Market Currents

• Thursday, December 3, 2009

• 10:57 AM AstraZeneca (AZN +0.2%) buys rights to Targacept's (TRGT -12%) experimental antidepressant (TC-5214) in a deal worth up to $1.24B, boosting its pipeline and slapping a big endorsement on its U.S. biotech partner's drug. Targacept will receive $200M upfront, $540M for reaching first commercial sale, and another $500M for hitting sales milestones. Comment!

• Thursday, October 29, 2009

• 09:05 AM AstraZeneca (AZN): Q3 EPS of $1.46 beats by $0.06. Revenue of $8.2B (+5.5%) vs. $7.9B. Sees full-year core EPS of $6.20-6.40 vs. consensus of $5.99. Shares +0.7% premarket. (PR) Comment!
• 00:05 AM Notable pre-market earnings: ABX, AEP, AET, AGN, AN, APA, AVP, AYE, AZN, BC, BCRX, BKC, BPO, CL, CLI, CME, CMS, COCO, COT, DLR, EK, EXPE, FNFG, GTI, K, KBR, MCO, MOT, MPS, MWW, MYL, NBL, NEM, NRG, ODP, OMX, PCG, PDE, PG, PPL, PTEN, RDS.A, S, SII, TSM, VTR, WMB, XEL, XOM Comment!

• Friday, October 23, 2009

• 13:13 PM Vaccine makers GlaxoSmithKline (GSK), Sanofi-Aventis (SNY) and AstraZeneca (AZN) report earnings next week, and all expect a lift from H1N1 vaccines and flu drugs along with other healthcare firms. Even so, production delays and a regulatory problem are straining U.S. vaccine supplies. 1 Comment

• Friday, October 16, 2009

• 14:16 PM The Alabama Supreme Court overturns fines of more than $274M levied against AstraZeneca (AZN), Novartis (NVS) and GlaxoSmithKline (GSK) for allegedly tweaking drug prices to overcharge state Medicaid. 3 Comments

• Monday, September 21, 2009

• 09:08 AM Nektar Therapeutics (NKTR +15% premarket) will receive up to $1.12B from AstraZeneca (AZN) for its NKTR-118 and NKTR-119 constipation drugs, including $125M upfront to license NKTR-118, another $235M if it achieves certain milestones, and $375M more if it hits commercial success milestones. Comment!

• Sunday, August 30, 2009

• 17:45 PM AstraZeneca's (AZN) experimental anticlotting heart drug Brilinta outperforms $8.6B seller Plavix (SNY, BMY) by 16% in a Phase III study released this weekend, while remarkably showing no increase in bleeding complications. Effient, a new contender from Eli Lilly (LLY), also outdid Plavix, but at the price of increased bleeding risk. 1 Comment

• Thursday, July 30, 2009

• 06:37 AM AstraZeneca (AZN): Q2 EPS of $1.64 beats by $0.24. Revenue of $8B (+0%) vs. $7.8B. Shares +3.5% premarket. (AstraZeneca's press release (.pdf)) Comment!
• 00:05 AM Notable earnings before Thursday's open: ABC, ABX, ADP, ALU, AOC, APA, ARTG, AVP, AVY, AZN, BC, BCRX, BDX, BEN, CI, CINF, CL, CLI, CMI, CMS, CNX, COL, COV, CVC, DLR, DOW, EK, ENDP, EXPE, FAF, GT, GTI, HP, INCY, IP, IRM, K, KBR, KIM, KSU, LVLT, MA, MOT, MYL, NBL, NRG, NWL, NYX, OCR, OMX, OSK, PCZ, PH, PTEN, RDS.A, RGC, RYN, SBH, SNE, SPR, TEN, TRV, TSM, TYC, VTR, WMI, WYNN, XEL, XOM Comment!

• Monday, June 1, 2009

• 10:43 AM Merck (MRK) and AstraZeneca (AZN) plan to team up to test a new cancer drug cocktail still several years away from reaching the market. 1 Comment

• Monday, May 11, 2009

• 12:41 PM In a large clinical trial, AstraZeneca's (AZN) experimental heart pill Brilinta beats Plavix (marketed by SNY and BMY) at preventing heart attacks and strokes. Plavix was 2008's second biggest drug, with $8.6B in sales. AZN +6.1%. SNY -0.5%. BMY -0.7%. 1 Comment
• 09:00 AM Premarket gainers: CNO +33%. HEB +30%. CNB +28%. PMI +20%. ALTI +17%. HBAN +11%. BBI +8%. UCBH +7%. AZN +6%. PBCT +5%. CF +4%. FITB +4%. NVAX +4%. Comment!

• Thursday, April 30, 2009

• 08:23 AM AstraZeneca (AZN): Q1 net profit of $2.1B vs. consensus of $1.8B. Revenue of $7.7B (flat), in-line. Reiterates full-year guidance. Shares +2.5% premarket. (MW) Comment!
• 00:05 AM Notable earnings before Thursday's open: APA, ASH, AZN, BC, BWA, CAH, CELG, CI, CINF, CL, CLI, CMCSA, CMS, COCO, COV, CTL, D, DLR, DOW, EK, ENTG, EQT, ERIC, EXPE, FAF, GTI, HOT, HP, IP, IRM, K, KBR, KIM, KSU, LKQX, LNT, MRO, MOT, MYL, NBL, NEM, NRG, NWL, NYX, OC, OCR, OMX, OSK, PDE, PEI, PG, PTEN, RGC, RYN, SEPR, SPR, SWY, TRV, TSM, TYC, VIA.B, WMB, WPI, XEL, XOM Comment!

• Monday, April 27, 2009

• 08:00 AM Biotech stocks with swine-flu upside: NVAX +123% premarket. BCRX +73%. GSK +3%. AZN +3%. 1 Comment

• Monday, March 30, 2009

• 08:37 AM A clinical trial finds AstraZeneca's (AZN) cholesterol-lowering drug Crestor significantly reduces the risk of a potentially fatal blood-clot disorder. Crestor sales reached $3.6B last year. Comment!