|Bid||176.36 x 1100|
|Ask||176.50 x 800|
|Day's Range||174.69 - 177.34|
|52 Week Range||152.16 - 201.23|
|PE Ratio (TTM)||65.54|
|Forward Dividend & Yield||5.28 (3.04%)|
|1y Target Est||N/A|
After a heated week of litigation battles, CBS on Thursday proceeded with a board meeting it had scheduled to vote on whether to dilute the voting power of National Amusements Inc., a company controlled by Shari Redstone. This came after a court decision that said CBS could not prevent Redstone from changing CBS's bylaws to prevent that from occurring. All of which means CBS directors and Redstone will be back in court soon to fight over voting control, with Redstone pushing to combine CBS with Viacom, unless of course, both sides instead consider the option to auction the media company.
One Wall Street analyst predicts the anti-migraine category could be a $1 billion to $2 billion business over the next five years. Michael Yee, managing director at Jefferies, expects others companies to get into the migraine treatment sector. The anti-migraine drug Aimovig from Amgen AMGN and Novartis NVS could become a $1 billion to $2 billion business over the next five years, said a Wall Street analyst.
Novartis' (NVS) CGRP antibody, Aimovig gains FDA approval for prevention of migraine. Zoetis (ZTS) and Lilly (LLY) announce deals to buy smaller companies.
Moody's Investors Service commented that the recent US Food and Drug Administration (FDA) approval of Aimovig for chronic migraines is credit positive for the Amgen Inc. (Baa1 stable) and Novartis AG (Aa3 negative). For additional information, please see Moody's Issuer Comment available on www.moodys.com. This publication does not announce a credit rating action.
The FDA has approved a new drug called Aimovig that is touted as the first treatment designed specifically to prevent migraines.
said late Thursday, May 17, they have obtained approval from the U.S. Food and Drug Administration for Aimovig, a migraine prevention drug for adults. The drug is the first treatment green-lighted by the agency to prevent migraines by blocking the calcitonin gene-related peptide receptor, thought to play a key role in the disease. "We believe Amgen will benefit significantly from its first mover advantage and ultimately retain 35-40% market share long term," Leerink Partners LLC analyst Geoffrey C. Porges wrote in a note on Friday.
On May 17, Amgen (AMGN) stock rose ~0.5% to the closing price of $174.65 per share following FDA approval of Aimovig. The company’s stock price has risen ~2.3% in the last week following recent drug approvals. Amgen’s stock price has risen ~11.2% over the last 12 months.
BlueBird Bio (BLUE) is a biotechnology company focused on developing gene therapy, cancer immunotherapy, and gene editing for the treatment of serious diseases. On May 17, Bluebird Bio (BLUE) stock jumped over 6.1% to the closing price of $189.30 per share, following positive news.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling the Peaks (Stocks hitting 52-week highs on May 17) Abaxis Inc (NASDAQ: ABAX ) (rallying for second straight session ...
Novartis AG (ADR) ( NVS) today announced that it has received the necessary approval from the U.S. Food and Drug Administration (FDA) for its key drug Aimovig (erenumab) as a preventive treatment of migraine in adults. The drug works by blocking a compound called calcitonin gene-related peptide receptor (CGRP-R), which is believed to play a critical role in migraine. The drug is available for self-administering once a month using Amgen Inc.’s ( AMGN) SureClick auto-injector. During the phase 2 and phase 3 clinical trials in patients with chronic and episodic migraine, the use of Aimovig resulted in significant decline in monthly migraine days.
Amgen Inc won U.S. Food and Drug Administration approval on Thursday for the first drug in a new class designed to prevent migraine headaches in adults. The drug, Aimovig, which is given monthly by self-injection, will have a list price of $6,900 a year, or $575 a month, the company said. Any discounts or rebates will depend on negotiations with health plans, Amgen spokeswoman Kristen Davis said.
Shares of drugmakers Amgen Inc. and Novartis AG rose in after-hours trading Thursday after jointly announcing FDA approval of Aimovig, a first-of-its-kind treatment for migraines. In a statement, Novartis said the Federal Drug Administration approved Aimovig's use for the preventive treatment of migraines in adults. "Aimovig is the first therapy of its kind targeting the CGRP receptor, and has demonstrated robust efficacy across the spectrum of migraine," Novartis Chief Executive Paul Hudson said in the statement.
The U.S. Food and Drug Administration on Thursday approved Amgen Inc's drug Aimovig for the prevention of migraine headaches in adults. The drug, given monthly by self injection, will have a list price of $6,900 a year, or $575 a month, the company said. Any discounts or rebates will depend on negotiations with health plans, said Amgen spokeswoman Kristen Davis.
The U.S. Food and Drug Administration has approved Amgen’s erenumab (which it’s calling Aimovig) to prevent migraines. “We feel pretty strongly this is a huge opportunity to help patients with a targeted, migraine specific medication that’s broadly efficacious, and can be administered in a patient-friendly way,” said Rob Lenz, VP, development at Amgen who lead the development of Aimovig. Amgen is commercializing Aimovig with Novartis in the U.S.
Amgen Inc. will charge a lower-than-expected $6,900 a year for a novel migraine treatment that investors hope will become the biotechnology giant’s next blockbuster. The Food and Drug Administration approved the drug, which will be marketed under the brand name Aimovig, on Thursday. Amgen’s pricing plans for Aimovig have been closely watched amid a wider U.S. debate over high prescription costs.
Today, Immunomedics (IMMU) announced positive results from a Phase 2 trial evaluating its investigational antibody drug conjugate (or ADC) sacituzumab govitecan in patients suffering from estrogen receptor-positive (or ER+)/human epidermal growth factor receptor 2-negative (or HER2-) metastatic breast cancer who have previously received at least two therapies. The investigational ADC therapy demonstrated an overall response rate of 31% in these heavily pretreated patients. Immunomedics plans to file its first biologics license application with the FDA later this month for the approval of sacituzumab govitecan for the treatment of metastatic triple-negative breast cancer (mTNBC).
Amgen (AMGN) gets European Commission's approval to incorporate a new indication into the European label of its PCSK9 inhibitor, Repatha.
Pfizer's (PFE) Retacrit, a biosimilar of Amgen's Epogen and J&J's Procrit gets FDA approval. The drug will be available for the treatment of anemia.