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☆ J&J unit says does not intend to bid for Horizon Therapeutics
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: 1 min

Dec 3 (Reuters) - Johnson & Johnson (JNJ.N) unit Janssen Global Services said on Saturday that it does not intend to make an offer for biotech company Horizon Therapeutics Plc (HZNP.O). Last month, Horizon Therapeutics - which has a market capitalization of about $18 billion - said it was in talks with Amgen Inc (AMGN.O), Sanofi (SASY.PA) and Janssen Global Services, all three of which have been active in deal-making this year. It expects over $4 billion in global annual peak sales for its biggest drug Tepezza, which is used to treat thyroid eye disease. French drugmaker Sanofi (SASY.PA) said on Friday that if it decides to bid for Horizon, it would do so in cash. Reporting by Mrinmay Dey in Bengaluru, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves midday: Zscaler, Marvell Technology, DoorDash and more
▼ + stars: | 2022-12-02 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Zscaler – The cloud security company's shares dipped 11% following its quarterly earnings report, despite Zscaler posting strong results. Marvell Technology – The semiconductor stock fell 4% after the company reported weaker-than-anticipated earnings and revenue for the most recent quarter. DoorDash – Shares of the food delivery service operator fell more than 2% following a downgrade from RBC Capital Markets. Enphase Energy – Shares of energy name Enphase surged 6% Friday and hit a 52-week high after the company announced it launched a group of microinverters in Europe. Chinese stocks – Shares of Chinese retail stocks Baidu gained 5% while JD.com and Pinduoduo rose 6.4% and 4.6% respectively as signals of easing Covid restrictions in China calmed investors.

☆ Sanofi says any offer for Horizon Therapeutics, if made, will be in cash
▼ + stars: | 2022-12-02 | by ( Dominique Vidalon | ) www.reuters.com time to read: +1 min

PARIS, Dec 2 (Reuters) - French drugmaker Sanofi (SASY.PA) said on Friday that if it decides to bid for biotech company Horizon Therapeutics Plc (HZNP.O), it would do so in cash. Horizon Therapeutics Plc, which has a market capitalization of about $18 billion, is in talks with Amgen Inc (AMGN.O), Sanofi (SASY.PA) and Johnson & Johnson (JNJ.N) unit Janssen Global Services over potential takeover offers. "Any offer for Horizon Therapeutics Plc (HZNP.O), if made, would be in cash, as required by Rule 2.12 of the Takeover Rules," Sanofi said in a statement. "There is no certainty that any offer will be made, nor as to terms on which any such offer may be made, if forthcoming," it added. Horizon, which makes drugs for rare, autoimmune and severe inflammatory diseases, has said there is no certainty that it will receive a takeover offer.

☆ Stocks making the biggest moves premarket: Marvell Technology, Horizon Therapeutics, DoorDash and more
▼ + stars: | 2022-12-02 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Zscaler (ZS) – The cloud security company reported a better than expected quarter, but its stock slumped 9.1% in premarket trading following conservative guidance. Horizon shares had soared 27.3% last Friday on news that it was in talks with several potential takeover partners. DoorDash (DASH) – DoorDash shares fell 2.8% in premarket trading after RBC Capital Markets downgraded the stock to "sector perform" from "outperform." Rigel Pharma (RIGL) – Rigel's stock soared 34% in the premarket after the FDA approved its drug to treat a certain type of leukemia. PagerDuty (PD) – The cloud computing company's stock jumped 6.6% in premarket trading after it reported an unexpected quarterly profit.

☆ Stocks making the biggest moves premarket: Hormel, Petco, CrowdStrike and more
▼ + stars: | 2022-11-30 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Earnings beat estimates, but sales came up short of Wall Street forecasts. Petco (WOOF) – Petco's adjusted quarterly earnings of 16 cents per share matched Street forecasts, but revenue was slightly above estimates. CrowdStrike (CRWD) – CrowdStrike plunged 17.6% in the premarket after the cybersecurity company's subscription numbers came in below analyst forecasts. NetApp (NTAP) – NetApp tumbled 10.9% in the premarket on a weaker than expected forecast from the cloud computing company, which reported better than expected quarterly earnings. Hewlett Packard Enterprise (HPE) – Hewlett Packard Enterprise added 1.9% in the premarket after the enterprise computing company reported record quarterly sales and issued strong revenue guidance.

