip maker Smith & Nephew plc ( SNN ), entered into an agreement to buy Arthrocare Corporation ( ARTC ) for $1.7 billion in order to expand its product line in sports medicines. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ARTHROCARE CORP (ARTC): Free Stock Analysis Report BAXTER INTL (BAX): Free Stock Analysis Report BARD C R INC (BCR): Free Stock Analysis Report BECTON DICKINSO (BDX): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report CAREFUSION CORP (CFN): Free Stock Analysis Report CARLYLE GROUP (CG): Free Stock Analysis Report COOPER COS (COO): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report COVANCE INC (CVD): Free Stock Analysis Report QUEST DIAGNOSTC (DGX): Free Stock Analysis Report HAEMONETICS CP (HAE): Free Stock Analysis Report HOLOGIC INC (HOLX): Free Stock Analysis Report HENRY SCHEIN IN (HSIC): Free Stock Analysis Report ILLUMINA INC (ILMN): Free Stock Analysis Report INTUITIVE SURG (ISRG): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report MEAD JOHNSON NU (MJN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report PATTERSON COS (PDCO): Free Stock Analysis Report SMITH & NEPHEW (SNN): Free Stock Analysis Report ST JUDE MEDICAL (STJ): Free Stock Analysis Report STRYKER CORP (SYK): Free Stock Analysis Report THERMO FISHER (TMO): Free Stock Analysis Report VOLCANO CORP (VOLC): Free Stock Analysis Report WRIGHT MEDICAL (WMGI): Free Stock Analysis Report DENTSPLY INTL (XRAY): Free Stock Analysis Report ZIMMER HOLDINGS (ZMH): Free Stock Analysis Report To read this article on Zacks.com click here. Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses. Among other MedTech stocks, Mead Johnson Nutrition Company ( MJN ), Covance Inc. ( CVD ), Cardinal Health, Inc. ( CAH ), Illumina Inc. ( ILMN ) and Hologic Inc. ( HOLX ) carrying a Zacks Rank #2 (Buy) also look attractive. | Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ARTHROCARE CORP (ARTC): Free Stock Analysis Report BAXTER INTL (BAX): Free Stock Analysis Report BARD C R INC (BCR): Free Stock Analysis Report BECTON DICKINSO (BDX): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report CAREFUSION CORP (CFN): Free Stock Analysis Report CARLYLE GROUP (CG): Free Stock Analysis Report COOPER COS (COO): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report COVANCE INC (CVD): Free Stock Analysis Report QUEST DIAGNOSTC (DGX): Free Stock Analysis Report HAEMONETICS CP (HAE): Free Stock Analysis Report HOLOGIC INC (HOLX): Free Stock Analysis Report HENRY SCHEIN IN (HSIC): Free Stock Analysis Report ILLUMINA INC (ILMN): Free Stock Analysis Report INTUITIVE SURG (ISRG): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report MEAD JOHNSON NU (MJN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report PATTERSON COS (PDCO): Free Stock Analysis Report SMITH & NEPHEW (SNN): Free Stock Analysis Report ST JUDE MEDICAL (STJ): Free Stock Analysis Report STRYKER CORP (SYK): Free Stock Analysis Report THERMO FISHER (TMO): Free Stock Analysis Report VOLCANO CORP (VOLC): Free Stock Analysis Report WRIGHT MEDICAL (WMGI): Free Stock Analysis Report DENTSPLY INTL (XRAY): Free Stock Analysis Report ZIMMER HOLDINGS (ZMH): Free Stock Analysis Report To read this article on Zacks.com click here. Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses. Against the backdrop of flattening or declining sales growth in developed markets, Boston Scientific achieved 8% international growth in the first quarter of 2014 on the back of 22% growth in emerging markets, which represented 9% of total company sales. | Taking a cue from Abbott Laboratories ( ABT ), which separated its research-based pharmaceuticals business by creating a new company AbbVie ( ABBV ) last year, Baxter International revealed in Mar 2014 that it will split its biopharmaceuticals and medical device segments into two independent companies in order to put greater management focus on these two businesses. Click to get this free report ABBVIE INC (ABBV): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report ARTHROCARE CORP (ARTC): Free Stock Analysis Report BAXTER INTL (BAX): Free Stock Analysis Report BARD C R INC (BCR): Free Stock Analysis Report BECTON DICKINSO (BDX): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report CAREFUSION CORP (CFN): Free Stock Analysis Report CARLYLE GROUP (CG): Free Stock Analysis Report COOPER COS (COO): Free Stock Analysis Report COVIDIEN PLC (COV): Free Stock Analysis Report COVANCE INC (CVD): Free Stock Analysis Report QUEST DIAGNOSTC (DGX): Free Stock Analysis Report HAEMONETICS CP (HAE): Free Stock Analysis Report HOLOGIC INC (HOLX): Free Stock Analysis Report HENRY SCHEIN IN (HSIC): Free Stock Analysis Report ILLUMINA INC (ILMN): Free Stock Analysis Report INTUITIVE SURG (ISRG): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report MEAD JOHNSON NU (MJN): Free Stock Analysis Report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report PATTERSON COS (PDCO): Free Stock Analysis Report SMITH & NEPHEW (SNN): Free Stock Analysis Report ST JUDE MEDICAL (STJ): Free Stock Analysis Report STRYKER CORP (SYK): Free Stock Analysis Report THERMO FISHER (TMO): Free Stock Analysis Report VOLCANO CORP (VOLC): Free Stock Analysis Report WRIGHT MEDICAL (WMGI): Free Stock Analysis Report DENTSPLY INTL (XRAY): Free Stock Analysis Report ZIMMER HOLDINGS (ZMH): Free Stock Analysis Report To read this article on Zacks.com click here. Total earnings for the companies in this sector increased a strong 15.2% year over year on revenue growth of 16.2%. |
27492.0 | 2014-04-29 00:00:00 UTC | Stock Market News for April 29, 2014 - Market News | ABBV | https://www.nasdaq.com/articles/stock-market-news-for-april-29-2014-market-news-2014-04-29 | nan | nan | Benchmarks finished Monday's choppy run mostly higher as investor sentiment following new deals in the health care sector, positive pending home sales data and intense selling pressure on internet stocks. While merger and acquisition activity in the health care sector helped the S&P 500 and Dow close in the green, the Nasdaq ended in negative territory due to decline in high-growth tech stocks.
