Today’s Research Reports on Stocks to Watch: Pfizer and Alnylam Pharmaceuticals
NEW YORK, NY / ACCESSWIRE / August 28, 2018 / Pfizer announcing positive study results of its drug tafamidis for transthyretin amyloid cardiomyopathy, sent shares of Alynylam Pharmaceuticals skyrocketing on Monday as the company is developing a drug for a similar disease. Pfizer shares closed in the red on the news.
RDI Initiates Coverage on:
Pfizer Inc.
https://rdinvesting.com/news/?ticker=PFE
Alnylam Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=ALNY
Pfizer Inc. shares were down almost 2% on Monday despite Wall Street learning that the company may have a potential blockbuster medicine in its hands. A new study has shown that patients who have a rare condition called transthyretin amyloid cardiomyopathy, which can lead to heart failure, lowered their risk of dying by 30 percent after being treated with Pfizer’s tafamidis. The data was presented at the European Society of Cardiology Congress in Munich. Dr. Brenda Cooperstone, who is the chief development officer of rare disease at Pfizer, remarked, "The result is really, phenomenally encouraging and gives fantastic hope for patients with this devastating illness. It's a uniformly fatal disease." At the moment there are no approved medications in the United States for transthyretin cardiomyopathy. “We believe the ATTR-ACT study findings bring us a significant step closer to our goal of providing an urgently needed therapy for a serious and often fatal disease,” said Cooperstone. “We look forward to continuing discussions with global regulatory authorities about the potential of tafamidis as a treatment option for people living with ATTR-CM.” In other news, Pfizer, Inc. Issues A Voluntary Nationwide Recall of one lot of children’s Advil suspension bubble gum flavored 4 fl oz bottle because of customer complaints that the dosage cup provided is marked in teaspoons and the instructions on the label are described in milliliters (mL). Pfizer concluded that the use of the product with an unmatched dosage cup marked in teaspoons rather than milliliters has a chance of being associated with potential overdose.
Access RDI’s Pfizer Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PFE
Alnylam Pharmaceuticals, Inc. shares were up 16.23% on Monday with even more gains in after-hours trading. The stock gained 2.43% more in after-hours after rival Pfizer announced positive results from a late-stage trial of its drug tafamidis, which is being developed for the rare disease transthyretin amyloid cardiomyopathy. Alnylam Pharmaceuticals and Ionis Pharmaceuticals Inc are both developing drugs for a similar disease - hereditary TTR amyloidosis - also caused by a buildup of transthyretin protein in the body. Evercore ISI analysts Josh Schimmer and Steven Breazzano remarked "We see the door open to ALNY given key details of the study: 1) 20 mg not differentiated from 80 mg, and 2) more limited efficacy in the ATTRm population (vs wild-type) and would not be surprised to see ALNY shares trade up." According to the two analysts, two rival therapies, Alnylam Pharmaceuticals Inc.'s patisiran and Ionis Pharmaceuticals Inc. and Akcea Therapeutics Inc.'s inotersen, "will generally be safe in the neuropathy population."
Access RDI’s Alnylam Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ALNY
Our Actionable Research on Pfizer Inc. (NYSE: PFE) and Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
