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Abbott's HUMIRA® Meets Primary Endpoints in Phase III Ulcerative Colitis Study (ABT)
Tuesday, May 10, 2011 - 9:08am | 89Abbott's (NYSE: ABT) HUMIRA® met its primary endpoint of clinical remission in a Phase III study of adult patients with moderate to severe ulcerative colitis. Results were presented at the Digestive Disease Week scientific conference in Chicago. Ulcerative colitis is a chronic autoimmune disease...
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Jefferies Stays Positive On WCRX Despite Slow Start For Atelvia
Tuesday, May 10, 2011 - 9:02am | 116Jefferies is maintaining a Buy rating and $29 price target on Warner Chilcott PLC (NASDAQ: WCRX), despite a slow start for the company's Atelvia. Says Jefferies, in the report, “At only ~6x 2011 EPS, Warner Chilcott is the cheapest name in Spec Pharma – a group with an average P/E of 14x (range 6x...
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UPDATE: J.P. Morgan Raises PT on Valeant Pharmaceuticals to $53 (VRX)
Tuesday, May 10, 2011 - 9:01am | 167J.P. Morgan is out with its report today on Valeant Pharmaceuticals (NYSE: VRX), raising its PT from $46 to $53. In a note to clients, J.P. Morgan writes, "Valeant reported solid 1Q/11 results driven by upside from the US dermatology franchise as well as better-than-expected gross margins and...
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Piper Jaffray Raises PT On Valeant Pharmaceuticals After Posting Strong Quarter
Tuesday, May 10, 2011 - 8:51am | 175Yesterday, Valeant Pharmaceuticals (NYSE: VRX) reported 1Q11 cash EPS of $0.62, ahead of the Street estimate of $0.51. VRX not surprisingly raised its 2011 EPS guidance, reflecting the PharmaSwiss and Zovirax transactions. With the leanest cost structure in the pharma space and continued strong...
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Optimer Pharmaceuticals Announces Data Presented at ECCMID Illustrate Risk Factors for Negative Outcomes in C. Difficile Patients
Tuesday, May 10, 2011 - 8:46am | 74Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR) today announced the presentation of two abstracts at the 21st European Congress of Clinical Microbiology and Infectious Diseases conference in Milan, Italy highlighting additional analyses of the Phase 3 data of DIFICID™ (fidaxomicin) for the treatment...
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Should Microsoft Corporation (MSFT) buy Skype?
Tuesday, May 10, 2011 - 8:41am | 1133Microsoft Corporation (MSFT) said it would purchase internet telephony network Skype Global for $8.5 billion in cash to expand its portfolio of real-time communications products and services. It will be Microsoft's largest acquisition in nearly three decades. At that price, a Skype takeover would...
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Benzinga's Top Pre-Market NASDAQ Losers (BMTI, MNKD, HEAT, ATPG)
Tuesday, May 10, 2011 - 8:26am | 135BioMimetic Therapeutics Inc (NASDAQ: BMTI) dipped 18.67% to $10.89 in the pre-market session. BMTI reported a Q1 net loss of $8.0 million. MannKind Corporation (NASDAQ: MNKD) fell 14.09% to $3.78 in the pre-market session. MNKD reported wider-than-expected Q1 loss. Food and Drug Administration (...
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Wedbush Maintains Outperform on Avanir Pharmaceuticals (AVNR)
Tuesday, May 10, 2011 - 8:17am | 111Wedbush is out with its report today on Avanir Pharmaceuticals (NASDAQ: AVNR), maintaining Outperform. In a note to clients, Wedbush writes, "AVNR reported Q2 NUEDEXTA revenues of $505 thousand and EPS of ($0.12), vs. our estimate of $404 thousand, ($0.14) and the Street's ~0.9-1 million, ($0.11...
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FDA Licenses Sanofi Pasteur's New Influenza Vaccine Delivered by Intradermal Microinjection (SNY)
Tuesday, May 10, 2011 - 8:09am | 72Sanofi Pasteur, the vaccines division of Sanofi (NYSE: SNY), announced today the U.S. Food and Drug Administration has approved the company's supplemental biologics license application for licensure of Fluzone Intradermal (Influenza Virus Vaccine). Fluzone Intradermal vaccine is indicated for...
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UPDATE: Goldman Sachs Reinstates Valeant Pharmaceuticals International at Neutral (VRX)
Tuesday, May 10, 2011 - 8:07am | 77Goldman Sachs is out with its report today on Valeant Pharmaceuticals International (NYSE: VRX), reinstating VRX at Neutral. In a note to clients, Goldman Sachs writes, "In conjunction with 1Q results and the recent withdrawal of its consent solicitation to acquire Cephalon, we remove our Not...
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Deutsche Bank Reports on Auxilium Pharmaceuticals (AUXL)
Tuesday, May 10, 2011 - 8:00am | 117In a report released today, Deutsche Bank commented on Auxilium Pharmaceuticals (NASDAQ: AUXL). In the report, Deutsche Bank was bullish on the company. Deutsche Bank writes, “Our Buy investment rating on Auxilium is predicated on the significant commercial opportunity for Xiaflex, coupled with a...
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Novartis Fires Senior Managers for Misconduct -WSJ (NVS)
Tuesday, May 10, 2011 - 7:38am | 19WSJ reports that Novartis (NYSE: NVS) fires senior managers for misconduct.
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Piper Jaffray Raises PT On Valeant Pharmaceuticals To $65
Tuesday, May 10, 2011 - 6:14am | 27Piper Jaffray has raised the price target on Valeant Pharmaceuticals (NYSE: VRX) from $62 to $65 and maintains its Overweight rating.
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Taking a Look at Index Options 05-09-2011
Monday, May 9, 2011 - 7:18pm | 959Cusick's Corner A few readers have asked me to explain the definition of an index. An index is a grouping of stocks used to track and represent a sector, segment of the market, or a broad market, such as the Standard & Poor's 500. The S&P500 (SPX) is one of the world's best known indexes...
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Trade Ideas for Tuesday, May 10
Monday, May 9, 2011 - 5:37pm | 2082( click to enlarge ) There is an interesting pattern developing in FormFactor, Inc. (NASDAQ:FORM). The stock has been consolidating for several months after a horrific decline last year. The Volume has been gradually building on the right side of the base, and stock is testing again its 50-day...