Pharmaceuticals companes Novartis (NYSE:NVS), AstraZeneca (NYSE:AZN), Sanofi-Aventis (NYSE:SNY), JNJ (NYSE:JNJ) and Bristol-Myers Squibb (NYSE:BMY) were among the high and low movers in the sector today.
The NYSE Drug index was trading close to level so far on the day.
Novartis (NVS) was leading the sector today, as of 2:50 PM EDT, trading at $60.46, gaining $0.89, or 1.49 percent.
AstraZeneca (AZN) was another top performer in pharmaceuticals, trading at $50.95, up $0.56, or 1.11 percent.
Also moving up on the day was Sanofi-Aventis (SNY), which was at $40.61, rising $0.56, or 1.40 percent.
Johnson & Johnson (JNJ) was among the worst performers in the sector, dropping to $65.73, down $0.53, or 0.80 percent.
Bristol-Myers Squibb (BMY) also continues to struggle, trading at $28.74, falling $0.09, or 0.33 percent.
Showing posts with label Novartis. Show all posts
Showing posts with label Novartis. Show all posts
Wednesday, May 4, 2011
Thursday, April 21, 2011
Biogen (BIIB) BG-12 Results Surprise, Shares Soar
Shares of Biogen Idec Inc are soaring today on the surprising results from a clinical trial of its experimental multiple sclerosis drug BG-12.
According to Biogen, results showed the drug, when given twice a day, cut the annualized relapse rate by 53 percent at two years compared with placebo, and lowered the rate of disability progression by 38 percent.
BG-12 is a pill that would compete with Gilenya, a drug launched recently from Novartis AG (NOVN); and laquinimod, an experimental pill being developed by Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA).
Biogen already sales drugs for multiple sclerosis called Avonex, which is injected, and Tysabri, which is infused.
Doug Williams, Biogen's head of research and development, said, "Based on the data we've seen so far, if we can replicate it in the next trial, I feel very comfortable that we will have a very competitive drug in the MS space."
Biogen also reported earnings, which excluding one-time items, came to $1.43 a share in the first quarter. Analysts were on average expecting earnings of $1.41 a share and revenue of $1.18 billion.
Biogen was trading at $104.01, up $17.44, or 20.15 percent, as of 12:47 PM EDT.
According to Biogen, results showed the drug, when given twice a day, cut the annualized relapse rate by 53 percent at two years compared with placebo, and lowered the rate of disability progression by 38 percent.
BG-12 is a pill that would compete with Gilenya, a drug launched recently from Novartis AG (NOVN); and laquinimod, an experimental pill being developed by Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA).
Biogen already sales drugs for multiple sclerosis called Avonex, which is injected, and Tysabri, which is infused.
Doug Williams, Biogen's head of research and development, said, "Based on the data we've seen so far, if we can replicate it in the next trial, I feel very comfortable that we will have a very competitive drug in the MS space."
Biogen also reported earnings, which excluding one-time items, came to $1.43 a share in the first quarter. Analysts were on average expecting earnings of $1.41 a share and revenue of $1.18 billion.
Biogen was trading at $104.01, up $17.44, or 20.15 percent, as of 12:47 PM EDT.
Tuesday, April 12, 2011
Novartis AG (NVS) Wins Panel's Backing
A U.S. panel unanimously backed the use of Novartis AG's (NYSE:NVS) Afinitor to treat patients with a rare type of pancreatic tumor.
The panel said Afinitor works sufficiently to outweigh potential risks, outside advisers to the FDA said in a 10-0 vote.
“I’m moved by the argument that there is really nothing else out there in this disease, but I’m also cautious because I do know that the tempo of this disease is extremely variable,” panelist Peter Choyke, chief of the National Cancer Institute’s molecular imaging program in Bethesda, Maryland, said.
Novartis won FDA approval for Afinitor in 2009 to treat patients with advanced kidney cancer who didn't respond to other treatments.
Novartis was trading at $55.32, up $0.13, or 0.24 percent, as of 2:26 PM EDT.
The panel said Afinitor works sufficiently to outweigh potential risks, outside advisers to the FDA said in a 10-0 vote.
“I’m moved by the argument that there is really nothing else out there in this disease, but I’m also cautious because I do know that the tempo of this disease is extremely variable,” panelist Peter Choyke, chief of the National Cancer Institute’s molecular imaging program in Bethesda, Maryland, said.
Novartis won FDA approval for Afinitor in 2009 to treat patients with advanced kidney cancer who didn't respond to other treatments.
Novartis was trading at $55.32, up $0.13, or 0.24 percent, as of 2:26 PM EDT.
