38.28 -0.01 (-0.03%)
After hours: 6:49PM EST
|Bid||38.26 x 2900|
|Ask||38.41 x 1200|
|Day's Range||38.22 - 38.52|
|52 Week Range||33.97 - 44.94|
|Beta (3Y Monthly)||0.65|
|PE Ratio (TTM)||13.54|
|Earnings Date||Jan 27, 2020 - Jan 31, 2020|
|Forward Dividend & Yield||1.44 (3.79%)|
|1y Target Est||41.45|
The FDA approves Roche's (RHHBY) Tecentriq for expanded use. It grants priority review status to AstraZeneca (AZN) & Merck's (MRK) supplemental applications.
Glaxo (GSK) submits a new drug application to the FDA for its first-in-class attachment inhibitor fostemsavir, which is being evaluated for the treatment of HIV-1 infection.
Biotech giant Biogen Inc. created what one attendee called an “electric atmosphere” at an industry conference Thursday when it presented new data from its controversial and potentially industry-changing Alzheimer’s disease drug.
The FDA grants Breakthrough Therapy designation to Bristol-Myers Squibb's (BMY) Orencia for the prevention of moderate-to-severe acute GvHD in hematopoietic SCT from unrelated donors.
The companies both hit the dubious roster twice, but are joined by many of the biggest names in the drug industry Continue reading...
AbbVie stock fell on its $63 billion plan to acquire Botox-maker Allergan, which helps the pharmaceutical company diversify as Humira patents expire. So, is ABBV stock a buy right now?
Pfizer stock has tumbled, below other pharmaceutical stocks. Recent news has been upbeat with a drug approval and acquisitions. But the question remains: Is Pfizer stock a buy right now?
Astellas Pharma is paying $60 a share in cash for a gene-therapy stock that closed at $28.61 on Monday.
Merck's (MRK) sBLA for Keytruda gets FDA's priority review status to treat certain patients with high-risk, non-muscle invasive bladder cancer.
AstraZeneca's (AZN) Imfinzi, if approved for extensive-stage small cell lung cancer, can cater to a broader lung cancer patient population, which can bring in additional sales.
(Bloomberg Opinion) -- Drugmakers have spent years de-emphasizing heart medications in favor of higher-priced treatments for cancer and rare diseases. As America enters its most caloric season, it looks like that is starting to change, for now. Novartis AG made a particularly large commitment Sunday with its $9.7 billion purchase of Medicines Co. and its promising new cholesterol drug. Meanwhile, biotechnology company Amarin Corp.’s bet on its fish-oil-derived capsule Vascepa is starting to pay off: Its shares soared earlier this month after a Food and Drug Administration panel recently suggested the pill — which was shown to cut cardiac risk in a huge trial last year — be made available to millions of additional patients. Heart medicines are also key pipeline components or sales drivers at a number of big pharmaceutical companies as well, from Merck & Co. and Bayer AG to Pfizer Inc.Investment in cardiac medicines is positive for patients and public health; after all, heart disease remains the most significant cause of death in the U.S. There’s a reason that drugmakers had backed away, however. These companies will have to navigate a harsh market environment to keep this mini-renaissance alive. Effective heart disease medicines, including statins for cholesterol and drugs for high blood pressure, have become much cheaper as generic options have hit the market. That’s excellent for patients and health budgets, as expanded use of these drugs has been impactful enough to slow Medicare spending growth. But it makes things difficult for newer, higher-priced medicines to make inroads. Next-generation drugs need to prove they can add something on top of or substantially outperform cheaper options to have a chance at anything but niche success. They sometimes still struggle even if they do. Cardiovascular drugs take time to have an impact, and the American health-care system isn’t patient. People change health insurance all the time as they swap or lose jobs, pick a new plan, or have one selected for them. Health plans often focus on annual costs and don’t always want to pay extra for an uncertain benefit that might eventually save someone else money. That tendency is most pronounced in large markets, where rapid uptake of a new drug translates into substantial spending increases.Two relatively new cholesterol drugs — Praluent, from Sanofi and Regeneron Pharmaceutical Co., and Amgen Inc.’s Repatha — are the most significant recent cautionary tales. They were both approved in 2015 with high expectations and are effective medications, but the market balked at their high price and threw up barriers to access. The result was a glacial launch. Sales remain sluggish even after major price cuts. Medicine Co.’s inclisiran lowers