Category: Biotech

Pfizer Profit, Forecast Fall Short as Generics to Hurt Sales

Pfizer Inc. posted fourth-quarter earnings and a forecast for 2017 that were both short of analysts’ estimates, as the drugmaker said it will lose billions of dollars in revenue as products lose exclusive sales rights. Revenue in 2017 will be $52 billion to $54 billion, Pfizer said in a statement Tuesday, compared with the $54.3 billion average of analysts’ estimates compiled by Bloomberg.

Teva Plunges After U.S. Judge Invalidates Four Copaxone Patents

Teva Pharmaceutical Industries Ltd. plunged to the lowest in more than a decade following a U.S. court ruling that invalidated four patents on its best-selling multiple sclerosis drug Copaxone. The ruling, issued late on Monday, may open the door to generic competition for a drug that generates a fifth of Teva’s $20 billion in annual sales.

IEFA, EFU: Big ETF Inflows

Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Core MSCI EAFE ETF , which added 14,000,000 units, or a 4.5% increase week over week. Among the largest underlying components of IEFA, in morning trading today Teva Pharmaceutical Industries is down about 0.2%, and NXP Semiconductors is lower by about 0.2%.

Bristol-Myers Squibb Falls as It Cuts 2017 Outlook

Bristol-Myers Squibb on Thursday cut its guidance for 2017, saying it now expects adjusted earnings of $2.70 to $2.90 a share for the year, down from its previous guidance of $2.85 to $3.05. In the fourth quarter, the drugmaker posted earnings of $894 million, or 53 cents a share, compared with a loss of $197 million, or a loss of 12 cents, a year earlier.

Alcon, Once Gem Worth Over $50 Billion, Weighs on Novartis

Alcon, the eye-care business that Novartis AG acquired for more than $50 billion, is now weighing on Europe’s second-largest drugmaker. After more than a year of efforts to turn around the business, the Swiss company on Wednesday said it was considering all options for the embattled division, including a spinoff or initial public offering.

Newron in Talks to License Schizophrenia Drug Tipped Blockbuster

Newron Pharmaceuticals SpA has held initial discussions with potential partners about licensing an experimental drug to treat schizophrenia, a mental health condition with no cure. “We see a good chance of a licensing deal in the second half of the year,” Chief Executive Officer Stefan Weber said in a telephone interview late on Tuesday.

Novartis Mulls Options Including Spinoff, IPO for Eye-Care Unit

Novartis AG proposed buying back $5 billion of shares and said it’s considering separating its embattled eye-care division after projecting that sales this year at Europe’s second-biggest drugmaker will likely be largely unchanged from 2016. Earnings, excluding some expenses, will probably remain flat or decline by a “low single digit” percent in 2017 as its top-selling medicine faces increasing competition from cheaper copycat drugs, the Basel, Switzerland-based company said Wednesday in a statement.

Novartis Misses Q4 Earnings Estimate, Mulls Alcon Spin-Off

Novartis missed analysts expectations with its fourth quarter earnings but launched a $5 billion share buyback program and said it may sell its Alcon eye care unit. Novartis AG missed analysts expectations with its fourth quarter earnings but launched a $5 billion share buyback program and said it may sell its Alcon eye care unit.

EpiPen competitor to launch in February

A major competitor to EpiPen, the lifesaving allergy injection that has become the latest flashpoint in the debate over high drug prices, will launch on Valentine’s Day at a list price of $360 for a two-pack, the company KalA o announced on Thursday. For years, pharmaceutical company Mylan hiked the price on EpiPen — to $609 for a two-pack, enjoying a near monopoly on the growing allergy injection market.

5 Expensive Drugs That Could End Up in Trump’s Crosshairs

Donald Trump’s taking aim at drug companies that have increasingly found themselves in the hot seat because of sky-high drug price increases in the past. Last week, Trump likened the industry’s history of price hikes as akin to “getting away with murder,” and he hinted that significant changes to how government programs pay for medicine are afoot.

Jobless Claims and Trimming GLD: Best of Kass

In highlights from this week’s trading diary and posts, Kass tells us about how he’s selling some Allergan shares and how he feels about the jobless claims. Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas.

