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Eli Lilly & Co. shares rose 1.5% in premarket trade Tuesday after the company said its pain drug with Pfizer Inc. has received fast track designation from the Food and Drug Administration, which is intended to hasten the development and approval of drugs for serious conditions. Pfizer shares were up 0.2% premarket. The drug, tanezumab, got the designation for chronic pain in patients with osteoarthritis and chronic low back pain. Tanezumab is currently in late-stage development, and results from clinical trials are expected to start being released in 2018, the companies said. If approved, the drug could be a much-needed new tool for doctors amid a national opioid crisis. The drug is also being studied in patients with cancer pain. Eli Lilly shares have dropped 3.9% over the last three months, and Pfizer shares have dropped 4.1%, compared with a 2.4% rise in the S&P 500 .
Eli Lilly stock rises 1% after pain drug gets fast track designation from FDA
As the Dow Jones Industrial Average slips Wednesday below its 50-day moving average (MA), which many technicians use to define the short-term trend, 17 of its 30 components are also below their respective 50-day MAs. Of that total, shares of Boeing Co. and Merck & Co. Inc. are below their 50-day MAs after closing above them on Tuesday, while UnitedHealth Group Inc.'s stock was above its 50-day MA as recently as Monday. Of that total, Pfizer Inc. , Chevron Corp. , General Electric Co. , Intel Corp. , Verizon Communications Inc. , International Business Machines Corp. , Merck and Procter & Gamble Co. were also below their respective 200-day MAs, which are viewed as dividing lines between longer-term uptrends and downtrends. Exxon Mobil Corp.'s stock was below its 200-day MA, but was still above its 50-day MA. The Dow was down 237 points at 20743, below the 50-day MA at 20,783, but well above the 200-day MA at 19,547.
Pfizer Inc. Tuesday said revenue fell 2% in its latest quarter to $12.78 billion as some of the company's legacy drugs lost patent protection in various key markets, though executives also blamed one-time factors and voiced optimism about prospects for the year.
Pfizer Inc. Tuesday said revenue fell in its latest quarter as some legacy drugs lost market exclusivity. Shares of the company are down 1.1% in premarket trading. Pfizer said revenue in its essential health unit, which includes the antidepressant Pristiq and anti-epileptic drug Lyrica, fell 10% in the first quarter from a year earlier.
Pfizer Inc. reported a first-quarter profit beat and revenue miss early Tuesday. Earnings for the latest quarter rose to $3.12 billion, or 51 cents per share, from $3.04 billion, or 49 cents per share, in the year-earlier period. Adjusted earnings-per-share were 69 cents, compared with the FactSet consensus of 67 cents. Revenue rose to $12.78 billion from $13.01 billion, compared with the FactSet consensus of $13.09 billion. Pfizer said its latest results were affected by one less U.S. selling day and two fewer international selling days, compared to the year-earlier period. The latest results include some legacy operations from Hospira Infusion Systems, which Pfizer completed the sale of to ICU Medical in early February. Pfizer shares have surged 6.5% over the last three months, compared with a 4.7% rise in the S&P 500 .
Pfizer stock rises 1% in pre-market trade
Pfizer Q1 revenue $12.8 bln vs. $13.0 bln; FactSet consensus $13.1 bln
The drug maker hopes the results of a trial for Mystic, a lung-cancer treatment, will prove it was right to fend off a 2014 takeover offer and commit to developing immunotherapy medicines.
Lilly’s Jardiance could gain the most from CANVAS, while Merck’s Januvia may face incremental pressure.
Among the companies with shares expected to trade actively in Tuesday’s session are Apple Inc. and the rest of the FAANG stocks, semiconductor companies led by Nvidia Corp. and Tesla Inc.
General Electric shareholders endured a rough ride during Jeff Immelt's tenure atop the firm. The stock is down about 30% since he took the reins from legendary GE Chairman Jack Welch in 2001.
U.S. sales of blockbuster prostate-cancer drugs have dropped sharply since the start of a federal investigation into charities that help patients pay for these drugs, a sign of how much the pharmaceutical industry relies on these foundations to support revenue.
The National Institutes of Health, responding to a national drug-overdose epidemic, said it will create partnerships with drug companies to speed research on treatments for opioid abuse and on pain drugs that don’t cause addiction.
