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☆ 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.

☆ Much of biopharma industry yet to set any climate impact targets - report
▼ + stars: | 2022-11-09 | by ( Natalie Grover | ) www.reuters.com time to read: +4 min

The report, authored by My Green Lab in collaboration with with Urgentem, an independent provider of emissions data, examined direct and indirect carbon emissions created by hundreds of companies in the biopharma industry from publicly available and inferred data. Reporting of scope 3 emissions remains imperfect, there is no standardisation on how this data is gathered and measured, said Connelly. "So some companies do have significantly higher carbon emissions for scope 3, while others are significantly lower, or it may just be that they are reporting quite differently from their peers." Executives from companies big and small told Reuters they were optimistic about strides being made towards cutting carbon output in the industry. The report was supported by the United Nation's High Level Climate Champions team.

☆ We're increasing price targets on 3 of our stocks, including 2 crushing the boarder market
▼ + stars: | 2022-11-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Following our price target changes on eight Club holdings last month, we're updating three more Tuesday to reflect their recent quarterly earnings reports and outlooks. It's also worth noting that we have not adjusted our Lilly price target since competitor Biogen (BIIB) reported positive topline results from a study to treat early Alzheimer's. Halliburton (HAL): Club price target increasing to $44 per share from $40 This update comes about two weeks after the oilfield services provider reported a stronger-than-expected third quarter . THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

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.

☆ Eli Lilly's guidance cut is about the strong dollar, not weakening fundamentals, CEO says
▼ + stars: | 2022-11-01 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

Eli Lilly — which generates about 40% of its sales overseas — largely attributed the guidance cut to the strong U.S. dollar. With three quarters already reported, Eli Lilly now expects full-year sales to range between $28.5 billion to $29 billion and adjusted per-share earnings between $7.70 to $7.85. New diabetes drug off to great start One of our biggest reasons for liking Eli Lilly is the company's new type 2 diabetes drug that's also shown promise as an obesity treatment . The drug is similar to one that Eli Lilly is working to treat the most common form of dementia. David Ricks, CEO, Eli Lilly Scott Mlyn | CNBC

☆ Goldman upgrades Biogen, says it’s poised to address early Alzheimer’s market next year
▼ + stars: | 2022-10-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Biogen shares have a lot more potential upside for investors thanks to positive new data around the company's early Alzheimer's drug, Goldman Sachs said Wednesday. The upgrade followed the company's earnings call, which had a big focus on the drug, lecanemab, an anti-amyloid antibody that is in phase 3 trials. Goldman also raised its revenue estimates for the drug to $14 billion in 2035, compared with prior estimates of $2 billion. "The company is now poised to address the early Alzheimer's disease market in 2023+ following the recent topline lecanemab Ph3 (CLARITY-AD) data," Goldman analyst Salveen Richter said in a note. "With BIIB shares now trading at ~$270 post the topline CLARITY-AD data, there is roughly ~$80/share reflected in the stock for Alzhiemer's disease," Richter said.

Oct 25 (Reuters) - Biogen Inc (BIIB.O) on Tuesday said the Alzheimer's disease drug it is developing with Japan's Eisai Co Ltd (4523.T) would be used by doctors in a competitive market as investors wait for data from rival therapies made by Eli Lilly and Co (LLY.N) and Roche (ROG.S). The drug, lecanemab was shown to slow the progress of the disease by 27% in a trial last month, and additional data is expected next month. "The data needs to be seen from the other anti-amyloid therapies before we decide what is going to be meaningful," said Biogen interim research chief Priya Singhal. Its costs were about halved as the company significantly cut back on commercial infrastructure around the launch of Aduhelm, its previous Alzheimer's drug that has sputtered amid controversy over efficacy and lack of coverage by health insurers. read moreInvestors have been pinning hopes on the Alzheimer's drug as cheaper generics of Biogen's multiple sclerosis treatment Tecfidera have entered the market, hurting sales.

