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☆ AstraZeneca shares fall 5% on disappointing lung cancer drug trial results
▼ + stars: | 2024-09-10 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An illustrative image of a person holding a medical syringe and a Covid-19 vaccine vial in front of the the AstraZeneca logo displayed on a screen. On Wednesday, January 12, 2021, in Edmonton, Alberta, Canada. (Photo by Artur Widak/NurPhoto via Getty Images)AstraZeneca shares fell more than 5% Tuesday morning, the biggest one-day drop in seven months, after the British pharmaceutical giant announced disappointing lung cancer drug trial results. The Covid-19 vaccine maker was trading at the bottom of the FTSE 100 and dragged the wider healthcare sector lower after data published Monday showed that its experimental drug did not significantly improve overall survival results for patients. The late-stage trial results from the TROPION-Lung01 Phase III trial showed that the overall survival rate from the new drug "did not reach statistical significance," the company said.

Persons: Artur Widak Organizations: AstraZeneca, Getty Images Locations: Edmonton , Alberta, Canada, London

City of London skyline on 10th June 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. Mike Kemp | In Pictures | Getty ImagesLONDON — European stocks were mixed on Tuesday, following a more positive session at the start of the week. The more mixed picture for European stocks today comes after regional markets closed higher on Monday, shrugging off last week's negative sentiment. Investors are largely looking ahead to next week's meeting of the U.S. Federal Reserve where an interest rate cut is widely anticipated.

Persons: Mike Kemp, Germany's DAX, shrugging Organizations: CAC, Tech, AstraZeneca, Nasdaq, Investors, U.S . Federal Reserve Locations: London, United Kingdom, The City, Asia, Pacific

☆ Pharma giant GSK plunges 9% after U.S. court allows scientific testimony in Zantac lawsuits
▼ + stars: | 2024-06-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Company logo of pharmaceutical company GlaxoSmithKline is seen at their Stevenage facility, Britain October 26, 2020. LONDON — Shares of British pharmaceuticals giant GSK plunged 9% Monday, after a U.S. court ruled that scientific evidence could be presented in a stack of lawsuits relating to the discontinued heartburn drug Zantac. The Delaware State Court late on Friday ruled that plaintiffs' expert witnesses could testify in the roughly 75,000 cases alleging the once-popular drug ranitidine — sold under the brand name Zantac in the U.S. — may cause cancer. The companies involved deny there is a scientific consensus that the drug can be linked to any later development of cancers. In a statement Friday, GSK said it disagreed with the latest Delaware ruling and would immediately seek an appeal.

Persons: ranitidine —, Brent Wisner, Wisner Baum, Zantac Organizations: GlaxoSmithKline, Stevenage, GSK, Delaware State Court, France's, Pfizer, Germany's Locations: Britain, Delaware, U.S, France's Sanofi

☆ History shows the best trade has usually been to buy the stock getting kicked out of the Dow Industrials
▼ + stars: | 2024-02-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

If history is any guide, Walgreens Boots Alliance may fare better after getting tossed from the Dow Jones Industrial Average . In fact, data shows that betting on a stock that's leaving the Dow is often a better trade for investors than buying shares of a stock that's entering the 127-year-old average. What history shows Alcoa was the best-performing stock among the last 10 outgoing Dow members. For example, Honeywell International surged more than 40% one year after joining the Dow, while UnitedHealth rallied nearly 28%. General Electric , the last of the original 12 Dow stocks, plunged about 58% one year after leaving the average in 2018.

Persons: bode, Ned Davis, Goldman Sachs, —, Amgen —, UnitedHealth, DuPont de Nemours, Fred Imbert Organizations: Walgreens Boots, Dow Jones, Walgreens, Dow, General Electric, WBA, CNBC Pro, Ned Davis Research, NDR, Alcoa, HP, Bank of America, Nike, Visa, RTX Corporation, Exxon Mobil, Pfizer, Apple, Honeywell International, DuPont de Locations: U.S

☆ Morgan Stanley likes biopharma as a defensive play — giving one stock 119% upside
▼ + stars: | 2024-01-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The biopharmaceutical sector is expected to offer a safe haven from macroeconomic and earnings concerns ahead of final quarterly results from companies, according to Morgan Stanley. Morgan Stanley, however, cautioned that the outlook for drug pricing reform in the U.S. poses risks for the sector. Shares of Indivior , argenx , AstraZeneca , Merck , Lonza, Sweden's Sobi, Novo Nordisk and Sandoz Group were among those listed by Morgan Stanley with a "buy" rating. In a bull case where Sublocade hits $2.2 billion in sales by 2030, Morgan Stanley sees shares rising further to 3,500 British pence. Novo Nordisk Shares of Novo Nordisk , a leader in diabetes and obesity drugs, offer a 9.4% upside, according to Morgan Stanley.