For a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article
The Dow Jones Industrial Average (DJI) gained 0.5% to close Monday's trading session at 16,448.74. The Standard & Poor 500 (S&P 500) went up 0.3% to finish at 1,869.43. The tech-laden Nasdaq Composite Index dropped a meager 0.03% to 4,074.40. The fear-gauge CBOE Volatility Index (VIX) dropped 0.6% to settle at 13.97. Total volume for the day was roughly 7.4 billion shares, higher than this month's average of 6.5 billion. Advancing stocks outnumbered the decliners on the NYSE. For 50% stocks that advanced, 46% declined.
Merger and acquisition activities in the health care sector boosted investor sentiment. AstraZeneca PLC's (NYSE: AZN ) shares surged 12.2% after Pfizer Inc. (NYSE: PFE ) confirmed their interest to takeover AstraZeneca for about $100 billion. This is the second time Pfizer made a bid for Britain's AstraZeneca. Pfizer led the advance among the Dow components. Shares of Pfizer rose 4.2%.
In another development, Forest Laboratories has agreed to buy drug development collaboration company Furiex Pharmaceuticals, Inc. (NASDAQ: FURX ) for nearly $1.1 billion in cash. Shares of Furiex Pharmaceuticals soared 28.6%. Bio-technology company Agenus Inc. (NASDAQ: AGEN ) signed a deal with Merck & Co. Inc. (NYSE: MRK ). Shares of Agenus surged 19.5%. However, shares of Merck dropped 0.9%.
The Health Care Select Sector SPDR (XLV) increased 0.6%. Major drug manufacturing companies such as Johnson & Johnson (NYSE: JNJ ) and AbbVie Inc. (NYSE: ABBV ) rose 1.6% and 3.5%, respectively. Also, key bio-tech stocks such as Gilead Sciences Inc. (NASDAQ: GILD ), Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX ) and Amgen Inc. (NASDAQ: AMGN ) increased 0.2%, 0.5% and 0.1%, respectively.
Investors were buoyed by encouraging economic data on pending home sales. The National Association of Realtors reported that Pending Home Sales Index, a forward looking indicator based on contract signings, went up 3.4% to 97.4 in March. The rise in pending home sales in March was way ahead of the consensus expectation of a 0.6% increase.
The mixed bag of events caused wild swings in the benchmarks. The Dow swung within a 187-point range. Declines in high-growth tech stocks had a negative impact on Nasdaq. Stocks including Amazon.com Inc. (NASDAQ: AMZN ), Facebook, Inc. (NASDAQ: FB ), Netflix, Inc. (NASDAQ: NFLX ), LinkedIn Corporation (NYSE: LNKD ) and Yelp, Inc. (NYSE: YELP ) plunged 2.4%, 2.7%, 2.4%, 6.4% and 3.6%, respectively.
However, gains in certain technology bellwethers helped restrict the negative impact from the selloff. The Technology Select Sector SPDR (XLK) increased 0.9%. Shares of Apple Inc. (NASDAQ: AAPL ), the largest component of both the Nasdaq and S&P 500, gained 3.9%. Other bellwethers such as Microsoft Corporation (NASDAQ: MSFT ), Google Inc. (NASDAQ: GOOG ), International Business Machines Corporation (NYSE: IBM ) and Verizon Communications Inc. (NYSE: VZ ) gained 2.4%, 0.2%, 1.9% and 1.4%, respectively.
