Maintains Buy
https://www.benzinga.com/stock/RVNC/ratings
Thursday, January 23, 2020
EyePoint Pharma +15% premarket on preliminary 2019 revenue
Q4 total and net product revenues are estimated to be between $7.5M to $8.2M and $6.9M to $7.6M, respectively.
For FY 2019, total and net product revenues are estimated between $19.3M to $20M and $15.8M to $16.5M, respectively.
Q4 and FY 2019 YUTIQ revenue between $4.1M – $4.5M and $11.4 – $11.8M, respectively.
Q4 and FY 2019 DEXYCU revenue between $2.8M to $3.1M and $4.4M to $4.7M, respectively.
The company will host a conference call and
webcast to discuss Q4 and FY 2019 financial results on Thursday, March
5, 2020 at 8:30 AM ET.
Shares are up 15% premarket.
https://seekingalpha.com/news/3533876-eyepoint-pharmaplus-15-premarket-on-preliminary-2019-revenuesBlues health insurers fund U.S. non-profit’s generic drug expansion
A group of Blue Cross Blue Shield insurers is investing $55 million
in a new venture with a non-profit generic drug manufacturer to try to
offer cheaper prices on pharmacy drugs to their members, the companies
said on Thursday.
The Blue Cross Blue Shield Association and 18 Blue Cross Blue Shield
health insurers are working with Civica Rx, a non-profit formed two
years ago to try to increase competition for hospital-based generic
drugs.
The new subsidiary will focus on drugs that members can purchase via mail order or in retail pharmacies. It aims to launch new rivals starting in 2022 for about 7 to 10 expensive generic drugs where there is currently only one manufacturer, Civica Chairman Dan Liljenquist said. An advisory board will select the drugs.
Civica will be able to sell the drugs at a lower price than a current manufacturer by leveraging the volume of prescriptions among its Blues plans members to guarantee discounts, Liljenquist said. The company may also make drugs itself.
Members will benefit from those lower prices based on their plan
design, BCBSA strategy head Maureen Sullivan said. The lower cost the
Blues plan pays could mean lower out-of-pocket spending, savings on the
overall premium or potentially a lower co-pay or a co-pay waiver for
patients, she said.
About 78 percent of the U.S.’s $335 billion in annual drug spending is on copycat versions of branded drugs whose patents have run out, according to the generic industry trade group, the Association for Accesible Medicines.
Large generic drug manufacturers say price competition has driven down the profits of many generic drugs, leading to industry consolidation. That has increased the number of drugs with only one manufacturer, which can result in price spikes on lifesaving medicines.
The U.S. Food & Drug Administration has enacted new policies to try to ease the process for approving new rival generic drugs when there are only one or two existing drugs on the marketplace.
A Civica spokeswoman said that as of the beginning of this year, the
company’s existing venture was either supplying or producing a total of
18 hospital-based medicines including commonly used medicines like
bacitracin, lidocaine and morphine. It uses several generic
manufacturers to produce the drugs.
Participating Blues plans include Independence Blue Cross, Blue Shield of California and Highmark Blue Cross Blue Shield among others.
https://www.reuters.com/article/us-usa-pricing-generics/blues-health-insurers-fund-u-s-non-profits-generic-drug-expansion-idUSKBN1ZM1R8
The new subsidiary will focus on drugs that members can purchase via mail order or in retail pharmacies. It aims to launch new rivals starting in 2022 for about 7 to 10 expensive generic drugs where there is currently only one manufacturer, Civica Chairman Dan Liljenquist said. An advisory board will select the drugs.
Civica will be able to sell the drugs at a lower price than a current manufacturer by leveraging the volume of prescriptions among its Blues plans members to guarantee discounts, Liljenquist said. The company may also make drugs itself.
About 78 percent of the U.S.’s $335 billion in annual drug spending is on copycat versions of branded drugs whose patents have run out, according to the generic industry trade group, the Association for Accesible Medicines.
Large generic drug manufacturers say price competition has driven down the profits of many generic drugs, leading to industry consolidation. That has increased the number of drugs with only one manufacturer, which can result in price spikes on lifesaving medicines.
The U.S. Food & Drug Administration has enacted new policies to try to ease the process for approving new rival generic drugs when there are only one or two existing drugs on the marketplace.
Participating Blues plans include Independence Blue Cross, Blue Shield of California and Highmark Blue Cross Blue Shield among others.
https://www.reuters.com/article/us-usa-pricing-generics/blues-health-insurers-fund-u-s-non-profits-generic-drug-expansion-idUSKBN1ZM1R8
Roche’s risdiplam successful in SMA study
Roche (OTCQX:RHHBY) announces positive results from Part 2 of a Phase 2/3 clinical trial, FIREFISH, evaluating risdiplam in infants ages 1-7 months with spinal muscular atrophy type 1 (SMA1).
The study met the primary endpoint of the
proportion of infants sitting without support for at least five seconds
at month 12 as measured by a scale called BSID-III.
No new safety signals were observed.
Detailed data will be submitted for presentation at a future medical conference.
The company announced positive results from another Phase 2/3 study, SUNFISH, in November 2019.
Risdiplam is a survival motor neuron-2 (SMN2)
splicing modifier designed to increase and sustain SMN protein levels
throughout the central nervous system and in peripheral tissues.
Roche is leading development in collaboration with PTC Therapeutics (NASDAQ:PTCT) and the SMA Foundation.
https://seekingalpha.com/news/3533806-roches-risdiplam-successful-in-sma-studyRespiratory virus in China less virulent than 2003 SARS
The WSJ reports that
the coronavirus responsible for the current outbreak in China, mainly
in the city of Wuhan, appears less virulent than the virus responsible
for the SARS outbreak in 2003.
On the negative side, though, infection is
spreading due to better transportation infrastructure, particularly
high-speed rail. China’s economy is much more dependent on services and
consumer spending (drives ~60% of growth) so containing the outbreak
will be important considering that retail sales dropped by 50% during
the height of the 2003 epidemic.
Government officials have closed public transportation links in and around Wuhan in an effort to contain the spread.
Selected tickers that have rallied on the news: Moderna (NASDAQ:MRNA) (+5% premarket), NanoViricides (NYSEMKT:NNVC) (+17%), Novavax (NASDAQ:NVAX) (+11%), ImmuCell (NASDAQ:ICCC), Aethlon Medical (NASDAQ:AEMD), Inovio Pharmaceuticals (NASDAQ:INO), BioCryst Pharmaceuticals (NASDAQ:BCRX), Nabriva Therapeutics (NASDAQ:NBRV)
https://seekingalpha.com/news/3533816-respiratory-virus-in-china-less-virulent-2003-sarsCo-Diagnostics readies coronavirus test
Thinly traded nano cap Co-Diagnostics (NASDAQ:CODX) jumps 181% premarket on increased volume in reaction to its announcement that
it has completed the principle design work for a PCR screening test for
the coronavirus, 2019-nCoV, driving the current outbreak in China.
There has been only one confirmed case in the U.S. so far, a man in the Seattle area.
https://seekingalpha.com/news/3533828-co-diagnostics-readies-coronavirus-test-shares-rocket-181-premarket
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