☆ Stocks making the biggest moves midday: CrowdStrike, Horizon Therapeutics, Petco and more
▼ + stars: | 2022-11-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Otherwise, CrowdStrike beat estimates on the top and bottom lines in its most recent quarterly results. Petco — Shares of Petco jumped 12% after reporting third-quarter revenue that was slightly above Wall Street estimates. Workday — Shares of Workday jumped 12% after the company posted earnings results Tuesday that beat Wall Street expectations. Though earnings beat Wall Street estimates, revenue came up short. Biogen — Shares rose more than 3% after a new study on Biogen and Eisai's experimental Alzheimer's drug showed promising results.

☆ Horizon Therapeutics in preliminary sale talks with Amgen, Sanofi, J&J
▼ + stars: | 2022-11-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHorizon Therapeutics in preliminary sale talks with Amgen, Sanofi, J&JCNBC's Jim Cramer and the 'Squawk on the Street' team discuss a new report that Horizon Therapeutics is in preliminary talks with major pharmaceutical companies over a potential takeover.

☆ Horizon Therapeutics fields buyout interest from Amgen, J&J and Sanofi
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

The biotech company, with a market capitalization of about $18 billion, is in talks with Amgen Inc (AMGN.O), Sanofi (SASY.PA) and Johnson & Johnson (JNJ.N) unit Janssen Global Services. Amgen acquired ChemoCentryx in a $4 billion deal in October, while J&J earlier this month announced a $16.6 billion bid for Abiomed (ABMD.O). Sanofi earlier this year completed the buyout of immuno-oncology company Amunix Pharmaceuticals for around $1 billion. Amgen declined to comment on the talks, while Sanofi and Janssen Global were not immediately available. Horizon expects over $4 billion in global annual peak sales for its biggest drug Tepezza, which is used to treat thyroid eye disease.

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The Food and Drug Administration on Thursday approved the first drug to delay the onset of Type 1 diabetes. It’s been approved for people ages 8 and older who have early signs of Type 1 diabetes. Nearly 2 million people in the United States have Type 1 diabetes, according to the American Diabetes Association. People with Type 1 diabetes usually need multiple injections of insulin every day for the rest of their lives, often a great financial burden. The most common side effects of the medication include decreased levels of certain white blood cells, rash and headache, according to the FDA.

☆ Provention Bio diabetes drug to cost $13,850/vial
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

Nov 18 (Reuters) - Provention Bio Inc (PRVB.O) said on Friday its recently approved diabetes drug, teplizumab, would cost $13,850 a vial. A 14-day regimen of the drug would translate to a price of $193,900, the company said on a conference call. In October, Provention signed a co-promotion deal for the drug with Sanofi (SASY.PA), offering the French drugmaker first negotiation for exclusive global rights to commercialize the drug in exchange for an upfront payment of $20 million. As per the deal, the approval also allows Sanofi to purchase up to $35 million of Provention's common shares. Shares of New Jersey-based Provention Bio were down nearly 8% before the bell.

☆ U.S. FDA greenlights Provention Bio's diabetes drug
▼ + stars: | 2022-11-17 | by ( Bhanvi Satija | ) www.reuters.com time to read: +2 min

Nov 17 (Reuters) - Provention Bio (PRVB.O) said on Thursday the U.S. Food and Drug Administration had approved the use of its drug teplizumab in those aged eight years and older, the first treatment aimed at delaying the onset of insulin-dependent type 1 diabetes. In October, Provention signed a co-promotion deal for the drug with Sanofi (SASY.PA), offering the French drugmaker first negotiation for exclusive global rights to commercialize the drug in exchange for an upfront payment of $20 million. As per the deal, the approval will also allow Sanofi to purchase up to $35 million of Provention's common stock. Current standard of care for type 1 diabetes requires patients to monitor and manage symptoms such as low or high blood sugar levels through regular insulin intake. Type 1 diabetes, previously known as juvenile diabetes, is a disease in which the immune system attacks and destroys the insulin-producing beta cells in the pancreas, leaving sufferers reliant on regular insulin injections.

CNN —A biologic therapy that delays the onset of type 1 diabetes received approval from the US Food and Drug Administration on Thursday. The most common side effects reported in the trial participants were low white blood cells and lymph cells, rash and headache. Without insulin, blood sugar can build up in the bloodstream and break down the body’s own fat and muscle. With Tzield, doctors would screen individual family members of people with type 1 diabetes to see whether they have those specific antibodies. As of 2019, about 1.9 million people have type 1 diabetes in the United States, according to the American Diabetes Association, including 244,000 children and adolescents.