Six out of 10 sectors of the S&P 500 ended in the green. The Consumer Staples Select Sector SPDR (XLP) led the advance as the sector rose 1.1%. Key stocks from the sector such as The Procter & Gamble Company (NYSE: PG ), Philip Morris International, Inc. (NYSE: PM ), Wal-Mart Stores Inc. (NYSE: WMT ), CVS Caremark Corporation (NYSE: CVS ) and Pepsico, Inc. (NYSE: PEP ) increased 1.9%, 1.0%, 1.5%, 0.5% and 1.8%, respectively.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Major drug manufacturing companies such as Johnson & Johnson (NYSE: JNJ ) and AbbVie Inc. (NYSE: ABBV ) rose 1.6% and 3.5%, respectively. ABBVIE INC (ABBV): Free Stock Analysis Report AGENUS INC (AGEN): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report FURIEX PHARMACT (FURX): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report LINKEDIN CORP-A (LNKD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report NETFLIX INC (NFLX): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Benchmarks finished Monday's choppy run mostly higher as investor sentiment following new deals in the health care sector, positive pending home sales data and intense selling pressure on internet stocks. | ABBVIE INC (ABBV): Free Stock Analysis Report AGENUS INC (AGEN): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report FURIEX PHARMACT (FURX): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report LINKEDIN CORP-A (LNKD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report NETFLIX INC (NFLX): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Major drug manufacturing companies such as Johnson & Johnson (NYSE: JNJ ) and AbbVie Inc. (NYSE: ABBV ) rose 1.6% and 3.5%, respectively. Also, key bio-tech stocks such as Gilead Sciences Inc. (NASDAQ: GILD ), Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX ) and Amgen Inc. (NASDAQ: AMGN ) increased 0.2%, 0.5% and 0.1%, respectively. | ABBVIE INC (ABBV): Free Stock Analysis Report AGENUS INC (AGEN): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report FURIEX PHARMACT (FURX): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report LINKEDIN CORP-A (LNKD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report NETFLIX INC (NFLX): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Major drug manufacturing companies such as Johnson & Johnson (NYSE: JNJ ) and AbbVie Inc. (NYSE: ABBV ) rose 1.6% and 3.5%, respectively. Stocks including Amazon.com Inc. (NASDAQ: AMZN ), Facebook, Inc. (NASDAQ: FB ), Netflix, Inc. (NASDAQ: NFLX ), LinkedIn Corporation (NYSE: LNKD ) and Yelp, Inc. (NYSE: YELP ) plunged 2.4%, 2.7%, 2.4%, 6.4% and 3.6%, respectively. | Major drug manufacturing companies such as Johnson & Johnson (NYSE: JNJ ) and AbbVie Inc. (NYSE: ABBV ) rose 1.6% and 3.5%, respectively. ABBVIE INC (ABBV): Free Stock Analysis Report AGENUS INC (AGEN): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report FURIEX PHARMACT (FURX): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report LINKEDIN CORP-A (LNKD): Free Stock Analysis Report MERCK & CO INC (MRK): Free Stock Analysis Report NETFLIX INC (NFLX): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Benchmarks finished Monday's choppy run mostly higher as investor sentiment following new deals in the health care sector, positive pending home sales data and intense selling pressure on internet stocks. |
27493.0 | 2014-04-25 00:00:00 UTC | AbbVie Beats on Q1 Earnings, Humira Soars - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvie-beats-on-q1-earnings-humira-soars-analyst-blog-2014-04-25 | nan | nan | AbbVie Inc. ( ABBV ) reported first quarter 2014 earnings of 71 cents per share, surpassing the Zacks Consensus Estimate and year-ago earnings of 68 cents. Revenues increased 5.4% to $4.563 billion in the first quarter of 2014, surpassing the Zacks Consensus Estimate of $4.328 billion. Results were boosted by Humira's strong performance. Currency movement negatively impacted revenues by 1.3%.
Including one-time items, first quarter 2014 earnings came in at 61 cents per share, up 1.7%.
The Quarter in Detail
Key drug, Humira, recorded growth of 17.5% with revenues coming in at $2.637 billion. U.S. sales increased 24.7% ($1.192 billion). Ex-U.S. sales increased 12.2% to $1.445 billion. Other products that performed well included Synthroid (up 31.5% to $157 million), Creon (up 18.4% to $107 million) and Duodopa (up 32.2% to $52 million).
TriCor/TriLipix revenues fell 81.8% to $23 million. Niaspan sales declined 75% to $47 million.
AbbVie said that adjusted SG&A was 27.6% of sales in the first quarter - this reflects the company's investment in its growth brands as well as preparations for the potential launch of its hepatitis C virus (HCV) combination therapy.
AbbVie is currently seeking approval for its HCV treatment in the U.S. and expects to file for EU approval early next month. Approval would allow the company to launch the product in the U.S. in 2014 and the EU early next year.
Adjusted R&D was 16.9% of first quarter 2014 sales, reflecting the company's investment in its mid- and late-stage pipeline as well as its efforts to expand Humira's label.
AbbVie's pipeline represents significant potential - the company's late-stage pipeline includes several compounds or indications in phase III development targeting therapeutic areas like HCV, immunology, and endometriosis. Meanwhile, the company recently initiated a phase III study evaluating Humira for the treatment of fingernail psoriasis in patients with moderate to severe chronic plaque psoriasis.
