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Elevated bond yields and geopolitical uncertainty continued to be negative for stocks this week as the overall market moved into oversold territory. The closely followed S & P 500 Short Range Oscillator first flashed oversold Monday and went deeper and deeper into oversold territory as the week went along. ORCL YTD mountain Oracle YTD However, shares fell on worries that cash flows from AI workloads would be further out in the future. CTRA YTD mountain Coterra Energy YTD We bought 200 more shares of Coterra Energy (CTRA). META YTD mountain Meta Platforms YTD We also on Thursday decided to upgrade Meta Platforms (META) to our buy-equivalent 1 rating as the stock riding a two-day losing streak.
Persons: Jim Cramer, Jim Cramer's, Jim, Squawk, Virginia Sherwood Organizations: Treasury, Oracle, Constellation Brands, Constellation, Coterra Energy, Natural Resources, Exxon Mobil, CNBC Locations: oversold, Danaher
But shares of the life sciences and medical diagnostics company remain under pressure after management was forced to lower expectations for one of its key businesses. We used Tuesday's sell-off in Danaher shares to add to our position . Driving this forecast is an expectation for biotechnology sales drop in the mid-20% range, life sciences sales to decline by mid-single digit percentage points, and for diagnostics to be down about 20%. Assuming no additional headwinds in the fourth quarter, management reiterated their full year outlook for the bioprocessing base business to be down 10% on a full-year basis. The life sciences unit was hampered by pressure in the instruments business.
Persons: hasn't, Rainer M, Blair, Sartorius, Danaher, Jim Cramer's, Jim Cramer, Jim, Virginia Sherwood Organizations: Revenue, Guidance Management, Management, CNBC, NYSE Locations: Bioprocessing, Danaher, China, Veralto
We're buying 30 shares of Danaher (DHR) at roughly $199 each. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 550 shares of DHR, increasing its weighting in the portfolio to 4.08% from 3.87%. Danaher reported a better-than-expected third-quarter Tuesday morning, but the stock is under pressure in early trading due to uncertainty around the recovery in its bioprocessing business. We kept the shares of Veralto that we received as owners of DHR stock. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Danaher, Bioprocessing, Sartorious, Sartorius, Jim Cramer, Jim Organizations: DHR, Sciences, Stocks, Management, CNBC, Traders, New York Stock Exchange, NYSE Locations: Danaher
Pro Take: Making Medicines Greener
  + stars: | 2023-10-19 | by ( Cecilia Butini | ) www.wsj.com   time to read: +6 min
Photo: mohamed hossam/ShutterstockMaking and supplying medicines generates roughly a third of the global healthcare industry’s greenhouse-gas emissions. Photo: Carlos Jasso/Bloomberg NewsBritish drugmaker GSK , for instance, plans to run on 100% renewable electricity by 2025 and to reach net-zero emissions across its value chain by 2045. GSK partnered with AstraZeneca , Merck KGaA, Novo Nordisk , Roche Holding , Samsung Biologics and Sanofi to form the SMI Health Systems Task Force in 2021. Last year, the partnership decided to strengthen their collaboration by focusing on cutting emissions in the near term and transitioning faster toward net-zero health systems. Novartis aims to achieve net-zero emissions across its value chain by 2040.
