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Johnson & Johnson (JNJ)

  • Thu, Jan. 15, 5:52 PM
    • DepoMed (NASDAQ:DEPO) +3.7% AH after agreeing to acquire the U.S. license rights to the painkiller Nucynta from Johnson & Johnson (NYSE:JNJ) unit Janssen Pharmaceuticals for $1.05B.
    • DEPO says it plans to reintroduce the drug, expand its sales force and promote Nucynta for both chronic pain and nerve damage caused by diabetes; DEPO says Nucynta has patent protection until 2022.
    • DEPO, which previously projected 2014 sales of $232M-$242M, says the deal will increase its 2014 pro forma net product revenue guidance by ~2.5x.
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  • Wed, Jan. 14, 8:25 AM
    • Ziopharm (NASDAQ:ZIOP) jumps 50% premarket on robust volume in response to its announcement of an exclusive license deal with partner Intrexon (NYSE:XON) (+12%) with The University of Texas MD Anderson Cancer Center covering technology and intellectual property related to non-viral adoptive cellular cancer immunotherapies. The technologies originate from two researchers who have pioneered the design and clinical investigation of chimeric antigen receptor (CAR) T cell therapies for the potential treatment of cancer using non-viral gene integration platforms.
    • The two researchers are Laurence Cooper, M.D., Ph.D, professor of pediatrics at MD Anderson who has expertise in immunotherapies and Perry Hackett, Ph.D., professor within the College of Biological Sciences at Minnesota, who discovered and developed a system called Sleeping Beauty, a non-viral DNA plasmid-based gene transfer system.
    • The deal brings the CAR-T technology together Intrexon's technology suite and Ziopharm's clinically tested RheoSwitch Therapeutic System interleukin-12 modules. Up to five CARs are expected to enter the clinic this year and off-the-shelf programming initiating in 2016.
    • Under the terms of the agreement, MD Anderson will receive $100M from the companies in the form of $50M of common stock from each firm. In addition, the companies have committed $15M - 20M over each of the next three years for researching and developing the technologies.
    • CAR-T therapies are the "next big thing" in cancer treatment.
  • Thu, Jan. 8, 11:53 AM
    • Investors show thinly-traded nano cap Epirus Biopharmaceuticals (EPRS +27.9%) some love after yesterday's positive Ad Comm vote for Sandoz's biosimilar filgrastim. Shares are up on a 6x surge in volume albeit on turnover of only 150K.
    • Epirus' lead product is BOW015 (infliximab), a biosimilar to Janssen's (JNJ +0.8%) Remicade. The product is currently marketed in India by Ranbaxy Laboratories Limited. A global Phase 3 trial to support regulatory submissions in other markets will commence this year.
    • Previously: FDA Ad Comm gives thumbs up to Sandoz biosimilar filgrastim (Jan. 7)
  • Mon, Jan. 5, 1:48 PM
    • Isis Pharmaceuticals (ISIS +8.1%) and Janssen Biotech (JNJ -0.6%) enter into a global collaboration to discover and develop antisense drugs to treat autoimmune disorders of the gastrointestinal (GI) tract. The partnership brings together Isis' RNA-targeted technology platform with Janssen's expertise in autoimmune disorders and therapeutic formulation.
    • Under the terms of the agreement, Isis will receive an upfront payment of $35M and will be eligible for almost $800M in development, regulatory and sales milestones and license fees. It will also receive tiered royalties that average double digits on commercial sales.
  • Nov. 13, 2014, 5:55 PM
    • Geron (NASDAQ:GERN) +30.7% AH on news it entered into an exclusive worldwide license and collaboration agreement to develop its blood disorder drug imetelstat with Johnson & Johnson (NYSE:JNJ) unit Janssen Biotech.
    • GERN says it will receive $35M upfront and could receive as much as $900M more as the drug is tested and if it is approved by regulators and reaches certain sales targets; it also would get royalties on sales of imetelstat.
    • The companies plan to start a mid-stage trial of imetelstat in 2015; they also want to study the drug as a treatment for other blood diseases.
