European stocks opened lower Friday as investors adopted a defensive stance ahead of key U.S. employment data amid a pullback in the dollar and increasing questions over the recent ‘Trump Rally’. The region-wide Stoxx 600 index, the broadest measure of European shares, slipped 0.2% by 08:30 GMT as benchmark indices drifted modestly lower across the board.
Category: Biotech
Amgen Wins Ban on Sanofi’s Praluent Cholesterol Drug Sales
Amgen Inc. won a court ruling blocking rivals Sanofi and Regeneron Pharmaceuticals Inc. from selling their cholesterol-lowering drug Praluent in the U.S. because it infringes Amgen’s patents covering a rival treatment. U.S. District Judge Sue Robinson in Delaware ordered Sanofi and Regeneron Thursday to halt Praluent sales for 12 years because the drug infringes patents on Amgen’s Repatha medication.
Amgen Wins Ban on Sanofi’s Praluent Cholesterol Drug Sales
Amgen Inc. won a court ruling blocking rivals Sanofi and Regeneron Pharmaceuticals Inc. from selling their cholesterol-lowering drug Praluent in the U.S. because it infringes Amgen’s patents covering a rival treatment. U.S. District Judge Sue Robinson in Delaware ordered Sanofi and Regeneron to halt Praluent sales for 12 years because the drug infringes patents on Amgen’s Repatha medication.
3 Reasons Geron Corporation Plunged 57% in 2016
The impetus for the fall can be traced to three catalysts. , it provided an update on the company’s two ongoing mid-stage studies, IMbark and IMerge.
The Scariest Thing About Bristol-Myers Squibb’s Dividend
With a current yield of 2.67%, investors still have reason to show the love. But there is something that might seem scary to some investors — the company’s ability to keep the dividends flowing at current levels.
Saunders Paints Realistic Outlook for Allergan in 2017
Having fallen short of earnings expectations in its third quarter, Allergan says non-GAAP earnings per share should see double-digit growth in the year ahead. Allergan offered some color on its outlook for the year ahead on Thursday, and according to at least one company follower, the cautiousness of CEO Brent Saunders ought to be well received after the company widely missed its third quarter earnings target.
Ono Pharma’s Wild 2016 Ride Cuts Stock Valuation by $16 Billion
Having surged as much as 34 percent as of mid-April, the stock finished the year down more than 41 percent, marking its worst performance in more than 50 years. The swing reduced its market capitalization by about 1.87 trillion yen from a record high in April.
The reasons we don’t study gun violence the same way we study infections
Three decades ago, a pair of researchers wrote in one of the country’s leading medical journals about a common cause of death and injury in the United States that received very little federal funding. “A thorough review of research awards for 1983 failed to identify a single research project on the topic of firearm injuries,” the authors wrote after scouring a database of the research funded by the National Institutes of Health.
The reasons we don’t study gun violence the same way we study infections
Three decades ago, a pair of researchers wrote in one of the country’s leading medical journals about a common cause of death and injury in the United States that received very little federal funding. “A thorough review of research awards for 1983 failed to identify a single research project on the topic of firearm injuries,” the authors wrote after scouring a database of the research funded by the National Institutes of Health.
Analysts’ Actions — Medtronic, Nokia, Paccar, Verizon and More
AmerisourceBergen was upgraded to buy at TheStreet Ratings. You can view the full analysis from the report here: ABC .
Starbucks, Allergan, Amazon: Doug Kass’ Views
Doug Kass shares his views every day on RealMoneyPro. Click here for a real-time look at his insights and musings.
Biotech Stocks: What to Watch in 2017
You probably didn’t like 2016 very much if you owned biotech stocks. Many biotech stocks, including some solid ones, performed dismally.
3 Biotech Stocks That Turned $10,000 Into Over $100,000
Some biotech stocks have made shareholders a lot of money over the last decade. Few, though, have performed as well as Opko Health .
3 Troubled Companies and How to Play Them in the New Year
The share prices of Mylan, Sears and Endo International fell dramatically in 2016, and the companies face significant challenges ahead. On a day of light economic news, the three major indices fell slightly Friday.
Why ImmunoGen, Inc. Shares Rocketed Higher by 29%
Unfortunately, the reason for ImmunoGen’s surge higher remains a bit of a mystery. The closest thing to tangible news for ImmunoGen that would have the potential to move the company’s stock was a press release this past Wednesday, Dec. 28. The press release was a needed feather in the cap for lead drug candidate mirvetuximab soravtansine .