Wednesday, March 16, 2011
AstraZeneca (AZN), GlaxoSmithKline (GSK) Pfizer (PFE), Novartis (NVS) Shrinking R&D Investment
With patents running out on many of their key drugs, pharmaceuticals like AstraZeneca (NYSE:AZN), GlaxoSmithKline (NYSE:GSK) Pfizer (NYSE:PFE) and Novartis (NYSE:NVS) are cutting back on their research and development spending and departments, as they won't be able to sustain them once the patents end.
Weak pipelines are part of the problem, along with the increasing difficulty in getting drugs they're working on approved for use.
Novartis announced today it is getting rid of about 500 jobs at its Horsham site in southern England, not long after Pfizer slashed R&D jobs at a major site in the country.
Consolidation of their R&D departments will be the practice in the near term for the large companies, as they face growing frustration from shareholders on the weak returns over the last several years.
GlaxoSmithKline was trading at $36.67, down $0.94, or 2.50 percent, as of 1:25 PM EDT. AstraZeneca was at $45.13, falling $1.20, or 2.59 percent. Novartis was trading at $52.88, dropping $0.79, or 1.47 percent. Pfizer was at $19.40, losing $0.36, or 1.85 percent.
Weak pipelines are part of the problem, along with the increasing difficulty in getting drugs they're working on approved for use.
Novartis announced today it is getting rid of about 500 jobs at its Horsham site in southern England, not long after Pfizer slashed R&D jobs at a major site in the country.
Consolidation of their R&D departments will be the practice in the near term for the large companies, as they face growing frustration from shareholders on the weak returns over the last several years.
GlaxoSmithKline was trading at $36.67, down $0.94, or 2.50 percent, as of 1:25 PM EDT. AstraZeneca was at $45.13, falling $1.20, or 2.59 percent. Novartis was trading at $52.88, dropping $0.79, or 1.47 percent. Pfizer was at $19.40, losing $0.36, or 1.85 percent.
Thursday, March 10, 2011
Pfizer (PFE), Merck (MRK) About to Die, Along with (NVS), (LLY), (AZN), (GSK), (FRX)?
To say the outlook for big pharma is bleak would be an understatement, as over the next couple years, major patents for key drugs at Pfizer (NYSE:PFE), Merck (NYSE:MRK) Novartis (NYSE:NVS) Eli Lilly (NYSE:LLY) AstraZeneca (NYSE:AZN), GlaxoSmithKline (NYSE:GSK) and Forest Laboratories (NYSE:FRX).
Pfizer (NYSE: PFE) has a huge task cut out for it. The company's blockbuster cholesterol treatment Lipitor, which loses patent protection in November, is the highest-selling drug in the world, and now the company has the tough mission of figuring out how to replicate its success.
Lipitor, launched in 1997, has fetched $10 billion in annual revenues to the company since then. The equation, however, would soon change when generic-drug makers begin selling cheaper versions. Plus, Pfizer's patent for Xalatan glaucoma drug also expires in 2011. So what's a huge pharma company to do?
The other victims
Fortunately, Pfizer is not alone in battling patent troubles. Other big pharmaceutical firms are also facing a similar challenge.
Merck's (MRK) asthma drug Singulair goes off-patent in 2012 while Novartis' (NVS) patents on its cancer drug Zometa and hypertension treatment Diovan are set for expiration in 2012. Eli Lilly's (LLY) schizophrenia drug Zyprexa goes off-patent in 2011. AstraZeneca's (AZN) patent on cholesterol drug Crestor is set to expire in 2012. GlaxoSmithKline's (GSK) Avandia and Forest Laboratories' (FRX) Lexapro are also slated to go off-patent next year. In other words, the patent expiration process is simply another reality of doing business in this particular line of work.
For these drugmakers that have relied heavily on their patented offerings to generate revenue, the next few years appear unusually daunting. One estimate suggests a total of more than 10 medicines would start facing generic competition from this year, resulting in a loss of nearly $50 billion in terms of annual sales of all these medicines put together.
Source
Pfizer (NYSE: PFE) has a huge task cut out for it. The company's blockbuster cholesterol treatment Lipitor, which loses patent protection in November, is the highest-selling drug in the world, and now the company has the tough mission of figuring out how to replicate its success.
Lipitor, launched in 1997, has fetched $10 billion in annual revenues to the company since then. The equation, however, would soon change when generic-drug makers begin selling cheaper versions. Plus, Pfizer's patent for Xalatan glaucoma drug also expires in 2011. So what's a huge pharma company to do?
The other victims
Fortunately, Pfizer is not alone in battling patent troubles. Other big pharmaceutical firms are also facing a similar challenge.
