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Amgen trades at a premium to biotech companies Celgene and Biogen, but analysts are worried its pipeline contains fewer blockbuster opportunities.
Late last week, Johnson & Johnson (JNJ) announced that it was scrapping its mid-stage trial for the development of the treatment of Alzheimer’s disease, EARLY, which was in Phase 2b/3. The trial was testing the BACE inhibitor atabecestat. Johnson & Johnson is the latest in a series of companies, including Pfizer (PFE), Merck & Company (MRK), and Eli Lilly and Company (LLY), that have abandoned trials for their Alzheimer’s drug candidates.
Over the last few quarters, Johnson & Johnson (JNJ) has seen a number of factors affecting investor sentiments surrounding its stock. The company, however, posted strong results for the first quarter on April 17, exceeding analysts’ estimates. In this article, we’ll take a look at analysts’ recommendations on JNJ for the next 12 months.
Roche’s (RHHBY) MabThera/Rituxan reported revenues of 1.7 billion Swiss francs in the first quarter compared to 1.9 billion Swiss francs in the first quarter of 2017, which reflected a decline of ~8% YoY (year-over-year) on constant exchange rate basis.
Bridgewater Associates was close to bringing on Joseph Jimenez, the former chief executive of Novartis AG, but may back off in the wake of public revelations about his role in payments to President Donald Trump’s personal attorney, people familiar with the matter said. Mr. Jimenez has been thrust into the international spotlight in recent weeks for directing $1.2 million to Mr. Trump’s attorney, Michael Cohen, who is under federal investigation.
Lisa DeLeonardo set a Google alert so she would know exactly when the first in a new class of migraine drugs was approved. It happened Thursday, when the U.S. Food and Drug Administration approved Amgen and Novartis’ application for erenumab, whose brand name is Aimovig. It’s an injectable drug touted as the first treatment designed specifically to prevent migraines, and is expected to be available to patients within a week for an annual price of $6,900.
Roche (RHHBY) announces positive data from two phase III studies on hemophilia drug Hemlibra which has further strengthened its hemophilia portfolio.
Investors seeking to preserve capital in a volatile environment might consider large-cap stocks such as Novartis AG (NYSE:NVS) a safer option. Big corporations are much sought after by risk-averse investorsRead More...
Migraine is one of the top 10 causes of years lived with disability globally. With Aimovig receiving FDA approval for treatment of migraine, investors' attention is on future regulatory decisions.
The biotech analysts at Cantor Fitzgerald have a packed calendar: here are some of the dates they’re tracking and why they’re important. Mallinckrodt PLC (NYSE: MNK ) is expected to release Phase 4 interim ...
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.
Michael Cohen's lawyers in a court filing say why they oppose the admission of Stormy Daniels' attorney, Michael Avenatti, to a New York federal court for the purpose of arguing her position. Cohen reportedly had files in his possession related to Daniels, whom he paid $130,000 for her silence about an alleged affair with President Trump, Cohen's longtime client. Avenatti recently released a report showing that Novartis, AT&T, Korea Aerospace Industries and Columbus Nova made payments to Cohen after Trump became president.
Mylan NV.’s (NASDAQ:MYL) most recent return on equity was a substandard 5.44% relative to its industry performance of 12.26% over the past year. MYL’s results could indicate a relatively inefficientRead More...
Greece's parliament has no jurisdiction to investigate the role of ten politicians in alleged bribes by Swiss drugmaker Novartis, lawmakers ruled on Saturday, in a controversy which has further polarized a deeply divided political landscape. Greek prosecutors were probing allegations from three individuals suggesting doctors and public officials had accepted kickbacks in a period spanning 2006 to 2015. Ten public officials who served under socialist and conservative governments over that period say the allegations, which they denied, was a 'sick' mud-slinging campaign fabricated by the leftist-led government.
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.
The Food and Drug Administration (FDA) announced a shame list of companies that try to block generic drugs in order to ramp up profits.
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.
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.
A blockbuster story about the whistleblower who revealed President Donald Trump’s personal lawyer received payments from various companies has placed attention on a fairly obscure unit with the Treasury Department that’s at the heart of regulating the financial system. The New Yorker’s Ronan Farrow interviewed someone he called a “law-enforcement official” who leaked, per the report, after not being able to find two suspicious-activity reports on Michael Cohen, who received big payments from AT&T, Novartis and Korea Aerospace Industries.
On January 16, Exelixis (EXEL) and Ipsen announced positive results from the CELESTIAL Phase 3 trial highlighting the statistically significant and clinically meaningful improvement in the trial’s primary end point of overall survival due to cabozantinib therapy compared to a placebo in second-line and third-line hepatocellular carcinoma (or HCC) patients.
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.
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 ...
In the first quarter, Exelixis’s (EXEL) Cabometyx witnessed more than a 20% sequential rise in prescription volume driven by both new patient starts and a robust rise in the total number of patients on the therapy. According to a report, ~295,000 people across the world are diagnosed with kidney cancer every year, while 134,000 kidney cancer patients die every year. According to the American Cancer Society’s Cancer Facts & Figures 2018, the annual incidence of kidney cancer in the United States is ~65,000, while the annual death toll of the disease is 15,000. Another report estimates that almost 70%–75% of renal cell cancer (or RCC) patients suffer from clear cell RCC.