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Pfizer Inc. (PFE)

  • Tue, Mar. 24, 5:34 PM
    • A Phase 2a clinical trial evaluating Lpath's (NASDAQ:LPTN) candidate for advanced renal cell carcinoma (RCC), ASONEP, failed to achieve its primary efficacy endpoint of a statistically significant improvement in progression-free survival (PFS). The study enrolled RCC patients who had previously failed treatment with at least one anti-vascular endothelial factor (VEGF) agent and no more than one mTOR inhibitor. This patient population is considered "last line."
    • To meet the endpoint, 25 of 39 patients needed to be progression-free at Month 2 of treatment, but the overall median time to progression was less than that. Seven patients were progression-free at least six months and three were progression-free for more than 29 months.
    • ASONEP is an anti-S1P antibody formulated for systemic use. S1P is sphingosine-1-phosphate, a blood-borne lipid mediator that is a key regulator of vascular and immune systems. It is upregulated (there is more of it) in certain cancers so binding to it may potentially inhibit progression.
    • The company will assess its options with a partner to explore areas that present the greatest chance of success for ASONEP. Another Phase 2 study is evaluating the ocular version, iSONEP, in wet age-related macular degeneration. Data readout should happen in Q2. Pfizer (NYSE:PFE) has an exclusive option for a global license. Pfizer has a time-limited right of first refusal for a license for ASONEP.
    • LPTN is down 27% after hours on robust volume.
  • Thu, Feb. 12, 12:56 PM
    • Johnson & Johnson (JNJ -1.6%) slumps on double normal volume after U.S. Patent Office upholds the rejection of its Remicade 2018 patent. Biosimilar makers rally as a result, including thinly-traded nano cap Epirus Biopharmaceuticals (EPRS +15.1%) whose lead product is BOW015, a biosimilar version of Remicade (infliximab).
    • Biosimilar-related tickers: (PFE +1.3%)(HSP +0.1%)(AMGN -0.4%)(CHRS +0.2%)(PFNX +14.5%)(NVS -0.2%)
  • Thu, Feb. 5, 3:51 PM
    • Pfizer's (PFE +3%) acquisition of biosimilar developer Hospira (HSP +35.2%) has speculators moving into several smaller players.
    • Thinly-traded Coherus BioSciences (CHRS +13.2%) is up on a 3x surge in volume albeit on turnover of only 600K. Its lead product is a biosimilar version of Amgen's Enbrel (etanercept).
    • Thinly-traded Epirus Biopharmaceuticals (EPRS +3.3%) is up also on 3x higher volume but, again, on light turnover of 276K shares. Its lead product is a biosimilar version of Janssen's Remicade (infliximab).
    • Previously: Coherus Bio stumbles in debut (Nov. 6, 2014)
    • Previously: Sandoz success powers Epirus Bio (Jan. 8)
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  • Thu, Feb. 5, 7:22 AM
    • Pfizer (NYSE:PFE) will host a conference call this morning at 10:15 am ET to discuss its acquisition of Hospira (NYSE:HSP). Interested parties can access the call via 877-409-7641, password: Analyst Call.
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  • Thu, Feb. 5, 7:05 AM
    • Pfizer (NYSE:PFE) buys Hospira (NYSE:HSP) for $90 per share in cash for a total of $17B. The transcation will be immediately accretive adding $0.10 - 0.12 per share to earnings the first year after closing.
    • The deal is expected to close in H2.
    • HSP up 36% premarket, PFE up 2%.
  • Dec. 15, 2014, 8:56 AM
    • Opko Health (NYSE:OPK) is up 14% premarket on robust volume in response to its deal with Pfizer (NYSE:PFE). The latter will be pay Opko an upfront fee of $295M and up to $275M in regulatory milestones for the global rights to hGH-CTP, a long-acting growth hormone. Its value proposition is a once-weekly injection, a significant improvement over the once-daily standard of care.
    • Opko acquired the rights to hGH-CTP via its takeout of Israel-based Prolor last year.
    • Previously: Opko completes its acquisition of Prolor Biotech (Aug. 29, 2013)
  • Oct. 27, 2014, 9:26 AM
    • Durect Corp. (NASDAQ:DRRX) and Pain Therapeutics (NASDAQ:PTIE) drop 46% and 54%, respectively, on robust volume after Pfizer (NYSE:PFE) decides to discontinue its agreement to development and commercialize Romoxy (oxycodone).
    • Pfizer will return all rights, including the responsibility for regulatory activities to Pain, who licensed the product from Durect.
  • Oct. 1, 2014, 12:10 PM
    • Thinly-traded Portola Pharmaceuticals (PTLA +15.5%) jumps on a 2x surge in volume albeit on turnover of less than 600K shares in response to its announcement of positive results from a Phase 3 clinical trial evaluating the safety and efficacy of andexanet alfa as an antidote to a Factor Xa inhibitor.
    • Top-line efficacy data demonstrated that an IV bolus of andexanet alfa immediately and significantly reduced the anticoagulation activity of Bristol-Myers Squibb (BMY -1.4%) and Pfizer's (PFE -1.3%) direct Factor Xa inhibitor Eliquis (apixaban). The results were highly statistically significant.
    • CEO William Lis says, "Andexanet alfa represents a potential important advance to the field of anticoagulation for Factor Xa inhibitor patients who suffer a major bleeding episode or those requiring emergency surgery."
