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Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs. Some analysts noted that it might take a few years for some of Pfizer's cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. They are among the most expensive prescription drugs in the U.S. Before the Seagen deal, 94% of Pfizer's cancer products were small-molecule drugs.
Persons: Wall, Seagen, Chris Boshoff, Boshoff, David Ryder, Trung Huynh, Joe Biden's, Chris Schott, Suneet Varma, RemeGe, Merck, Padcev, Guggenheim, Pfizer's, Pfizer hasn't, Dr, Mikael Dolsten, Irfan Khan Organizations: Nurphoto, Getty, Pfizer, Astellas Pharma, Guggenheim, Bloomberg, UBS, Medicare, Drug Administration, FDA, ADC, JPMorgan, Drugs, CNBC, CVS Pharmacy, Los Angeles Times Locations: Covid, Bothell , Washington, U.S, biologics, China, Eagle Rock , California
SAN FRANCISCO — An established but promising group of cancer drugs was a red-hot market in 2023, and more companies could look to the treatments to fuel growth in the year ahead. Interest in the drugs will only continue this year, as some analysts expect more dealmaking and advancements in ADCs currently in development. The drugs also have potential to draw huge profits: ADCs could account for $31 billion of the $375 billion worldwide cancer market in 2028, according to estimates from the drug market research firm Evaluate. The market for those drugs in 2023 was estimated to be worth around $9.7 billion, another report from research firm MarketsandMarkets said. Everyone wants to gain exposure to [ADCs] and basically make it a cornerstone of their entire corporate strategy," Hsieh told CNBC.
Persons: FRANCISCO —, Johnson, Andy Hsieh, William Blair, MarketsandMarkets, Hsieh Organizations: FRANCISCO, JPMorgan Healthcare Conference, ADC, Pfizer, Merck, William Blair & Company, CNBC Locations: San Francisco, ADCs, drugmakers, Asia
REUTERS/Brian Snyder/File Photo Acquire Licensing RightsNov 30 (Reuters) - AbbVie (ABBV.N) will buy ImmunoGen (IMGN.O) for $10.1 billion in cash, it said on Thursday, the latest major drugmaker to buy a developer of 'guided missile' cancer therapies as the company's top-seller Humira grapples with fierce competition. ImmunoGen's Elahere belongs to a new class of treatments called antibody-drug conjugates (ADC) that precisely targets cancer cells, potentially reducing toxicity for other cells. The drug, approved for ovarian cancer patients who have received previous therapies, is also being tested in earlier lines of treatment. AbbVie will also get access to Immunogen's follow-on pipeline of ADCs, including early-stage ovarian cancer candidate IMGN-151 and a mid-stage drug pivekimab sunirine for a rare type of blood cancer. Meanwhile, AbbVie's cancer drugs sales declined more than 8% in the third quarter to $1.51 billion, primarily due to increased competition to Imbruvica.
Persons: Brian Snyder, ImmunoGen's Elahere, AbbVie, IMGN, pivekimab, Immuogen stock's, Immunogen's, Elahere, Imbruvica, Manas Mishra, Leroy Leo, Shinjini Ganguli Organizations: REUTERS, Pfizer, Merck, U.S, Thomson Locations: Cambridge , Massachusetts, U.S, Bengaluru
Biotech stocks rose Thursday as AbbVie announced plans to buy cancer drug developer ImmunoGen for $10.1 billion. ImmunoGen develops cancer drugs called antibody-drug conjugates, or ADCs, which are designed to directly kill cancer cells and spare healthy ones. Shares of other biotech companies developing ADCs, which are among the hottest areas in the pharmaceutical industry, jumped on the news of the buyout. The SPDR S&P Biotech ETF , which focuses on small and midsize biotech companies, rose 3% Thursday. Under the terms of the deal, AbbVie will pay $31.26 a share in cash for ImmunoGen, a roughly 95% premium to Wednesday's closing price.
Persons: AbbVie, ImmunoGen, Michael Schmidt Organizations: Biotech, Mersana Therapeutics, ADC Therapeutics, P Biotech ETF, Nasdaq Biotechnology, ImmunoGen, Pfizer, Merck, CNBC PRO Locations: ADCs
A Palestinian student was shot in Vermont after his father told him to stay in the US, per NPR. His father said he thought he would be safer in the US than in the West Bank, his mother told NPR. AdvertisementA Palestinian student who was shot in Vermont was told by his father to stay in the US because he thought he would be safer, according to NPR. My husband "thought our son would be safer [in the US] than in Palestine," Elizabeth Price told the outlet. Awartani, a mathematics and archaeology student at Brown University, was one of the three Palestinian students shot on Saturday in Burlington, Vermont, as Business Insider previously reported .