Merck's (MRK) asthma drug Singulair goes off-patent in 2012 while Novartis' (NVS) patents on its cancer drug Zometa and hypertension treatment Diovan are set for expiration in 2012. Eli Lilly's (LLY) schizophrenia drug Zyprexa goes off-patent in 2011. AstraZeneca's (AZN) patent on cholesterol drug Crestor is set to expire in 2012. GlaxoSmithKline's (GSK) Avandia and Forest Laboratories' (FRX) Lexapro are also slated to go off-patent next year. In other words, the patent expiration process is simply another reality of doing business in this particular line of work.
For these drugmakers that have relied heavily on their patented offerings to generate revenue, the next few years appear unusually daunting. One estimate suggests a total of more than 10 medicines would start facing generic competition from this year, resulting in a loss of nearly $50 billion in terms of annual sales of all these medicines put together.
Source
Monday, March 7, 2011
Pfizer (PFE), Merck (MRK), Eli Lilly (LLY) to go Acquisition Route?
with Pfizer (NYSE:PFE) alone about to lose $10 billion in revenue from the ending of its patent on Lipitor, Eli Lilly (NYSE:LLY) and Pfizer not getting approval for certain drugs in the pipeline, and Merck (NYSE:MRK) abandoning two of its major clinical trials, the question is what will replace the existing pipelines of the companies.
The answer appears to be they will have to closely watch their smaller competitors with drugs coming up, and from there make strategic acquisitions.
There is risk on both sides there, as they have the challenge of acquiring a smaller company before approval of a drug in order to beat their larger competitors to it, but also the risk of a drug thought to be viable not being approved.
Astrazeneca PLC (NYSE:AZN ), GlaxoSmithKline (NYSE:GSK), Novartis AG (NYSE:NVS) and Novo Nordisk (NYSE:NVO) and Bayer were all recently downgraded by Morgan Stanley (NYSE:MS) on similar concerns.
The answer appears to be they will have to closely watch their smaller competitors with drugs coming up, and from there make strategic acquisitions.
There is risk on both sides there, as they have the challenge of acquiring a smaller company before approval of a drug in order to beat their larger competitors to it, but also the risk of a drug thought to be viable not being approved.
Astrazeneca PLC (NYSE:AZN ), GlaxoSmithKline (NYSE:GSK), Novartis AG (NYSE:NVS) and Novo Nordisk (NYSE:NVO) and Bayer were all recently downgraded by Morgan Stanley (NYSE:MS) on similar concerns.
Wednesday, February 23, 2011
Biogen (BIIB), Elan's (ELN) Facing Massive Challenges
The number of cases of progressive multifocal leukoencephalopathy, or PML, in patients taking Biogen Idec (Nasdaq:BIIB) and Elan's (NYSE:ELN) Tysabri increased by nearly 12% in less than a month. Annualize that out, and it isn't a pretty picture.
The latest monthly update listed 10 new cases of PML, bringing the total count to 95. The brain infection has killed 20 of the 95 patients that have been stricken while taking the multiple sclerosis drug.
As the number of patients taking Tysabri increases, we're bound to see the PML cases increase, but the update for January was considerably higher than the last two updates; November had four new cases and December had six.
Of course, one month doesn't make a trend, and Biogen points out the overall rate is still fairly low at 1.16 per 1,000 patients.
The question is where does it cross the line from being an acceptable risk to being an unacceptable one. Tysabri is the best multiple sclerosis drug out there, but there's a point at which doctors and patients won't think the benefits outweigh the risk, and they'll head to other treatments such as Teva Pharmaceutical's (Nasdaq:TEVA) Copaxone, Novartis' (NYSE:NVS) Gilenya, and Rebif, which is sold by Merck KGaA and Pfizer (NYSE:PFE).
Full Story
The latest monthly update listed 10 new cases of PML, bringing the total count to 95. The brain infection has killed 20 of the 95 patients that have been stricken while taking the multiple sclerosis drug.
As the number of patients taking Tysabri increases, we're bound to see the PML cases increase, but the update for January was considerably higher than the last two updates; November had four new cases and December had six.
Of course, one month doesn't make a trend, and Biogen points out the overall rate is still fairly low at 1.16 per 1,000 patients.
The question is where does it cross the line from being an acceptable risk to being an unacceptable one. Tysabri is the best multiple sclerosis drug out there, but there's a point at which doctors and patients won't think the benefits outweigh the risk, and they'll head to other treatments such as Teva Pharmaceutical's (Nasdaq:TEVA) Copaxone, Novartis' (NYSE:NVS) Gilenya, and Rebif, which is sold by Merck KGaA and Pfizer (NYSE:PFE).
Full Story
Monday, December 20, 2010
Elan (NYSE:ELN) Pressured by Gilenya Launch
Elan Corp (NYSE:ELN) will be under pressure as a result of the impressive launch of Novartis' (NYSE:NVS) oral MS drug Gilenya.
