Target to $16 from $54
https://www.benzinga.com/stock/NKTR/ratings
Tuesday, October 8, 2019
Express Scripts Introduces 2020 Medicare Part D Plan Offerings
$0 Copay for Generic Drugs at Home Delivery (Up to 90-Day Supply) Through the Express Scripts Saver, Value and Choice Plans
Express Scripts announced today its Express Scripts Medicare® prescription drug plan (PDP) offerings for 2020, with three high-value options for coverage and savings – Saver, Value and Choice – including a $0 copay on all Tier 1 drugs via home delivery from Express Scripts Pharmacy℠.
The company’s low-premium Saver plan will continue to provide
affordable access to more than 2,800 commonly used medications, while
offering a preferred pharmacy network that includes CVS Pharmacy®,
Walmart and the Kroger Family of Pharmacies.
“Savings and meeting seniors’ prescription needs have made our Saver plan so successful,” said Jennie Knisley, Vice President, Medicare Prescription Drug Plans, Express Scripts. “Its affordable monthly premium and preferred pharmacy network provide high value at a low cost. For seniors with more complex medication needs, our Value and Choice plans offer a broader range of coverage options on both generic and brand-name drugs to help Medicare beneficiaries better manage their medication costs.”
The Saver plan offers premiums as low as $18.30 per month1 with a $0 deductible on Tiers 1 and 2 medications. A 1-month supply of Tier 1 generic medications is approximately $1 and $4 for Tier 2 generic medications when filled at one of more than 16,000 preferred retail pharmacies nationwide.2 The copays for a 90-day supply of Tier 1 or Tier 2 generic medications are $0 and $8, respectively, via home delivery from Express Scripts Pharmacy.
New for 2020, the Express Scripts Medicare Choice plan will have a $0 deductible on Tiers 1 and 2 medications, and only a $250 deductible on drugs in Tiers 3 through 5, which is a $100 decrease from 2019 and lower than the Centers for Medicare & Medicaid Services (CMS) standard deductible of $435. Also, the Choice plan offers additional coverage in the Coverage Gap for Tiers 1 and 2 drugs.
Both Express Scripts Medicare Value and Choice plans provide broader medication access with low-cost preferred pharmacy options. Each will deliver a comprehensive formulary with nearly 3,000 medications for the Value plan and 3,200 medications for the Choice plan. You can get plan coverage as high as 75% for specialty medications, after the deductible is met. Further cost savings can be achieved by using the plans’ network of more than 24,000 preferred pharmacies, including Walgreens, the Kroger Family of Pharmacies, and local, independent pharmacies nationwide.
“For more than 15 years, Express Scripts Medicare plans have been caring for millions of beneficiaries nationwide, whether they need occasional medications, or have chronic prescription drug needs,” said Knisley. “With 24/7 access to Express Scripts pharmacists to answer prescription medication questions, and specialist pharmacists and nurses who provide personalized care based on enhanced condition-specific training and experience, we help our enrollees achieve optimal health outcomes.”
Enrollment for the 2020 plan year runs from October 15 through December 7, 2019. Coverage begins on January 1, 2020. The Saver and Value plans are offered in all 50 states, the District of Columbia and Puerto Rico. The Choice plan is offered in all regions except Puerto Rico.
https://www.biospace.com/article/releases/express-scripts-introduces-2020-medicare-part-d-plan-offerings/
Express Scripts announced today its Express Scripts Medicare® prescription drug plan (PDP) offerings for 2020, with three high-value options for coverage and savings – Saver, Value and Choice – including a $0 copay on all Tier 1 drugs via home delivery from Express Scripts Pharmacy℠.
“Savings and meeting seniors’ prescription needs have made our Saver plan so successful,” said Jennie Knisley, Vice President, Medicare Prescription Drug Plans, Express Scripts. “Its affordable monthly premium and preferred pharmacy network provide high value at a low cost. For seniors with more complex medication needs, our Value and Choice plans offer a broader range of coverage options on both generic and brand-name drugs to help Medicare beneficiaries better manage their medication costs.”
The Saver plan offers premiums as low as $18.30 per month1 with a $0 deductible on Tiers 1 and 2 medications. A 1-month supply of Tier 1 generic medications is approximately $1 and $4 for Tier 2 generic medications when filled at one of more than 16,000 preferred retail pharmacies nationwide.2 The copays for a 90-day supply of Tier 1 or Tier 2 generic medications are $0 and $8, respectively, via home delivery from Express Scripts Pharmacy.
New for 2020, the Express Scripts Medicare Choice plan will have a $0 deductible on Tiers 1 and 2 medications, and only a $250 deductible on drugs in Tiers 3 through 5, which is a $100 decrease from 2019 and lower than the Centers for Medicare & Medicaid Services (CMS) standard deductible of $435. Also, the Choice plan offers additional coverage in the Coverage Gap for Tiers 1 and 2 drugs.
