GlaxoSmithKline (GSK) and Denmark-based Genmab received some good news with the US Food and Drug Administration’s (FDA) approval for Arzerra (ofatumumab), a monoclonal antibody for patients with chronic lymphocytic leukemia (CLL), a slowly progressing cancer of the blood and bone marrow.  Arzerra is approved for cancer patients who are no longer responding to the current available treatment options using fludarabine and alemtuzumab. Following the approval, Genmab has become eligible to receive a milestone payment of DKK 116 million (approximately $23 million) from Glaxo.  Earlier, in May 2009, Arzerra had received a positive recommendation from the FDA's Oncologic Drugs Advisory Committee (ODAC) in which the panel had voted 10-3 in favor of the drug. They had found that Arzerra provided some clinical benefit to patients with CLL whose disease was refractory to fludarabine and alemtuzumab.  Arzerra has been approved by the FDA under the accelerated approval process ...

For Immediate Release

Chicago, IL – October 21, 2009 – 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: Biogen Idec (BIIB), Elan (ELN), UnitedHealth Group Inc. (UNH), Forest Laboratories, Inc. (FRX) and Cypress Biosciences (CYPB).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Tuesday’s AnalystBlog:

Biogen Reports Higher Earnings

Today morning, Biogen Idec (BIIB) reported third quarter earnings per share of $1.12, beating the Zacks Consensus Estimate of $1.02. The company reported earnings of 98 cents in the year-ago period. Revenues increased 3% to $1.12 billion, with Tysabri being the primary growth

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Today morning, Biogen Idec (BIIB) reported third quarter earnings per share of $1.12, beating the Zacks Consensus Estimate of $1.02. The company reported earnings of 98 cents in the year-ago period. Revenues increased 3% to $1.12 billion, with Tysabri being the primary growth driver. Tysabri sales came in at $207 million, up 21% from the prior period. The company estimates that as of the end of September 2009, about 46,200 patients were on commercial and clinical Tysabri therapy worldwide. This represents an increase from the 43,300 patients reported by the company in the second quarter of 2009. Tysabri is an important growth driver and we expect the product, which is partnered with Elan (ELN), to cross $1 billion in worldwide sales in 2009. Meanwhile, Biogen’s lead multiple sclerosis (MS) product Avonex posted sales of $580 million (up 1%) with U.S. sales growing 8% to ...

For Immediate Release

Chicago, IL – October 14, 2009 – 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: American International Group (AIG), Morgan Stanley (MS), Elan Corporation (ELN), Biogen Idec (BIIB) and Johnson & Johnson (JNJ).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Tuesday’s Analyst Blog:

AIG to Sell Taiwan Life Unit

American International Group (AIG) said on Monday that it has decided to sell its stake of almost 98% in Taiwan life insurance unit Nan Shan Life Insurance Co. for about $2.2 billion to a group led by Hong Kong-based

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Elan Corporation (ELN) recently received a subpoena from the US Securities and Exchange Commission (SEC) regarding the company’s disclosure of two brain disorder cases (in July 2008), often fatal, tied to the use of its drug Tysabri for the treatment of multiple sclerosis. Elan has a marketing agreement with Biogen Idec (BIIB) for Tysabri. In addition, the subpoena asked for detailed information regarding clinical trial data on bapineuzumab, a drug for the treatment of Alzheimer's disease. Recently, Johnson & Johnson (JNJ) paid $885 million for an 18.4% stake in Elan in addition to $500 million for a majority stake in the company’s Alzheimer's disease pipeline. As a reminder, in July last year, both Elan and Biogen announced the occurrence of two cases of brain infection, progressive multifocal leukoencephalopathy (PML), in patients taking the drug. Meanwhile, 11 such cases have been reported by the companies ...

We believe the dispute between Elan Corp. (ELN) and its US partner Biogen Idec (BIIB) over the multiple-sclerosis drug Tysabri has been resolved at last.

It started when Elan signed a deal with Johnson & Johnson (JNJ) last July. But now, the two companies have amended this deal to drop the terms involving Tysabri.

