An experimental Ebola drug healed all 18 monkeys infected with the deadly virus in a study, boosting hopes that the treatment might help fight the outbreak raging through West Africa— once more of it can be made. "The level of improvement was utterly beyond my honest expectation," said one study leader, Gary Kobinger of the Public Health Agency of Canada in Winnipeg.» Read More
One day does not a full-fledged sector rotation make, but yesterday the big pharma stocks put on a show and in the early going today the curtain hasn't fallen. Pfizer even broke above 18 bucks!
At the risk of being ganged up on by the "Elanians" who will take umbrage with the fact that the biopharma team at Cowen and Company is not initiating coverage of the Irish drugmaker with a "screaming buy," I am blogging about the analysts' 50-page call on the stock today.
Shares of Merck, which have lost more than a third of their value so far this year, are under continued pressure this morning. They were at 60 bucks in early January. Today they're trading around $37. Big pharma analyst Rupesh Patel at UBS is downgrading the Dow component from Buy to Neutral because he thinks it's gonna be "range-bound near-term"...
Ahead of the long holiday weekend I thought this would be as good a time as any to once again go through the "Pharma's Market" mailbag. A couple of blog readers complained about my "short" story about Amgen.
In the world of nearly 400 publicly-traded biotechs, analyst coverage is especially important. Many of the firms are micro caps and when an analyst initiates coverage it can help put a baby biotech on investor and reporter radar screens.
When combing through Barron's over the weekend I always make it a point to check out the "Short Interest" tables when they appear. I'm curious, in particular, about the ups and downs in Dendreon. Right now it's 39th on Barron's list of the Top-40 largest short positions.
On another ugly day for the stock markets, beaten down shares of Dow component Merck rallied. The stock started picking up steam after the news broke late this morning that its late-stage experimental migraine headache drug essentially works just as well as an existing drug, but with fewer side effects.
FBR's Christopher Warren is out with a research note to clients this morning saying that Boston Scientific is doing deals. He writes that BSX is "reportedly bundling $1,100 (that's right, $1,100) Taxus stents with defibrillators and ultrasound devices."
Credit Suisse is out today with a "fat" report on obesity. Nearly 200 pages. But besides its size, the research also stands out as one of the most unique pieces of Wall Street analysis I've ever seen.
For the second time in three days the Food and Drug Administration has delayed making a decision on drugs that it had put on a fast track. First, the agency put off a ruling on Lilly's bloodthinner Effient and then this morning Merck announced the FDA is not ready to approve its cervical cancer vaccine Gardasil for older women.
Tree huggers (just a colloquialism, not a dig) will be glad to know that biopharmaceutical companies submit their Food and Drug Administration filings for drug approval electronically these days.
As much as I tried to disconnect during my vacation last week, I couldn't escape the ubiquitous presence of pharmaceuticals in our everyday lives...
It never ceases to amaze me who reads Pharma's Market. Like the Stanford University professor who wrote to set the record straight regarding my coverage from ASCO of the brain cancer vaccine from Pfizer and Avant.
Pfizer shares continue to trade at new nearly 11-year lows over concerns the dividend might get cut, in addition to the lack of anything visible to replace Lipitor when it goes generic in a couple years or so. But on two of the op-ed pages in Wednesday's "Wall Street Journal" Pfizer got a plug.
Cancer, diabetes and Alzheimer's Disease. Three of the biggest areas of unmet medical need have been or will be in focus at a series of important scientific meetings in June or July.
First, last Friday, Novo Nordisk put out a press release saying preliminary data show its drug works better than Byetta. And then, yesterday an analyst downgraded the stock just ahead of the company's long anticipated release of long-term results on its once-a-week version of Byetta.
We are covering the ADA meeting today and tomorrow because most of the major data came out over the weekend or is coming out later today. Or so we thought.
"You continue--day after day--to knock the company at every opportunity. I understand you had a difficult relationship with the CEO before, but you shouldn't hold a grudge against the company for it..."
Despite at least a couple of analysts coming out with relatively bullish post-ASCO research notes on Pfizer's oncology drug pipeline, PFE shares have fallen to yet another new low intra-day and have crossed another threshold.
This year, for the first time ever, ASCO agreed to let CNBC broadcast live from inside McCormick Place. It took years of reasoning, pleading, nagging and complaining to get inside. But finally, ASCO consented. In the past, the scientific organization has tried to keep more than an arm's distance from the financial media.