The accompanying table of FDA decision dates is updated to include the following: 1) XenoPort (XNPT) withdrew its NDA for restless leg syndrome drug Solzira for what appears to be a minor, administrative delay to reformat some trial data at the agency's request which will also delay $23M in milestone payments from partner GlaxoSmithKline (GSK); 2) Discovery Labs (DSCO) Surfaxin NDA will undergo a Class II review with a decision deadline pushed out to 4/17/09; 3) Genentech (DNA) filed for accelerated approval of Avastin as a s
Roche (RHHBY) has affirmed its intentions of buying the remaining 44% of Genentech (DNA) that it does not already own for $43.7B or $89 per share, which DNA rejected earlier this summer as undervaluing the company.
A Paradigm Shift for Statin Drugs
AstraZeneca reported results from a large-scale clinical trial dubbed JUPITER, demonstrating that its cholesterol-lowering statin drug Crestor caused a significant decrease in the incidence of cardiovascular events (e.g. heart attacks, strokes, angioplas
The accompanying table presents an analysis and statistics for the 28 healthcare ETFs listed at the Yahoo! Finance ETF Center. As a group, the healthcare ETFs outpaced the overall market in the past year by more than 10%, posting an average loss of 26.5% compared to a loss of 37.4% for the S&P 500 SPDR ETF (SPY). The best performing healthcare ETF was the Biotech HOLDRs (BBH), thanks to a buyout bid for top holding Genetech (DNA) and solid earnings results this year for the number two position, Amgen (AMGN).
Shares of Amgen (AMGN) have moved into the green in after-hours trading following a late-day Wall Street sell-off that had the Dow tanking by over 500 points. As I wrote earlier today , Amgen was able to both exceed profit and sales expectations for 3Q08 and raise its full-year profit guidance as it had done three months ago when reporting 2Q08 results. Even with the current pop in after-hours to around $54 per share, Amgen is only trading at a PE of 12X on the mid-point of its 2008 profit guidance of $4.45 to $4.55 per share.Amgen poste
The accompanying table presents the ETFI Highly Defensive PerformIdex, which is structured as a market cap weighted, defensive growth index of 30 companies based in either the United States or Canada with the largest market capitalizations from each industry group (A-J) as specified below:
(A) Grocery Stores (1) (B) Consumer Staples (10) – Non-Food (2), Food (4), Tobacco (1), Alcoholic Beverages (1), and Non-Alcoholic Beverages (2) (C) Health Benefit Providers (3) – Managed Healthcare (1), Supplemental Health (1), and
I think the recent decline in Discovery Labs (DSCO) since the Company announced a minor delay in submitting a complete response to the FDA for an approvable ruling on Surfaxin represents a buying opportunity and bought some shares on Friday at $1.74 per share. Insider buying over the past two months (including a 75,000 share buy from the CEO at $1.87) demonstrates management's confidence in already meeting the FDA's requirements and the plan to submit a complete response to FDA for Surfaxin, which should now occur by about the third
TheStreet.com's Jim Cramer says the biotechs look sweet in a bank-led slowdown.
Thank you, New York Times. Remember just a couple of weeks ago, when The New York Times wrote about how Genentech's (NYSE: DNA) (Cramer's Take) Avastin was too expensive and the stock got cracked down to $77? I know Roche did. I bet that was the last draw. The dramatic decline in the dollar plus a sentiment that has spawn...
Per the S&P: Although we consider DNA a core biotechnology holding, we see the shares as appropriately valued, given slowing growth trends across the product portfolio.We see recent FDA accelerated Avastin approval in metastatic breast cancer supporting the shares, preserving prior offlabel prescribing, and expect full approval as new studies confirm progression-free survival trends.We remain positive on DNA's long-term pipeline, with 15 new compounds entering clinical study in the first two years of a five-year, 30 new compound goal, and see DNA well positioned to benefit from robust fr...
A closer look at clothing retailers American Eagle Outfitters (AEO) and Abercrombie & Fitch (ANF) suggests the future may be less grim than expected, especially for ANF.
We are reiterating our rating on Genentech at Buy, and keeping our target price at $86 / share. We remind investors that we upgraded the name in February based on the Accelerated Approval of Avastin for 1st-line metastatic breast cancer. Our EPS forecasts for 2008 through 2012 have been adjusted higher based on expected higher sales of Avastin going forward. We are also encouraged by the recent positive data on Rituxan in multiple sclerosis (MS). Genentech is the world s premier biotechnology company. The stock has struggled over the past several quarters. Howe...
Najarian approved of INTC valuation and would also buy CSCO. Seymour commented on the two companies’ international exposure. Najarian thinks YHOO will slowly rise. Macke says Bill Miller and shareholders are have more power over Yahoo than its management, and he thinks it is time to leave
Najarian approved of INTC valuation and would also buy CSCO. Seymour commented on the two companies’ international exposure. Najarian thinks YHOO will slowly rise. Macke says Bill Miller and shareholders are have more power over Yahoo than its management, and he thinks it is time to leave
3 Clean Energy Stocks For An Obama Presidency
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