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☆ Biden administration will select first 10 drugs for Medicare price negotiations by September
▼ + stars: | 2023-01-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The negotiated prices for those 10 Medicare Part D drugs will go into effect in January 2026. This includes drugs for rare diseases, plasma or blood-derived products, drugs developed by small biotech companies and drugs that Medicare spends less than $200 million on. The products may not be part of the eventual price negotiations due to generic competition or a change in Medicare expenditures. In the program's second phase, HHS will select another 15 Medicare Part D drugs to negotiate, with prices taking effect in 2027. In phase four, HHS will negotiate prices for 20 Part B or D drugs, taking effect in 2029.

☆ Stocks making the biggest moves premarket: Oak Street Health, Frontline, Boeing and more
▼ + stars: | 2023-01-10 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington. Oak Street Health – Shares of Oak Street Health surged 36% after a Bloomberg report that CVS is exploring options to buy the health care company for more than $10 billion. Frontline –The shipping stock surged more than 24% in premarket trading after Frontline announced that it was terminating its combination with Euronav. Boeing — The aerospace giant fell more than 2% after Morgan Stanley downgraded Boeing to equal weight from overweight, citing a lack of potential upside from current levels. Meanwhile, the firm upgraded competitor Royal Carribean, which added 0.3% in the premarket, to equal weight from underweight.

☆ Pitch Decks That Advertising Tech Startups Used to Raise Millions
▼ + stars: | 2023-01-10 | by ( Business Insider | ) www.businessinsider.com time to read: +19 min

Check out these pitch decks that they've used to sell their vision and raise millions from private equity and VC investors. Blocking ad fraudAdtech startup Lunio, announced a $15 million Series A funding round in September 2022. In May 2022, the software-as-a-service startup raised a $30 million Series B round, led by Insight Partners. Marketing in the metaverseAnima, an augmented-reality startup, raised a $3 million funding round from investors in Janury. He raised $50 million in Series D after closing a $34 million Series C last year, bringing its total raised to $100 million.

☆ Stocks making the biggest moves midday: Bed Bath & Beyond, Coinbase, Virgin Orbit and more
▼ + stars: | 2023-01-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Discovery — Shares of the media company jumped more than 6% after Bank of America added the stock to the "US1" list. Coinbase — Shares jumped almost 6% after the cryptocurrency exchange shared plans to trim its workforce by 20%. Bed Bath & Beyond — The retailer jumped nearly 19%. Frontline — Shares of the shipping company jumped 26% after Frontline announced that it was terminating a deal to combine with Euronav. Agilent Technologies — Shares rose more than 4% a day after the company announced a $2 billion share repurchase program.

☆ Private equity acquires a taste for drug development
▼ + stars: | 2023-01-09 | by ( David Carnevali | ) www.reuters.com time to read: +6 min

Jan 9 (Reuters) - Private equity firms that deemed drug development too risky for their liking in the past are increasingly investing in the sector, raising dedicated funds and coming up with deals that compensate them for the uncertainty involved. These deals are not structured as the leveraged buyouts that private equity firms are mostly known for. In most cases, the drug makers start paying the money back to the private equity firms when the drug is being developed, either by issuing equity, tapping cash on hand or borrowing. They also share a slice of the newly developed drug's revenue with the private equity firms once it's approved. Private equity firms also provide capital to spin out drugs into new companies.

☆ Biogen's new CEO says Alzheimer's will become a major franchise for the company but that a different drug has the 'biggest undervalued potential'
▼ + stars: | 2023-01-09 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +4 min

But new CEO Christopher Viehbacher said that he sees Alzheimer's becoming a new franchise. He added that zuranolone, an antidepressant, is the "biggest undervalued potential" of the company. On the heels of the approval of a new Alzheimer's drug, Cambridge-based biotech company Biogen seems focused on expanding its focus to a wider range of illnesses. New Alzheimer's drug lecanemab could signal a new franchiseThe first is lecanemab, a drug for Alzheimer's disease that was granted an accelerated approval by the US Food and Drug Administration last week. "I think zuranolone is the biggest undervalued potential of Biogen," Viehbacher said.