Persons: Morgan Stanley, Mark D Purcell, Sweden's, Sublocade, Thibault Boutherin, Morgan, — CNBC's Michael Bloom Organizations: Barclays, Bank of America, AstraZeneca, Merck, Lonza, Novo Nordisk, Sandoz Group, AstraZeneca AstraZeneca, British pharma, EU Locations: U.S, argenx, Novo, Indivior

☆ Stocks making the biggest moves premarket: AstraZeneca, Wayfair, Alibaba and more
▼ + stars: | 2023-09-22 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

AstraZeneca — Shares of the British pharmaceutical company gained more than 2.7% in premarket trading after the company reported positive results for its drug Dato-DXd in a trial for treating a common type of breast cancer. Wayfair — Shares gained more than 2% after Bernstein upgraded home merchandiser to market perform from underperform. Chinese e-commerce stocks — U.S. listed shares of Alibaba and PDD Holdings added nearly 4% in premarket trading, while JD.com rose 3.3%. Arm Holdings — Shares of the chip designer added 1.3% during premarket trading. Yeti — Shares gained about 3% in the premarket.

Persons: Bernstein, Canaccord Genuity, Wells, Ralph Lauren —, Raymond James, Rick Patel, Jefferies, — CNBC's Pia Singh, Sarah Min, Samantha Subin, Tanaya Macheel, Brian Evans, Michelle Fox Organizations: AstraZeneca, AstraZeneca —, U.S, PDD Holdings, Bloomberg, Seagen, Deere, Susquehanna, Communications Locations: COVID, Smithfield, Sydney, DXd, Alibaba, China, drinkware

CompaniesCompanies Law Firms Pfizer Inc FollowSanofi SA FollowJune 23 (Reuters) - GSK (GSK.L) reached a settlement with a U.S. citizen who alleged its discontinued heartburn drug Zantac caused cancer, the British pharmaceutical giant said on Friday, preventing the first such lawsuit from going to trial. The case, brought by California resident James Goetz in Alameda County Superior Court, was to go to trial on July 24 and would have been the first test of how Zantac cancer claims fared before a jury. The parties reached a confidential settlement and the trial will be dismissed, GSK said. Originally marketed by a forerunner of GSK Plc, Zantac was later sold successively to Pfizer (PFE.N), Boehringer Ingelheim and finally Sanofi (SASY.PA). Last month, a Canadian court dismissed a proposed class action against Zantac over increased cancer risk.

Persons: James Goetz, Zantac, Boehringer Ingelheim, GSK's, Eva Mathews, Dhanya Ann Thoppil, Barbara Lewis Organizations: Law, Pfizer, Sanofi, GSK, Alameda County Superior Court, GSK Plc, U.S . Food, Drug Administration, Thomson Locations: California, Alameda County, U.S, Zantac, Bengaluru

☆ Citi names its top biotech and pharma stock picks, giving one nearly 90% upside
▼ + stars: | 2023-05-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The healthcare sector outperformed in Europe, India and China last month, according to Citi, which named its top picks worldwide. It gave Amylyx a price target of $53, giving it upside of around 88% from current levels. It gave Beam a price target of $60, implying upside of around 67%. Other European picks from Citi include Swiss healthcare company Roche and British pharma and biotech firm AstraZeneca . Asia stocks In Asia, Citi named Japanese pharmaceutical company Daiichi Sankyo , South Korean biotech firm Samsung Biologics and China's Wuxi Biologics as top picks.

CNN —A panel in Japan’s health ministry has approved the country’s first abortion pill, in a major step for reproductive rights decades after other countries made abortion medication widely available. The ministry’s pharmaceutical board granted approval on Friday to the MeFeego Pack, an abortion pill manufactured by British pharmaceutical Linepharma, according to a spokesperson from the Ministry of Health, Labor and Welfare. The medication consists of two types of pill, and can be used within nine weeks of pregnancy, according to Japanese public broadcaster NHK. In a clinical trial in Japan, 93% of participants had a complete abortion within 24 hours, NHK reported. Kanako Inaba, an obstetrician and gynaecologist, wrote on Twitter that the approval of abortion pills was an opportunity to spread greater sex education and awareness about contraceptive methods.

☆ U.S. due diligence firm Mintz Group says Beijing office raided, staff detained
▼ + stars: | 2023-03-24 | by ( Michael Martina | ) www.reuters.com time to read: +1 min

WASHINGTON, March 23 (Reuters) - U.S. corporate due diligence firm Mintz Group said on Thursday its Beijing office was raided by authorities and that five Chinese staff have been detained. "We can confirm that Chinese authorities have detained the five staff in Mintz Group’s Beijing office, all of them Chinese nationals, and have closed our operations there," the company said in an emailed statement to Reuters. “Mintz Group received no advance notice of the actions taken in Beijing this week, nor has the company received any official legal notice regarding a case against the company. The company's website says Mintz Group has 18 offices around the world and hundreds of employees. Western due diligence companies have gotten into trouble with Chinese authorities before.