Barclays noted, "We are maintaining our rating on Elan following review of SDI VONA prescription data, with focus on a strong U.S. launch of Novartis' (NYSE:NVS) oral MS drug Gilenya and its negative impact on Elan (NYSE:ELN) / Biogen's (Nasdaq:BIIB) Tysabri. The proprietary physician-level data from ImpactRx demonstrate that Gilenya, which was launched in October, has captured 23% of New Written Prescription Starts (NWRx) in November among neurologists. For Tysabri, we estimate that its NWRx share has fallen to 7% in November from 13% for YTD September period."
Barclays maintains an "Equalweight" on Elan Corp., which closed Friday at $6.00, up $0.15, or 2.56 percent. Barclays has a price target of $6 on them.
Barclays noted, "We are maintaining our rating on Elan following review of SDI VONA prescription data, with focus on a strong U.S. launch of Novartis' (NYSE:NVS) oral MS drug Gilenya and its negative impact on Elan (NYSE:ELN) / Biogen's (Nasdaq:BIIB) Tysabri. The proprietary physician-level data from ImpactRx demonstrate that Gilenya, which was launched in October, has captured 23% of New Written Prescription Starts (NWRx) in November among neurologists. For Tysabri, we estimate that its NWRx share has fallen to 7% in November from 13% for YTD September period."
Barclays maintains an "Equalweight" on Elan Corp., which closed Friday at $6.00, up $0.15, or 2.56 percent. Barclays has a price target of $6 on them.
Wednesday, December 15, 2010
Novartis (NYSE:NVS) Sweetens Alcon (NYSE:ACL) Offer
It appears Novartis AG (NYSE:NVS) will successfully acquire the remainder of the 23 percent of Alcon Inc. they don't own, adding a cash component to the deal, which is valued at $12.9 billion.
Overall the cost for Novartis will come in at around $51.6 billion.
The eye-care market is expected to grow faster than pharmaceuticals in the years ahead, the reason for Novartis' strong interest in Alcon.
Terms of the new deal are Novartis will guarantee minority shareholders $168 a share.
If the share value of Novartis shares drop, they will add cash to keep the acquisition price at $168 a share. If the share price of Novartis rises, then they'll reduce the current 2.8 shares offered in the deal.
Novartis chairman Daniel Vasella said, "With this step Novartis takes full ownership, becoming the global leader in eye care, a rapidly expanding, innovative platform based on the growing needs of an aging population."
Novartis was trading at $58.78, up $2.94, or 5.27 percent, as of 1:19 PM EST. Alcon was at $165.20, up $2.77, or 1.71 percent.
Overall the cost for Novartis will come in at around $51.6 billion.
The eye-care market is expected to grow faster than pharmaceuticals in the years ahead, the reason for Novartis' strong interest in Alcon.
Terms of the new deal are Novartis will guarantee minority shareholders $168 a share.
If the share value of Novartis shares drop, they will add cash to keep the acquisition price at $168 a share. If the share price of Novartis rises, then they'll reduce the current 2.8 shares offered in the deal.
Novartis chairman Daniel Vasella said, "With this step Novartis takes full ownership, becoming the global leader in eye care, a rapidly expanding, innovative platform based on the growing needs of an aging population."
Novartis was trading at $58.78, up $2.94, or 5.27 percent, as of 1:19 PM EST. Alcon was at $165.20, up $2.77, or 1.71 percent.
Tuesday, December 14, 2010
Barclays Maintans "Overweight" on Amgen (NASDAQ:AMGN)
Saying they see no read through to Xgeva, Barclays (NYSE:BCS) said they're maintaining their "Overweight" rating on Amgen (NASDAQ:AMGN).
Barclays noted, "We are reiterating our rating on shares of AMGN following failure of the AZURE study for competitor Novartis and ahead of bone met prevention data from AMGNs own study -147. We believe that failure of Novartis's Zometa to delay bone metastases in breast cancer has limited read-through to AMGNs -147 study for denosumab in prostate cancer and continue to believe that likelihood of success is greater than failure."
Amgen closed Monday at $54.11, up $0.22, or 0.40 percent. Barclays has a price target of $71 on them.
Barclays noted, "We are reiterating our rating on shares of AMGN following failure of the AZURE study for competitor Novartis and ahead of bone met prevention data from AMGNs own study -147. We believe that failure of Novartis's Zometa to delay bone metastases in breast cancer has limited read-through to AMGNs -147 study for denosumab in prostate cancer and continue to believe that likelihood of success is greater than failure."
Amgen closed Monday at $54.11, up $0.22, or 0.40 percent. Barclays has a price target of $71 on them.
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