AstraZeneca Group (NYSE:AZN): Closing price $51.94
BIND Therapeutics and AstraZeneca announced that they will work jointly to develop and commercialize an Accuri, which is a targeted and programmable cancer nanomedicine from BIND’s Medicinal Nanoengineering platform, based on a molecularly targeted kinase inhibitor developed and owned by AstraZeneca. The collaboration will be based on emerging data implying that nanomedicines such as Accurins selectively accumulate in diseased tissues and cells, causing higher drug concentrations at the site of the tumor and lowered exposure to healthy tissues. Pursuant to the terms of the agreement, the firms will work together to finalize Investigational New Drug-enabling studies of the lead Accurin identified from a previously-completed feasibility program. At that point, AstraZeneca will possess the exclusive right to lead development and commercialization, while BIND will leads the manufacturing during the development phase.
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Valeant Pharmaceuticals International (NYSE: VRX): Closing price $75.00
Valeant reported that the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection to the previously announced tender offer by its indirect wholly-owned subsidiary, Odysseus Acquisition Corp., for the outstanding shares of common stock of Obagi Medical Products (NASDAQ:OMPI) at $24 per share, net to the seller in cash, without interest and subsequent merger of the purchaser with Obagi expired at 11:59 p.m., Eastern Time on April 19.
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Biogen IDEC (NASDAQ:BIIB): Closing price $212.86
Biogen’s multiple sclerosis pill Tecfidera is off to the races in its commercial intro. Analyst Mark Schoenebaum at ISI Group noted that Biogen scored as many Tecfidera perscriptions in one week as Novartis did with Gilenya after three months. The analyst wrote in an email to clients Monday that “any way you look at it, BG-12 appears to be doing very well in its inaugural week.”
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Bristol-Myers Squibb Company (NYSE: BMY): Closing price $42.30
The company announced Tuesday additional, interim Phase II data showing that 12- and 24-week Triple DAA treatment regimens of daclatasvir, asunaprevir and BMS-791325 (325) attained high rates of sustained virologic response of as much as 94 percent, in treatment-naïve, genotype 1 chronic hepatitis C patients, at time points ranging between 4 and 36 weeks post-treatment depending on the treatment group. These data support the continued development of this interferon alfa-, ribavirin – and ritonavir-free regimen, with Phase III initiation anticipated to begin by late 2013. The evaluation results will be presented this week at the International Liver Congress, the 48th annual meeting of the European Association for the Study of the Liver, in Amsterdam.
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Investing Insights: Will GlaxoSmithKline Continue To Explode?
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