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Novartis AG

6/20/2013, 5:05 AM ET

Quote & Headlines Market Currents StockTalk

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Sunday, June 16, 4:11 AM Incyte's (INCY) Jakafi cut the risk of death by 52% in patients with a blood cancer called Myelofibrosis in a Phase III follow-up study compared with subjects who received the best available alternative therapy. A Phase I/II trial showed "that long-term treatment with Jakafi may stabilize or reverse bone marrow fibrosis, a key marker of worsening disease in patients with myelofibrosis." Jakafi is marketed outside of the U.S. by Novartis (NVS). Comment! [Healthcare]
Tuesday, June 11, 7:42 AM Questcor Pharmaceuticals (QCOR) acquires the rights to develop the autoimmune drug Synacthen in the U.S. from Novartis (NVS) for an upfront payment of $60M. Additional payments of $75M plus certain milestone and royalty payments are expected going forward. QCOR shares +9.9% premarket, NVS is off 0.76%. (PR) 4 Comments [Healthcare, On the Move]
Friday, June 7, 1:24 PM Jefferies is out with some price target revisions and color after conducting a "global pharma review." Rundown: Top U.S. pick Abbott Laboratories (ABT +1.9%) reiterated at Buy, PT lowered to $44 from $46; top global pick Novartis (NVS +0.3%) has "positive growth inflection potential" in FY14; AbbVie (ABBV +0.6%), Roche (RHHBY.OB +2.5%), and Sanofi (SNY +0.5%) offer "attractive entry points" but ABBV's PT is lowered to $51 from $54; Johnson & Johnson's (JNJ +0.2%) PT lowered to $91 from $97; Merck (MRK -0.3%) has its price target raised to $56 from $54 and Pfizer (PFE +1.3%) has its target lowered slightly to $32. (Previous: Jefferies SOTP analysis) 3 Comments [Healthcare, On the Move]
Wednesday, June 5, 2:47 PM A study in the European Heart Journal suggests Alzheimer's drugs such as Pfizer (PFE -0.6%) and Eisai's (ESALF.PK) Aricept, Novartis' (NVS -1.3%) Exelon, and Johnson & Johnson's (JNJ -0.4%) Razadyne may reduce the risk of heart attacks and death. 2 Comments [Healthcare]
Friday, May 31, 5:43 AM A dispute is taking place within the FDA over whether a class of blockbuster cardiovascular drugs called angiotensin receptor blockers ((ARBs)) significantly increase the risk of cancer. On one side is Thomas Marciniak, who believes they do, and on the other are his bosses, who think the medicines are safe. Companies that make ARBs, which generated $7.6B in U.S. sales last year, include Novartis (NVS), Merck (MRK), Sanofi (SNY), Bristol-Myers Squibb (BMY) and AstraZeneca (AZN). Comment! [Healthcare, Top Stories]
Tuesday, May 28, 2:42 PM More from Jefferies' "proprietary sum of the parts analysis" of big pharma: Price target on Bristol Myers Squibb (BMY +0.7%) raised to $53.50 from $45, Buy rating reiterated; price target on Johnson & Johnson (JNJ +0.6%) raised to $97 from $90, reiterated at Hold; AbbVie (ABBV -0.5%) reiterated at Buy, price target raised to $54 from $51; Novartis (NVS -1.5%) is "top European pick"; price target for Abbott (ABT +1.3%), the "top U.S. pick", is raised to $46 from $43. (More big pharma: DB upgrades GSK) 1 Comment [Healthcare, On the Move]
Tuesday, May 28, 8:10 AM Add Eli Lilly (LLY) to Jefferies' big pharma upgrades, as the company is raised to Hold from Underperform (price target to $49 from $44) on a lack of near term downside risks and a healthy dividend. Nevertheless, expect FY14 EPS to come in 5-10% below consensus, analyst Jeff Holford says. Meanwhile, Merck (MRK), Abbott (ABT), and Novartis (NVS) are all top "restructuring plays." Jefferies says "the probability of significant spin-outs" for MRK should increase in 2014 and puts a sum-of-the-parts valuation of $54.30 on the stock. Comment! [Healthcare]
Wednesday, May 15, 8:28 PM Actavis (ACT), which has rebuffed overtures from both Valeant (VRX) and more recently Mylan (MYL), may soon receive a bid from Novartis (NVS), WSJ says. "Intense price competition and fewer opportunities to cash in on patent expirations," are fueling a consolidation scramble in the generic-drug industry, the Journal notes, and ACT — which is also playing the role of acquirer in negotiations with Warner Chilcott (WCRX) — is at the center of the deal-making rumor mill. Comment! [Healthcare]