Persons: Hisham Awartani, , Elizabeth Price, Awartani, Price, Jason James Eaton, Tahseen Ahmed, Kinnan Abdalhamid, Eaton's, Nikolas Kerest, Miro Weinberger, Albany Organizations: NPR, West Bank, Service, West Bank for, Brown University, Business, Authorities, Chittenden, Burlington Police, Burlington Police Department, United States Bureau of Alcohol, Tobacco, Firearms, Explosives, FBI, Violence, Force, District of, Burlington Locations: Vermont, Burlington, Palestine, Burlington , Vermont, Chittenden, District of Vermont
The former government official made vile anti-Muslim comments while jeering at the Egyptian food cart worker about the Israel-Hamas war with remarks such as, “If we killed 4,000 Palestinian children, you know what? Alarmingly, it appears one such horrific incident may have occurred on Saturday in Burlington, Vermont, when three Palestinian students were shot. Even before Seldowitiz was charged, Manhattan Borough President Mark Levine said on social media: “This Islamophobic bigotry is absolutely reprehensible. As CBS New York reported, “what happened at the food cart has seemingly only brought people together.” One of the food cart workers, Bahaa Hassan, told CBS: “We have mostly Jewish customer in this building. Unbeknownst to us at the time, we filmed this video last weekend in the very neighborhood where Seldowitz had been taunting the Arab food cart worker.
Persons: Dean Obeidallah, Obama, Stuart Seldowitz, jeering, Seldowitz, , Fayoume didn’t, Mohamed Hussein, Seldowitiz, Mark Levine, Bahaa Hassan, Stephanie Merabet, Max Brooks —, Facebook Max, Mel Brooks —, Abdul Organizations: CNN, CNN —, National Security, New York Police Department, Hamas, Defamation League, Cornell University, Islamic Relations, CAIR, ADC, CBS, East, Twitter, Facebook Locations: Manhattan, Israel, New York, Alarmingly, Burlington , Vermont, New York City, York, United States
By Gabriella Borter(Reuters) -The families of three Palestinian students attending U.S. colleges who were shot on Saturday in Vermont called on U.S. officials to investigate the incident as a hate crime, as they awaited updates on their children's recovery on Sunday. Burlington police have not identified or apprehended a shooter, and have not commented on a possible motive. "We call on law enforcement to conduct a thorough investigation, including treating this as a hate crime. The students had been speaking Arabic and wearing the traditional Palestinian keffiyeh, the Palestinian foreign ministry said on Sunday, calling on U.S. authorities to hold those responsible to account. The American-Arab Anti-Discrimination Committee, a U.S.-based advocacy organization, also called on state and federal law enforcement to investigate the shooting as a hate crime in a statement on Sunday.
Persons: Gabriella Borter, Hisham Awartani, Kinnan Abdel Hamid, Tahseen Ahmed, Abed Ayoub, , Hisham, Josie Kao Organizations: Brown University, Haverford College, Trinity College in, University of Vermont, Institute for Middle, Burlington Police, University of Vermont Medical Center, Ramallah Friends School, West Bank, Facebook Locations: Vermont, Rhode Island, Pennsylvania, Trinity College in Connecticut, Burlington, Palestinian, U.S, Israel, Ramallah
Nov 26 (Reuters) - The families of three Palestinian students attending U.S. colleges who were shot on Saturday in Vermont called on U.S. officials to investigate the incident as a hate crime, as they awaited updates on their children's recovery on Sunday. Burlington police have not identified or apprehended a shooter, and have not commented on a possible motive. "We call on law enforcement to conduct a thorough investigation, including treating this as a hate crime. The students had been speaking Arabic and wearing the traditional Palestinian keffiyeh, the Palestinian foreign ministry said on Sunday, calling on U.S. authorities to hold those responsible to account. The American-Arab Anti-Discrimination Committee, a U.S.-based advocacy organization, also called on state and federal law enforcement to investigate the shooting as a hate crime in a statement on Sunday.