French M&A Fund Bets on Successful Deal in Syngenta Takeover

That’s according to OFI Asset Management, a Paris-based investor who’s looking to win big betting on a successful takeover of the Swiss pesticide maker. Even after a 11 percent rally in two months, Syngenta is still around 14 percent below ChemChina’s offer price of about $470 per share, which is composed of cash and a special dividend.

Valeant Sells $2.1 Billion in Assets to Ease Debt Burden

Valeant Pharmaceuticals International Inc. agreed to sell about $2.1 billion in assets in two deals, an important first step in the struggling drugmaker’s endeavor to get cash and begin easing its debt burden. L’Oreal SA, the Paris-based cosmetic giant, will pay Valeant $1.3 billion for three skin-care brands, according to a statement Tuesday.

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After the company reported in December that a key late-stage drug had come up short in trials, a sharp sell-off caused Opko Health to finish the fourth quarter down 12.2%, capping a 7.5% loss for the year,according to S&P Global Market Intelligence . Opko Health is run by billionaire CEO Phillip Frost, and until recently, Frost has been very successful at commercializing clinical-stage drugs that he’s purchased for Opko Health at bargain prices.

Valeant to Sell $2.1 Billion in Assets to Pay Down Debt

Valeant Pharmaceuticals International Inc. agreed to sell about $2.1 billion in assets as the embattled Canadian drugmaker seeks to streamline its businesses and ease its debt burden. L’Oreal SA will pay Valeant $1.3 billion for three skincare brands, the Paris-based company Tuesday said in a statement.

Secretive Biotech Unicorn Moderna Unveils Pipeline, Financials

Moderna Therapeutics Inc., one of the best-funded private biotechnology companies in the U.S., unveiled its long-secret research and development pipeline on Monday, including experimental vaccines, cancer treatments and a cardiovascular therapy. The Cambridge, Massachusetts-based startup has about $1.3 billion in cash on hand from investors, pharmaceutical partners and government grants, according to a presentation Monday at the J.P.Morgan Chase & Co.

Here’s Why Alnylam Pharmaceuticals Plunged 59.8% in 2016

That was a far worse decline than the 19% loss by the biotech sector, in general, as measured by the iShares Nasdaq Biotechnology ETF While Alnylam’s share price was weak through the first nine months of the year, investors can mostly chalk that up to the general sell-off in biotech. However, the company’s stock was decimated in October after the company reported a major clinical setback.

Why Regeneron Pharmaceuticals, Sears Holdings, and Shake Shack Slumped Today

Friday was another record day for the stock market, with the Dow climbing above 19,999 without quite making it the final point higher to 20,000 before falling back toward the end of the day. A mixed jobs report seemed to give investors the perfect balance between economic strength and weakness, and market sentiment remained positive to frustrate those who had anticipated a quick pullback from the post-election rally once 2017 began.

Carlyle Said Exploring Sale of Vitamin-Maker Nature’s Bounty

Carlyle Group LP is exploring a sale of nutritional-supplements maker Nature’s Bounty Co., whose brands include “MET-Rx” and “Pure Protein,” people with knowledge of the matter said. The private equity firm has held talks with potential advisers about selling the U.S. company, formerly known as NBTY Inc., according to the people.

5 Stocks Setting Up for Big Breakouts

Trading stocks that trigger major breakouts can lead to massive profits. Once a stock trends to a new high, or takes out a prior overhead resistance point , it’s free to find new buyers and momentum players which can ultimately push the stock significantly higher.

Carlyle Said to Explore Sale of Vitamin Maker Nature’s Bounty

Carlyle Group LP is exploring a sale of nutritional-supplements maker Nature’s Bounty Co., whose brands include “MET-Rx” and “Pure Protein,” people with knowledge of the matter said. The private equity firm has held talks with potential advisers about selling the U.S. company, formerly known as NBTY Inc., according to the people.

Cheating Death Can Cost $200,000 as Cancer Tops Pharma Sales

Years before becoming a top cancer specialist, Eric Winer used to save money on his own medical care by talking U.S. pharmacists into giving him expired treatments for free. Winer, who has a bleeding disorder known as hemophilia, knew the drugs would still work for a brief time after the official use-by date.