☆ Big Pharma drags European shares down; inflation data in focus
▼ + stars: | 2023-01-05 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The market was hoping the minutes could be a "blueprint to a pivot," said Danni Hewson, an analyst at AJ Bell. Healthcare stocks (.SXDP) dragged, with pharma giants like Novartis AG (NOVN.S) and Sanofi (SASY.PA) shedding more than 1% each. Investors await producer price data, due at 1000 GMT, for clues on the impact of the European Central Bank's aggressive tightening to tamp down inflation. Retail stocks were battered last year, posting their worst annual performance since 2008, as rising interest rates and high inflation put pressure on household budgets. Reporting by Bansari Mayur Kamdar in Bengaluru Editing by Vinay Dwivedi and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Upbeat economic data powers European shares to third day of gains
▼ + stars: | 2023-01-04 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) rose 0.8%, while France's CAC 40 (.FCHI) added 1.3%. Data on Wednesday showed euro zone business activity contracted less than initially thought, suggesting the bloc's recession may not be as deep as feared. Further, preliminary data showed inflation in France slipped in December from a record high in the previous month, tracking a slew of encouraging data from improving euro zone manufacturing numbers to a slowdown in Germany's inflation. The STOXX 600 index has risen 3% in the first three trading days of the new year, helped by strong economic data, easing of natural gas futures and hopes of a post-COVID recovery in China despite surging cases. Meanwhile, data showed fresh food prices at British supermarkets in early December were 15.0% higher than a year earlier, weighing on UK sentiment.

The two companies are in arbitration to decide what Sanofi's obligations might be, given Sanofi acquired the marketing rights to Zantac from Boehringer in 2017. A decision was initially expected by the end of 2022. Now, Sanofi sees it some time this year, and at the end of the first quarter at the earliest. Originally marketed by a forerunner of GSK (GSK.L), the medicine has been sold at different times by companies including Pfizer (PFE.N), Boehringer and Sanofi as well as several generic drugmakers. On Wednesday, Sanofi also said it expected fourth-quarter results next month to benefit from a stronger dollar and flu vaccine sales.

In 2022, drugmakers raised prices on more than 1,400 drugs according to data published by 46brooklyn, a drug pricing non-profit that is related to 3 Axis. The median drug price increase was 4.9% last year, while the average increase was 6.4%, according to 46brooklyn. Antonio Ciaccia, president of 3 Axis, said that drugmakers have focused on launching their drugs at higher prices because of the attention paid to annual price increases. More drug prices are likely to be announced over the course of January - historically the biggest month for drugmakers to raise prices. Sanofi plans to raise prices on 14 of its drugs or vaccines.

Amgen gains several approved drugs through the deal, a bulwark against rising competition for its blockbuster arthritis drug, Enbrel, from newer treatments. Sales of Amgen's Enbrel tumbled 14% in the latest reported quarter to $1.1 billion, extending a run of downbeat performances. The Horizon bid follows Amgen's $3.7 billion deal in August for rare blood vessel inflammation treatment maker ChemoCentryx Inc . The offer values Horizon at $27.8 billion on a fully diluted basis, according to the company, which includes ordinary shares to be vested. Based on Reuters calculations, it values Horizon at about $26 billion and gives Horizon a $28.3 billion valuation, including debt.

☆ Amgen to buy Horizon Therapeutics for $26.40 billion
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

Dec 12 (Reuters) - Amgen Inc (AMGN.O) will buy rare disease drugmaker Horizon Therapeutics Plc (HZNP.O) for $26.40 billion, it said on Monday, in its biggest deal ever that gives the biotech company access to blockbuster thyroid eye disease treatment Tepezza. The offer values Horizon at $27.8 billion on a fully diluted basis, according to the company, which includes ordinary shares to be vested. Based on Reuters calculations, it values Horizon at $26.40 billion. The offer values Horizon at $28.3 billion, including debt. The Wall Street Journal on Sunday reported that Amgen was close to acquiring Horizon after the other bidders pulled out of the race.

☆ Amgen set to buy biotech firm Horizon at $26 bln valuation - Bloomberg News
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

Dec 12 (Reuters) - Amgen Inc (AMGN.O) is set to buy biotech firm Horizon Therapeutics Plc (HZNP.O) at a valuation of about $26 billion in what would be its largest acquisition, Bloomberg News reported on Monday. The report comes after French health group Sanofi (SASY.PA) said on Sunday that it no longer intends to make an offer for Horizon. Amgen and Horizon did not immediately respond to Reuters' requests for comments. Janssen also pulled out of the race last week, saying that it does not intend to make an offer for Horizon. The Wall Street Journal first reported on Sunday that Amgen is in advanced talks to buy Horizon.