J&J will now pay $885 million, down from the previously-announced $1 billion, for an 18.4% stake in Elan. However, J&J's $500 million investment for a majority stake in the Alzheimer's disease pipeline remains unchanged. Although Elan claimed that the new terms will restore its 'unintended breach' of contract with Biogen Idec related to Tysabri rights, we are yet to know whether its US partner has accepted this argument.

Biogen and Elan have a 50-50 partnership deal for Tysabri under which each has rights to acquire full control of the drug if there is any change

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On Friday, Genzyme Corp. (GENZ) presented encouraging four-year follow-up phase II data on alemtuzumab, which is being developed for the treatment of multiple sclerosis (MS). Results showed durable reductions in relapse rate and sustained accumulation of disability even three years after patients received their last course of alemtuzumab.

The company presented these efficacy and safety data at the annual meeting of the European Committee for Treatment and Research in Multiple Sclerosis in Germany. This CAMMS223 study was conducted in early, relapsing-remitting MS patients, who were randomized to receive either alemtuzumab or Pfizer/Serono's (PFE) Rebif.

Patients taking once-yearly cycles of alemtuzumab reduced their risk of relapse by 72% and the risk of sustained accumulation of disability by 73% compared to patients receiving Rebif. Additionally, the annualized relapse rate and disability risk measured from year three to four remained at the same low level observed in prior years of

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We believe the dispute between Elan Corp. (ELN) and its US partner Biogen Idec (BIIB) over multiple-sclerosis drug Tysabri has been resolved at last. The row started when Elan signed a deal with Johnson & Johnson (JNJ) last July. But now, the two companies have amended this deal to drop the terms involving Tysabri.

J&J will now pay $885 million, down from the previously announced $1 billion for an 18.4% stake in Elan. However, J&J’s $500 million investment for a majority stake in the Alzheimer's disease pipeline remains unchanged. Although Elan claimed that the new terms will restore its 'unintended breach' of contract with Biogen Idec related to Tysabri rights, we are yet to know whether its US partner has accepted this argument.

Biogen and Elan have a 50-50 partnership deal for Tysabri under which each has rights to acquire full control of the drug, if

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PWRM, Power 3 Medical Products Inc, PWRM.OB

BIIB, Biogen Idec Inc.

TBIO, Transgenomic Inc, TBIO.OB

ELN, Elan Corp. Plc

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Dr Stock Pick HOT News & Alerts!

 

 

Friday September 11, 2009

************************************************************** PWRM, Power 3 Medical Products Inc. and TBIO, Transgenomic Inc.

PWRM is a leading bio-medical company engaged in the commercialization of neurodegenerative disease and cancer biomarkers, pathways, and mechanisms of diseases through the development of diagnostic tests and drug targets.

PWRM and Transgenomic, Inc. announced recently the advance on-line publication of a clinical research paper entitled “Abnormal Serum Concentrations of Proteins in Parkinson’s Disease” in the scientific journal Biochemical

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• Novellus (NASDAQ:NVLS) CEO Rick Hill provided optimistic outlooks for the current quarter and next. He narrowed the gain in bookings to an expected 40-55% rise from 20-50%, the range of shipments to $150 -$170 million from $140-$170 million, with earnings expected to range between a nine cent loss and breakeven, up from a 15 cent loss and breakeven

• Citigroup (NYSE:C) analysts lowered their rating on Abercrombie and Fitch (NYSE:ANF) to "sell" from "hold" and cut the price target to $24 from $33

• Costco (NASDAQ:COST) received an upgrade from JP Morgan (NYSE:JPM)

• H&R Block (NYSE:HRB) reported fiscal first quarter loss from continuing operations of 39 cents a share, a bit worse than the Zacks expectations of a 37 cent loss, as revenues grew 1.3% to $275.5 million, off estimates of $281 million. The firm, however, maintained full year projections of $1.60-$1.80

• Cooper Companies (NYSE:COO) reported third quarter earnings of 54

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