|Bid||47.15 x 1800|
|Ask||48.00 x 3200|
|Day's Range||47.23 - 48.25|
|52 Week Range||38.16 - 48.25|
|Beta (5Y Monthly)||0.37|
|PE Ratio (TTM)||47.61|
|Earnings Date||Jan 31, 2017 - Feb 05, 2017|
|Forward Dividend & Yield||2.00 (4.18%)|
|Ex-Dividend Date||Nov 13, 2019|
|1y Target Est||50.00|
Epizyme (EPZM) gets a significant boost with the approval of Tazverik (tazemetostat) for the treatment of metastatic or locally advanced epithelioid sarcoma.
J&J (JNJ) announces mixed Q4 results. Roche's (RHHBY) lymphoma drug, Polivy and Novartis' (NVS) Mayzent for secondary progressive multiple sclerosis (SPMS) get approval in Europe.
(Bloomberg Opinion) -- Investors aren’t waiting for a definitive deal to end the mass of lawsuits against Bayer AG before snapping up the shares. The German life sciences group’s 75 billion euro ($83 billion) market value is up some 26 billion euros in seven months on hopes that thousands of claims related to its glyphosate-based Roundup weedkiller, accused of causing cancer, might be resolved in a settlement. There’s a risk that shareholder expectations are getting carried away.Talks about a deal do appear constructive, based on the tone of limited statements made by the legal mediator Ken Feinberg. Bayer’s lawyers have in some discussions proposed the firm pays $8 billion to settle existing suits and sets aside $2 billion for future claims, Bloomberg News reported Thursday. That was well received by the market, which pushed up Bayer stock as much as 4%. The $10 billion total is consistent with the cost that analysts have put on a settlement.What’s striking about Bayer is that despite its recent rally the stock still trades at a substantial discount to peers, and removing this would be worth much more than the settlement costs being discussed. The company trades at 9 times expected Ebitda. Its pharmaceutical peers command valuations of 11.2 to 17.5 times. Just getting to a valuation matching its cheapest counterparts would add about 20 billion euros of market value, after deducting the estimated cost of ending litigation. A re-rating toward the average of its peer group would see Bayer’s market value rise even more substantially.Investors are right to retain a degree of caution amid the evidence of progress. What Bayer’s lawyers put forward in talks is only a piece of the jigsaw. The number for a final cap on the cost of the glyphosate litigation remains unknown. Bayer has suggested it’s willing to fight if an acceptable figure cannot be agreed. Citing studies, the company says glyphosate is safe when used as directed. There remains a real possibility that the saga endures for longer than investors believe.The other difficult question is whether Bayer deserves a valuation more generous than that commanded by its cheapest peers — such as GlaxoSmithKline Plc, Sanofi and Roche Holding AG. The same management is in place that led Bayer into this mess via an overpriced $66 billion acquisition of U.S. seeds group Monsanto Co. (the owner of Roundup). The touted benefits of that deal, and the logic of marrying crop science and pharmaceuticals, are yet to manifest themselves fully in sales and profit.A premium valuation will need to be earned. From here, the gains to Bayer’s shares will depend on definitive progress both on the litigation — and on operational performance.To contact the author of this story: Chris Hughes at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Learn about the forces driving the Chinese economy. China has the second largest GDP in the world but is not nearly as developed as others in the top 10.
BEIJING/ZURICH Jan 22 (Reuters) - Roche said on Wednesday China had approved the import of its Kadcyla drug for breast cancer, another win for the Swiss drugmaker in its second-biggest market where rising demand has helped drive its increased sales and profit. Kadcyla, which also recently won expanded approval in the United States, Canada and Europe for more breast-cancer patients, is an antibody-drug conjugate (ADC), a class of therapies that combine monoclonal antibodies with cytotoxic chemical that in 2019 picked up momentum with a record number of U.S. approvals.
Glaxo's (GSK) BLA for belantamab mafodotin gains the FDA priority review status to treat heavily pre-treated patients with relapsed or refractory multiple myeloma.
An adviser to the European Court of Justice said on Wednesday that an agreement to settle a patent dispute between a pharmaceutical company and generic competitors may harm competition. The case relates to an agreement British drugmaker GlaxoSmithKline struck with generic drug companies to pay them over 50 million pounds to delay the potential entry of independent competitors to its antidepressant Seroxat.
GlaxoSmithKline may have harmed competition with agreements to delay the launch of generic versions of an antidepressant in exchange for payments, according to a senior adviser to Europe’s top court. The expert opinion, ahead of a European Court of Justice ruling this year, relates to the UK drugmaker agreeing to pay rivals more than £50m to postpone the launch of cheaper copycat alternatives to its antidepressant Seroxat, after its patent expired in 1999. Advocate-general Juliane Kokott on Wednesday said the so-called pay-for-delay deals between the drugmakers “may constitute a restriction of competition” and “may be an abuse of a dominant position”.
GlaxoSmithKline plc (LSE/NYSE: GSK) announced the US Food and Drug Administration (FDA) granted a priority review for the company's Biologics License Application (BLA) seeking approval of belantamab mafodotin (GSK2857916) for the treatment of patients with relapsed or refractory multiple myeloma whose prior therapy included an immunomodulatory agent, a proteasome inhibitor and an anti-CD38 antibody.
Drug companies are not making progress against the spread of antibiotic resistance at a scale and speed great enough to tackle the global health threat posed by superbugs, a key benchmark analysis found on Tuesday. The findings of a second Antimicrobial Resistance (AMR) Benchmark report showed that while a few pharmaceutical companies are expanding their efforts, change is not happening at the scale needed to radically impact the problem. In India, drug resistance exceeds 70% for many widespread bacteria, the AMR report said.