Both Express Scripts Medicare Value and Choice plans provide broader medication access with low-cost preferred pharmacy options. Each will deliver a comprehensive formulary with nearly 3,000 medications for the Value plan and 3,200 medications for the Choice plan. You can get plan coverage as high as 75% for specialty medications, after the deductible is met. Further cost savings can be achieved by using the plans’ network of more than 24,000 preferred pharmacies, including Walgreens, the Kroger Family of Pharmacies, and local, independent pharmacies nationwide.
“For more than 15 years, Express Scripts Medicare plans have been caring for millions of beneficiaries nationwide, whether they need occasional medications, or have chronic prescription drug needs,” said Knisley. “With 24/7 access to Express Scripts pharmacists to answer prescription medication questions, and specialist pharmacists and nurses who provide personalized care based on enhanced condition-specific training and experience, we help our enrollees achieve optimal health outcomes.”
Enrollment for the 2020 plan year runs from October 15 through December 7, 2019. Coverage begins on January 1, 2020. The Saver and Value plans are offered in all 50 states, the District of Columbia and Puerto Rico. The Choice plan is offered in all regions except Puerto Rico.
https://www.biospace.com/article/releases/express-scripts-introduces-2020-medicare-part-d-plan-offerings/
Qiagen CEO quits amid genetic sequencing U-turn, shares tumble
Qiagen’s longtime CEO Peer Schatz resigned after the German genetic testing company disclosed a reversal of its genome sequencing strategy and a slump in its Chinese business, sending its shares tumbling 20%.
In a surprise announcement late on Tuesday, the maker of diagnostic
kits for cancer and tuberculosis said it would stop developing its
next-generation genome sequencing machines and instead collaborate with
industry leader Illumina.
For the third quarter, Qiagen cut its forecast for sales growth, adjusted for currency swings, to about 3%, down from a previous outlook of 4%-5%, with its China business turning out significantly weaker than expected.
It expected to report adjusted third-quarter earning-per-share of $0.35-0.36, in line with its previous forecast.
Qiagen plans to take a pre-tax restructuring charge of about $260-$265 million, mainly to write down assets linked to the development of next-generation sequencing (NGS) instruments.
It also cited an overhaul of its global manufacturing network and possible job cuts for the writedown.
The company said Thierry Bernard, the head of the group’s molecular diagnostics business, would now take over as interim boss until a permanent CEO was found.
Shares plunged 20% to 23.47 euros at 0848 GMT, with the group losing close to 1.4 billion euros in market value, after already shedding about 17% over the previous three months.
“The fall from grace of Qiagen shares since June suggests that the market was already positioning for an unfavourable Q3, but the CEO’s departure will come as a surprise,” said Berenberg analyst Scott Bardo, adding the business nevertheless held the promise of attractive underlying growth.
Qiagen’s core work includes making diagnostics kits that test for a single genetic mutation to help decide on treatment. But in recent years the company has developed into a smaller NGS player, where a wider range or all genes are sequenced.
As part of a 15-year collaboration deal with NGS pioneer Illumina, Qiagen will rely on its genetic diagnostic products running on its new partner’s hardware.
Schatz, who will become a special adviser to the supervisory board, had been with the company for 27 years. Since he started as finance chief in 1993, Qiagen has grown from $2 million in annual revenues to $1.5 billion in 2018.
For the third quarter, Qiagen cut its forecast for sales growth, adjusted for currency swings, to about 3%, down from a previous outlook of 4%-5%, with its China business turning out significantly weaker than expected.
It expected to report adjusted third-quarter earning-per-share of $0.35-0.36, in line with its previous forecast.
Qiagen plans to take a pre-tax restructuring charge of about $260-$265 million, mainly to write down assets linked to the development of next-generation sequencing (NGS) instruments.
It also cited an overhaul of its global manufacturing network and possible job cuts for the writedown.
The company said Thierry Bernard, the head of the group’s molecular diagnostics business, would now take over as interim boss until a permanent CEO was found.
Shares plunged 20% to 23.47 euros at 0848 GMT, with the group losing close to 1.4 billion euros in market value, after already shedding about 17% over the previous three months.
“The fall from grace of Qiagen shares since June suggests that the market was already positioning for an unfavourable Q3, but the CEO’s departure will come as a surprise,” said Berenberg analyst Scott Bardo, adding the business nevertheless held the promise of attractive underlying growth.
Qiagen’s core work includes making diagnostics kits that test for a single genetic mutation to help decide on treatment. But in recent years the company has developed into a smaller NGS player, where a wider range or all genes are sequenced.
As part of a 15-year collaboration deal with NGS pioneer Illumina, Qiagen will rely on its genetic diagnostic products running on its new partner’s hardware.