Persons: mohamed hossam, Carlos Jasso, “ We’ve, , Mike Peirce, Aurelio Arias, Arias, Claire Lund, Sanofi, Annabelle Harreguy, IQVIA’s Arias, “ It’s, ” Arias, Cecilia Butini Organizations: Pharmaceutical, Pharma, GSK, Bloomberg News British, Climate Group, Climate, Business, Sustainable Markets, Health Systems, Force, AstraZeneca, Merck KGaA, Novo Nordisk, Roche Holding, Samsung Biologics, Sanofi, SMI, Systems, Novartis, World Health Organization, cecilia.butini@wsj.com Locations: GSK’s, China, India, Novo
Weight-loss drugs fuel boom for firms that fill syringes
  + stars: | 2023-10-09 | by ( Maggie Fick | ) www.reuters.com   time to read: +6 min
[1/5] Catalent's automated visual inspection systems that check every pre-filled syringe to ensure product integrity are seen, in Brussels, Belgium, 2023. Eli Lilly's (LLY.N) Mounjaro is expected to be approved for weight-loss in the United States this year. The U.S. Inflation Reduction Act is also boosting development of biologic drugs, some of which are injected. Injectables are increasingly used in elderly care settings, and some new Alzheimer's and generic arthritis drugs are administered by injection. One healthcare investor said CDMOs' ability to boost capacity will determine how fast the obesity drug market grows.
Persons: Wegovy, it's, Savant, Morgan Stanley, Eli Lilly's, Mounjaro, Chris Chen, Cornell Stamoran, Fujifilm Diosynth, Germany's Vetter, Lilly, Marc Casper, CDMOs, Luke Sergott, Catalent, Catalent's Stamoran, Maggie Fick, Patrick Wingrove, Josephine Mason, Catherine Evans Organizations: REUTERS Acquire, Pfizer, HK, Fujifilm, Fujifilm Corp, Novo, Reuters, Research, Insight Partners, Barclays, Thomson Locations: Brussels, Belgium, Handout, United States, WuXi, Europe, GLP, Anagni, Italy, Bloomington , Indiana, U.S, New York
Ring is offering a prize for anyone who captures proof of aliens on their doorbell camera. It comes amid a rising number of UFO sightings in the US. AdvertisementAdvertisementEvidence is growing that there is life on other worlds – and now Ring is offering a $1 million prize for anyone with hard proof. The Amazon-owned smart home security device company said it will offer the prize to anyone who captures "unaltered scientific evidence" of extraterrestrial life on their doorbell camera. The number of sightings of UAPs has spiked in recent years, with the US government tracking some 650 UAP incidents.
Persons: , David Grusch, Jaime Maussan Organizations: Service, NASA, SETI, Pentagon Locations: Mexico
The Food and Drug Administration on Tuesday granted emergency use authorization to the updated COVID-19 vaccine from Novavax, marking the third new coronavirus shot that will be made available to the public ahead of the winter and the only not produced with messenger RNA technology. FDA authorized the shot for people ages 12 and older just weeks after shots from Moderna and Pfizer rolled out. “Today’s authorization provides an additional COVID-19 vaccine option that meets the FDA’s standards for safety, effectiveness and manufacturing quality needed to support emergency use authorization,” Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research, said in a statement. Some individuals are skeptical of the new technology, instead opting for Novavax’s more traditional use of protein-based technology. “In the coming days, individuals in the U.S. can go to major pharmacies, physicians’ offices, clinics and various government entities to receive an updated Novavax vaccine.”
Persons: , ” Peter Marks, , John Jacobs Organizations: Drug Administration, FDA, Moderna, Pfizer, FDA’s, Biologics, Research, Health, Covid Locations: U.S
The U.S. Federal Reserve struck a hawkish tone at its latest meeting and Treasurys have risen to multi-year highs . According to Morgan Stanley, those conditions could put certain stocks in Asian and emerging markets at a disadvantage. "We believe large cap growth stocks, particularly the low quality and unprofitable ones, could come under pressure," they said. More specifically, those set to be "disadvantaged" are high-growth names "with low balance sheet quality" and low free cash flow yield. Morgan Stanley had an underweight rating for Alibaba Health Information Technology , a Chinese integrated pharmaceutical services provider.
