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NVS

Novartis

$78.29

-0.16 (-0.20%)

17:07
10/09/16
10/09
17:07
10/09/16
17:07

Novartis reports data from ASCEND-3, ASCEND-5 trials of Zykadia

Novartis announced updated results from the Phase II ASCEND-3 trial, which demonstrated that anaplastic lymphoma kinase-positive non-small cell lung cancer patients taking Zykadia as their first ALK inhibitor had a median progression-free survival of 18.4 months, with a median follow-up time of 25.9 months. Further, in a sub-analysis of these data, patients who entered the study with brain metastases at baseline experienced an overall response rate of 63.3% and a disease control rate of 83.7%. These results were similar to those in patients without brain metastases, who demonstrated an ORR of 64.0% and DCR of 88.0%. At the time of analysis, the estimated 18-month overall survival rate was 73.4%. This population also demonstrated an ORR of 63.7% and median duration of response of 23.9 months. A decrease in tumor burden from baseline was shown in 94.7% patients. Results from the Phase III ASCEND-5 study were also presented for the first time. The ASCEND-5 study assessed median PFS in patients previously treated with crizotinib and one or two prior regimens of cytotoxic chemotherapy who then received either Zykadia or standard chemotherapy. Results demonstrated a statistically significant and clinically meaningful improvement in median PFS by BIRC for patients taking Zykadia versus chemotherapy. Median PFS by BIRC for Zykadia and chemotherapy were 5.4 months vs. 1.6 months, respectively.

NVS Novartis
$78.29

-0.16 (-0.20%)

08/31/16
LEER
08/31/16
NO CHANGE
Target $61
LEER
Outperform
Teva price target lowered to $61 from $66 at Leerink
Leerink analyst Jason Gerberry lowered his price target for Teva (TEVA) to $61 from $66 on loss of Copaxone patent challenge as an upside catalyst. The analyst believes Teva's share price implies a generic entrant sometime in the second half of 2017 after losing an Inter Partes Review decision on two Copaxone 40mg anchor patents. In order to mitigate EPS downside in 2017-2018 and eliminate business uncertainty, Gerberry thinks the company should settle its Copaxone patent dispute with Novartis (NVS) and Momenta (MNTA), which he sees as "the most credible" generic threat. The analyst reiterates an Outperform rating on Teva's shares.
08/31/16
PIPR
08/31/16
NO CHANGE
PIPR
Piper's Schimmer unsure of impact from Novartis CAR-T shakeup
Piper Jaffray analyst Joshua Schimmer said he's struggling with the implications of the news that Novartis (NVS) is reportedly eliminating its Cell and Gene Therapy unit as a stand-alone entity, which is primarily focused on development of CAR-T and adoptive immunotherapies. On the one hand, removing a leading competitor is a positive for the rest of the field, Schimmer tells investors in a research note. On the other hand, the move by Novartis could signal "significant challenges" in the field, the analyst adds. Schimmer continues to prefer companies "with unique and differentiated approaches," namely Bellicum Pharmaceuticals (BLCM), Cellectis (CLLS), Lion Biotechnologies (LBIO), Amgen (AMGN), Celgene (CELG) and bluebird bio (BLUE). Juno Therapeutics (JUNO) and Kite Pharma (KITE) are down 6% and 5%, respectively, in midday trading.
09/02/16
LEER
09/02/16
NO CHANGE
LEER
Outperform
Teva third Copaxone patent invalidated as expected, says Leerink
Leerink analyst Jason Gerberry says Teva (TEVA) suffered a largely expected loss in its Copaxone 40mg patent battle, with the Patent Trial and Appeal Board, or PTAB, ruling a third patent invalid. The analyst believes the company will likely appeal the loss, along with PTAB rulings rendered last week that other Copaxone patents were invalid. Gerberry sees the bull case scenario of Teva securing patent exclusivity of the Copaxone 40mg as unlikely and says a settlement with Momenta (MNTA) and Novartis (NVS) is the most logical course of action to mitigate 2017-2018E EPS risk. He reiterates an Outperform rating on Teva's shares.
09/20/16
CHDN
09/20/16
INITIATION
Target $95
CHDN
Buy
Novartis initiated with a Buy at Chardan
Chardan initiated Novartis with a Buy and a $95 price target.

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