Guidance Maintained
AbbVie continues to expect 2014 earnings in the range of $3.00 to $3.10 per share on revenues of about $19 billion. The guidance does not include the impact of the potential launch of the HCV therapy in the U.S. The Zacks Consensus Estimate of $3.12 is slightly above the guidance range. The Zacks Consensus Estimate for revenues is also slightly above the company's guidance at $19.2 billion.
Our Take
AbbVie is going through a transition period with its lipid franchise (TriCor, TriLipix and Niaspan) facing generic competition. We expect 2014 to remain challenging as the company absorbs the impact of the loss of exclusivity on the lipid franchise. However, this year should be catalyst rich for AbbVie as it continues to invest in its pipeline.
The launch of the HCV combination therapy, potentially later this year, would be a major boost for the company. The company has presented impressive data on the candidate - the high rates of response and tolerability coupled with low discontinuation rates are encouraging. But the HCV market currently has strong players like Gilead Sciences ( GILD ).
AbbVie carries a Zacks Rank #3 (Hold). While we are positive on AbbVie's strong late-stage pipeline, dividend yield and growth strategy, we remain concerned about its dependence on Humira. We believe AbbVie will continue pursuing in-licensing deals and collaborations to boost its pipeline.
Some better-ranked stocks in the health care sector include Allergan ( AGN ) and Johnson & Johnson ( JNJ ). Both are Zacks Rank #2 (Buy) stocks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie said that adjusted SG&A was 27.6% of sales in the first quarter - this reflects the company's investment in its growth brands as well as preparations for the potential launch of its hepatitis C virus (HCV) combination therapy. While we are positive on AbbVie's strong late-stage pipeline, dividend yield and growth strategy, we remain concerned about its dependence on Humira. AbbVie Inc. ( ABBV ) reported first quarter 2014 earnings of 71 cents per share, surpassing the Zacks Consensus Estimate and year-ago earnings of 68 cents. | AbbVie Inc. ( ABBV ) reported first quarter 2014 earnings of 71 cents per share, surpassing the Zacks Consensus Estimate and year-ago earnings of 68 cents. ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie said that adjusted SG&A was 27.6% of sales in the first quarter - this reflects the company's investment in its growth brands as well as preparations for the potential launch of its hepatitis C virus (HCV) combination therapy. | AbbVie said that adjusted SG&A was 27.6% of sales in the first quarter - this reflects the company's investment in its growth brands as well as preparations for the potential launch of its hepatitis C virus (HCV) combination therapy. AbbVie's pipeline represents significant potential - the company's late-stage pipeline includes several compounds or indications in phase III development targeting therapeutic areas like HCV, immunology, and endometriosis. ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. | AbbVie's pipeline represents significant potential - the company's late-stage pipeline includes several compounds or indications in phase III development targeting therapeutic areas like HCV, immunology, and endometriosis. Guidance Maintained AbbVie continues to expect 2014 earnings in the range of $3.00 to $3.10 per share on revenues of about $19 billion. AbbVie Inc. ( ABBV ) reported first quarter 2014 earnings of 71 cents per share, surpassing the Zacks Consensus Estimate and year-ago earnings of 68 cents. |
27494.0 | 2014-04-24 00:00:00 UTC | Will AbbVie (ABBV) Disappoint This Earnings Season? - Analyst Blog | ABBV | https://www.nasdaq.com/articles/will-abbvie-abbv-disappoint-this-earnings-season-analyst-blog-2014-04-24 | nan | nan | AbbVie Inc. ( ABBV ) is scheduled to report first quarter 2014 results before the opening bell on Apr 25. Last quarter, AbbVie had posted an earnings surprise of -1.20%. Let's see how things are shaping up for this announcement.
Factors at Play
Although Humira will continue to boost revenues, AbbVie's top-line will remain under pressure with the loss of exclusivity of TriCor, TriLipix and Niaspan. Unfavorable currency movement is also expected to impact the top line. We also remain concerned about AbbVie's dependence on Humira due to intense competition in the market.
Meanwhile, other products like Synthroid, Creon, Zemplar and Duodopa should continue to perform well and partially offset the impact of genericization.
Earnings Whispers?
Our proven model does not conclusively show that AbbVie is likely to beat earnings this quarter. That is because a stock needs to have both a positive Earnings ESP (Expected Surprise Prediction) and a Zacks Rank of #1, 2 or 3 for this to happen. That is not the case here as you will see below.
Zacks ESP: The Earnings ESP for AbbVie is -1.47% since the Most Accurate estimate is $0.67 while the Zacks Consensus Estimate is $0.68.
Zacks #3 Rank (Hold): AbbVie's Zacks Rank #3 (Hold) has little effect on the predictive power of ESP because the Zacks Rank #3 when combined with a negative ESP makes surprise prediction difficult.
Other Stocks to Consider
Here are some other companies you may want to consider as our model shows that they have the right combination of elements, i.e., a positive Zacks Earnings ESP and a Zacks Rank #1, #2 or #3.
Actavis plc ( ACT ) has an Earnings ESP of +3.34% and holds a Zacks Rank #2 (Buy). Actavis will report first quarter earnings on Apr 30.
