| Amgen Likely to React Dramatically to Early FDA Approval of Osteoporosis Drug David Greene submits: After the market closed Tuesday (June 1), Amgen (Nasdaq:AMGN) announced that the FDA approved the company's osteoporosis drug, Prolia (denosumab), for post-menopausal women at risk of suffering bone fractures. The drug inhibits the destruction of bone material and increases bone strength and mass by reducing the proteins which trigger bone-destroying cells. Although the drug was approved in Europe just a few days ago, the "surprise" was that the approval was not expected until July 25 in the US. As with most new drugs, there are side effects-- back pain, high cholesterol and urinary bladder infections. However, there are some analysts that estimate the product could see annual global sales up to $3.3 billion in 2014. Oppenheimer & Co. forecasts sales of the drug for osteoporosis alone reaching more than $2 billion a year in the global market. Amgen has filed for the drug's approval in helping prevent bone complications in cancer patients with clinical data expected later this year to validate expectations that the drug also prevents prostate cancer from spreading to the bone.Complete Story » seekingalpha.com |
6 Overbought Stocks Reporting Earnings on July 29 Kapitall submits:The following is a list of stocks with Relative Strength Indicators above 70, i.e. RSI(14) > 70, which may signal overbought conditions. All of these companies are set to report earnings on July 29. Will upcoming earnings results provide a shorting opportunity?Here is an interactive chart of analyst ratings on all the stocks mentioned in this screen. More detailed analysis follows below.Complete Story » seekingalpha.com |
Biogen Agrees to Develop Experimental ALS Drug Biogen Idec agreed to develop closely held Knopp Neurosciences' experimental treatment for amyotrophic lateral sclerosis, also known as Lou Gehrig's disease. online.wsj.com |
Generex 's Acquisition Into the Direct to Consumer Diabetes Market Provides Synergistic Value R.J Steffens submits:Generex Biotechnology's (GNBT) shareholders have read a lot of corporate news as of late, from a management change to the signing of sales and distribution agreements. Last week, Ms. Gluskin was replaced as CEO by VP and General Counsel Mark Fletcher. Generex has a loyal base of shareholders, due to the leadership provided by Ms. Gluskin and Ms. Perri, who have brought the company very close to achieving the success they dreamed of, and Monday another step appears to have been taken to strengthen the foundation of the corporation. Undoubtedly, this could not have come together without the work of the former CEO, since the management change only occurred last week. She should be recognized for her effort, and I begin by doing so. Generex announced Monday morning that they have reached an agreement to acquire a 51% ownership stake in Global Medical Direct LLC. This news comes after a weekend full of wild speculation, due to an after hours press release by Generex alerting investors that they would be making a key material announcement before yesterday morning's market opening. Many shareholders were guessing partnership news could be brewing between Generex's oncology subsidiary and Pfizer (PFE) for the small biotechnology's immunotherapeutic peptide vaccine that has drawn attention due to the very promising interim Phase II results for early stage breast cancer patients that were last updated at ASCO in June. While news of a partnership nature for Generex waits for a later date, I feel Monday's news, once digested, is a surprisingly smart strategic development that brings synergistic strength most often seen in much larger companies completing channel distribution deals to support product growth.Complete Story » seekingalpha.com |
Cochlear Implants Recalled Sonova is recalling hearing-aid implants made by its U.S. unit Advanced Bionics, a move that will hit sales and dent profits. Sonova shares slid. online.wsj.com |