Tuesday, May 14, 10:23 AM Shares of Insmed (INSM +3.6%) pop after the company says the European Patent Office will grant a patent on ARIKACE, the company's clinical stage, inhaled treatment for cystic fibrosis patients with lung infections. In an exhaustive rundown, SA contributor Scott Matusow claims the drug is a superior alternative to Novartis' (NVS) TOBI for a number of reasons and also says INSM could capture a significant portion of the $424M (annually) market for CF pseudomonas lung infection treatments if top-line Phase III results (due mid-year) show promise. Comment! [Healthcare, On the Move, Quick Ideas]
Tuesday, May 7, 4:02 PM Endo Health (ENDP +0.8%) is set to finish in the green today, despite posting a mixed Q1. Net earnings swung to a profit amid fewer write-downs and other items, as well as a modest revenue increase on strong generic sales growth. Generic sales +23% at $178M, while branded-pharmaceutical sales declined 2% to $358M. Lidoderm sales dropped 11%, mostly owing to its supply agreement with Actavis (ACT). Sales of Opana ER slumped 31% as sales continue to lag following a disruption early last year resulting from the closing of a Novartis (NVS) plant. Comment! [Healthcare, Earnings]
Monday, May 6, 1:36 PM Merck (MRK -1.3%) gets no love today from the FDA's approval of Liptruxet late Friday, as the stock is likely dragged down with the rest of the big pharma names on the back of a CNBC report that criticizes their earnings so far. The article points to the fact that pharmaceutical companies have seen a 4.7% contraction in earnings, and a 3.2% drop in revenue this quarter. Why? Morningstar's Damien Cover says there are two primary reasons: FX impact, especially from the yen, and intensified generic competition from patent losses. Comment! [Healthcare, On the Move]
Monday, April 29, 10:28 AM Biogen Idec (BIIB +4.9%) gains this morning after giving an update on Tecfidera prescription performance. According to data, the drug has already garnered nearly 8% of the multiple sclerosis market through the week ended April 19, with prescriptions up 120% over the prior week. By comparison, Novartis' (NVS) Gilenya saw a market share drop to 6%. RBC sees performance on track to meet quarterly sales expectations. Comment! [Healthcare, On the Move]
Monday, April 29, 8:25 AM Incyte (INCY) is set to receive a $25M milestone payment from Novartis (NVS) as a Phase II clinical trial for INC280 formally gets underway. NVS has exclusive development and commercialization rights to the compound. (PR) Comment! [Healthcare]
Friday, April 26, 6:56 PM Federal prosecutors have filed a second civil fraud suit against Novartis (NVS), accusing the drug giant of paying kickbacks and providing lavish dinners to doctors to encourage them to prescribe the company's brand-name drugs to treat hypertension and other ailments. Payments were disguised as honorariums for doctors to speak at educational programs, but the presentations were actually little more than social outings for doctors, including fishing trips off the Florida coast and outings to Hooters restaurants. 5 Comments [Healthcare]
Wednesday, April 24, 5:37 AM Novartis AG (NVS): Q1 EPS of $1.32 beats by $0.04. Revenue of $14B (+2% Y/Y) misses by $0.02B. (PR) Comment! [Earnings, Breaking News, Healthcare]
Wednesday, April 24, 12:05 AM Notable earnings before Wednesday’s open: ABB, ABX, ASH, ATI, AVY, BA, BYD, CFR, CKSW, COR, CP, CS, CVE, DPS, EDU, ELN, EMN, ERIC, F, FDML, GD, GLW, GRA, HCBK, HES, ICON, LAD, LL, LLY, LO, MDCO, MSI, MTH, NDAQ, NOC, NS, NVS, NYCB, OC, OCR, OSIS, PG, PLD, PX, RES, ROK, S, SO, SVU, TEL, TKR, TMO, TROW, TUP, USG, VLY, VMED, WAB, WHR, WLP, WM, WYN Comment! [Earnings]

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