Teva Pharmaceutical Industries Ltd. ( TEVA ) has an Earnings ESP of +0.00% and holds a Zacks Rank #2. Teva will report first quarter earnings on May 1.
Forest Laboratories Inc. ( FRX ) has an Earnings ESP of +4.55% and holds a Zacks Rank #3. Forest Labs will report first quarter earnings on Apr 29.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Factors at Play Although Humira will continue to boost revenues, AbbVie's top-line will remain under pressure with the loss of exclusivity of TriCor, TriLipix and Niaspan. AbbVie Inc. ( ABBV ) is scheduled to report first quarter 2014 results before the opening bell on Apr 25. Last quarter, AbbVie had posted an earnings surprise of -1.20%. | Zacks #3 Rank (Hold): AbbVie's Zacks Rank #3 (Hold) has little effect on the predictive power of ESP because the Zacks Rank #3 when combined with a negative ESP makes surprise prediction difficult. ABBVIE INC (ABBV): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report FOREST LABS A (FRX): Free Stock Analysis Report TEVA PHARM ADR (TEVA): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc. ( ABBV ) is scheduled to report first quarter 2014 results before the opening bell on Apr 25. | Zacks ESP: The Earnings ESP for AbbVie is -1.47% since the Most Accurate estimate is $0.67 while the Zacks Consensus Estimate is $0.68. Zacks #3 Rank (Hold): AbbVie's Zacks Rank #3 (Hold) has little effect on the predictive power of ESP because the Zacks Rank #3 when combined with a negative ESP makes surprise prediction difficult. ABBVIE INC (ABBV): Free Stock Analysis Report ACTAVIS PLC (ACT): Free Stock Analysis Report FOREST LABS A (FRX): Free Stock Analysis Report TEVA PHARM ADR (TEVA): Free Stock Analysis Report To read this article on Zacks.com click here. | Last quarter, AbbVie had posted an earnings surprise of -1.20%. AbbVie Inc. ( ABBV ) is scheduled to report first quarter 2014 results before the opening bell on Apr 25. Factors at Play Although Humira will continue to boost revenues, AbbVie's top-line will remain under pressure with the loss of exclusivity of TriCor, TriLipix and Niaspan. |
27495.0 | 2014-04-24 00:00:00 UTC | Pre-Market Earnings Report for April 25, 2014 : ABBV, F, CL, COV, STT, VFC, AEP, AON, TYC, VTR, MCO, WY | ABBV | https://www.nasdaq.com/articles/pre-market-earnings-report-april-25-2014-abbv-f-cl-cov-stt-vfc-aep-aon-tyc-vtr-mco-wy-2014 | nan | nan | The following companies are expected to report earnings prior to market open on 04/25/2014. Visit our Earnings Calendar for a full list of expected earnings releases.
AbbVie Inc. ( ABBV ) is reporting for the quarter ending March 31, 2014. The large cap pharmaceutical company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.68. This value represents a no change for the same quarter last year. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 16.07 vs. an industry ratio of 18.90.
Ford Motor Company ( F ) is reporting for the quarter ending March 31, 2014. The auto (domestic) company's consensus earnings per share forecast from the 11 analysts that follow the stock is $0.32. This value represents a 21.95% decrease compared to the same quarter last year. In the past year F has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 10.71%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for F is 12.02 vs. an industry ratio of 291.20.
Colgate-Palmolive Company ( CL ) is reporting for the quarter ending March 31, 2014. The cleaning company's consensus earnings per share forecast from the 14 analysts that follow the stock is $0.68. This value represents a 3.03% increase compared to the same quarter last year. In the past year CL has met analyst expectations three times and beat the expectations the other quarter. Zacks Investment Research reports that the 2014 Price to Earnings ratio for CL is 22.03 vs. an industry ratio of 20.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Covidien plc. ( COV ) is reporting for the quarter ending March 31, 2014. The medical products company's consensus earnings per share forecast from the 12 analysts that follow the stock is $0.95. This value represents a 15.18% decrease compared to the same quarter last year. In the past year COV has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 6.38%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for COV is 17.55 vs. an industry ratio of 5.70, implying that they will have a higher earnings growth than their competitors in the same industry.
State Street Corporation ( STT ) is reporting for the quarter ending March 31, 2014. The bank company's consensus earnings per share forecast from the 10 analysts that follow the stock is $1.00. This value represents a 4.17% increase compared to the same quarter last year. STT missed the consensus earnings per share in the 4th calendar quarter of 2013 by -3.36%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for STT is 13.32 vs. an industry ratio of 13.70.
V.F. Corporation ( VFC ) is reporting for the quarter ending March 31, 2014. The textile company's consensus earnings per share forecast from the 17 analysts that follow the stock is $0.64. This value represents a 4.92% increase compared to the same quarter last year. VFC missed the consensus earnings per share in the 4th calendar quarter of 2013 by -2.38%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for VFC is 19.77 vs. an industry ratio of 25.40.