Earnings reports from companies including Microsoft (MSFT.O) and Google-owner Alphabet (GOOGL.O) will offer further clues on the strength of corporate America amid higher Treasury yields and an aggressive Federal Reserve tightening cycle. Shares of the two companies, which report after market close, were up about 0.2% each in premarket trading. Register now for FREE unlimited access to Reuters.com Register"There is a positive view (on technology earnings)," said Giuseppe Sette, president of AI investment platform Toggle. Leading premarket gains among Dow components, Coca-Cola Co (KO.N) rose 2.4% after the company raised its annual revenue and profit forecasts, banking on steady demand amid price increases. 3M (MMM.N), on the other hand, fell 2.8% as it cut its full-year revenue and profit forecasts due to a stronger dollar.

☆ Biogen raises full-year profit forecast on cost control
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - Biogen Inc (BIIB.O) on Tuesday raised its full-year profit forecast for the second straight quarter, driven by its efforts to cut costs, while investors awaited more data on its new Alzheimer's disease drug next month. The focus of investors as well as Wall Street is squarely on Biogen and Eisai Co Ltd's (4523.T) new drug lecanemab that slowed the progress of the disease by 27% in a trial last month. read moreThe company raised its full-year adjusted earnings per share forecast to between $16.50 and $17.15 from $15.25 to $16.75 previously. Investors have been pinning hopes on the new Alzheimer's disease drug as Biogen faces multiple setbacks including competition for blockbuster drug Tecfidera and a failed launch of Aduhelm, its earlier Alzheimer's drug. Register now for FREE unlimited access to Reuters.com RegisterReporting by Manas Mishra and Bhanvi Satija in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Biogen sales fall 9.7% on Tecifdera competition
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: 1 min

Oct 25 (Reuters) - Biogen Inc (BIIB.O) reported a 9.7% drop in quarterly sales on Tuesday due to rising competition for its blockbuster multiple sclerosis drug Tecfidera, while investors awaited more data on its new Alzheimer's disease drug next month. The focus of investors as well as Wall Street is squarely on Biogen and Eisai Co Ltd's (4523.T) new drug lecanemab that slowed progress of the disease by 27% in a trial last month. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Manas Mishra and Bhanvi Satija in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Earnings are off to a surprisingly decent start. Next week is the big test for tech
▼ + stars: | 2022-10-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

Stocks rallied this week as earnings season ramped up and is so far off to a better-than-expected start. With 20% of the S & P 500 having reported financials so far, sales results have thus far been 1.4% above expectations while earnings results are 5.4% above expectations, in aggregate. That inverse correlation between bond yields and stocks was powerful enough to trump positive earnings reports. Looking back On the earnings front, we got results from Johnson & Johnson (JNJ), Procter & Gamble (PG), and Danaher (DHR). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Roche sales decline more than expected as COVID products slide
▼ + stars: | 2022-10-18 | by ( Ludwig Burger | Nancy Lapid | ) www.reuters.com time to read: +2 min

Third-quarter revenue slipped to 14.74 billion Swiss francs ($14.84 billion), below market expectations of about 15.5 billion francs. Its bestseller Ocrevus gained 16% in sales to 1.52 billion francs during the quarter, while Hemlibra jumped 23% to 952 million francs, both excluding the effect of currency swings. However, analysts at brokerage Jefferies said sales gains in Hemlibra and cancer immunotherapy Tecentriq fell short of market expectations. It also reiterated that the percentage gain in core earnings per share would be in the "low- to mid-single digit" range. Roche repeated that keenly awaited trial data on experimental Alzheimer's drug gantenerumab was due to be published at the end of November.

☆ A portfolio manager beating 99% of his peers this year breaks down why the market has another 15% to 20% of downside ahead — and shares the biggest mistake investors could make once the Fed begins to
▼ + stars: | 2022-10-17 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Drawing from the dot-com crash, he believes the current bear market still has 15%-20% more downside. Abate also shared the biggest mistake investors could make once the Fed begins to ease once more. Today's bear market mirrors the dot-com crashPart of Abate's investment process involves drawing parallels between the current market and historical recessions. "I still think that we are in the midst of a bear market. Similarly, both bear markets were also kicked off by an "excessive period of poor allocation of investment capital," Abate said.