Persons: Hisham Awartani, Kinnan Abdel Hamid, Tahseen Ahmed, Abed Ayoub, , Hisham, Gabriella Borter, Josie Kao Organizations: Brown University, Haverford College, Trinity College in, University of Vermont, Institute for Middle, Burlington Police, University of Vermont Medical Center, Ramallah Friends School, West Bank, Facebook, Thomson Locations: Vermont, Rhode Island, Pennsylvania, Trinity College in Connecticut, Burlington, Palestinian, U.S, Israel, Ramallah
Three young men of Palestinian descent who were in Burlington for a Thanksgiving holiday gathering were shot and injured — one seriously — near the University of Vermont, police said Sunday. The shootings occurred at about 6:25 p.m. Saturday near the UVM campus, according to Burlington Police Chief Jon Murad. Two of the men are in stable condition and the other suffered “much more serious injuries,” Murad said in a news release Sunday. “All three victims were struck, two in their torsos and one in the lower extremities.”Murad said all three men are of Palestinian descent. “My deepest condolences go out to the victims and their families,” Murad said in the news release.
Persons: , Jon Murad, ” Murad, Murad, Sarah Ruane, Joe Biden, Sen, Bernie Sanders, Sanders, _____ McCormack Organizations: University of Vermont, Authorities, Burlington Police, Palestinian, FBI, Islamic Relations, Vermont Independent Locations: Burlington, American, Palestinian American, Albany , New York, Vermont, Burlington , VT, United States, Israel, Concord , New Hampshire
The announcement sent shares of Daiichi Sankyo (4568.T) up 12% in early trading in Tokyo on Friday, raising expectations for its cancer drug pipeline. The companies will jointly and potentially commercialise the drug candidates worldwide, except in Japan where Daiichi Sankyo will maintain exclusive rights, they said. Merck will pay Daiichi Sankyo $4 billion upfront in addition to $1.5 billion in continuation payments over the next two years. Merck may make additional payments of up to $16.5 billion contingent on future sales milestones, or $5.5 billion for each product. Daiichi Sankyo has six ADC candidates in its pipeline, including two being jointly developed with AstraZeneca (AZN.L).
Persons: Andrew Kelly, Drugmaker Merck, patritumab, ifinatamab, raludotatug, Merck, David Dolan, Kanjyik Ghosh, Miyoung Kim, Jamie Freed Organizations: Merck & Co, REUTERS, Merck, AstraZeneca, Thomson Locations: Kenilworth , New Jersey, U.S, TOKYO, Daiichi, Tokyo, Japan, Bengaluru
Private credit players like HPS Investment Partners and Blue Owl Capital (OWL.N) have a workaround, but it could prompt a painful hangover. Cashed-up private credit funds offered sums previously unseen outside of traditional bank financing on riskier deals. Private credit assets swelled 460% to over $1.4 trillion between 2010 and the end of 2022, Preqin says. Reuters GraphicsThe attraction of “mezz” and similar exotic lending isn’t just that it helps private credit source new deals. In 2021, that dynamic meant private loans briefly became cheaper than liquid, tradable loans – flying in the face of financial orthodoxy.
Persons: , Zendesk, Preqin, LSEG, HPS, Goldman, Blackstone, Angelo Gordon, dealmaking, George Hay, Oliver Taslic Organizations: Reuters, HPS Investment Partners, Owl, Blackstone, Apollo, Treasury, Private, Management, Partners, Reuters Graphics Reuters, Sabre, Companies, Wolf, ADC Therapeutics, Equity, Thomson Locations: EBITDA
JPMorgan downgrades AT & T to neutral from overweight JPMorgan downgraded the telecommunications due to "slowing growth drivers." Wells Fargo downgrades Progressive to equal weight from overweight Wells said it has concerns about the insurance company gaining share. UBS upgrades Microsoft to buy from neutral UBS said in its upgrade of the stock that shares are too attractive to ignore. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating after the company's Prime Day. JPMorgan reiterates Apple as overweight JPMorgan said recent checks show that Apple has "strong market share" in a variety of markets.
Persons: LOE, Wells, it's, Tesla, Morgan Stanley, Goldman Sachs, Goldman, Raymond James, Robert Iger, Mills, Argus Organizations: HSBC, Pfizer, ADC, JPMorgan downgrades, Verizon, Mobile, Consumer, JPMorgan, Alcoa, UBS, Microsoft, Citi, Applied Materials Citi, Bank of America, Texas Roadhouse Citi, Texas, Barclays, Apple, Sands, Macau, Northland, Nvidia, Pulte, KB, Disney, CNBC, DIS, Argus, TNT, Tidewater Locations: Wells Fargo, China, Northland
July 3 (Reuters) - AstraZeneca (AZN.L) said on Monday an experimental precision drug slowed progression of lung cancer in a late-stage trial, but the company's shares fell as much as 6% as analysts said the benefits may not be as pronounced as hoped. It declined to provide more trial details, saying they would be presented at an as yet undisclosed medical conference. At 0855 GMT, shares in AstraZeneca were down 5.8% at their lowest level in more than three months. Gilead (GILD.O) has pioneered the targeting of TROP2 with an ADC named Trodelvy, approved to treat certain types of breast and bladder cancer. AstraZeneca said that the datopotamab deruxtecan trial would continue as planned to assess the effect of the drug on overall survival of patients, another important efficacy criterion.