American Electric Power Company, Inc. ( AEP ) is reporting for the quarter ending March 31, 2014. The electric power utilities company's consensus earnings per share forecast from the 10 analysts that follow the stock is $0.91. This value represents a 13.75% increase compared to the same quarter last year. AEP missed the consensus earnings per share in the 2nd calendar quarter of 2013 by -5.19%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for AEP is 15.59 vs. an industry ratio of 15.80.
Aon plc ( AON ) is reporting for the quarter ending March 31, 2014. The insurance brokers company's consensus earnings per share forecast from the 13 analysts that follow the stock is $1.17. This value represents a 5.41% increase compared to the same quarter last year. In the past year AON has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2014 Price to Earnings ratio for AON is 15.81 vs. an industry ratio of 28.30.
Tyco International, Ltd. (Switzerland) ( TYC ) is reporting for the quarter ending March 31, 2014. The diversified operations company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.40. This value represents a 4.76% decrease compared to the same quarter last year. TYC missed the consensus earnings per share in the 3rd calendar quarter of 2013 by -1.89%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for TYC is 21.31 vs. an industry ratio of 15.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Ventas, Inc. ( VTR ) is reporting for the quarter ending March 31, 2014. The reit company's consensus earnings per share forecast from the 10 analysts that follow the stock is $1.07. This value represents a 3.88% increase compared to the same quarter last year. In the past year VTR has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2014 Price to Earnings ratio for VTR is 14.81 vs. an industry ratio of 15.20.
Moody's Corporation ( MCO ) is reporting for the quarter ending March 31, 2014. The financial services company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.90. This value represents a 7.22% decrease compared to the same quarter last year. In the past year MCO has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 10.39%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for MCO is 20.27 vs. an industry ratio of 18.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Weyerhaeuser Company ( WY ) is reporting for the quarter ending March 31, 2014. The building company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.24. This value represents a 7.69% decrease compared to the same quarter last year. In the past year WY has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2014 Price to Earnings ratio for WY is 22.52 vs. an industry ratio of 17.00, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc. ( ABBV ) is reporting for the quarter ending March 31, 2014. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 16.07 vs. an industry ratio of 18.90. | AbbVie Inc. ( ABBV ) is reporting for the quarter ending March 31, 2014. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 16.07 vs. an industry ratio of 18.90. | AbbVie Inc. ( ABBV ) is reporting for the quarter ending March 31, 2014. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 16.07 vs. an industry ratio of 18.90. | AbbVie Inc. ( ABBV ) is reporting for the quarter ending March 31, 2014. ABBV missed the consensus earnings per share in the 4th calendar quarter of 2013 by -1.2%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ABBV is 16.07 vs. an industry ratio of 18.90. |
27496.0 | 2014-04-22 00:00:00 UTC | AstraZeneca (AZN) Jumps: Stock Adds 8.8% in Session - Tale of the Tape | ABBV | https://www.nasdaq.com/articles/astrazeneca-azn-jumps%3A-stock-adds-8.8-in-session-tale-of-the-tape-2014-04-22 | nan | nan | AstraZeneca PLC ( AZN ) was a big mover last session with shares rising nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company as the stock is now trading way above the past one month's volatile price range of $62.45 to $65.69.
This drug manufacturing company has seen a mixed track record when it comes to estimate revisions of 1 increase and 1 decrease over the last 30 days. Meanwhile, the Zacks Consensus Estimate has remained unchanged over the same period. Yesterday's rally is encouraging though, so make sure to keep a close watch on this firm in the near future.
AstraZeneca currently bears a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Better-ranked Pharmaceutical stocks worth considering include AbbVie Inc. ( ABBV ), Allergan Inc. ( AGN ) and Johnson & Johnson ( JNJ ). All three stocks hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Better-ranked Pharmaceutical stocks worth considering include AbbVie Inc. ( ABBV ), Allergan Inc. ( AGN ) and Johnson & Johnson ( JNJ ). Click to get this free report >> ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. AstraZeneca PLC ( AZN ) was a big mover last session with shares rising nearly 9% on the day. | Better-ranked Pharmaceutical stocks worth considering include AbbVie Inc. ( ABBV ), Allergan Inc. ( AGN ) and Johnson & Johnson ( JNJ ). Click to get this free report >> ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report >> ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. Better-ranked Pharmaceutical stocks worth considering include AbbVie Inc. ( ABBV ), Allergan Inc. ( AGN ) and Johnson & Johnson ( JNJ ). Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Better-ranked Pharmaceutical stocks worth considering include AbbVie Inc. ( ABBV ), Allergan Inc. ( AGN ) and Johnson & Johnson ( JNJ ). Click to get this free report >> ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report To read this article on Zacks.com click here. AstraZeneca PLC ( AZN ) was a big mover last session with shares rising nearly 9% on the day. |
27497.0 | 2014-04-21 00:00:00 UTC | Roche Launches Kadcyla in Japan - Analyst Blog | ABBV | https://www.nasdaq.com/articles/roche-launches-kadcyla-in-japan-analyst-blog-2014-04-21 | nan | nan | Roche's ( RHHBY ) breast cancer franchise received a boost when it announced that it has launched its cancer drug Kadcyla in Japan.
