Wednesday, October 10, 2018
RA Pharmaceuticals upgraded to Strong Buy from Outperform at Raymond James
https://thefly.com/landingPageNews.php?id=2801961
Abbott price target raised to $77 from $70 at RBC Capital
RBC Capital analyst Glenn Novarro raised his price target on Abbott to $77, saying that while the company is faced with “tougher comps” in Q3 relative to the 7.5% organic growth in the first half of 2018, some upside to consensus is a “distinct possibility”. The analyst is particularly positive on the Medical Devices and Diagnostics segments potentially driving the upside thanks to the momentum of new products such as Libre and Alinity. Novarro keeps his Outperform rating on Abbott and also raises his FY19 EPS view to $3.30 from $3.27.
Boehringer, Lilly: Positive impact of Jardiance on life expectancy
Novel results based on data from the landmark EMPA-REG OUTCOME® trial were published in the journal Circulation which suggest that treatment with Jardiance® positively impacts life expectancy in adults with type 2 diabetes and established cardiovascular disease, Boehringer Ingelheim and Eli Lilly and Company (NYSE: LLY) announced today. Using actuarial methods*, and assuming that the demonstrated beneficial effects of Jardiance remain consistent with long-term use, Jardiance was estimated to extend life expectancy by 1 to 4.5 years on average, depending on age, when compared with placebo. This analysis suggests that treatment with Jardiance could add years of life.
In an analysis of data from 7,020 people included in the EMPA-REG OUTCOME trial, estimated life expectancy increased across all ages when adults were treated with Jardiance as compared to those treated with placebo. Specifically, estimated mean survival in people aged 45 years was 32.1 years with Jardiance versus 27.6 years with placebo, resulting in a mean survival difference of 4.5 years. In people aged 50, 60, 70 and 80 years old, the mean survival difference with Jardiance compared to placebo was an additional 3.1 years, 2.5 years, 2 years and 1 year, respectively.
Mednax acquires large neonatology practice in South Florida
Mednax has acquired South Dade Neonatology, a private neonatology practice based in Miami. Founded in 1999, South Dade Neonatology is a group that has provided neonatology services in South Florida for nearly 20 years. Comprising 33 physicians, 17 neonatal nurse practitioners, one physician assistant, 21 newborn hearing screen techs and six administrative staff, the practice provides neonatal care for pre-term newborns and critically ill babies in addition to newborn hearing screens and well-baby coverage. South Dade Neonatology services nine regional hospitals. This was a cash transaction and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.
RedHill to Present on Positive Phase III Crohn’s Disease Study
RedHill Biopharma Ltd. (Nasdaq: RDHL) (Tel-Aviv Stock Exchange: RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company primarily focused on proprietary drugs for gastrointestinal diseases, today announced that a late-breaking abstract on the positive Phase III study with RHB-104 in Crohn’s disease (MAP US study) will be presented at the upcoming United European Gastroenterology Week (UEG Week 2018), October 20-24, 2018, in Vienna, Austria.
The presentation will highlight data from the MAP US Phase III study of RHB-104, including subgroup analysis of treatment with and without anti-TNF agents. Positive top-line results from the MAP US Phase III study were announced in July 2018. The study successfully met its primary endpoint and key secondary endpoints, demonstrating consistent benefit to Crohn’s disease patients treated with RHB-104.
“As additional data from the MAP US Phase III study becomes available, we continue to learn more about the efficacy and safety of orally-administered RHB-104 and its potential to address significant unmet medical needs in Crohn’s disease,” said Ira Kalfus, MD, RedHill’s Medical Director. “We are excited to present this positive top-line data from the MAP US study at the upcoming UEG conference.”
Akorn receives ANDA approval for Bimatoprost Ophthalmic Solution
Akorn (NASDAQ:AKRX) has received a new Abbreviated New Drug Application (ANDA) approval from the FDA for Bimatoprost Ophthalmic Solution, 0.03%.
According to IQVIA, sales of bimatoprost ophthalmic solution, 0.03% were ~$63.5M for the year ended August 2018.
Bimatoprost ophthalmic solution, 0.03% is indicated to treat hypotrichosis of the eyelashes by increasing their growth including length, thickness and darkness.
Shares are up 8% premarket.
Neovasc’s Reducer granted breakthrough device designation from FDA
Neovasc’s Reducer, a medical device for the treatment of refractory angina and not currently approved for commercial sale in the U.S., has been granted Breakthrough Device designation by the FDA.
https://thefly.com/landingPageNews.php?id=2802079
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