☆ Sanofi, GSK score late win with EU COVID booster approval
▼ + stars: | 2022-11-10 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

The shot is based on lab-made viral proteins provided by Sanofi and an adjuvant ingredient from GSK that increases the immune response. Adapting the older protein technology chosen by Sanofi and GSK to a new virus variant requires several months longer than under the mRNA approach, which saw a breakthrough during the pandemic. Work on the shot by Sanofi and GSK, two of the world's largest vaccine makers by sales, was delayed repeatedly. The partners later pivoted to targeting the Beta variant, requiring months in additional development time. While the shot tested at the time was bivalent - meaning it was based both on original Wuhan strain of the virus and Beta - Sanofi and GSK later focused on a monovalent shot based on Beta only.

☆ Nearly 2% of healthy infants hospitalized with RSV before first birthday, study finds
▼ + stars: | 2022-11-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Even healthy infants face a considerable risk of hospitalization from respiratory syncytial virus, according to a large European study published Thursday. Dutch and British scientists, in a study published in Lancet Respiratory Medicine, found that 1.8% of healthy infants are hospitalized with RSV before their first birthday. This means about 1 in 56 healthy infants are hospitalized with the virus annually. The scientists found that a majority of the infants hospitalized with RSV were younger than 3 months. About 1 in 18 infants hospitalized with RSV required treatment in the intensive care unit.

☆ Biogen hires former Sanofi head Viehbacher as CEO
▼ + stars: | 2022-11-10 | by ( Manas Mishra | ) www.reuters.com time to read: +2 min

The appointment of Viehbacher, who founded private equity firm Gurnet Point Capital after being ousted from French drugmaker Sanofi (SASY.PA) in 2014, concludes a months-long search for a successor to Michel Vounatsos. "The selection of a new CEO has been front-of-mind for Biogen investors since Mr. Vounatsos' announced departure," said Wedbush analyst Laura Chico. Investors and analysts are now pinning their hopes on the second Alzheimer's drug Biogen is developing with Japan's Eisai Co Ltd (4523.T) after it slowed the progress of the memory-robbing disease by 27% in a trial. Viehbacher served as chief executive of Sanofi for six years and was instrumental in the company's $20 billion deal for Genzyme in 2011. Viehbacher will step into his role on Nov. 14, Biogen said.

The justices took up Amgen's appeal of the lower court ruling that threw out the Repatha patents. Amgen and other drugmakers have called the case a test of their ability to earn and defend patents for important drugs. Amgen first sued Regeneron and Sanofi in 2014 over their rival drug Praluent, which works by a similar mechanism as Repatha. Thousand Oaks, California-based Amgen sold more than $1.1 billion worth of Repatha worldwide last year. Regeneron sold $170 million worth of Praluent in the United States last year, and Sanofi sold over $200 million worth in the rest of the world.

☆ U.S. flu hospitalizations highest in 10 years, officials say
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +1 min

The rising flu cases come alongside pressure on hospitals from respiratory syncytial virus (RSV) and COVID cases, officials said, urging people to get vaccinated and offering to assist states that may need additional support. There have been 5 million fewer doses of influenza vaccine administered to U.S. adults so far this year compared to this time last year, officials said. Flu vaccine uptake is about the same for children this year but overall is down 6% compared to before the COVID pandemic began in 2020. About 5% fewer pregnant people have received flu shots so far this season, which officials say is especially worrisome because the vaccine protects both the expecting mother and her baby, officials added. U.S. flu shots are made by Sanofi SA (SASY.PA), GSK (GSK.L) and Seqirus, a unit of CSL Ltd (CSL.AX)Reporting by Julie Steenhuysen and Susan Heavey; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ GSK lifts earnings view again after forecast-beating quarter
▼ + stars: | 2022-11-02 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

[1/2] GSK (GlaxoSmithKline) logo is seen in this illustration, August 10, 2022. Shingrix generated sales of 760 million pounds ($873 million) compared with the GSK-compiled analyst consensus forecast for 685 million pounds. In July, GSK had predicted 2022 sales growth of 6% to 8% and adjusted operating profit to climb by 13% to 15%, both increases on forecasts issued in February. GSK said it had incurred a charge of 45 million pounds in the third quarter, primarily reflecting provisions for increased legal fees related to heartburn drug Zantac. Originally marketed by a forerunner of GSK, Zantac has been sold by several companies at different times, including Pfizer (PFE.N), Boehringer Ingelheim and Sanofi (SASY.PA) as well as a plethora of generic drugmakers.

☆ New GSK shines brighter with another forecast upgrade
▼ + stars: | 2022-11-02 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

Shingrix generated quarterly sales of 760 million pounds ($873 million), compared with the GSK-compiled analyst consensus forecast for 685 million pounds. GSK shares hit a 2-1/2 month high of 1,470.2 pence in early trade and were last up 1% at 1,461.3 pence. GSK said it had incurred a charge of 45 million pounds in the third quarter, primarily reflecting provisions for increased legal fees related Zantac. Originally marketed by a forerunner of GSK, Zantac has been sold by companies including Pfizer (PFE.N), Boehringer Ingelheim and Sanofi (SASY.PA), as well as many generic drugmakers. GSK reported a third-quarter adjusted profit of 46.9 pence per share on sales of about 7.83 billion pounds, topping analysts' forecasts for 40.1 pence and 7.32 billion pounds.

