85.48 -0.68 (-0.79%)
Pre-Market: 4:56AM EDT
|Bid||85.95 x 2400|
|Ask||86.02 x 1400|
|Day's Range||85.85 - 86.61|
|52 Week Range||66.93 - 86.90|
|PE Ratio (TTM)||31.46|
|Forward Dividend & Yield||2.72 (3.16%)|
|1y Target Est||N/A|
The FDA has approved a new cancer treatment developed by Gilead's $11B acquisition Kite Pharma. Yahoo Finance’s Alexis Christoforous, Rick Newman, and Nicole Sinclair have more.
Gilead Sciences' Kite will make a futuristic one-time dose that claims to cure a rare blood cancer in a few weeks. It costs about a third of a million dollars.
Swiss drugmaker Novartis AG plans to reduce or drop production of some generic drugs and will close its 450-employee Sandoz plant in Broomfield over the next two years as a result. The Sandoz facility has been in Broomfield for 42 years. Novartis (NVS) plans to consolidate production of drug ingredients at a sister plant in Wilson, North Carolina, and shut down the Broomfield manufacturing plant by the end of 2019, the company said.
Less than two months ago, Gilead Sciences (GILD) announced an almost $12 billion deal to buy Kite Pharma. Late yesterday, the FDA approved Kite’s CAR-T cancer therapy for adults with advanced lymphoma. It uses genetically-engineered T-cells to attack cancer cells, and it is only the second such therapy to make it through the FDA.
Swiss drugmaker Novartis is to cut 450 jobs in the United States over the next two years as it gradually shuts a generics manufacturing plant in Colorado and discontinues some products in the face of intense price pressures. "To remain competitive in the U.S., Novartis will discontinue or divest limited growth products in saturated markets," a company spokesman said on Thursday. The shutdown of Novartis's Sandoz division plant in the Denver suburb of Broomfield was originally reported by the Denver Post.
Gilead Sciences’ $11 billion bet on Kite Pharma is poised to pay off, with the approval of Kite’s flagship cell-therapy treatment for advanced lymphoma patients.
U.S. regulators approved on Wednesday a new therapy for a type of lymphoma, which was developed by Gilead Science Inc's Kite Pharma, marking the second approval for this potentially revolutionary approach to fighting cancer. The Food and Drug Administration approved the gene therapy, to be sold under the name Yescarta, to treat adults with large B-cell lymphoma, a type of non-Hodgkin lymphoma, who have failed to respond to other treatments.
The Food and Drug Administration just approved Yescarta, a treatment that genetically modifies a patient's own white cells to battle lymphoma. The price? $373,000.
Large-cap pharmas are expected to report encouraging third-quarter results, following J&J's earnings beat. Five out of the six companies are expected to deliver earnings beat this quarter.
Gilead's new Kite Pharma unit is a leader in cutting-edge CAR-T therapy that fights cancer by rebuilding a patient's cells. Here's how its treatment stands out and who it helps.
Markets barely reacted when Gilead Sciences Inc. (NASDAQ:GILD) announced on Sept. 14 that it would buy Kite Pharma, Inc. for $11.9 billion. The slowdown in Gilead’s HCV business is starting to come to an end. The HCV segment will continue adding meaningfully to Gilead’s cash flow, which is money it needs to fund the Kite acquisition.
Novartis (NOVN.S) has decided not to sell its roughly $14 billion (10.61 billion pounds), 33 percent voting stake in Roche (ROG.S) following a review, Chairman Joerg Reinhardt said in an interview published on Wednesday in Swiss newspaper HandelsZeitung. "We said we would review whether it makes sense to sell the stake," Reinhardt told the newspaper. In May 2016, Chief Executive Officer Joe Jimenez said he was ready to sell the Roche stake without demanding a premium and that Novartis has been discussing options with banks.
Gene therapies like Spark Therapeutics' upcoming Luxturna and Novartis' FDA-approved Kymriah are raising concerns about the rising cost of health care, leading some experts to suggest new ways to price treatments based on the benefits they offer.
As of September 29, 2017, GlaxoSmithKline is trading at a forward PE (price-to-earnings) multiple of 14.2x, which is lower than the industry average of 15.7x.
Roche Holdings AG (RHHBY) announced that the FDA has accepted the company's sBLA and granted Priority Review for breast cancer drug regimen Perjeta