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The Zacks Analyst Blog Highlights: AbbVie, J&J, Heron Therapeutics, Roche and Pfizer
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For Immediate Release
Chicago, IL – March 26, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include AbbVie (ABBV - Free Report) , J&J (JNJ - Free Report) , Heron Therapeutics (HRTX - Free Report) , Roche (RHHBY - Free Report) and Pfizer (PFE - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Pharma Stock Roundup: ABBV, JNJ, HRTX and More
Discouraging results from a phase II study evaluating AbbVie’s promising cancer candidate rovalpituzumab tesirine or Rova-T in third-line or later small cell lung cancer (“SCLC”) grabbed headlines this week. Other news included a purchase offer for J&J’s diabetes device unit and successful study results announced by Heron Therapeutics and Roche.
Recap of the Week’s Most Important Stories
AbbVie’s Rova-T Falls Short in Key Lung Cancer Study: AbbVie’s promising cancer candidate, rovalpituzumab tesirine or Rova-T fell short of expectations in a phase II TRINITY study evaluating it in third-line or later small cell lung cancer (SCLC). AbbVie said it will not seek accelerated approval of Rova-T in the third-line setting after consulting with the FDA. Rova-T was added to AbbVie’s portfolio, following the $5.8 billion acquisition of Stemcentrx in June 2016. AbbVie had significant confidence in Rova-T’s potential. The failure of TRINITY has raised skepticism on Rova-T’s potential and has brought into question the viability of the Stemcentrx deal. (Read More: AbbVie Stock Falls on Weak Lung Cancer Study Outcome)
J&J Gets $2.1B Offer for LifeScan Unit: J&J said it has received a $2.1 billion binding offer from a private equity firm, Platinum Equity, for its LifeScan diabetes device unit. J&J has time until Jun 15to accept the offer, failing which it will expire. J&J has been evaluating potential strategic options for its Diabetes Care units specifically, LifeScan, Animas Corporation, and Calibra Medical since early last year. (Read More: J&J Gets $2.1B Offer for LifeScan Diabetes Device Unit)
Pfizer Gets FDA’s Priority Review to Expand Label of Xtandi: Pfizer and its Japanese partner Astellas gained FDA’s priority review for a regulatory filing, which was looking to expand the label of its prostate cancer drug Xtandi to include an early-stage patient population. The regulatory applications to add the non-metastatic Castration-Resistant Prostate Cancer (“CRPC”) indication to the drug’s label were based on the results of the PROSPER study on Xtandi. With the FDA granting priority review, a decision is expected in July. (Read More: Pfizer’s Xtandi Label Expansion Filing Gets Priority Review).
Meanwhile, British company Reckitt Benckiser Group pulled out of the discussion with Pfizer to buy the latter’s Consumer Health segment. Last October, Pfizer had said that it was exploring strategic alternatives for its Consumer Healthcare segment including a partial or a full separation through a spin-off, sale or other transaction. A decision regarding the same is expected to be made this year and it may ultimately opt to retain the business. Glaxo also said it has withdrawn from the race to buy Pfizer’s unit.
Heron’s HTX-011 Succeeds in Phase III: Heron Therapeutics’ pipeline candidate, HTX-011 met the primary endpoint in two pivotal phase III studies, evaluating it in post-operative pain control, following bunionectomy and hernia repair, respectively. Top-line data from both the studies showed that treatment with HTX-011 led to statistically significant reductions in pain intensity and opoid use through 72 hours following surgery. The candidate was also superior to bupivacaine solution, which is the current standard-of care local anesthetic for postoperative pain control. (Read More: Heron's Pain Candidate Meets Endpoint in Pivotal Studies
Roche’s Tecentriq Succeeds in Lung Cancer Combo Study: Roche’s Tecentriq met the co-primary endpoint of progression-free survival in a phase III study, evaluating the PD-L1 inhibitor in combination with chemotherapy (carboplatin and Abraxane) for the first-line treatment of advanced squamous non-small cell lung cancer (NSCLC). Tecentriq is already marketed for the treatment of second-line metastatic NSCLC. Label expansion in the first line setting should boost the drug’s sales further. However, Roche awaits overall survival data and the study will continue.(Read More: Roche Tecentriq Phase III Combo Study Meets Primary Endpoint).