Persons: Morgan Stanley, Meituan, Xero, CNBC's Michael Bloom Organizations: U.S . Federal Reserve, Sony, Hong, New, Nio, HK, Alibaba Health, Technology Locations: U.S, Hong Kong, New Zealand
Organon is an undervalued global play and leader in women's specialty health, according to Barclays. The company, with a portfolio of about 60 treatments and products focused on women's health, was spun off from Merck in 2021 . Barclays analyst Balaji Prasad initiated coverage on Organon with an overweight rating. The company could also generate more than $1 billion in annual free cash flow during that span, he added. Organon's prescription birth control Nexplanon is the key driver to its women's health portfolio as the Nexplanon "pipeline continues to progress toward commercialization," he added.
Persons: Balaji Prasad, Prasad, Nexplanon, — CNBC's Michael Bloom Organizations: Barclays, Merck, Health Locations: Wednesday's
COVID-19 deaths and hospitalizations have been on the rise in the U.S. as fall approaches. Nearly 845 coronavirus deaths were reported for the week ending Aug. 19, according to provisional data from the Centers for Disease Control and Prevention. That’s up from about 520 deaths a month prior. Meanwhile, COVID-19 hospitalizations have been increasing in the U.S. for nine weeks, reaching more than 20,500 new hospital admissions during the week ending Sept. 9 – an increase of nearly 8% from the prior week. While the totals are smaller than in previous waves of the virus in the U.S., they mark noteworthy trends heading into the fall and winter seasons.
Persons: ” Peter Marks, Organizations: Centers for Disease Control, CDC, , Food, Drug Administration’s, Biologics, Research, EG Locations: U.S, COVID
This segment also handles the formulation, development and manufacturing for parenteral dose forms, including vials and prefilled syringes. Activist Commentary: Elliott is a very successful and astute activist investor, particularly in the technology sector. While as an activist Elliott will do whatever it feels is necessary to enhance shareholder value, in the past the firm has made significant use of the strategy of offering to acquire its portfolio companies as the best catalyst to enhance shareholder value. Like Catalent, Syneos is an outsourced pharma solutions company: It outsources R&D for pharmaceutical companies, whereas Catalent outsources manufacturing. If this does turn from a strategic review to an operational review, there is no guarantee that he keeps his job.
Persons: Catalent, there's, Elliott, Steven Barg, Frank D'Amelio, Stephanie Okey, Michelle Ryan, Johnson, Barg, Ryan, John Greisch, There's, Danaher, Alessandro Maselli, Ken Squire Organizations: Oral Technologies, Clinical, Pfizer, Rom Holdings, Bloomberg, Merck, Citrix Systems, Nielsen Holdings, Square, Veritas Capital, Syneos Health, 13D Locations: COOs, North America
watch nowThe IPO market has lost relevance in the real economy, but there are "absolutely enormous" opportunities in the health-care sector, according to the executive chairman of global private markets firm Partners Group. Private markets are switching places with public markets as the stewards of the real economy. "Private markets are switching places with public markets as the stewards of the real economy," said Partners Group. Partners' Group recorded $142 billion worth of assets under management as of the first half of 2023. Asked whether Partners Group will someday open up the window for retail investors to tap into the private equity market, Meister said it's already happening, marking a "democratization" of the private market industry.
Persons: Steffen Meister, CNBC's Chery Kang, Meister, it's Organizations: Partners, Milken Asia Summit, Bain & Company, Private, CNBC, McKinsey Locations: Singapore
The Food and Drug Administration on Monday authorized updated COVID-19 shots that could roll out as soon as this week. “Vaccination remains critical to public health and continued protection against serious consequences of COVID-19, including hospitalization and death,” said Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research. “The public can be assured that these updated vaccines have met the agency’s rigorous scientific standards for safety, effectiveness, and manufacturing quality. The fall booster shot campaign comes as the U.S. sees its seventh straight week of rising COVID-19 hospitalizations. COVID-19 deaths appear to be rising slightly, but the provisional data from the CDC is prone to amendments and delays.