    • The company expects to file a BLA with the FDA for the Breakthrough Therapy-designated product candidate by the end of 2015.
  • Sep. 26, 2014, 11:46 AM
    • Shares of thinly-traded nano cap GlycoMimetics (GLYC -5.5%) are under pressure in response to Pfizer's (PFE -1.2%) notification that it will significantly delay the start of its Phase 3 clinical trial of GMI-1070 (rivipansel) due to a manufacturing development issue impacting formulated drug supply. Pfizer says that it will advise GLYC on a more specific timeframe regarding the commencement of the trial after it identifies the cause of the problem and a remedy.
    • GLYC expected the trial to start in Q4. Its exclusive license agreement with Pfizer was signed in October 2011. The initial indication will be a treatment for vaso-occlusive crisis of sickle cell disease.
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  • Sep. 23, 2014, 2:27 PM
    • Pfizer (PFE -0.6%) approached Actavis (ACT +3.3%) to "express its interest in an acquisition," sources tell Bloomberg. However, the news service adds the companies "aren’t currently in formal talks and Pfizer hasn’t made an offer."
    • Actavis has spiked on the report. Pfizer, interested in doing a tax inversion deal, made a rejected bid to acquire AstraZeneca earlier this year. Actavis was reported yesterday to have made a rejected offer for Allergan (AGN +1.4%), which is reportedly in advanced talks to buy Salix.
    • Yesterday, the Treasury Department announced it's close to finalizing rules meant to discourage U.S. companies from doing inversion deals.
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  • Jul. 8, 2014, 3:59 PM
  • May. 19, 2014, 3:27 AM
    • As tipped, AstraZeneca (AZN) has rejected Pfizer's (PFE) final proposal of £55 a share, or £69B ($117B), saying that the bid "falls short of AstraZeneca’s value as an independent science-led company."
    • AstraZeneca told Pfizer on Friday that any offer would have to be over 10% above the latter's previous bid of £53.50.
    • The U.K. company said that while Pfizer's pursuit has been driven by cost and tax savings, it "has failed to make a compelling strategic, business or value case."
    • Pfizer's final proposal "would present significant risks for shareholders, while also having serious consequences for the company, our employees and the life-sciences sector in the U.K., Sweden and the U.S.," AstraZeneca said.
    • AstraZeneca's shares are -13.2% at £41.87 in London. (PR)
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  • May. 18, 2014, 9:13 PM
    • "They can either accept or reject it," says Pfizer (PFE) CEO Ian Read of his company's "final" offer for AstraZeneca (AZN) valued at about $120B. "They have until the 26th of May," under U.K. takeover rules.
    • The new offer increases the cash component of the deal to 45% of the total price, values AstraZeneca shares at £55 ($92.48) each, and comes after some back and forth between the companies that started on Thursday with Pfizer offering £53.50. AstraZeneca, according to Read, said £53.50 substantially undervalues the company. "If that is what you believe, I really cannot find a way to close a substantial gap," Read says he told AZN at the close of a Sunday phone call.
  • Apr. 28, 2014, 7:37 AM
    • AstraZeneca's (AZNBOD responds to Pfizer's press release about its offer to buy the former for $76.62/share.
    • According to AZN, Pfizer (PFE) chief Ian Read first contacted Chairman Leif Johansson on November 25, 2103 about a potential combination. Mr. Johansson expressed confidence in his firm's prospects but agreed to meet his counterpart in New York on January 5, 2014. At this meeting Pfizer made a preliminary offer for AZN of £13.98 in cash plus 1.758 shares of PFE stock representing a value of £46.61 ($76.61) per AZN share based on PFE's closing price of $30.52 on January 3. PFE's proposal also included a new U.S. listed and headquartered holding company.
    • AZN's BOD felt that the proposal significantly undervalued AZN and its prospects. It was also concerned that 70% of the deal was PFE stock. Still another problem was the intended inversion structure where PFE would redomicile to the U.K. for tax purposes.
    • On January 12 AZN wrote to PFE rejecting its offer. PFE responded on January 15 that it was no longer actively considering an offer for AZN.
    • The AZN BOD reaffirms its commitment to its strategy announced in March 2013.
    • In the meantime, PFE contacted the U.K. government about the merits of the deal.
    • On April 26 Mr. Read contacted Mr. Johansson requesting they make a joint statement stating they were entering discussions about a combination despite the absence of a new offer. The AZN BOD declined to do so without first seeing a new proposal.
    • Pfizer has scheduled an investor conference call this morning at 8:30 am EDT to discuss the matter.
    • AZN shares are up 16% premarket on robust volume.
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  • Mar. 12, 2014, 2:23 PM
    • Trading halted for (PFE) pending news.
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  • Feb. 4, 2014, 10:28 AM
    • Pfizer (PFE +2.7%) leads the Dow out of the gate after Jefferies upgrades shares to Buy from Hold and raises its target price to $38 from $33.
    • The upgrade comes a day after PFE announced positive results from its palbociclib experimental breast cancer treatment, which the firm believes could be approved as soon as the end of this year.
    • The firm also likes PFE's reorganization of its commercial operations, which might make its business more efficient and improve its tax structure; the creation of the division focused on products that are losing protection also may prompt future acquisitions or joint ventures.
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Company Description
Pfizer Inc is a research-based biopharmaceutical company. The Company has five operating segments: Primary Care; Specialty Care and Oncology; Established Products and Emerging Markets; Animal Health; and Consumer Healthcare.