Persons: datopotamab, AstraZeneca, British drugmaker, Kelun, Maggie Fick, Ludwig Burger, Sinchita Mitra, Lucy Raitano, Krishna Chandra Eluri, Susan Fenton Organizations: AstraZeneca, Japan's, Merck & Co, Biotech of, Barclays, Thomson Locations: British, Biotech of China, London, Frankfurt, Bengaluru
Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world's biggest cancer research conference in Chicago, starting Thursday. The pair has already has won regulatory approval for Enhertu for metastatic HER2-low breast cancer, but the companies are also studying its use in a variety other HER2 tumors in breast cancers. Lilly's drug, Verzenio, is used in high-risk patients with HR-positive HER2-negative breast cancer that is more likely to reoccur and has already breached the patient's lymph nodes. In a research note earlier this month, Guggenheim analyst Seamus Fernandez said Kisqali is already taking market share from Pfizer's Ibrance in metastatic breast cancer. Merck's Keytruda is also being watched for what benefits it could offer early-stage lung cancer patients .
Citi is bullish on Merck , saying that the company's drug pipeline is underappreciated by the market. The exclusive license and collaboration agreement for ADC development helps Merck in developing more cancer treatment drugs — and Citi thinks it could rival its competitors' offerings. Citi anticipates further upside for Merck shares from the Inflation Reduction Act. To be sure, Baum noted a key downside risk to his valuation is if the ADC pipeline disappoints. Further risks include lower-than-anticipated value share capture by the company's Melanoma treatment drug Keytruda, and a slowdown in its animal health business.
Pfizer is betting big on cancer treatments. On Monday, the company said that it was acquiring Seagen in a $43 billion deal. Seagen sells four cancer drugs and is expected to bring in $2.2 billion in revenue this year. Seagen is expected to bring in $2.2 billion in revenue this year, and Pfizer said that figure could reach $10 billion in 2030. Pfizer said that the deal would double the number of early-stage cancer treatments that the company is testing.
ABUJA, Nigeria - March 1, 2023: Ruling party candidate Bola Tinubu, addresses supporters during celebrations at his campaign headquarters. Tinubu won Nigeria's highly disputed weekend election, electoral authorities said on Wednesday, securing the former Lagos governor the presidency of Africa's most populous democracy. Nigeria's ruling party candidate Bola Tinubu was declared the winner of the country's presidential election on Wednesday after polling was marred by transparency concerns and widespread technical problems. The APC, PDP and Labour Party won 12 states apiece, while the New Nigerian Peoples Party (NNPP) candidate Rabiu Kwankwaso claimed one state. However, the PDP, Labour Party and several other opposition parties had already rejected the results by the time Tinubu was declared president-elect on Wednesday.
Pfizer in talks to buy cancer drugmaker Seagen - WSJ
  + stars: | 2023-02-27 | by ( ) www.reuters.com   time to read: +2 min
Feb 27 (Reuters) - Pfizer Inc (PFE.N) is in early-stage talks to acquire cancer drugmaker Seagen Inc (SGEN.O) in a potential multi-billion dollar deal, the Wall Street Journal reported, after advanced discussions between Merck (MRK.N) and Seagen fell through last year. Seagen had a market capitalization of roughly $30 billion, as of Friday's close. Its shares have fallen nearly 10% since July, when the deal talks with Merck were first reported. Pfizer declined to comment on the WSJ report, while Seagen did not immediately respond to a Reuters request for comment. Merck, which bought ADC-maker Imago BioSciences for $1.35 billion in November, is unlikely to show renewed interest in Seagen, analysts said.
Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said the tech giant continues to be a "highly debated stock" among investors the firm talked to. " Loop initiates Micron as buy Loop says it sees upside potential for shares of Micron . Citi reiterates Netflix as buy Citi said it's standing by its buy rating on Netflix heading into earnings later this month. Morgan Stanley names AbbVie as a catalyst driven idea Morgan Stanley said it sees a new "pipeline opportunity" as the biopharma company looks to develop new products. " Morgan Stanley reiterates Sunrun and Plug Power as overweight Morgan Stanley said the selloff in clean tech is overdone.