Persons: , Peter Marks Organizations: Drug Administration, FDA’s, Biologics, Centers for Disease Control, EG Locations: U.S
Eli Lilly's revenue from Jardiance — which it markets alongside privately held German biotech firm Boehringer Ingelheim — is likely to suffer due to Medicare negotiations. Compared to those growth drivers, Jardiance is a minor character in the Eli Lilly investment story. However, the deceleration is not entirely due to likely lower realized prices from Medicare negotiations. Eli Lilly looks "relatively protected" from early Medicare negotiations, BMO's Seigmerman said. Eli Lilly headquarters in Indianapolis, Indiana, US, on Wednesday, May 3, 2023.
Persons: Eli Lilly, Biden, Myers Squibb, Johnson, Eli Lilly's, , Evan Seigerman, Seigerman, BMO's Seigmerman, Lilly, Jim Cramer's, Jim Cramer, Jim, AJ Mast Organizations: pharma, Myers, Club, Johnson, Medicare, donanemab, Bank of America, FactSet, Mounjaro, Merck, Constitution, Wall Street, Bristol Myers Squibb, BMO Capital, CNBC, Services, drugmakers, and Drug Administration, FDA, Trulicity, Bloomberg, Getty Locations: Bristol, U.S, Indianapolis , Indiana
A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. Catalent named three pharma industry executives and a senior Elliott executive to its board and said John Greisch, who has served on the board since 2018, will become executive chairman. Elliott, whose stake in Catalent became public last month, has been engaging with the company behind the scenes for months. Two of the directors were picked by Elliott, while two were mutually agreed by Elliott and Catalent. Catalent is also forming a new strategic and operational review committee which Greisch will chair.
Persons: Yves Herman, Elliott, Catalent, Alessandro Maselli, John Greisch, Max, William Blair, Maselli, Steven Barg, Goldman Sachs, Frank D'Amelio, Stephanie Okey, Michelle Ryan, Greisch, Merck KGaA, Svea Herbst, Bayliss, Maggie Fick, Sriparna Roy, Shinjini Ganguli, Catherine Evans, Mike Harrison Organizations: REUTERS, Catalent Inc, Elliott Investment Management, Reuters, Novo, pharma, U.S . Food, Drug Administration, Pfizer, Johnson, Catalent, Svea, Thomson Locations: Brussels, Belgium, ., Danish, Novo, United States, Catalent, GLP, Boston, London, Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBMO's Evan Seigerman discusses unintended consequences from Medicare drug cost battleEvan Seigerman, biopharma sector analyst at BMO Capital Markets, joins 'The Exchange' to discuss the margin hit pharmaceutical companies will experience from Medicare drug price regulations, a reprioritization of what drugs are developed, and the time horizons for developing small molecule treatments compared to biologics.
Persons: Evan Seigerman Organizations: BMO Capital Markets
A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. The sources declined to be identified because the information is confidential and cautioned a deal could still collapse at the last minute. Spokespeople for Catalent and Elliott declined to comment. In the past when Elliott has pushed for sales of pieces or the entire target company, including at eBay and Switch Inc., and then won board representation, significant ownership changes have followed. Novo Nordisk's weight-loss drug Wegovy is filled by Catalent’s Brussels factory and last week Reuters reported that Catalent’s plant in Bloomington, Indiana will begin filling Wegovy injection pens for Novo.
Persons: Yves Herman Acquire, Elliott, Catalent, Elliott isn't, Keith Meister's, Scott Ferguson's, Mauricio Gutierrez, Svea Herbst, Bayliss, Maggie Fick, Shri Navaratnam Organizations: REUTERS, Catalent, Elliott Investment Management, AstraZeneca, Johnson, Moderna, eBay, Inc, Deutsche Bank, Management, Capital Management, Reuters, NRG, Svea, Thomson Locations: Brussels, Belgium, U.S, Bloomington , Indiana, Novo, Boston, London
A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. Spokespeople for Catalent and Elliott declined to comment. The U.S.-based contract drugmaker is also Danish company Novo Nordisk's (NOVOb.CO) main manufacturing partner for its popular weight-loss drug Wegovy. The volatility at Catalent could increase scrutiny on the relationship between Novo and its partner. Reuters reported last week that a second Catalent factory will begin filling Wegovy injection pens for Novo as part of an expanded supply agreement.