We note that Kadcyla is approved for the indication of HER2-positive inoperable or recurrent breast cancer in Japan. It received marketing approval in Sep 2013.
Subsequent to the approval, Roche initiated a clinical study at a limited number of medical institutions from Jan 2014 in order to provide access to patients and collect clinical data. Roche will now terminate this study as enrollment has reached the target number and access will be normalized post launch.
We remind investors that Kadcyla was approved for treating previously treated HER2-positive metastatic breast cancer in the U.S. in Feb 2013 and EU in Nov 2013.
Roche is a leader in breast cancer market with its HER2 franchise which includes Herceptin and recently launched drugs like Perjeta and Kadcyla. Perjeta was launched in the U.S. in Jun 2012. Perjeta obtained approval in the European Union in Mar 2013. The approval of Perjeta in the EU, Kadcyla in the U.S, EU and Japan and approval of the subcutaneous formulation of Herceptin in the EU have further strengthened Roche's HER2 franchise. Sales of the franchise increased 17% in the first quarter of 2014.
Last week, Roche reported first quarter sales results which met the Zacks Consensus Estimate. The oncology portfolio looks solid as ever and we expect further traction in 2014. We are also impressed by the company's efforts to grow its portfolio beyond oncology to immunology and ophthalmology.
Roche currently carries a Zacks Rank #3 (Hold). Investors may consider other large cap pharmas like Allergan ( AGN ), Johnson & Johnson ( JNJ ) and AbbVie ( ABBV ). All three carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors may consider other large cap pharmas like Allergan ( AGN ), Johnson & Johnson ( JNJ ) and AbbVie ( ABBV ). ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here. Roche will now terminate this study as enrollment has reached the target number and access will be normalized post launch. | Investors may consider other large cap pharmas like Allergan ( AGN ), Johnson & Johnson ( JNJ ) and AbbVie ( ABBV ). ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here. Roche's ( RHHBY ) breast cancer franchise received a boost when it announced that it has launched its cancer drug Kadcyla in Japan. | ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here. Investors may consider other large cap pharmas like Allergan ( AGN ), Johnson & Johnson ( JNJ ) and AbbVie ( ABBV ). Roche's ( RHHBY ) breast cancer franchise received a boost when it announced that it has launched its cancer drug Kadcyla in Japan. | Investors may consider other large cap pharmas like Allergan ( AGN ), Johnson & Johnson ( JNJ ) and AbbVie ( ABBV ). ABBVIE INC (ABBV): Free Stock Analysis Report ALLERGAN INC (AGN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here. Roche's ( RHHBY ) breast cancer franchise received a boost when it announced that it has launched its cancer drug Kadcyla in Japan. |
27498.0 | 2014-04-21 00:00:00 UTC | Is Pfizer Eyeing AstraZeneca? - Analyst Blog | ABBV | https://www.nasdaq.com/articles/is-pfizer-eyeing-astrazeneca-analyst-blog-2014-04-21 | nan | nan | According to a report by UK's Sunday Times , Pfizer ( PFE ) is looking to acquire AstraZeneca ( AZN ) for more than £60 billion (about $101 billion). The report also stated that AstraZeneca has been resisting the takeover deal.
The deal, if it goes through, will provide Pfizer with the opportunity to deploy its accumulated cash generated through subsidiaries outside the U.S. which stands at approximately $70 billion, as per the Sunday Times report. We believe that Pfizer would prefer investing this fund outside the U.S. instead of repatriating it to the country where it would be taxed at a steeper rate.
As on Apr 17, 2014, AstraZeneca had a market cap of approximately $79.82 billion. We believe that these rumors will lead to a short-term spike in AstraZeneca's share price.
Neither AstraZeneca nor Pfizer has come up with a formal announcement. We expect to get more color on the potential deal at AstraZeneca's first quarter 2014earnings calllater this week (Apr 24).
We note that AstraZeneca has been struggling with a number of patent expiries. Earnings have also seen a declining trend in the past several quarters. For 2014, the company expects core earnings to decline in the teens. Its acid reflux management drug, Nexium, which generated $3.9 billion sales in 2013, is set to go off patent in late May this year.
However, we still believe that AstraZeneca is an attractive acquisition target based on its sound pipeline, product portfolio and presence in a number of countries. The company's immune-mediated therapies for cancer, in the pipeline, have grown rapidly. Additionally, a number of products including Forxiga and Xigduo (for type II diabetes) and orphan drug Myalept (complications of leptin deficiency, in addition to diet, in patients with congenital generalized or acquired generalized lipodystrophy) have gained approval in recent quarters.