cholesterol at a similar rate by using the same drug target as those medicines but requires far less frequent dosing. Novartis will have to find out whether convenience is enough to command a premium price and avoid the same commercial fate. As for Amarin, a drug-price watchdog called Vascepa a rare cost-effective option for heart disease earlier this year. That doesn’t guarantee a rapid ascent to blockbuster sales. The drug’s future is partially in the FDA’s hands. The exact language of the agency’s expanded approval will help determine how many new patients will get access. The bigger part is arguably once again up to health plans. They will decide how strictly to interpret the FDA’s guidelines, and whether patients will have to jump through hoops to get the medicine. The size of the potential patient population may inspire them to clamp down, cost-effectiveness be damned. The barriers to heart drugs are navigable. Novartis was likely inspired to pay up for Medicines because it managed the feat with its heart-failure treatment Entresto. Sales of the drug started extremely slowly, but are now growing at a respectable clip. There is a clear opportunity in this somewhat neglected space. Profiting from it might require a high risk tolerance and an extra measure of patience. To contact the author of this story: Max Nisen at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Before we spend days researching a stock idea we like to take a look at how hedge funds and billionaire investors recently traded that stock. Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by more than 10 percentage points since the end of the third quarter of 2018. This means hedge funds […]
Authorities released a new list of medicines that China’s government health system will pay for. The prices are significantly below U.S. and international norms.
Biotech stocks had a fairly robust November, with the iShares NASDAQ Biotechnology Index (NASDAQ: IBB ) advancing over 10% for the month. This compares to the 3% gains for the S&P 500 Index. The month ...
The UK’s competition regulator is trying to reinstate a record £90m fine against drug companies Pfizer and Flynn for raising the price of an anti-epilepsy drug by up to 2,600 per cent, after its decision was overturned last year. The case pits the regulator against big pharma and could set a precedent determining the extent to which UK and European competition regulators can limit drug pricing. It hinges on the price of phenytoin sodium pills, used by roughly 48,000 epilepsy patients in the UK to control seizures.
Pfizer Inc. (NYSE: PFE) today announced the efficacy and tolerability results from the subgroup analysis of Asian patients enrolled in the ARCHER 1050, a randomized, multicenter, multinational, open-label Phase 3 study evaluating the efficacy of VIZIMPRO® (dacomitinib) -- an epidermal growth factor inhibitor (EGFR) tyrosine kinase inhibitor (TKI) -- as first-line monotherapy in patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) with EGFR-activating mutations. The results, which were announced at ESMO Asia Congress 2019, show significant prolongation of progression-free survival (PFS); and an extended follow-up demonstrated significant improvement in overall survival (OS) with first-line dacomitinib versus gefitinib in Asian patients with EGFR-positive advanced NSCLC.
Eleven drugmakers led by Pfizer and Novartis have set aside a combined $2 billion to invest in gene therapy manufacturing since 2018, according to a Reuters analysis, in a drive to better control production of the world's priciest medicines. The full scope of Novartis' $500 million plan, revealed to Reuters in an interview with the company's gene therapy chief, has not been previously disclosed.
Pfizer Inc. invites investors and the general public to listen to a webcast of a discussion with Mikael Dolsten, Chief Scientific Officer and President, Worldwide Research, Development and Medical, and Michael Vincent, Senior Vice President and Chief Scientific Officer, Inflammation and Immunology, at the Evercore ISI 2nd Annual HealthCONx Conference on Wednesday, December 4, 2019 at 10:15 a.m. Eastern Standard Time. Information on accessing and pre-registering for the webcast will be available at www.pfizer.com/investors beginning today. Visitors will be able to listen to an archived copy of the webcast at www.pfizer.com/investors.
The full scope of Novartis' $500 million plan, revealed to Reuters in an interview with the company's gene therapy chief, has not been previously disclosed. It is second only to Pfizer, which has allocated $600 million to build its own gene therapy manufacturing plants, according to filings and interviews with industry executives.