Healthcare Review: Ariad, Isis Pharmaceuticals, Teva Pharmaceutical, Biogen Idec, Pharmacyclics Print E-mail
By Staff and Wire Reports   
Friday, 21 February 2014 15:34
U.S. stocks were little changed on Friday, with the S&P 500 facing resistance as it flirts with its record high, as company news dominated trading amid another soft reading on the economy. Home resales in the United States fell more than expected in January and hit an 18 month-low as the combination of cold weather and a lack of housing stock sidelined potential buyers. Traders continue to selectively dismiss weak economic data which is being blamed on the extreme weather that has affected large swaths of the U.S. territory.

Alexander J. Denner, the chief investment officer and founding partner of activist investor Sarissa Capital, has been given a 2-year term on Ariad's ($ARIA) board. Ariad will also be adding another independent director to its board, one who will be "selected by the Board and be subject to [Denner's] concurrence." Reuters reported two weeks ago Sarissa, which disclosed a 6.22% stake in Ariad in October, wanted at least two board seats ahead of Feb. 20 deadline for nominating directors.

Isis Pharmaceuticals ($ISIS) ISIS-SMN treatment appears to have increased muscle function in an ongoing multiple-dose Phase 1b/2a study of children with spinal muscular atrophy, interim results demonstrate. In addition, results from a biomarker assay show an increase of SMN protein (Survival of Motor Neuron) in the cerebral spinal fluid. The protein is particularly important for the maintenance of motor-neuron nerve cells, which control muscle movement. The results give Isis "further confidence to advance ISIS-SMNRx into a Phase 3 program" says CFO Lynne Parshall. That trial is due to start later this year.

Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA): The EMA's Committee for Medicinal Products for Human Use issues a positive opinion recommending marketing authorization for DuoResp Spiromax, setting the stage for final approval from the EC in the next few months.

Biogen Idec Inc. ($NASDAQ:BIIB): Those numbers are well higher than consensus $374M, says analyst Robyn Karnauskas, maintaining a Buy and $415 price target. Deutsche's FY14 calculations based on IMS data are for U.S. sales of $2B-$2.142B vs. consensus $1.652B.

Pharmacyclics, Inc. (NASDAQ:PCYC): Q4 results confirmed a strong launch for Imbruvica despite just six weeks on the market and approval in the smaller indication of relapsed/refractory mantle cell lymphoma, says analyst Robert Drbui, reiterating his Buy rating and raising the PT to $166 from $137. "We believe off-label usage in the larger chronic lymphocytic leukemia indication ahead of last week's approval was clearly evident, suggesting the strong underlying demand in this population."




"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

Add this page to your favorite Social Bookmarking websites
Digg! Reddit! Del.icio.us! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!

blog comments powered by Disqus
 

Newsletter