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PFE

Pfizer Inc.

6/20/2013, 3:41 AM ET

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Wednesday, June 19, 4:48 PM Pfizer (PFE) discloses the final exchange ratio for the exchange its common stock for shares of its Zoetis (ZTS) spinoff. For each share of PFE common tendered, the shareholder will receive 0.9898 shares of Zoetis common stock, subject to proration if the exchange offer is oversubscribed. Based on the final exchange ratio and full subscription, PFE will accept for exchange 405,117,195 shares of its common stock. Shares +0.6% AH. 1 Comment [Healthcare]
Monday, June 17, 4:27 PM Zoetis (ZTS +0.5%) says it's joining the S&P 500 index, after Pfizer (PFE) splits off its remaining 80% stake in the animal-medicine company. It will replace First Horizon (FHN), which is replacing QLogic (QLGC) in the S&P MidCap 400 index. 1 Comment [Healthcare]
Thursday, June 13, 8:15 AM Tobacco companies (MO, PM, LO, RAI, BTI, ITYBY.PK) think they have the answer to where to find revenue growth with the advent of electronic cigarettes across the world, even as regulators struggle with the concept of if "safer" products are tolerable enough to allow the devices to work as a gateway to reducing nicotine addiction. If the future of e-cigarettes is as bright as tobacco players make it out to be, Pfizer (PFE) and GlaxoSmithKline (GSK) could see demand for their own nicotine addiction products turn lower. Comment! [Consumer]
Wednesday, June 12, 8:39 AM More on Protonix settlement: Teva (TEVA -1.3%) will pay $1.6B of the $2.15B, half in 2013 and the rest by October 2014, while Sun will pay its $550M share this year. The settlement follows a legal battle of almost 10 years in which a jury found that Teva and Sun violated the patent by launching generic versions of Protonix prior to the expiry of its patent in 2011. The deal also comes after the start of a trial to determine damages. Pfizer (PFE) +0.8%. (PR) 4 Comments [Healthcare, Top Stories]
Wednesday, June 12, 7:56 AM Pfizer (PFE) and Takeda (TKPHF.PK) obtain a $2.15B settlement from Teva (TEVA) and India's Sun for breaching a patent of Pfizer's and Nycomed's (now part of Takeda) blockbuster acid reflux medicine Protonix. Pfizer will receive 64% of the money and Takeda the rest. (PR) Comment! [Breaking News, Healthcare, Top Stories]
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]
Thursday, June 6, 9:37 AM Western drugs for baldness are gaining ground in China from traditional herbal remedies and even more esoteric treatments such as snake gall bladders. The market is small but has surged 90% to 100.7M yuan ($16.4M) in five years, and it looks like it could grow much further: in one survey, 47% of respondents said they had sought help for their hair loss. Companies that could benefit include Merck (MRK), J&J (JNJ), Pfizer (PFE) and L'Oreal (LRLCF.PK). 2 Comments [Healthcare]
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]
Saturday, June 1, 11:26 PM Pfizer's (PFE) Xalkori (crizotinib) — approved in August of 2011 for the treatment of non-small cell lung cancer patients who are ALK-positive — shows promise in extending progression-free survival when compared with the chemotherapy drugs pemetrexed and docetaxel, data from a clinical trial shows. The drug had sales of $53M in Q1. (WSJ) Comment! [Healthcare]
Wednesday, May 29, 2:18 PM Pfizer (PFE -2%) says that UPM Pharmaceuticals, a Baltimore-based drug development and contract manufacturer, has acquired the 500K square-foot commercial manufacturing facility that PFE currently operates in Bristol, Tenn. The new facility gives UPM the capability to annually produce 3.5B tablets and 680M capsules. As part of the purchase, UPM will continue to manufacture PFE's current portfolio of products within the facility for two years. Comment! [Healthcare, On the Move]
Friday, May 24, 7:27 AM Pfizer's (PFE) price target is hiked a buck to $29 at MKM Partners as the earlier-than-expected Zoetis (ZTS) spinoff has the team cutting their 2013 EPS forecast to $2.17 from $2.23, but raising estimates from 2014-17. The company remains a Hold however, as it's trading just above what MKM considers fair-value. Comment! [Healthcare]
Wednesday, May 22, 11:07 AM AIG remains at the top Goldman's list of hedge fund hotels (the 50 stocks appearing most frequently among hedge fund top 10 holdings). Google (GOOG) retains its #2 position. Apple (APPL) - in the top spot for 3 years until February - remains at #3. Goldman notes the basket has outperformed the S&P a bit this year and the top 20 has done better by more than 1000 basis points. We smell an ETF offering. The rest of the top 20: C, GM, PCLN, VMED, NWSA, MSFT, HTZ, JPM, APC, PFE, QCOM, CHTR, HES, CBS, EBAY, DAL, EQIX. 4 Comments
Wednesday, May 22, 8:18 AM Pfizer (PFE) plans to spin off its remaining stake in Zoetis (ZTS) through a tax-free exchange offer in which Pfizer owners can exchange their Pfizer shares for stock in Zoetis owned by Pfizer (got that?). Pfizer has received a waiver of the 180-day lock-up from the book runners of the Zoetis IPO. PFE +2.1%, ZTS -1.2% premarket. (PR) 11 Comments [Healthcare, Breaking News, On the Move]
Monday, May 20, 5:23 PM Pfizer (PFE) says it's discontinuing Phase 3 studies on its investigational compound inotuzumab ozogamicin in combination with rituximab, a treatment for patients with non-Hodgkin lymphoma who are not candidates for intensive high-dose chemotherapy, after the study failed to meet its primary objective of improving overall survival. No new or unexpected safety issues were identified, and PFE says it's continuing to review the the drug for potential subset applications. Shares -0.3% AH. Comment! [Healthcare]
Friday, May 10, 8:12 AM Pain Therapeutics (PTIE) craters 45.5% in premarket trading after Pfizer (PFE) says it is "considering its options" on Remoxy and may not respond to the FDA's complete response letter anytime in the next two years. PTIE sub-licensed Remoxy's commercialization rights to PFE subsidiary King Pharma (I, II). Comment! [Healthcare, On the Move]
Friday, May 10, 7:46 AM Pfizer (PFE) updates Durect (DRRX) on Remoxy, saying that it's "considering its options", and that if it elects to continue development of Remoxy, "we would not expect to submit a response to the "complete response" letter before mid-2015." (PR) This is less positive than expected by SA author Jason Napodano; shares are -12.6% premarket. 1 Comment [Healthcare, On the Move, Breaking News]

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