☆ Stocks making the biggest moves premarket: Exxon Mobil, Chevron, Amazon and others
▼ + stars: | 2022-10-28 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:Exxon Mobil (XOM) – Exxon Mobil added 2.2% in premarket trading after record profits exceeded analyst forecasts. Chevron (CVX) – Chevron rose 1.7% in premarket action after top and bottom line beats for its latest quarter. Amazon (AMZN) – Amazon slumped 12.3% in the premarket after projecting much weaker-than-expected revenue for the current quarter. The chip maker beat top and bottom line estimates for its latest quarter and said it will focus on cost reductions over the next year. Deckers Outdoor (DECK) – The footwear and apparel maker reported a quarterly profit of $3.80 per share, 12 cents above estimates.

☆ Morning Bid: Closer to fine
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom Westbrook. Having jumped the gun a few times, markets are again pricing in a pivot in monetary policy and might be getting closer to the mark. Bonds are rejoicing at this week's step-down in hiking speed at the Bank of Canada and hints the European Central Bank is getting closer to satisfied with its progress. Ten-year Italian BTPs are eyeing their best week in a decade, with yields down 73 basis points since last Friday's close. Markets now price a peak in the Fed funds rate around 4.8%, after flirting with 5% a week ago.

☆ Explainer: COVID, flu and RSV this U.S. winter: Why experts are worried
▼ + stars: | 2022-10-26 | by ( Nancy Lapid | ) www.reuters.com time to read: +3 min

REUTERS/Carlo Allegri/File PhotoOct 26 (Reuters) - U.S. doctors are warning that a surge in cases of respiratory syncytial virus (RSV) is coinciding with an increase in COVID transmission and an earlier-than-normal flu season, raising the specter of a "tripledemic" of respiratory illness this winter. In particular, RSV infections among young children are reportedly filling some U.S. hospitals to capacity. Older children and most adults typically experience mild, cold-like symptoms. In the meantime, it is important "for everyone to get up to date on their COVID and flu vaccines," Varma said. Part of the increase in RSV cases is due to the relaxation of COVID-precautions, such as masking and social distancing, which reduced rates of both RSV and flu during the pandemic, Varma said.

The cost of insulin remains a barrier for many Americans with diabetes who depend on the drug, research published Monday suggests. It was the first time that the CDC had included questions about insulin use, though concerns about sky-high insulin prices have been reported for years. Meanwhile, those with public health coverage, such as Medicaid and Medicare, had the lowest rates of rationing. According to the American Diabetes Association, people with type 1 diabetes need, on average, two to three vials per month. He said the "most ambitious" proposal he would like to see in the U.S. is universal health coverage with no copays for consumers.

☆ How Palantir's tech-based patriotism and politics grew into a multi-billion dollar company
▼ + stars: | 2022-10-13 | by ( Cameron Costa | ) www.cnbc.com time to read: +4 min

The data mining and software company got its start with government contracts, and 19 years since its inception, Palantir's government work is still central to its business. At its start, Palantir's business came directly from the FBI, the NSA, and even the CIA, whose venture arm In-Q-Tel was one of the company's earliest backers. For Karp, data and defense are intertwined, and his company's contracts with government agencies reflect a commitment to leveraging technology to bolster the West. Karp founded the company with well-known conservative tech investor Peter Thiel, and the two have publicly sparred over politics and technology. However, even as a $16.7 billion market cap publicly traded company, Palantir's work remains opaque.

☆ Microsoft cloud leader Scott Guthrie says companies aren't holding off on cloud spending as inflation mounts
▼ + stars: | 2022-10-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Scott Guthrie, executive vice president of cloud and enterprise at Microsoft Corp., speaks during the Microsoft Developers Build Conference in Seattle, Washington, U.S., on Monday, May 7, 2018. But Guthrie said that doesn't seem to be the case with Azure, Microsoft's cloud infrastructure service. "I've not seen the current situation cause people to pause cloud," said Guthrie, executive vice president of Microsoft's cloud and artificial-intelligence group, in an interview with CNBC. Guthrie said he hasn't heard companies saying they would slow their use of cloud computing because of the higher energy costs. That's been a discussion topic among executives at Paris-based health care company Sanofi , which uses cloud services from Amazon , Google and Microsoft.

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