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☆ AbbVie to buy cancer drugmaker ImmunoGen for $10 billion as Humira faces heat
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

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

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

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☆ Cancer drugmakers rise as industry meet fuels investor interest
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

June 5 (Reuters) - Shares of several cancer drug firms surged on Monday after the companies reported positive clinical trial data from their therapies at an ongoing industry conference in Chicago. ImmunoGen Inc's experimental drug, Elahere, to treat a type of ovarian cancer showed 35% reduction in the risk of tumor progression or death compared to chemotherapy in a late-stage study. Shares of Evaxion rose 5.4% to $1.55 after the smaller drug developer said its vaccine to prevent a type of skin cancer met safety goals in an early-stage study. Shares of Blueprint Medicines Corp (BPMC.O) fell 9.4% to $52.76 after analysts flagged potential safety issues about its experimental drug to treat a type of lung cancer. Reporting by Manas Mishra and Mariam Sunny in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: William Blair, Manas Mishra, Mariam Sunny, Shailesh Organizations: Immunogen Inc, Evaxion, Therapeutics, American Society of Clinical Oncology, Arcus, Medicines Corp, Thomson Locations: Chicago, Bengaluru

☆ ASCO conference will put the focus on the fight against cancer. These stocks are in the spotlight
▼ + stars: | 2023-05-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

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 .

☆ Stocks making the biggest moves premarket: Tesla, Cal-Maine, Southwest and others
▼ + stars: | 2022-12-29 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Cal-Maine Foods (CALM) – Cal-Maine slid 4.9% in premarket trading after its quarterly earnings came in below Wall Street forecasts. General Electric (GE) – GE spin-off GE HealthCare Technologies will join the S&P 500 when it begins trading as a separate public company on Jan. 4. Vornado will replace logistics company RXO (RXO), which will move to the S&P SmallCap 600. GE HealthCare — trading on a when-issued basis — rose 1% in the premarket, while Vornado was marginally lower and RXO jumped 3.3%. Apple (AAPL) – Apple is up 1% in premarket trading after closing Wednesday at a 1-1/2 year low.

☆ Immunogen's $6,220 ovarian cancer drug to be shipped within days
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

Nov 15 (Reuters) - Drugmaker Immunogen (IMGN.O) said on Tuesday it will sell its newly approved ovarian cancer drug at a list price of $6,220 per vial and start shipping it "in a matter of days". Most patients will receive three to four vials per treatment cycle, putting the cost at about $18,500 to $25,000 a cycle, said Immunogen Chief Executive Mark Enyedy on a conference call. Late on Monday, Immunogen said the U.S. Food and Drug Administration had approved its drug, mirvetuximab soravtansine, for treatment of platinum-resistant ovarian cancer in adults. Shares of the Massachusetts-based company rose nearly 8% to $6.20 before the bell. Reporting by Bhanvi Satija in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

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