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: AbbVie, J&J, Heron Therapeutics, Roche and Pfizer
For Immediate Release
Chicago, IL – March 26, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include AbbVie (ABBV - Free Report) , J&J (JNJ - Free Report) , Heron Therapeutics (HRTX - Free Report) , Roche (RHHBY - Free Report) and Pfizer (PFE - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Pharma Stock Roundup: ABBV, JNJ, HRTX and More
Discouraging results from a phase II study evaluating AbbVie’s promising cancer candidate rovalpituzumab tesirine or Rova-T in third-line or later small cell lung cancer (“SCLC”) grabbed headlines this week. Other news included a purchase offer for J&J’s diabetes device unit and successful study results announced by Heron Therapeutics and Roche.
Recap of the Week’s Most Important Stories
AbbVie’s Rova-T Falls Short in Key Lung Cancer Study: AbbVie’s promising cancer candidate, rovalpituzumab tesirine or Rova-T fell short of expectations in a phase II TRINITY study evaluating it in third-line or later small cell lung cancer (SCLC). AbbVie said it will not seek accelerated approval of Rova-T in the third-line setting after consulting with the FDA. Rova-T was added to AbbVie’s portfolio, following the $5.8 billion acquisition of Stemcentrx in June 2016. AbbVie had significant confidence in Rova-T’s potential. The failure of TRINITY has raised skepticism on Rova-T’s potential and has brought into question the viability of the Stemcentrx deal. (Read More: AbbVie Stock Falls on Weak Lung Cancer Study Outcome)
J&J Gets $2.1B Offer for LifeScan Unit: J&J said it has received a $2.1 billion binding offer from a private equity firm, Platinum Equity, for its LifeScan diabetes device unit. J&J has time until Jun 15to accept the offer, failing which it will expire. J&J has been evaluating potential strategic options for its Diabetes Care units specifically, LifeScan, Animas Corporation, and Calibra Medical since early last year. (Read More: J&J Gets $2.1B Offer for LifeScan Diabetes Device Unit)
Pfizer Gets FDA’s Priority Review to Expand Label of Xtandi: Pfizer and its Japanese partner Astellas gained FDA’s priority review for a regulatory filing, which was looking to expand the label of its prostate cancer drug Xtandi to include an early-stage patient population. The regulatory applications to add the non-metastatic Castration-Resistant Prostate Cancer (“CRPC”) indication to the drug’s label were based on the results of the PROSPER study on Xtandi. With the FDA granting priority review, a decision is expected in July. (Read More: Pfizer’s Xtandi Label Expansion Filing Gets Priority Review).
Meanwhile, British company Reckitt Benckiser Group pulled out of the discussion with Pfizer to buy the latter’s Consumer Health segment. Last October, Pfizer had said that it was exploring strategic alternatives for its Consumer Healthcare segment including a partial or a full separation through a spin-off, sale or other transaction. A decision regarding the same is expected to be made this year and it may ultimately opt to retain the business. Glaxo also said it has withdrawn from the race to buy Pfizer’s unit.
Heron’s HTX-011 Succeeds in Phase III: Heron Therapeutics’ pipeline candidate, HTX-011 met the primary endpoint in two pivotal phase III studies, evaluating it in post-operative pain control, following bunionectomy and hernia repair, respectively. Top-line data from both the studies showed that treatment with HTX-011 led to statistically significant reductions in pain intensity and opoid use through 72 hours following surgery. The candidate was also superior to bupivacaine solution, which is the current standard-of care local anesthetic for postoperative pain control. (Read More: Heron's Pain Candidate Meets Endpoint in Pivotal Studies
Roche’s Tecentriq Succeeds in Lung Cancer Combo Study: Roche’s Tecentriq met the co-primary endpoint of progression-free survival in a phase III study, evaluating the PD-L1 inhibitor in combination with chemotherapy (carboplatin and Abraxane) for the first-line treatment of advanced squamous non-small cell lung cancer (NSCLC). Tecentriq is already marketed for the treatment of second-line metastatic NSCLC. Label expansion in the first line setting should boost the drug’s sales further. However, Roche awaits overall survival data and the study will continue.(Read More: Roche Tecentriq Phase III Combo Study Meets Primary Endpoint).
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.