Persons: Yves Herman Acquire, Elliott, drugmaker, Markus Manns, Catalent, Elliott isn't, Keith Meister's, Scott Ferguson's, Mauricio Gutierrez, Svea Herbst, Bayliss, Maggie Fick, Amanda Cooper, Shri Navaratnam, Bernadette Baum, Catherine Evans Organizations: REUTERS, Elliott Investment Management, Catalent, Novo, Reuters, Union Investment, AstraZeneca, Johnson, Moderna, eBay, Inc, Deutsche Bank, Management, Capital Management, NRG, Svea, Thomson Locations: Brussels, Belgium, U.S, Danish, Novo, United States, Germany, Boston, London
[1/3] A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsAug 25 (Reuters) - Novo Nordisk Chief Executive Lars Fruergaard Jorgensen said on Friday he was confident Catalent (CTLT.N) would resolves its problems making Novo's hugely-popular weight-loss drug Wegovy as the company scrambles to boost output to meet soaring demand. "I am confident in that," Jorgensen said at a Reuters Newsmaker event, when asked about the issues Catalent has had. Novo hopes to have a third external facility filling and finishing the injection pens by 2024, Jorgensen said. Even so, it will be "quite some years" before the company can satisfy the whole market for Wegovy, Jorgensen said.
Persons: Yves Herman, Lars Fruergaard Jorgensen, Jorgensen, Catalent, Novo, Maggie Fick, Josephine Mason, Mark Potter Organizations: REUTERS, Novo Nordisk, Reuters, Wegovy, Thomson Locations: Brussels, Belgium, Danish
CVS Health is partnering with drugmaker Sandoz to produce a near identical version of the blockbuster arthritis treatment Humira that will sell for 80% below the price of the brand-named drug. The move is part of the company's new venture focused on securing, and in some cases co-producing, biosimilar drugs, which are the equivalent of generic versions of complex gene or protein-based therapies known as biologics. CVS is already one of the leading players when it comes to sourcing generic drugs through Red Oak, its joint venture with Cardinal Health . Abbvie reported more than $4 billion in Humira sales in its most recent quarter, which was slightly better than expected. Correction: CVS Health subsidiary Cordavis will partner with Sandoz on biosimilar drugs.
Persons: drugmaker Sandoz, We've, it'll, Prem Shah, drugmaker, Amgen's Amjevita, Murdo Gordon, Abbvie, Cuban's, John Ransom, Raymond James, Ransom, Sandoz Organizations: CVS Health, CVS, Cardinal Health, Novartis Pharmaceuticals, Sandoz, Novartis, FDA, Blue, Drug Company, Amazon Pharmacy Locations: U.S, Red, California
Daiwa reiterates Disney as buy Daiwa is standing by its buy rating on Disney after the company's earnings report last week. Deutsche Bank reiterates Palo Alto Networks as buy Deutsche Bank is bullish heading into earnings later this week. Barclays reiterates Walmart as overweight Barclays is bullish heading into earnings later this week. " Bank of America downgrades Phillips 66 and Marathon Petroleum to neutral from buy Bank of America downgraded several refiners and said the risk/reward is "no longer compelling." Bank of America initiates Turnstone Biologics as buy Bank of America said the biopharmaceutical company is well-positioned.