☆ 9 Stock Picks, Investing Strategy From Top 1% Fund Manager in 2022
▼ + stars: | 2022-10-14 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

James Abate's fund has beaten 99% of its peers this year and over one, three, and five years. Here are his 9 standout stock picks which he says have enough pricing power to beat the bear market. He compared this dogmatic style of investing — purposely ignoring opportunities in the market — to horses running around a track with blinders on. Within energy, Abate specifically likes more gas-related names versus oil-related ones, with two standouts including Exxon Mobil (XOM) and EQT (EQT). Below is the full list of Abate's nine standout stocks along with the ticker, market capitalization, and sector for each.

☆ Here are Thursday's biggest analyst calls of the day: Apple, Meta, Biogen, Amazon, Netflix & more
▼ + stars: | 2022-10-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS reiterates Apple as buy UBS said Apple's iPhone Pro and Pro Max demand remains "solid." Bank of America names Northrop Grumman and Rocket Lab top picks Bank of America said it likes Northrop's defensiveness. Bank of America reiterates Microsoft as buy Bank of America said it still sees a solid risk/reward outlook for Microsoft. Cowen reiterates Amazon as outperform Cowen said that its recent survey shows Amazon is still the preferred place for shopping. Stifel upgrades Biogen to buy from hold Stifel said in its upgrade of Biogen that concerns about the company's Alzheimer's drug, lecanemab, are overdone.

☆ Jim Cramer goes over the best and worst Q3 performers in the S&P 500
▼ + stars: | 2022-10-11 | by ( Krystal Hur | ) www.cnbc.com time to read: +2 min

In this article CEGENPHETSYNFLXBIIBVFCCTLTLUMNFDX Follow your favorite stocks CREATE FREE ACCOUNTwatch nowCNBC's Jim Cramer on Tuesday gave his take on the winning and losing stocks in the S&P 500 during the third quarter. WinnersZoom In Icon Arrows pointing outwardsConstellation Energy Cramer said that the company is "perfectly crafted" for the ESG movement. Netflix The company's stock should be able to continue gaining if Netflix doesn't botch the launch of its ad-supported tier, he predicted. Biogen Cramer said he has faith in the company's Alzheimer's drug, though he believes Eli Lilly's will be better. VF Corp Cramer said he has no faith in the apparel stock's ability to rally in the current inflationary environment.

The move lifted British bond prices and pushed global benchmark yields lower. read moreMuch to the market's relief, Fed Chair Jerome Powell did not comment on monetary policy or the U.S. economic outlook on Wednesday. Among the 11 S&P 500 sector indexes, technology (.SPLRCT) was the sole decliner, down 0.5% due to Apple's drag. read moreEli Lilly & Co , which is also developing an Alzheimer's drug, rose 8.17% and was among the biggest boosts to the S&P 500 index. The S&P index recorded one new 52-week high and 30 new lows, while the Nasdaq recorded 21 new highs and 192 new lows.

read more read moreAmong the 11 S&P 500 sector indexes, technology (.SPLRCT) was the sole decliner, down 1.2%. read moreEli Lilly & Co , which is also developing an Alzheimer's drug, rose 7.7% and was the biggest boost to the S&P 500 index. In the previous session, Wall Street's main indexes sank deeper into a bear market, with the S&P 500 recording its lowest close in almost two years on rate hike worries. read moreAdvancing issues outnumbered decliners by a 3.55-to-1 ratio on the NYSE and by a 2.45-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 29 new lows, while the Nasdaq recorded 16 new highs and 140 new lows.