☆ US due diligence firm Mintz Group says staff detained in China after office raid
▼ + stars: | 2023-03-24 | by ( Michael Martina | ) www.reuters.com time to read: +3 min

WASHINGTON, March 23 (Reuters) - U.S. corporate due diligence firm Mintz Group said on Thursday its Beijing office was raided by authorities and five Chinese staff were detained, stoking worry among foreign companies in China just as its capital hosts an international economic forum. "We can confirm that Chinese authorities have detained the five staff in Mintz Group's Beijing office, all of them Chinese nationals, and have closed our operations there," the company said in an emailed statement to Reuters. "Mintz Group has not received any official legal notice regarding a case against the company and has requested that the authorities release its employees," the company said. 'RED ALERTS'As per Mintz Group's website, the Beijing office is its only one in mainland China. Western due diligence companies have gotten into trouble with Chinese authorities before.

☆ Novo Nordisk suspended from UK lobby group
▼ + stars: | 2023-03-16 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

ABPI's statement linked to a website of a self-regulatory body run by the association that pointed to a complaint alleging that Novo Nordisk had sponsored courses on weight management on LinkedIn for health professionals, without making clear the company's involvement. The move amounted to "bribing health professionals with an inducement to prescribe," the complaint alleged. In response, Novo said that it had agreed to provide sponsorship to ensure that health professionals would receive training from a reputable provider, but that it had supported the activity at "arms length". Novo is the market leader in the rapidly growing area of weight loss through medicinal treatment rather than only dieting or exercising. Novo has since developed a more effective obesity treatment called Wegovy, which has been in great demand globally and is being lined up for its UK launch.

☆ BofA says these global stocks can weather a choppy market — and are 'inexpensive'
▼ + stars: | 2023-02-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

As sentiment turns a little bearish, BofA screened for cheaper global stocks that proved resilient during the financial crisis of 2008. Europe has been one of the brightest spots in the global stock market this year, with Wall Street calling the region a better bet than the U.S. right now . BofA screen BofA screened for European stocks that met the following criteria: Inexpensive compared with the past 15 years' average 12-month forward price to earnings ratio. According to FactSet, analysts covering the stock gave it average potential upside of around 23%, and 62% rated it a buy. According to FactSet, analysts covering the stock gave it average potential upside of around 26%, and 78% rated it a buy.

☆ Investor Sarat Sethi said he is buying into this 'unloved' pharma stock
▼ + stars: | 2023-02-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time for investors to get back into British pharmaceutical company GSK , according to investor Sarat Sethi. He has been adding to the stock that was known as GlaxoSmithKline since buying it a couple months ago, Sethi told the panel on CNBC's " Halftime Report " on Monday. GSK shares have notably underperformed this year. While the S & P 500 has rallied more than 7% since the start of 2023, GSK shares are just slightly higher for the year, up 0.6%. Hightower's Stephanie Link approved of the buy, saying that GSK has a "great story."

[1/2] FILE PHOTO: Larry Fink, Chairman and CEO of BlackRock, arrives at the DealBook Summit in New York City, U.S., November 30, 2022. The major prize Bluebell has so far scored was at Danone, where it helped oust a chief executive. By comparison, the average activist hedge fund was down 14% for 2022 in November, according to Hedge Fund Research data. BlackRock has also not responded to Bluebell's request to shake up its board and review its environmental, social, and corporate governance (ESG) strategy. Even if Bluebell does not win concessions from BlackRock, it has at least bet on a company that has performed well in the past.

☆ We're closer to getting the first new pill to treat UTIs in over 20 years
▼ + stars: | 2022-11-03 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +4 min

It would be the first new pill to treat uncomplicated UTIs in 20 years, GSK said. The drug, called gepotidacin, could become the first new oral antibiotic for uncomplicated UTIs in more than two decades, according to the company. GSK's drug was tested in uncomplicated UTIs, which are restricted to the the bladder and urethra and are generally less serious than complicated UTIs. On Thursday, GSK said two studies enrolled over 3,000 patients with uncomplicated UTIs. GSK, on the other hand, paid $66 million in September to license another antibiotic program being tested to treat complicated UTIs.

☆ Mukesh Ambani pulls off one shade of overseas M&A
▼ + stars: | 2022-09-19 | by ( Una Galani | ) www.reuters.com time to read: +3 min

MUMBAI, Sept 19 (Reuters Breakingviews) - Mukesh Ambani’s overseas shopping spree is so far more splash than cash. Ambani calls this the “newest growth engine” and “far more global in scope than anything Reliance has ever done before”. Earlier this month, Reliance bought a majority stake in SenseHawk, which develops software-based management tools for solar energy generation. The unknown, following the failed flutter at Boots, is where Ambani’s global ambitions stop. CONTEXT NEWSMukesh Ambani’s Reliance Industries on Sept. 5 announced an agreement to acquire a majority stake in California-based SenseHawk for $32 million.

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