Tesaro is exploring a sale, according to people familiar with the matter, two months after the cancer-treatment developer won a key drug approval.
The year 2007 has reclaimed its title as the biggest for global deal-making. With $4.3 trillion in global deals, 2007 was unseated two years ago by 2015, which ended with $4.7 trillion in announced deals. But since then, many of those deals have unraveled.
A graphic look at selected stock activity for the week ended May 12, 2017. Included are Macy’s, PetMed Express, and Electronic Arts.
David Tepper's Appaloosa Management trimmed its wagers on pharmaceutical companies in the first quarter and sold out of retailer J.C. Penney.
Goldman Sachs is splitting its investment bankers who focus on healthcare and consumer and retail companies into two groups with separate leaders.
Best known for its wrinkle-erasing Botox injections, Allergan has a big drug pipeline and shares look cheap.
New branded and generic drugs could propel the Swiss pharma to a multiyear run of earnings gains.
Celgene bought more Agios. The Biotechnology Value Fund disclosed large positions in three firms.
Jeffrey Aronin hoped to eventually sell Marathon Pharmaceuticals for billions of dollars, but then the company said it would charge $89,000 a year for a muscular-dystrophy drug.
U.S. stock indexes edged higher, as gains in shares of industrial companies offset losses in the energy sector.
Pfizer said revenue fell in its latest quarter as some legacy drugs lost market exclusivity.
The proportion of S&P 500 companies beating analysts' forecasts both on earnings and sales is pacing to be the best in 13 years.
Among the companies with shares expected to trade actively in Tuesday's session are Aetna Inc., Pfizer Inc. and Apple Inc.
A climb in technology shares helped push the S&P 500 higher and the Nasdaq Composite to a record.
In 1Q17, Regeneron (REGN) and Sanofi’s (SNY) Praluent reported global revenues close to $36.0 million, of which $25.0 million were earned from the US market.
Today's Research Daily features new research reports on 16 major stocks, including Chevron (CVX), Pfizer (PFE), and Boeing (BA).
Here is a look at Puma (PBYI) and two other biotech stocks that have recorded massive gains so far in 2017.
Tanezumab is an investigational drug co-developed by Eli Lilly (LLY) and Pfizer (PFE).
To further expand Eylea’s label, Regeneron is studying the drug in combination with angiopoietin2 (or Ang2) antibody nesvacumab in two Phase 2 trials.
In 1Q17, Regeneron's (REGN) Eylea reported revenues of about $854.0 million in the US market, which is a YoY (year-over-year) rise of about 9.0%.
The drug maker hopes the results of a trial for Mystic, a lung-cancer treatment, will prove it was right to fend off a 2014 takeover offer and commit to developing immunotherapy medicines.
On June 15, 2017, Eli Lilly announced data from a study that evaluated the safety and efficacy of Taltz in patients with active psoriatic arthritis.
The Dow notched up successive record gains during a week marked by losses for tech stocks
Merck (MRK) paused patient enrolment in a couple of studies being conducted with its anti-PD-1 therapy, Keytruda.
Clovis Oncology (CLVS) and Tesaro (TSRO) could each deliver blockbuster ovarian cancer drugs and grab takeover interest, an analyst said Friday ahead of a key trial for Clovis, expected later this month. The duo rivals bigger AstraZeneca (AZN), whose $87.3 billion market cap is more than eight times that of Clovis and Tesaro combined. Clovis and Tesaro joined AstraZeneca on the PARP-inhibitor market within the last year. PARP inhibitors work by
Pfizer, Inc. (PFE) announced a deal to buy exclusive EU commercialization rights to an anti-fungal treatment, Cresemba from Swiss pharma company, Basilea Pharmaceutica Ltd.
10 Stocks Ready for a BIG Move – In Either Direction
The biotech industry, always a highly technical conundrum for investors, might currently pose an even greater challenge — and offer even greater risks — than usual. Early industry innovators like Amgen (AMGN), Biogen (BIIB) and Gilead Sciences (GILD) currently find themselves in "big trouble," according to Loncar Investments Chief Executive Brad Loncar, largely as victims of their own success. But cancer and rare disease specialists Kite Pharma
Acceleron Pharma Inc.'s (XLRN) announced disappointing results from a phase II study evaluating its pipeline candidate dalantercept in combination with Pfizer's (PFE) Inlyta (axitinib) for treatment of advanced renal cell carcinoma (RCC).