Recently on Mad Money Jim Cramer sat down with Emma Walmsley, CEO of GlaxoSmithKline Plc , the drugmaker with shares up 19% over the past year and a 4.3% dividend yield. Walmsley said GlaxoSmithKline continues to see progress and momentum and is generating a lot of positive data for patients. The company is the leading provider of vaccines around the globe and Walmsley was especially proud of a new vaccine for shingles, a painful disease that affects nearly one in three people over the age of 50.
GlaxoSmithKline expects its partnership with consumer genetics testing company 23andMe to have selected its first drug target and launched a clinical trial by the end of the year. providing genetic information and a way to eventually reach potential trial participants. GSK and 23andMe, which are exploring many potential drug candidates together, have not yet revealed the disease the first drug will be designed to treat.
Despite the pharmaceutical industry’s best efforts, its least-favorite plan to cut drug prices isn’t going away. Unrest over drug pricing hung like a shadow above this year’s J.P. Morgan Health Care conference.
Clovis' (CLVS) sNDA seeking label expansion of Rubraca to include BRCA-mutant advance prostate cancer gets priority review from the FDA. Stock up.
GlaxoSmithKline was downgraded to underweight from equal weight by Barclays, which said 2020 looks to be a much tougher investment year for the pharma giant without much growth. It's now expecting zero like-for-like sales growth a slight EPS downgrade, Barclays said. "Whilst dividend/FCF yields look attractive, the former is likely to remain a source of uncertainty and the latter elevated in the absence of a pipeline/growth story," the broker said.
(Bloomberg) -- U.K. drugmaker GlaxoSmithKline Plc hasn’t made plans to pursue an initial public offering of the consumer-health company it set up with Pfizer Inc. last year, a top executive said, distancing himself from remarks made by Pfizer’s chief executive a day earlier.The comments could expose a lack of communication between the two partners. Pfizer’s Chief Executive Officer Albert Bourla yesterday said he expected Glaxo to pursue an IPO in three to four years.“This is the time that we will be able to exit from this partnership, and I’m sure that this business will have a fantastic IPO,” Bourla said at the J.P. Morgan Healthcare Conference in San Francisco.An IPO isn’t the only option, said David Redfern, Glaxo’s chief strategy officer, in an interview at the meeting. Glaxo said at the time of the deal that it would separate and list the company within three to five years.“Actually we haven’t decided anything,” Redfern said Wednesday. “When we announced the deal, we said we expect it to separate within three years, but actually up to five years. And it’s entirely our decision.”Both Glaxo, the majority owner, and Pfizer, which has about a third of the business, are looking to focus on drug development. Recent shifts in the health-care business and in the broader economy have challenged a model in which drugmakers control every corner of home medicine cabinets.Redfern said the consumer business needed to focus on integration and growing sales, not a spinoff or IPO.“We don’t want it too distracted right now thinking about capital markets,” he said. “Whether it’s an IPO or just a straight spin, all options are on the table. We’ve literally had no discussion” with Pfizer on that topic.With annual sales of about $13 billion, the consumer venture has brought under one roof Advil painkillers, Tums stomach tablets, Sensodyne toothpaste and Nicorette gum.The world’s biggest supplier of over-the-counter medicines will be one of the industry’s only standalones, facing off with companies integrated into larger entities such as Johnson & Johnson, Bayer AG and Procter & Gamble Co.\--With assistance from Mark Schoifet.To contact the reporter on this story: Riley Griffin in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Drew Armstrong at email@example.comFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Pfizer Inc. is planning an initial public offering of its consumer-health joint venture with GlaxoSmithKline Plc in three to four years as the two drugmakers turn back toward the lab.Pfizer Chief Executive Officer Albert Bourla discussed the time frame for the IPO at the J.P. Morgan Healthcare Conference in San Francisco on Tuesday. The plan provides New York-based Pfizer with a clear exit strategy, he said.The world’s biggest supplier of over-the-counter medicines will be one of the industry’s only standalones, facing off with companies integrated into larger entities such as Johnson & Johnson, Bayer AG and Procter & Gamble Co.With annual sales of about $13 billion, it brings under one roof Advil painkillers, Tums stomach tablets, Sensodyne toothpaste and Nicorette gum.Both Glaxo, the majority owner, and Pfizer, which has about a third of the business, are looking to focus on drug development. Recent shifts in the health-care business and in the broader economy have challenged a model in which drugmakers control every corner of home medicine cabinets.Big pharma companies are increasingly focused on developing high-priced new medicines that draw on cutting-edge research in genetics and other fields. At the same time, the cost of researching new cures is climbing even as insurers and governments demand lower prices.On the consumer-health front, intense price competition online from the likes of Amazon as well as own-brand store products have dented margins in the U.S. and parts of Europe.When the deal was announced, Glaxo said it expected a listing within three years of its close, which took place last August.Glaxo shares rose less than 1% to 1,815 pence in London trading. (Updates with industry context in third and fourth paragraphs)To contact the reporter on this story: Mark Schoifet in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Drew Armstrong at email@example.com, Marthe FourcadeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
What a difference a year makes. The start of the annual J.P. Morgan Healthcare investor conference in 2019 brought a double-header of giant deals. In 2020, there was almost nothing.
Glaxo (GSK) submits an MAA in Europe for its investigational candidate fostemsavir, which is being developed for treating HIV-1 infection in heavily pre-treated adult HIV patients.
Gilead Sciences (GILD) entered into a technology license agreement with Xencor for use of XmAb antibody technologies in investigational agents for HIV.
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]