„Asociaţia pentru Dezvoltare Creativă” (ADC) te invită să participi la cea de-a 13-a ediţie a programului „Wave Week Moldova” (WWM 2021). „WWM 2021” reprezintă un program de liderism și voluntariat pentru tineri, care va întruni 100 de participanți din întreaga țară. Prima etapă a programului este școala de vară on-line, care se va desfășura în perioada 26 – 31 iulie. Școala de vară online va cuprinde activități de instruire, sesiuni de discuții și inspirație pe platforma ZOOM, cu utilizarea diverselor aplicații interactive. De asemenea, echipa WWM 2021 vă va oferi posibilitatea să participați și la activități creative precum quiz-uri și jocuri de societate după ora 19.00.
Organizations: Moldova, UTA Locations: Chișinău, Moldova, UTA Găgăuzia, transnistreană
„Asociaţia pentru Dezvoltare Creativă” (ADC) te invită să participi la cea de-a 13-a ediţie a programului „Wave Week Moldova” (WWM 2021). „WWM 2021” reprezintă un program de liderism și voluntariat pentru tineri, care va întruni 100 participanți din întreaga țară. Prima etapă a programului este școala de vară ONLINE ce se va desfășura în perioada 26 — 31 iulie. Școala de vară online va cuprinde activități de instruire, sesiuni de discuții și inspirație pe platforma ZOOM, cu utilizarea diverselor aplicații interactive. Ce câștigi în urma participării la programul WWM 2021?
Persons: îşi, Vei Organizations: Moldova, Ministerul Educației, Culturii, Cercetării, UTA, Facebook Locations: SUA, Republicii Moldova, Chișinău, Moldova, UTA Găgăuzia, Transnistreană
Unul dintre punctele principale de pe agenda zilei a fost prezentarea Raportului de Evaluare a Vulnerabilității Climatice, elaborat de AO EcoContact în cadrul proiectului sus-numit, finanțat din fonduri austriece. Raportul include un rezumat al rezultatelor evaluării cu privire la vulnerabilitatea climatică a Rezervației Biosferei „Prutul de Jos”. Peste 100 de specii din Rezervația Biosferei Prutului de Jos sunt deosebit de vulnerabile la schimbările climatice și vor fi necesare măsuri specifice pentru a supraviețui acestora. Schimbările climatice vor altera, de asemenea, condițiile de viață și mijloacele de trai ale oamenilor, iar locuitorii din nouă sate din cadrul RBPJ vor trebui să identifice modalități pentru a-și construi vieți mai durabile și mai rezistente la climă. Partenerul proiectului pentru creșterea potențialului de vizibilitate și implicare a cetățenilor este Asociația Presei Independente (API).
Persons: Gunther Zimmer Organizations: Agenția Austriacă, CCE, Cahul, Uniunii Europene, Uniunea Europeană, UE, Agenția, Cooperare, Germaniei, Presei Locations: Jos, Cahul, Republica Moldova, CCE Cahul, Chișinău, Raionul Cahul
Patru companii internaționale de top au adus un aprilie intens la Universitatea Tehnică a MoldoveiPe parcursul lunii aprilie, administrația Facultății Electronică și Telecomunicații (FET) a Universității Tehnice a Moldovei a organizat în colaborare cu patru companii internaționale de top o serie din 12 workshop-uri online pentru studenții de la ciclurile I – Licență și II – Master. univ., dr. în domeniul sisteme informaționale, inteligență artificială și managementul datelor, Universitatea de Stat din California (SUA), campusul din San Jose (San Jose State University), Departamentul Computer Engineering – „Gestionarea datelor”. Survival kit for new employees”;TOADER Rebeca, Team Lider, echipa de recrutare, Stefanini România – „Time Management”;Maria-Teodora MAFTEI, Recruitment Specialist, Stefanini România, Ana-Maria TIHON, Team Leader, SDC, Stefanini Moldova, și Ion MASLENCO, Senior Software Tester, ADC, Stefanini Moldova – prezentări pe tema: „Learn IT. Acest material a fost scris și redactat de echipa UTM. Informațiile prezentate în acest material nu reflectă nici într-un mod opiniile echipei #diez.
Persons: Master, Serghei ISTRATI, Radu DRUȚĂ, Gheorghi GUZUN, Cristina, Rebeca TOADER, TOADER Rebeca, Maria, Teodora MAFTEI, Ana - Maria TIHON, Ion Organizations: Universitatea Tehnică, Moldovei, Universității Tehnice, Technologies, Compania Althays GROUP, Business, Universitatea de Stat, San Jose State University, Departamentul Computer, Senior Software, Althays GROUP, Computer Engineering, Universitatea Tehnică a Moldovei, UTM Locations: PMO, Annecy, Franța, California, SUA, San Jose, San Jose State, Moldova, România, SDC, ADC
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