Persons: it's, Daiwa, KBW, Berkshire Hathaway, Morgan Stanley, Pharvaris, Wells Fargo, Wells, it's bullish, Hannon Armstrong, KeyBanc, PSTG, " Bank of America downgrades Phillips, DINO, Ford Organizations: UBS, Nvidia, Disney, Deutsche Bank, Networks, JPMorgan, Citigroup, Bank of America, ISI, Barclays, Walmart, " Bank of America, of America, Marathon Petroleum, U.S, MPC, Ford
Check out the companies making headlines in premarket trading. Discover Financial Services — Shares slipped 6.5% after CEO Roger Hochschild resigned. Turnstone Biologics — Stock in the biotechnology company slipped 2.3% in premarket trading. Earlier on Tuesday, investment firm Piper Sandler initiated coverage of the stock with an overweight rating. Hannon Armstrong Sustainable Infrastructure Capital — The renewable energy investment firm climbed 2.1% after Bank of America upgraded shares to buy.
Persons: Roger Hochschild, John Owen, Turnstone, Piper Sandler, Horton —, Warren, Berkshire Hathaway, Horton, Hannon Armstrong, Phillips, Morgan Stanley, JPMorgan, Fitch, Wells Fargo, Baird, Steel, , Alex Harring, Jesse Pound Organizations: Nvidia Corporation, Discover Financial, Bank of America, Hannon Armstrong Sustainable Infrastructure Capital, Banks, JPMorgan Chase, Citigroup, CNBC, Nvidia, UBS Locations: Taipei, Taiwan, The Texas, Cleveland
Check out the companies making headlines in midday trading. Banks — Major Wall Street banks slid during midday trading after CNBC reported Tuesday that Fitch Ratings may once again downgrade the health of the banking sector. Shares of Bank of America and JPMorgan Chase slid 2%, while Citigroup and Morgan Stanley each fell more than 1%. Paramount Global — Paramount Global shares climbed 2% in midday trading. Turnstone Biologics — The biotechnology stock added 1.96% in midday trading.
Persons: Banks, Fitch, JPMorgan Chase, Morgan Stanley, Roger Hochschild, John Owen, Hannon Armstrong, Hannon Armstrong Sustainable Infrastructure Capital — Hannon Armstrong, Homebuilders, Warren Buffett's Berkshire, D.R, Horton, Lennar, Wells Fargo, Baird, Turnstone, Piper Sandler, , Alex Harring, Jesse Pound, Tanaya Macheel, Pia Singh, Samantha Subin Organizations: CNBC, Bank of America, JPMorgan, Citigroup, Citizens Financial Group, U.S . Steel, Esmark, U.S, Steel, Discover Financial, Hannon Armstrong Sustainable Infrastructure Capital, Hannon Armstrong Sustainable Infrastructure Capital — Hannon Armstrong Sustainable Infrastructure Capital, Paramount Global, The Alliance, Motion Pictures, Television Producers, Bloomberg, Warren Buffett's Berkshire Hathaway, Nvidia, UBS, Investment Locations: Cleveland, Warren Buffett's
A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. Keith Meister's Corvex Management and Scott Ferguson's Sachem Head Capital Management each disclosed buying Catalent stock in the second quarter and owning it on June 30. Corvex initiated a new position in Catalent, buying 5.7 million shares during the second quarter, while Sachem Head purchased 662,000 shares during the quarter, also a new position for the fund. While Elliott is among the world's most prominent and busiest activist investors, both Corvex and Sachem Head have in the past targeted other companies and successfully lobbied for board seats. Representatives for Corvex and Sachem Head declined to comment beyond the filings.
Persons: Yves Herman, Keith Meister's, Scott Ferguson's, Corvex, Elliott, Catalent, Svea Herbst, Bayliss, Sonali Paul Organizations: REUTERS, Elliott Investment Management, Management, Capital Management, Sachem, Corvex, AstraZeneca, Johnson, Moderna, Svea, Thomson Locations: Brussels, Belgium, Catalent, Europe, United States
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiocon Biologics is well-placed to take advantage of opportunities in the biosimilars space: CEOShreehas Tambe of Biocon Biologics discusses why he is optimistic about the prospects for the company.
Persons: Shreehas, Biocon Biologics
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