Schatz, who will become a special adviser to the supervisory board, had been with the company for 27 years. Since he started as finance chief in 1993, Qiagen has grown from $2 million in annual revenues to $1.5 billion in 2018.
https://www.marketscreener.com/ILLUMINA-INC-9659/news/Qiagen-CEO-quits-amid-genetic-sequencing-U-turn-shares-tumble-29348648/
Bayer says Oct. U.S. glyphosate trial delayed until further notice
“The Oct. 15, 2019 trial date for Winston v. Monsanto in St. Louis City has been postponed,” Bayer said in a statement.
The lawsuit is the latest of several to be delayed as mediator Ken Feinberg tries to negotiate a settlement between the company and U.S. plaintiffs after a California jury in August last year found that Monsanto should have warned of alleged cancer risks.
“With the change in the trial schedule and no trial dates set through the rest of the year, the appeals of the three completed trials will be a significant focus of the litigation in the months ahead,” Bayer said.
Handelsblatt first reported the latest delay earlier on Sunday.
A court document from the Circuit Court of the City of St. Louis, dated October 4, said a status conference to reevaluate the case had been set for February 10.
The number of U.S. plaintiffs blaming Roundup and other glyphosate-based weed killers for cancer has been rising continuously to stand at 18,400 as of July 11, hitting Bayer’s share price.
https://www.marketscreener.com/news/Bayer-says-Oct-U-S-glyphosate-trial-delayed-until-further-notice–29341536/?countview=0
The lawsuit is the latest of several to be delayed as mediator Ken Feinberg tries to negotiate a settlement between the company and U.S. plaintiffs after a California jury in August last year found that Monsanto should have warned of alleged cancer risks.
“With the change in the trial schedule and no trial dates set through the rest of the year, the appeals of the three completed trials will be a significant focus of the litigation in the months ahead,” Bayer said.
Handelsblatt first reported the latest delay earlier on Sunday.
A court document from the Circuit Court of the City of St. Louis, dated October 4, said a status conference to reevaluate the case had been set for February 10.
The number of U.S. plaintiffs blaming Roundup and other glyphosate-based weed killers for cancer has been rising continuously to stand at 18,400 as of July 11, hitting Bayer’s share price.
https://www.marketscreener.com/news/Bayer-says-Oct-U-S-glyphosate-trial-delayed-until-further-notice–29341536/?countview=0
Gilead Sciences submits NDA for filgotinib in Japan
Gilead Sciences (NASDAQ:GILD) submits
NDA for filgotinib, an investigational, oral, selective JAK1 inhibitor
for the treatment of adults with rheumatoid arthritis (RA) to the
Japanese Ministry of Health, Labor and Welfare.
Filgotinib is an investigational agent and is not
approved anywhere globally. Its efficacy and safety have not been
established by any regulatory authorities.
https://seekingalpha.com/news/3504383-gilead-sciences-submits-nda-filgotinib-japanPremarket analyst action
ChromaDex (NASDAQ:CDXC) initiated with Outperform rating and $8 (119% upside) price target at Sturdivant.
Satsuma Pharmaceuticals (NASDAQ:STSA) initiated with Outperform rating at both Evercore ISI and SVB Leerink.
SpringWorks Therapeutics (NASDAQ:SWTX)
initiated with Buy rating and $37 (89% upside) price target at Goldman
Sachs. Initiated with Outperform rating at Cowen and Company. Initiated
with Outperform rating and $33 price target at Wedbush. Initiated with
Outperform rating at JPMorgan.
QIAGEN (NYSE:QGEN) downgraded to Underweight with a $25 (22% downside risk) price target at JPMorgan after the company announced lower-than-expected preliminary sales growth for Q3 after the close yesterday. Shares down 19% premarket.
Nektar Therapeutics (NASDAQ:NKTR) downgraded to Sell with a $16 (14% downside risk) price target at Goldman. Shares down 6% premarket.
Puma Biotechnology (NASDAQ:PBYI) downgraded to Sell with an $8 (21% downside risk) price target at Goldman. Shares down 4% premarket.
https://seekingalpha.com/news/3504397-jpmorgan-downgrades-qiagen-premarket-analyst-actionFDA OKs Novartis’ Beovu for wet AMD
The FDA approves Novartis’ (NYSE:NVS) BEOVU (brolucizumab-dbll) injection (formerly RTH258) for the treatment of wet age-related macular degeneration (wet AMD).
The company says it offers greater fluid resolution than Regeneron Pharmaceuticals’ (NASDAQ:REGN) EYLEA (aflibercept) injection and a three-month maintenance dosing interval.
Brolucizumab, a humanized single-chain antibody
fragment with high affinity for all VEGF-A isoforms, demonstrated
non-inferiority to EYLEA in best corrected visual acuity while showing
superiority in key retinal outcomes at year one in Phase 3 studies.
NVS is down 1% premarket on light volume.
https://seekingalpha.com/news/3504401-fda-oks-novartis-beovu-wet-amd
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