Friday, January 27, 2012, 8:56 AM
Idenix Pharmaceuticals (IDIX) -9.6% after Stifel Nicolaus downgrades shares to Sell from Hold at Stifel Nicolaus, which believes the "significant difference" in potency existing between IDIX's hepatitis C drug and those made by Pharmasset (VRUS) and Inhibitex (INHX) has important implications on how remaining "potential consolidators" strategically view the companies.
Comment![Healthcare, On the Move]
Friday, December 30, 2011, 8:05 PM
Top five Dow gainers of 2011: MCD +31%, IBM +27%, PFE +24%, HD +20%, KFT +20%. Top S&P gainers: COG +103%, EP +92%, ISRG +81%, MA +69%, BIIB +65%. Top Nasdaq gainers: VRUS +469%, EGAN +412%, SIMO +392%, INHX +308%, TSTF +276%.
1 Comment
Friday, December 16, 2011, 10:38 AM
JPMorgan weighs in on the Gilead Sciences (GILD -1.1%)-Pharmasset (VRUS -2.3%) merger after Pharmasset amended its phase 2b quantum trails this morning, rocking the boat of hepatitis C-related companies. "This announcement does not trigger a 'key product event' of the merger agreement. As such, we anticipate the deal will close on schedule."
Comment![On the Move, Healthcare]
Friday, December 16, 2011, 9:59 AM
Following news that Pharmasset (VRUS -3.4%) will discontinue Phase 2b trials of its hepatitis drug, other hepatitis-related companies are seeing dramatic share movement. Rallying: VRTX +3.9%, ACHN +1.4%. Declining: INHX -27%, IDIX -13.3%.
Comment![On the Move, Healthcare]
Friday, December 16, 2011, 8:35 AM
Pharmasset (VRUS) drops 3.6% after announcing it will "discontinue all treatment" in ongoing Phase 2b trials that involves use of its PSI-938 hepatitis drug. The company says it "detected laboratory abnormalities associated with liver function" in patients using PSI-938.
Comment![Healthcare, On the Move]
Wednesday, December 7, 2011, 5:27 PM
While Pharmasset (VRUS) shareholders stand to reap a windfall from Gilead Sciences’ (GILD) $11B takeover offer, its top execs are also in line for fat paydays. According to SEC filings reviewed by Footnoted, VRUS CEO P. Schaefer Price could pocket $255M once the deal closes, and other top brass also would grow much richer.
Comment![M&A, Healthcare]
Thursday, December 1, 2011, 2:36 PM
Benzinga notes shares of Pharmasset (VRUS -1.4%) are trading a little funky this week considering the strong market rally and its blockbuster sale to Gilead Sciences (GILD -0.4%). Despite a pickup in chatter that the deal is in jeopardy - a check with analysts covering GILD say the merger is still a "go."
Comment![M&A, Healthcare]
Monday, November 28, 2011, 3:06 PM
Gilead Sciences (GILD +1.4%) keeps the positive momentum churning after announcing it landed EU approval for its Eviplera treatment for HIV-1 infection - clearing the way for the commercial development of the drug in all 27 member countries. Shares of GILD now stand just a hair below where they traded just prior to the announcement of its blockbuster purchase of Pharmasset (VRUS +0.1%).
Comment![Healthcare]
Monday, November 28, 2011, 7:30 AM
Goldman Sachs adds Gilead Sciences (GILD) to its Conviction Buy list, calling its acquisition strategy "transformational." Analysts with the firm set a $46 price target on shares - hailing the mega-acquisition of Pharmasset (VRUS) as a move that changes the stock to a value story from a growth story.
Comment![Healthcare, Quick Ideas]
Tuesday, November 22, 2011, 11:33 AM
Gilead Sciences (GILD +5.9%) trades higher after investors further digest the ramifications of its mega-acquisition of Pharmasset (VRUS -0.1%) that sent shares skittishly lower yesterday. Citi took a look at the deal, deciding to upgrade GILD to Buy from Neutral, seeing a potential for the now-bigger company to dominate the Hepatitis C treatment market.
Comment![On the Move, Healthcare]
Monday, November 21, 2011, 3:41 PM
CNBC reports (video) an unusually high volume of call options in Pharmasset (VRUS +84.7%) were purchased just a few days before the buyout of the company by Gilead Sciences (GILD -9.7%). Analysts say the activity may get more than a passing glance look from regulators.
4 Comments[On the Move, Healthcare]
Monday, November 21, 2011, 8:00 AM
Shares of Hepatitis C treatment providers Inhibitex (INHX) and Vertex Pharmaceuticals (VRTX) show upward momentum following the news of Gilead's (GILD) blockbuster deal to buy Pharmasset (VRUS). Premarket: INHX +31%, VRTX +2%.
Comment![On the Move]
Monday, November 21, 2011, 7:17 AM
Gilead Sciences (GILD) announces a deal to purchase Pharmasset (VRUS) for $11B in a deal that is expected to close in Q1 and become accretive to Gilead's earnings starting in 2015. The $137/share offer price agreed upon by the firms marks an 89% premium to the closing price of Pharmasset on Friday.
2 Comments[M&A, Healthcare]
Tuesday, November 15, 2011, 12:05 PM
Wedbush takes a shine to Idenix Pharmaceuticals (IDIX +3.5%), ringing up an upgrade to Outperform from Neutral to go along with a $5 price target hike to $11. Analysts with the firm tie the new rating to the "heightened premium" they see big-pharma placing on the nucleotide class of drugs following positive data released on Pharmasset’s (VRUS +2.3%) PSI-7977 treatment.
Comment![Healthcare]
Monday, November 7, 2011, 11:51 AM
Pharma Wars: Shares of Vertex Pharmaceuticals (VRTX -7.9%) and Achillion Pharmaceuticals (ACHN -5.4%) move lower after separate announcements from Pharmasset (VRUS +2.2) and Inhibitex (INHX +14.3%) on drug treatments look set to affect sales for the firms of their competing products. Trading volume on all four companies is high.
Comment![On the Move, Healthcare]