☆ Morning Bid: Hunkering down
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

Initial market enthusiasm over China's easing of its stringent "zero-COVID" measures has now switched to worries over a wave of infections likely disrupting the economy. European stock markets are set for a weaker start on Monday, dragged by declines in Asian stocks, with the spotlight on a series of central bank meetings even as expectations rise that euro zone inflation is peaking. It's a Super Thursday this week, with the ECB, Bank of England, and the Swiss and Norwegian central banks also expected to jack up borrowing costs. On Sunday, U.S. Treasury Secretary Janet Yellen forecast a substantial reduction in U.S. inflation in 2023, barring an unexpected shock. Whether inflation is responding to the most aggressive Fed hiking cycle since the 1980s will be evident in this week's U.S. consumer price index report.

☆ European shares fall on caution ahead of key rate hike decisions
▼ + stars: | 2022-12-12 | by ( Amruta Khandekar | ) www.reuters.com time to read: +2 min

The continent-wide STOXX 600 index (.STOXX) was down 0.7% at 0857 GMT, deepening losses from earlier in the session. With recent signs of easing inflationary pressures in the euro zone, the European Central Bank is expected to deliver a dialled-down 50 basis points (bps) rate hike on Dec. 15, a day after the Federal Reserve's interest rate announcement. "The markets are still relying on this narrative that inflation will cool, the central banks will be able to slow down, pause interest rate increases," said Russ Mould, investment director at AJ Bell. "But the numbers remain mixed, so it's perhaps not quite as clear cut as the markets would like it to be." Sanofi SA (SASY.PA) rose 0.7% after the French drugmaker on Sunday said it pulled out of talks to buy Horizon Therapeutics (HZNP.O).

☆ Amgen emerges frontrunner in Horizon deal as Sanofi drops bid
▼ + stars: | 2022-12-11 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

Slideshow ( 2 images )(Reuters) -Amgen Inc is in advanced talks to buy biotech company Horizon Therapeutics Plc, the Wall Street Journal reported on Sunday, while rival bidder French health group Sanofi announced it had dropped its bid. A deal for Amgen to buy the company could be finalised by Monday assuming the talks don’t fall apart, the Journal report added. Amgen and Horizon did not immediately respond to Reuters requests for comments. Sanofi said on Sunday that it was no longer in discussions with Horizon and does not intend to make an offer for it. Janssen also pulled out of the race last week saying that it does not intend to make an offer for Horizon.

☆ Sanofi Says it does not intend to make an offer for horizon, leaving Amgen as sole bidder
▼ + stars: | 2022-12-11 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: Sanofi's logo at the company's headquarters in Paris, France, February 4, 2022. REUTERS/Benoit Tessier(Reuters) -French health group Sanofi said on Sunday that it no longer intends to make an offer for biotech company Horizon Therapeutics Plc HZNP.O, leaving Amgen Inc as the only remaining bidder. The Wall Street Journal reported on Sunday that Amgen was in advanced talks to buy Horizon. A deal could be finalised by Monday assuming the talks with Amgen don’t fall apart, the report added.

Amgen Inc. is in advanced talks to buy drug company Horizon Therapeutics PLC, according to people familiar with the matter, in a takeover likely to be valued at well over $20 billion and mark the largest healthcare merger of the year. The U.S. biotechnology company was the last of three suitors standing in an auction for Horizon, the people said, after French drugmaker Sanofi SA said Sunday it was out of the running.

[1/2] A woman holds a small bottle labelled with a "Coronavirus COVID-19 Vaccine" sticker and a medical syringe in this illustration taken October 30, 2020. REUTERS/Dado RuvicPARIS, Dec 8 (Reuters) - France's Haute Autorite de Sante public health body advised the government not to use Valneva's (VLS.PA) VLA2001 COVID-19 vaccine as part of its wider vaccination strategy, although two rival products should be included as booster shots. The snub caused Valneva's shares to fall, with Valneva down by around 1% during the late morning trading session in Paris. "However, the HAS does not include the use of Valneva's VLA2001 vaccine in the current primary vaccination strategy", it added. Reporting by Jean-Stephane Brosse and Tassilo Hummel; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ GSK, Sanofi shares brighten as thousands of Zantac lawsuits are dismissed
▼ + stars: | 2022-12-07 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

LONDON/PARIS (Reuters) - Shares of GSK and Sanofi surged in early trading on Wednesday, following the dismissal of thousands of U.S. lawsuits claiming that the heartburn drug Zantac caused cancer. Zantac, first approved in 1983, became the world’s best selling medicine in 1988 and one of the first-ever drugs to top $1 billion in annual sales. The decision bodes well for state cases too, they wrote in a note. Shares of Haleon, which comprises consumer health assets once owned by GSK and Pfizer and spun out as an independent company in July, also rose 5%. Barclays analysts said they viewed Zantac as substantially derisked, “leaving Haleon investible again for those without the appetite for pharma litigation risk.”