  • Feb. 10, 2014, 7:56 AM
    • Addex Therapeutics' (ADDXF) ADX71149 treatment for anxious depression was not more effective than a placebo in a Phase IIa trial.
    • The results don't "support the further development of ADX71149 in anxious depression," Addex says, although the exploration of the drug for other purposes "remains of potential interest."
    • Johnson & Johnson (JNJ) unit Janssen conducted the trial.
    • The failure is a major blow, as anxious depression is a leading cause of disability worldwide.
    • Addex shares are -27% in Zurich. (PR)
  • Jan. 28, 2014, 5:15 PM
    • Medivation (MDVN) +8.2% AH after its Xtandi drug for advanced prostate cancer was found to significantly delay progression of the disease and extend survival in a large, late stage study of patients who had not yet received chemotherapy.
    • Xtandi (enzalutamide) already is approved to treat patients whose prostate cancer has spread and who had previously been treated with chemotherapy; approval for use prior to chemo could greatly expand the available patient population, significantly boost sales, and enable the drug to compete with Johnson & Johnson's (JNJ) Zytiga.
    • Sanford Bernstein says annual Xtandi sales eventually could exceed $3B with a pre-chemo approval.
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  • Jan. 21, 2014, 11:36 AM
    • Lower today amid a disappointing full year outlook, Johnson & Johnson (JNJ -1.7%) is a buy on the dip says RBC's Glen Novarro. The weak early-year guidance sets management up to beat and raise throughout 2014. "We continue to recommend [J&J] based on strong growth in pharmaceuticals and under-appreciated operating margins."
    • Earlier: Management guides to full-year EPS of $5.75-$5.85 vs. consensus $5.86.
  • Jan. 10, 2014, 10:43 AM
    • Ironwood Pharmaceuticals (IRWD +4.9%) upgraded to Outperform from Market Perform at BMO. Price target is $16.
    • Bristol-Myers Squibb (BMY +0.7%upgraded to Overweight from Equalweight at Barclays. Price target hiked to $65 from $52.
    • Sequenom (SQNM -3.4%) cut to Neutral from Overweight at Piper. Price target is $2.50.
    • BioMarin (BMRN -2.2%cut to Equalweight from Overweight at Barclays. Price target is $73.
    • Johnson & Johnson (JNJ -0.5%cut to Equalweight from Overweight at Barclays. Price target is $99.
    • Pfizer (PFE -0.6%cut to Market Perform at Cowen. Price target is $34.
    • Eli Lilly (LLY -0.4%) downgraded to Underweight from Equalweight at Barclays. Price target cut to $51 from $58.
    • H.C. Wainwright starts Celsion (CLSN +7.7%) at Buy. Price target is $8.
    • Orexigen (OREX +1.1%initiated at Buy with a $9 target at Wallachbeth.
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  • Jan. 7, 2014, 9:58 AM
    • BofA upgrades Perrigo (PRGO +1.2%) to Buy from Neutral. RBC starts the shares as a Top Pick, with a $187 price target.
    • BofA upgrades Becton Dickinson (BDX +0.8%) to Neutral from Underperform.
    • RBC upgrades Johnson & Johnson (JNJ +1.6%) to Outperform from Sector Perform. Price target is $104.
    • Citi upgrades Varian Medical (VAR +1.6%) to Neutral from Sell.
    • Roth starts ANI Pharma (ANIP +9.5%) at Buy. Price target is $27.
    • RBC starts Teva (TEVA +0.1%) at Sector Perform. Price target is $39.
    • RBC starts AcelRx (ACRX +2.5%) at Outperform. Price target is $15.
    • RBC starts Mylan (MYL +2.3%) at Outperform. Price target is $50.
    • RBC starts Allergan (AGN +1.3%) at Outperform. Price target is $131.
    • RBC starts Impax Labs (IPXL +0.2%) at Sector Perform. Price target is $25.
  • Nov. 14, 2013, 11:33 AM
    • Wedbush's Gregory Wade, an bull from way back, strikes a slightly more cautious tone on Pharmacyclics (PCYC +1.4%), removing the shares from the Best Ideas list a day after ibrutinib won FDA approval in MCL.