☆ Biogen’s $11 bln Alzheimer’s gain has cushion
▼ + stars: | 2022-09-28 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Sept 28 (Reuters Breakingviews) - An effective treatment for Alzheimer’s disease has long been the holy grail for drug companies. The $11 billion pop in Biogen’s (BIIB.O) market capitalization on Wednesday morning looks impressive but implies some skepticism that Japan’s Eisai (4523.T), and its partner Biogen, have found it. If the drug is priced at $20,000 a patient annually after discounts, it implies around 330,000 take it. Considering the disease affects far more people globally and there are no effective treatments, this seems like a low bar. Eisai will present the study’s results in late November and said it will publish the results in a peer-reviewed journal.

☆ Here's why Biogen's promising Alzheimer's drug data is also good news for Eli Lilly
▼ + stars: | 2022-09-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

The move helped Eli Lilly notch a fresh 52-week high Wednesday, the only stock in the S & P 500 to do so. Bottom line Biogen's topline data appears to be encouraging, suggesting the Alzheimer's drug helped slowed cognitive decline. Plus, we think Eli Lilly has more going for it overall than Biogen, making it a more attractive investment. Drug background Like Biogen's Alzheimer's drug lecanemab, Lilly's donanemab is an antibody that tries to reduce buildup on the brain of the amyloid beta protein . The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.

☆ Analysis: Alzheimer's drug trial breakthrough boost for Roche, Eli Lilly
▼ + stars: | 2022-09-28 | by ( Natalie Grover | ) www.reuters.com time to read: +5 min

Eli Lilly logo is shown on one of the company's offices in San Diego, California, U.S., September 17, 2020. Nearly all Alzheimer's drugs, including those targeting amyloid, have stumbled in trials. Late-stage data on gantenerumab is expected by the fourth quarter, Roche said in a statement, saying it was encouraged by the lecanemab data. Results of a key late-stage trial testing the drug are anticipated by mid-2023. AMYLOID HYPOTHESISSome researchers, including Frederiksen, are cautiously optimistic about the impact the Biogen, Eisai data has on the likelihood of success for the other two drugs in development.

The trial results released on late Tuesday could mark a rare victory in the search for a treatment for the memory-robbing disease after years of clinical failures. Biogen's stock surged 46.6% to $290.99 in premarket trading, putting it on track to add over $13.5 billion in market capitalization. BMO analyst Evan Seigerman called the data an "unequivocal win" for Biogen and Alzheimer's patients. The latest trial boost for Biogen and Eisai's lecanemab has raised hope for success in trials testing Roche's gantenerumab and Lilly's donanemab. Shares of smaller Alzheimer's drug developers also rose in premarket U.S. trading.

☆ 2 takeaways from our daily meeting: What's behind the bounce and Club stocks in the news
▼ + stars: | 2022-09-28 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Market gets an oversold bounce Quick Club mentions: AAPL, LLY, EL 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ What Cramer is watching Wednesday — oversold market bounce; promising Alzheimer's drug
▼ + stars: | 2022-09-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

Citi crushes the autos with price target cuts: $78 per share from $87 for General Motors (GM); $13 from $16 for Ford (F). Citi lowers its price target on Caterpillar (CAT) $180 per share from $195. Downgrades NSC to neutral from positive (hold from buy), cuts price target to $218 per share from $275. Barclays cuts price target on AMAT to $85 per share from $95, keeps equal weight (hold) rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Shares of Biogen and Eisai were halted, but shares of Eli Lilly & Co , which is also developing an Alzheimer's drug, were up 6.7% in after hours trade. Aduhelm was the first new Alzheimer's drug approved in 20 years after a long list of high-profile failures for the industry. Symptomatic brain swelling was seen in 2.8% of those in the lecanemab group and none of the placebo group, they said. Aduhelm's approval was a rare bright spot for Alzheimer's patients, but critics have called for more evidence that amyloid-targeting drugs are worth the cost. Other plaque-targeting antibodies in late-stage development for Alzheimer's patients include Roche Holding AG's (ROG.S) gantenerumab and Eli Lilly's donanemab.

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