Walgreens Boots Alliance (WBA) and Alibaba Group (BABA) announced the launch of a Boots flagship store on Tmall Global, Alibaba’s B2C platform for international brands and retailers, to introduce a number of iconic Boots beauty brands to more than half a billion consumers on Alibaba’s platforms in China. The new Boots flagship Tmall Global store gives Chinese consumers access to some of the most popular Boots beauty brands in the UK and the U.S., initially No7, Soap & Glory and Boots Cucumber, reflecting the Chinese consumers’ increasing sophistication and appetite for high-quality, international beauty brands.
Thursday, September 20, 2018
Mylan, Fujifilm Kyowa get Euro Authorization for Humira biosimilar
Mylan (MYL) and Fujifilm Kyowa Kirin Biologics announced that the European Commission has granted marketing authorization for Hulio, a biosimilar to AbbVie’s (ABBV) Humira – adalimumab -, for all indications. The authorization follows the adoption of a positive opinion by the Committee for Medicinal Products for Human Use, which concluded that the development program including analytical, functional, clinical and immunogenicity data demonstrated biosimilarity with the reference product, Humira. The EC approval of Hulio applies to all 28 European Union member countries and European Economic Area member states of Norway, Iceland and Liechtenstein. Mylan plans to launch Hulio across various markets in Europe on or after Oct. 16. Mylan and Fujifilm Kyowa Kirin Biologics partnered earlier this year. Fujifilm Kyowa Kirin Biologics has a nonexclusive royalty bearing license with AbbVie for the use and sale of Hulio in European countries. Humira had brand sales of approximately $4.4B in Europe for the 12 months ending June 30, 2018.
Buy Tandem Diabetes on recent weakness, says Oppenheimer
Oppenheimer analyst Steve Lichtman tells investors in a research note that he is a buyer of Tandem Diabetes (TNDM) shares on recent weakness and ahead of its September 25 Investor & Analyst Day. Lichtman says Tandem will bring the next advanced insulin pumps to market beyond Medtronic (MDT) with Basal-IQ rolling out now and Control-IQ in summer 2019, which position Tandem well to be a share gainer.
Merrimack receives $5M milestone payment from Shire
Merrimack (MACK) has received a $5M milestone payment from Shire (SHPG), triggered by the sale of Onivyde in the first major non-European, non-Asian country, pursuant to the terms of Merrimack’s asset sale to Ipsen in 2017. The terms of the company’s asset sale to Ipsen in 2017 entitled Merrimack to receive up to an aggregate of $33.0M in net milestone payments from Shire, of which Merrimack has now received $23.0M, including this milestone and the $18.0M payment in August 2018 resulting from the sale of Onivyde in two additional major European countries. Merrimack remains eligible to receive up to an additional $10.0M in milestone payments for the first patient dosed in a pivotal clinical trial of Onivyde in an indication other than pancreatic cancer. Furthermore, Merrimack is entitled to receive up to an aggregate of $450M in regulatory-based milestones from Ipsen. Merrimack expects to pass these proceeds through to stockholders, net of any taxes owed and subject to there being a sufficient surplus at that time, consisting of: $225.0M upon approval by the FDA of Onivyde for the first-line treatment of metastatic adenocarcinoma of the pancreas, subject to certain conditions; $150.0M upon approval by the FDA of Onivyde for the treatment of small cell lung cancer after failure of first-line chemotherapy; and $75.0M upon approval by the FDA of Onivyde for an additional unrelated indication.
Argenx added to Best Ideas List, price target raised to $125 at Wedbush
Wedbush analyst David Nierengarten added Argenx to the firm’s Best Ideas List and raised his target price for shares to $125 from $121 based on increasing confidence in efgartigimod’s broad market opportunity in antibody-mediated autoimmune diseases. In a research note to investors, Nierengarten says he believes recent share weakness in response to additional disclosed ITP data in the company’s most recent prospectus associated with a share offering is “overblown” and creates an even more attractive entry point for investors. The analyst has an Outperform rating on shares.
Cronos Group, Aleafia Health announce start of medical cannabis study
Aleafia Health and Cronos Group announced the commencement of a joint medical cannabis study to improve the management and treatment of insomnia and daytime sleepiness. The study is funded in part by Peace Naturals Project, a licensed producer of medical cannabis that is wholly owned by Cronos Group. The study will be led by physicians practicing within the Canabo Medical Clinic network, which is wholly owned by Aleafia. According to a July 2017 report from the Canadian Centre on Substance Use and Addiction, entitled Drug Summary: Prescription Sedatives, 11.4% of adults aged 25 and older had used a prescription sedative in the past year. The study will aim to assist in the treatment of insomnia and the development of non-addictive, natural sleep aids.
Craig-Hallum says Tandem Diabetes ‘remarkable run is not over,’ starts at Buy
Craig-Hallum analyst Alexander Nowak initiated Tandem Diabetes with a Buy rating as he believes the stock’s “remarkable run is not over” given his belief that the company’s 13% share of the $1.6B insulin pump market is going higher. Also, Tandem is developing Control IQ, which Nowak considers “a vital component” to “unlocking an incremental $14B opportunity,” he tells investors. Nowak set a $52 price target on Tandem Diabetes shares, which closed yesterday down 5.7% at $39.95.Target $52.
https://thefly.com/landingPageNews.php?id=2793007
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