Why Cliffs Natural Resources, Groupon, and Alnylam Pharmaceuticals Slumped Today
Thursday was another sluggish day on Wall Street, with the Dow once again moving away from the 20,000 mark rather than toward it. Most major market benchmarks were down slightly on the day, as investors seemed content to coast into the end of the year as they wait to see whether things in 2017 will go as well as the recent stock market rally would suggest.
What Happened in the Stock Market Today
Fitbit shares spiked 7% following a rare piece of encouraging news about the fitness device maker’s holiday sales trends. Its activity tracking software was the second most-popular download among free apps on Apple ‘s iTunes this past week, beating such heavyweights as Snapchat, YouTube, and Instagram.
West Virginia settling drug suit against 2 more distributors
Two major prescription drug distributors have agreed to settle a West Virginia lawsuit alleging they fueled West Virginia’s opioid epidemic with excessively large shipments of painkillers into the state over several years.
Seattle Genetics Plunges After Drug Studies Halted on Deaths
Seattle Genetics Inc. plunged the most in five years after U.S. regulators halted several early-stage blood cancer studies following the deaths of four patients who suffered from liver damage. The Food and Drug Administration halted the trials testing Seattle Genetics’s acute myeloid leukemia, or AML, therapy, called SGN-CD33A.
Apple, Allergan, Twitter: Doug Kass’ Views
Doug Kass shares his thoughts on his latest ‘Best Ideas’ long and discusses how the market may have reached its Outer Limits. Doug Kass shares his views every day on RealMoneyPro.
Will 2017 Be Gilead Sciences Inc.’s Worst Year Yet?
The biotech stock is down over 25% in 2016. Sales for hepatitis C virus drugs Harvoni and Sovaldi are dropping like a brick.
Rising Rates May Hurt Small-Cap Biotech ETF Valuations
The Federal Reserve has hiked interest rates for the second time in a decade and plans to raise rates three more times next year. With higher interest rates, investors may find small-cap biotechnology exchange traded funds that track companies banking on a breakthrough drug less appealing.
Merck’s Ebola Vaccine Found to Protect Against Deadly Virus
An experimental Ebola vaccine manufactured by Merck & Co. was found to be highly protective against the deadly virus, showing promise in the fight against future outbreaks after an earlier epidemic killed thousands and highlighted a shortage of weapons to battle the disease.
J&J’s Decision to Walk Away Set Stage for Renewed Actelion Talks
Johnson & Johnson’s willingness to walk away from talks to acquire Swiss biotechnology company Actelion Ltd. for about $28 billion is the very thing that got the two sides back to the negotiating table. This week, amid rising pressure from shareholders, Actelion surprised investors and re-entered negotiations with J&J, which signaled a willingness to raise its offer if granted exclusivity, said people familiar with the matter.
Mylan, Teva Led Peers in – Anomalous’ Price Moves, Study Says
About one in 19 generic drugs sold in the U.S. during the past three years have undergone major price hikes that may be consistent with collusion, according to a wide-ranging study that comes in the middle of a sprawling Justice Department investigation into pharmaceutical price-fixing. Fideres Partners LLP, a London-based consultancy that works with law firms to bring litigation against companies, reported “anomalous pricing patterns” in scores of generic drugs sold in the U.S. from 2013 to 2016.
Actelion Enters Exclusive Takeover Discussions with J&J
Actelion said on Wednesday it has entered exclusive negotiations with U.S. healthcare company Johnson & Johnson regarding what the Swiss biotech company called a “possible strategic transaction”.
Impax Searches for a New CEO
Wilkinson steps down amid feds’ generic price fixing investigation. J. Kevin Buchi, who joined the board last month, tapped as interim CEO.
Harvard Bioscience an ‘Asymmetrical Long Shot’
One of the best parts of writing for Real Money is all the great people I get to meet. I have made some great friends with fellow contributors and Real Money subscribers over the years, and I enjoy hearing from everyone who writes and comments on my articles.
Finally Getting Back to a Stock Picker’s Market
The bulls continue to chug away with better than 2 to 1 breadth, but momentum is slowing. There are only about 140 stocks hitting new 12-month highs, as buyers are less inclined to chase.
The Most Expensive Drugs of 2016
Prescription drug prices have gotten out of control for many Americans and many insurers. Some drugs cost as much as premium sports cars.