AstraZeneca and Pfizer both currently hold a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ) and Johnson & Johnson ( JNJ ). Both sport a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ) and Johnson & Johnson ( JNJ ). ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. The deal, if it goes through, will provide Pfizer with the opportunity to deploy its accumulated cash generated through subsidiaries outside the U.S. which stands at approximately $70 billion, as per the Sunday Times report. | Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ) and Johnson & Johnson ( JNJ ). ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. According to a report by UK's Sunday Times , Pfizer ( PFE ) is looking to acquire AstraZeneca ( AZN ) for more than £60 billion (about $101 billion). | ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ) and Johnson & Johnson ( JNJ ). According to a report by UK's Sunday Times , Pfizer ( PFE ) is looking to acquire AstraZeneca ( AZN ) for more than £60 billion (about $101 billion). | ABBVIE INC (ABBV): Free Stock Analysis Report ASTRAZENECA PLC (AZN): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the health care sector include AbbVie Inc. ( ABBV ) and Johnson & Johnson ( JNJ ). According to a report by UK's Sunday Times , Pfizer ( PFE ) is looking to acquire AstraZeneca ( AZN ) for more than £60 billion (about $101 billion). |
27499.0 | 2014-04-17 00:00:00 UTC | AbbVie Candidate in Pivotal Study - Analyst Blog | ABBV | https://www.nasdaq.com/articles/abbvie-candidate-in-pivotal-study-analyst-blog-2014-04-17 | nan | nan | Pipeline updates are highly awaited events in the pharma/biotech sector as they play an important role in deciding whether or not to invest in a particular company. These updates provide information on experimental drugs and at times give an insight into the commercial potential of the candidate once it is successfully developed and commercialized.
Earlier this week, AbbVie Inc. ( ABBV ) provided an update on its experimental cancer drug which has been moved into a pivotal study (n=900). AbbVie's PARP inhibitor, veliparib's safety and efficacy will be evaluated in a randomized, placebo-controlled, double-blind, multicenter phase III study which will be conducted in previously untreated patients suffering from locally advanced or metastatic squamous non-small cell lung cancer (NSCLC).
In this study, two patient groups will be randomized to receive either carboplatin and Taxol (paclitaxel), which are standard chemotherapies, plus veliparib or carboplatin and Taxol plus placebo. The primary efficacy endpoint of the study is overall survival.
Meanwhile, AbbVie is working towards strengthening its pipeline. The company has a number of candidates in late stage of development or under regulatory process. AbbVie is also pursuing phase III studies on Humira for expanding its label for uveitis and hidradenitis suppurativa.
We note that AbbVie has partnered programs with several companies, including Biogen ( BIIB ). AbbVie and Biogen are developing daclizumab for relapsing remitting multiple sclerosis (regulatory applications slated for late 2014). AbbVie's Duopa is under review in the U.S. for advanced Parkinson's disease.
Meanwhile, veliparib is in another phase III study in which the safety and efficacy of the compound is being evaluated when added to carboplatin in women suffering from early-stage triple-negative breast cancer. A phase IIb study on veliparib is also ongoing in BRCA-mutated breast cancer patients who receive chemotherapy.
One of the approved drugs for NSCLC is Pfizer 's ( PFE ) Xalkori.
AbbVie holds a Zacks Rank #2 (Buy). Another stock in the healthcare sector looking equally good is Johnson & Johnson ( JNJ ), carrying a Zacks Rank #2.
ABBVIE INC (ABBV): Free Stock Analysis Report
BIOGEN IDEC INC (BIIB): Free Stock Analysis Report
JOHNSON & JOHNS (JNJ): Free Stock Analysis Report
PFIZER INC (PFE): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie's PARP inhibitor, veliparib's safety and efficacy will be evaluated in a randomized, placebo-controlled, double-blind, multicenter phase III study which will be conducted in previously untreated patients suffering from locally advanced or metastatic squamous non-small cell lung cancer (NSCLC). AbbVie and Biogen are developing daclizumab for relapsing remitting multiple sclerosis (regulatory applications slated for late 2014). Earlier this week, AbbVie Inc. ( ABBV ) provided an update on its experimental cancer drug which has been moved into a pivotal study (n=900). | Earlier this week, AbbVie Inc. ( ABBV ) provided an update on its experimental cancer drug which has been moved into a pivotal study (n=900). ABBVIE INC (ABBV): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie's PARP inhibitor, veliparib's safety and efficacy will be evaluated in a randomized, placebo-controlled, double-blind, multicenter phase III study which will be conducted in previously untreated patients suffering from locally advanced or metastatic squamous non-small cell lung cancer (NSCLC). | Earlier this week, AbbVie Inc. ( ABBV ) provided an update on its experimental cancer drug which has been moved into a pivotal study (n=900). AbbVie's PARP inhibitor, veliparib's safety and efficacy will be evaluated in a randomized, placebo-controlled, double-blind, multicenter phase III study which will be conducted in previously untreated patients suffering from locally advanced or metastatic squamous non-small cell lung cancer (NSCLC). ABBVIE INC (ABBV): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report To read this article on Zacks.com click here. | Earlier this week, AbbVie Inc. ( ABBV ) provided an update on its experimental cancer drug which has been moved into a pivotal study (n=900). AbbVie's PARP inhibitor, veliparib's safety and efficacy will be evaluated in a randomized, placebo-controlled, double-blind, multicenter phase III study which will be conducted in previously untreated patients suffering from locally advanced or metastatic squamous non-small cell lung cancer (NSCLC). Meanwhile, AbbVie is working towards strengthening its pipeline. |
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