☆ GSK, Sanofi Shares Jump After U.S. Judge Dismisses Zantac Lawsuit
▼ + stars: | 2022-12-07 | by ( Cecilia Butini | ) www.wsj.com time to read: 1 min

Both Sanofi and GSK recalled Zantac in 2019 after the U.S. Food and Drug Administration said it had found a contaminant in the drug. Shares in pharmaceutical companies GSK PLC and Sanofi SA traded higher after a U.S. judge dismissed a series of lawsuits around a heartburn treatment that both companies had marketed. The lawsuits, which numbered in the tens of thousands, alleged that the drug, called Zantac, could cause cancer. The judge concluded on Tuesday that there was no scientific evidence to support the claim that Zantac’s active substance, called ranitidine, was carcinogenic.

☆ Big Pharma’s heartburn win is a valuation salve
▼ + stars: | 2022-12-07 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

The equity value of GSK (GSK.L), Sanofi (SASY.PA) and Haleon (HLN.L) crashed in August, after analysts warned of a massive thwack linked to claims that heartburn medication Zantac caused cancer. On Tuesday, a Florida judge broadly agreed and threw out roughly 50,000 claims in federal court. Morgan Stanley analysts had estimated the overall Zantac litigation hit could have been as high as $45 billion. The Zantac judge has just proved that courts can be a help as well as a hindrance. Shares in GSK were up 9% to 15.08 pounds as of 0958 GMT on Dec. 7, while Sanofi rose 5% to 90.03 euros.

Dec 6 (Reuters) - Drugmakers GSK Plc (GSK.L), Pfizer Inc (PFE.N), Sanofi SA (SASY.PA) and Boehringer Ingelheim on Tuesday were spared thousands of U.S. lawsuits claiming that the heartburn drug Zantac caused cancer, as a judge found the claims were not backed by sound science. A spokesperson for GSK said the company welcomed the decision and Pfizer said it was pleased by the outcome. Originally marketed by a forerunner of GSK, it was later sold successively to Pfizer, Boehringer Ingelheim and finally Sanofi. Lawsuits began piling up soon after the recalls began from people who said they developed cancer after taking Zantac. State court judges will also have to rule on whether to allow plaintiffs' experts on Zantac's alleged cancer risks before state cases can go to trial.

Dec 6 (Reuters) - Drugmakers GSK Plc (GSK.L), Pfizer Inc (PFE.N), Sanofi SA (SASY.PA) and Boehringer Ingelheim on Tuesday defeated thousands of lawsuits in U.S. federal court claiming that the heartburn drug Zantac caused cancer, as a judge found the claims were not backed by sound science. Zantac, first approved in 1983, became the world's best selling medicine in 1988 and one of the first-ever drugs to top $1 billion in annual sales. Originally marketed by a forerunner of GSK, it was later sold successively to Pfizer, Boehringer Ingelheim and finally Sanofi. Numerous generic drugmakers also launched versions of the medicine, but are not part of the federal mass tort litigation. Reporting by Brendan Pierson in New York; editing by Jonathan Oatis and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Three pharmaceutical stocks were last week's top performers — and analysts gave one 40% upside
▼ + stars: | 2022-12-05 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Global stocks rose last week, tracking U.S. stocks as Wall Street's major indexes closed with weekly gains. The MSCI World index was up about 1% over the week, and all three U.S. indexes also set weekly gains , with the Nasdaq posting the largest increase. Pharmaceutical stocks had a good week, with three — Horizon Therapeutics , Catalent and Alnylam Pharmaceuticals — making big gains. Of all three, Catalent got the highest upside (40%) from analysts — getting a buy rating from 56% of those covering the stock. U.S. media and internet company IAC was one top weekly performer, with the highest upside given by analysts — at 60%.

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