Corporate News Blog - Bristol-Myers Squibb Announces Sale of Swords Plant; Set to Expand its Biologics Portfolio
Pfizer Begins Phase 1 Clinical Trial to Evaluate Investigational Group B Streptococcus Vaccine
Pfizer Announces Results from XELJANZ® (tofacitinib citrate) ORAL Strategy Study Published in The Lancet and Presented at the EULAR Annual Congress
Health Advance Announces New Management in Most Recent 10Q
Pfizer Receives Exclusive Commercialization Rights in Europe for CRESEMBA, a Novel Treatment for Potentially Life-Threatening Fungal Infections Among Immunocompromised Patients
Basilea announces license agreement with Pfizer for antifungal Cresemba(R) (isavuconazole) for Europe, Russia, Turkey and Israel
Patented Biotechnology Formulations Resulting in New Generation of Animal Healthcare Medications and Treatments
Nearly One in Four New and Expectant Parents Have Never Heard of Invasive Pneumococcal Disease According to a New Survey
Merck and Pfizer Announce that Investigational SGLT-2 Inhibitor Ertugliflozin Met Primary Endpoint in Two Phase 3 Studies
Astellas and Pfizer Announce Amendment to Clinical Research Protocol for Phase 3 PROSPER Trial of enzalutamide in Patients with Non-metastatic Castration-Resistant Prostate Cancer
Astellas and Pfizer Announce Amendment to Clinical Research Protocol for Phase 3 PROSPER Trial of enzalutamide in Patients with Non-metastatic Castration-Resistant Prostate Cancer
Pfizer Invites Public to View and Listen to Webcast of Pfizer Presentation at Healthcare Conference
Sangamo Therapeutics And Pfizer Announce That SB-525 Investigational Hemophilia A Gene Therapy Receives Orphan Medicinal Product Designation From The European Medicines Agency
Pfizer Receives FDA Fast Track Designation for Tafamidis for Transthyretin Cardiomyopathy
WBENC Sets the Stage in Las Vegas for the 2017 Student Entrepreneur Program and Pitch Competition
Pfizer Presents Final Phase 2 Data on Investigational PARP Inhibitor Talazoparib in Patients with Germline BRCA-Positive Advanced Breast Cancer
AmpliPhi Biosciences Appoints Paul C. Grint, M.D. as Chief Executive Officer
Pfizer Announces Acceptance of Regulatory Submissions by U.S. FDA and European Medicines Agencyfor SUTENT® (sunitinib) for Adjuvant Treatment of Adult Patients at High Risk of Recurrent Renal Cell Carcinoma After Surgery
European Commission Approves Pfizer’s TRUMENBA® to Help Prevent Meningococcal Group B Disease in Adolescents and Adults
Blog Coverage: Pfizer Cautions Shareholders Against Accepting TRC Capital Corporation's Mini-Tender Offer
Pfizer, Inc. is a research-based, global biopharmaceutical company, which engages in the manufacture of vaccines and injectable biologic medicines. It operates through the following business segments: Global Innovative Pharmaceutical, Global Vaccines, Oncology and Consumer Healthcare, and Global Established Pharmaceutical. The Global Innovative Pharmaceutical segment focuses on developing, registering and commercializing novel, value creating medicines that significantly improve patients lives. The Global Vaccines, Oncology and Consumer Healthcare segment engages in the development and commercialization of vaccines and products for oncology and consumer healthcare. The Global Established Pharmaceutical segment includes the brands that have lost market exclusivity and, generally, the mature, patent-protected products that are expected to lose exclusivity through 2015 in most major markets and, to a much smaller extent, generic pharmaceuticals. The company was founded by Charles Pfizer Sr. and Charles Erhart in 1849 and is headquartered in New York, NY. (See Full Profile)
| Name | Chg % | Market Cap |
|---|---|---|
| Amgen Inc. | $121.49B | |
| AstraZeneca PLC ADR | $86.29B | |
| GlaxoSmithKline PLC ADR | $106.37B | |
| Novartis AG ADR | $210.04B | |
| Abbott Laboratories | $84.84B |
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