    • "While subsequent compendium listings ... in RR CLL/SLL may lead to a change to this policy, we expect the absence of support of about $8900/patient contribution under Medicare Part D payment to be a significant barrier to the near-term use of the drug in the larger off-label settings," Wade says, adding that "there's a good amount of off-label expectations baked into some of the Street's expectations."
    • Outperform rating is maintained. Price target is $165.
    • Concerns about the drug's cost seem warranted. At $90+ per pill, Imbruvica will cost around $130K/year. Here's TheStreet's Adam Feuerstein outlining some mitigating factors: "PCYC is setting up a program to offer two months of free drug to patients who encounter reimbursement problems and co-payment assistance plans for patients who cannot afford the drug."
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  • Nov. 1, 2013, 12:55 PM
    • Deutsche's Alethia Young thinks the rally in shares of Idenix Pharmaceuticals (IDIX +41%) may be attributable to the upcoming AASLD meeting which begins this weekend.
    • Here's Young: "IDIX has noted that they are not interested in an exclusive arrangement with JNJ or anyone else [but] we would assume that any HCV developer would be interested in a nuke."
    • IDIX's HELIX-1 trial is evaluating the company's NS5A inhibitor, samatasvirin in combination with JNJ's simeprevir.
    • Deutsche has the shares at Hold.
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  • Oct. 28, 2013, 10:09 AM
    • Medivation (MDVN +2.9%) is trading notably higher in early action.
    • The move looks to be attributable to a UBS urologist survey.
    • From the note: "Xtandi's safety profile is closer to other drugs commonly prescribed by urologists ... suggesting they may favor it vs. Johnson & Johnson's (JNJ) Zytiga."
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  • Oct. 15, 2013, 8:04 AM
    • Shares of Johnson & Johnson (JNJ) are up 1.8% premarket following the company's top and bottom line Q3 beat.
    • Domestic sales rise 1.7% for the quarter, while international sales jump 4.2%.
    • Diluted EPS +8.8% Y/Y.
    • Global consumer sales come in at $3.6B, up 2% Y/Y ex-currency impact.
    • Global pharmaceutical sales rise 10.9% (ex-currency impact) to $7B.
    • Worldwide medical devices sales of $6.9B rise slightly, but fall when adjusted for a negative currency impact of 2.3%.
    • FY13 EPS guidance raised to $5.44-5.49 from $5.40-5.47. Consensus is $5.46. (PR)
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  • Oct. 8, 2013, 3:04 PM
    • Johnson & Johnson's (JNJ -0.7%) purchase of GlaxoSmithKline's (GSK -1%) hepatitis C treatment sends Idenix Pharmaceuticals (IDIX -15.8%) tumbling. JNJ bought the rights to a compound in a class of drugs called non-structural 5A protein inhibitors, suggesting it's close to ending its partnership with Identix based on its hep C therapies, including the NS5A drug samatasvir, says Wells' Brian Abrahams.
    • "Hep C battle lines (are) being drawn,” says Abrahams. Idenix’s drug “will need a new partner.”
  • Sep. 26, 2013, 11:47 AM
    • All aboard the Pharmacyclics (PCYC +8.6%) bandwagon. JPMorgan's Cory Kasimov is out with new coverage at Overweight.
    • The stock "certainly isn't cheap," Kasimov notes (it's up more than 100% so far this year), but that doesn't stop him from predicting that it's about to get even less cheap: Price target is $142.
    • The rationale: It's all about Ibrutinib (developed with JNJ) which William Blair says may just be the "largest product in hematology oncology history."
    • "Investor appetite will persist based on the drug's multibillion-dollar sales potential," Kasimov says, adding that "on the regulatory front, ibrutinib is largely de-risked given its highly promising safety/efficacy profile and multiple Breakthrough Therapy designations." JPM expects approval this year.
    • More on Ibrutinib and Breakthrough Therapy here
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Company Description
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the health care field within its Consumer, Pharmaceutical and Medical Devices, and Diagnostics business segments.