Today’s Research Reports on Stocks to Watch: Teva and Pfizer
NEW YORK, NY / ACCESSWIRE / March 13, 2018 / Pfizer shares closed down despite a big announcement that Biogen would be buying its experimental PF-04958242 treatment that is associated with treating a symptom of schizophrenia. Teva shares saw gains despite any big news, but it was last week that the pharmaceutical company announced the offering of $4.5 billion of its previously announced senior notes.
RDI Initiates Coverage on:
Teva Pharmaceutical Industries Limited
https://rdinvesting.com/report/?ticker=TEVA
Pfizer Inc.
https://rdinvesting.com/report/?ticker=PFE
Teva Pharmaceutical Industries Limited shares closed up 1.72% on about 10.3 million shares on Monday. The company is expected to host a live audio webcast at the Cowen & Company 38th Annual Healthcare Conference in Boston, MA today. The Israeli pharma giant announced last week that it has successfully priced the offering of $4.5 billion of its previously announced senior notes. "With the successful pricing of $4.5 billion of senior notes, we have completed an important piece of our financial plan. Furthermore, having taken care of our financing requirements for the coming years, Teva will now focus on execution of our restructuring plan and optimization of our business," remarked Mike McClellan, the company's Executive Vice President and Chief Financial Officer.
Access RDI's Teva Pharmaceutical Industries Limited Research Report at:
https://rdinvesting.com/report/?ticker=TEVA
Pfizer Inc. shares closed down a modest 0.44% on about 25 million shares traded yesterday. It was announced on Monday that Biogen will be buying the pharma giant's experimental treatment, PF-04958242, for a symptom that is associated with schizophrenia. The deal could be worth more than $590 million. Biogen said that it is planning to start mid-stage tests on the drug. The deal is expected to close in the second quarter. Biogen said it would be paying $75 million to Pfizer upfront and then $515 million in development and commercialization milestone payments. Pfizer will be seeing royalty payments as well. PF-04958242 is an AMPA receptor potentiator that is designed to unscramble excitatory synaptic transmission in the CNS. Researchers have discovered in the Phase Ib, that they were successful at treating health volunteers by first triggering cognitive issues commonly associated with schizophrenia by dosing them with ketamine and then following up with the therapy. The treatment will become Biogen's first in neuropsychiatry. Shares of Pfizer are up nearly 7% in the last twelve months.
Access RDI's Pfizer Inc. Research Report at:
https://rdinvesting.com/report/?ticker=PFE
Our Actionable Research on Teva Pharmaceutical Industries Limited (NYSE: TEVA) and Pfizer Inc. (NYSE: PFE) can be downloaded free of charge at Research Driven Investing.
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