No need for imminent ECB action on coronavirus: ECB’s Kazimir

There is no need for any imminent action from the European Central Bank to combat the impact of the coronavirus outbreak, but global coordination to shield the world economy is a welcome step, ECB policymaker Peter Kazimir said on Tuesday.

“There’s no imminent need to act, but we’re ready to step in when and where necessary,” Kazimir, Slovakia’s central bank chief, said on Twitter. “G7 coordination, aimed to shield the global economy, is much appreciated.”
Kazimir added that panic and overreaction could be costly but it was important for the ECB to remain alert.

https://www.marketscreener.com/news/No-need-for-imminent-ECB-action-on-coronavirus-ECB-s-Kazimir–30101057/

Bausch Health backs away from planned debt offering

Citing market conditions, Bausch Health Companies (NYSE:BHC) has decided not to move forward with refinancinging its existing credit agreement. Subsidiary Bausch Health Americas will not issue $3.25B of secured debt securities.

The company will also rescind its redemption notice for $3.25B of its outstanding 6.500% Senior Secured Notes due 2022 and 7.000% Senior Secured Notes due 2024.

https://seekingalpha.com/news/3547895-bausch-health-backs-away-from-planned-debt-offering

Genentech’s Esbriet a Breakthrough Therapy for interstitial lung disease

The FDA has granted Breakthrough Therapy Designation to Roche (OTCQX:RHHBY) unit Genentech’s Esbriet (pirfenidone) for adults with unclassifiable interstitial lung disease (uILD).

Breakthrough Therapy status provides for more intensive guidance from the FDA on development, the involvement of more senior agency personnel and a rolling review of the marketing application.

https://seekingalpha.com/news/3547893-genentech-s-esbriet-breakthrough-therapy-for-interstitial-lung-disease

Alnylam’s Givlaari OK’d in Europe

As expected, the European Commission approves Alnylam Pharmaceuticals’ (NASDAQ:ALNY) Givlaari (givosiran) for the treatment of acute hepatic porphyria (AHP) in adults and adolescents at least 12 years old.

A little over a month ago, the advisory group CHMP adopted a positive opinion recommending approval.

https://seekingalpha.com/news/3547916-alnylams-givlaari-okd-in-europe-for-ahp

Coronavirus outbreak to not affect supply of medicines – Eli Lilly

In a statement, Eli Lilly (NYSE:LLY) says COVID-19 will not impact the supply of any of its drugs, including all forms of insulin. All medicines are available as normal with delivery from wholesalers to pharmacies in 1-2 days.

Shares up 1% premarket on light volume.

https://seekingalpha.com/news/3547921-coronavirus-outbreak-to-not-affect-supply-of-medicines-eli-lilly

Antares Pharma +5% premarket on Q4 beat

Antares Pharma (ATRS) Q4 results:

Revenues: $37.8M (+101.1%); Product sales: $28.5M (+100.7%); Licensing and development revenue: $3.2M (+190.9%); Royalties: $6.2M (+77.1%).

Xyosted: $8.4M; Otrexup: $5.6M.

Net Income: $4.7M (-23.0%); EPS: $0.03 (-25.0%); Quick Assets: $45.7M (+63.8%).

2020 guidance: Revenue: $135M – 155M.

Shares are up 5% premarket.

https://seekingalpha.com/news/3547926-antares-pharmaplus-5-premarket-on-q4-beat

FDA OK’s emergency use of respirator face masks for COVID-19

The FDA has granted a request from the Centers of Disease Control and Prevention (CDC) for an emergency use authorization to allow healthcare personnel to use certain industrial respirator face masks, including N95s, as an extra preventative measure against COVID-19.

The industrial face masks achieve a closer facial fit than surgical masks and are more efficient filterers of airborne particles. Since they are used in construction and other industrial environments, they are not required to meet FDA standards for testing.

ETFs: THW, BME, GRX, IXJ, GDNA, KMED, XLV

https://seekingalpha.com/news/3547927-fda-oks-emergency-use-of-respirator-face-masks-for-covidminus-19