Category: Pharmaceuticals

Is This The Best Biotech Play for 2017?

Last year, a political spotlight on drug pricing policies threatened the entire industry. Scandals at Mylan and Valeant Therapeutics did damage to the entire sector, sending the share prices of many biotech companies down.

Bayer Sells $1.5 Billion in Covestro Stock to Trim Debt

Bayer AG sold 1.46 billion euros worth of shares in plastics maker Covestro AG to gain financial leeway as it seeks clearance for its $66 billion takeover of agriculture giant Monsanto Co. Bayer sold 22 million shares for 66.50 euros each, paring its stake in its former division to 53.3 percent, the German conglomerate said in a statement on Wednesday.

Biotech Premarket Movers: Impax, Clearside Biomedical, Mylan

Shares of Impax Laboratories were down 19% to $11.50 in premarket trading on Wednesday after the company reported results and said it is not issuing 2017 guidance for total revenue and EPS because of ongoing revenue volatility in its generics unit. The Fort Washington, Pa.-based firm reported fourth-quarter adjusted earnings per share of 16 cents on revenue of $198.4 million.

Teva Said to Consider Options for Branded Generics Unit

Israeli drugmaker Teva Pharmaceutical Industries Ltd. is weighing options including a sale of its branded generics products business as it works to reduce debt, according to people familiar with the matter. The business could be valued at several billion dollars, and Teva may also consider spinning off the unit, the people said, asking not to be identified because the deliberations are private.

Teva Loses CEO, Leaving Investors to Guess What’s Next

Teva Pharmaceutical Industries Ltd. announced the departure of its chief executive officer after just three years and said it would undertake a thorough review of its business, leaving the world’s largest generic-drug maker without a permanent leader following lowered profit forecasts that sent the share price plunging. CEO Erez Vigodman has stepped down, and Chairman Yitzhak Peterburg will hold the job on an interim basis while a search is conducted for a successor, the Petach Tikva, Israel-based company said in a statement late Monday.

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.

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.