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PTHN

Patheon

, RHHBY

Roche

$28.02

0.6 (2.19%)

09:16
11/28/16
11/28
09:16
11/28/16
09:16

Patheon to acquire manufacturing site in Florence, South Caroline from Roche

Patheon N.V. (PTHN) announced that it has signed a definitive agreement to acquire a state-of-the-art active pharmaceutical ingredients manufacturing facility in Florence, South Carolina, from Roche Holdings, Inc., an indirect, wholly owned subsidiary of Roche Holding Ltd (RHHBY), which it will integrate into the Patheon network. Under the terms of the purchase agreement, Patheon will acquire the site for an immaterial sum, plus the cost of associated inventory and spare parts. Patheon has also entered into a multi-year supply arrangement with Roche. Patheon expects the supply agreement to help defray the costs associated with running the site for the next few years while it adds new client work into the facility. Over time, Patheon expects the Florence facility to have a similar financial profile to its other sites in its drug substance segment. Patheon will acquire a 1,100 acre, 300,000 square-foot facility with manufacturing capacity for API ranging from development to manufacturing services. With the addition of this site, the company expands its capacity for manufacturing highly potent compounds, and adds capabilities to support solid-state chemistry, micronization, and eventually, commercial spray drying.

PTHN

Patheon

RHHBY

Roche

$28.02

0.6 (2.19%)

  • 29

    Nov

  • 03

    Dec

PTHN Patheon

08/15/16
08/15/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Symantec (SYMC) reinstated with a Buy at Goldman. 2. Diebold (DBD) resumed with a Neutral at JPMorgan. 3. LifeLock (LOCK) initiated with a Neutral at Goldman. 4. Patheon (PTHN) initiated with an Overweight at Piper Jaffray, an Outperform at Baird, an Overweight at JPMorgan, an Overweight at KeyBanc, a Buy at UBS, an Outperform at Wells Fargo, an Outperform at Raymond James, an Overweight at Morgan Stanley, and an Outperform at William Blair. 5. Impinj (PI) initiated with an Overweight at Piper Jaffray, an Outperform at RBC Capital, an Overweight at Pacific Crest, a Buy at Canaccord, and a Buy at Needham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/15/16
EVER
08/15/16
INITIATION
Target $33
EVER
Buy
Patheon initiated with a Buy at Evercore ISI
Evercore ISI analyst Ross Muken initiated Patheon with a Buy and $33 price target.
08/15/16
JEFF
08/15/16
INITIATION
Target $32
JEFF
Buy
Patheon initiated with a Buy at Jefferies
Jefferies analyst David Windley initiated Patheon with a Buy and $32 price target.
11/10/16
LEER
11/10/16
INITIATION
Target $31
LEER
Outperform
Patheon initiated with an Outperform at Leerink
Leerink analyst Puneet Souda started Patheon with an Outperform rating and $31 price target.
RHHBY Roche
$28.02

0.6 (2.19%)

09/12/16
JEFF
09/12/16
NO CHANGE
Target $57
JEFF
Hold
Jefferies cuts Bristol-Myers price target, upgrades AstraZeneca
Jefferies analyst Jeffrey Holford lowered his price target for Bristol-Myers Squibb (BMY) to $57 from $69 saying the stock is positioned for a "rough mid term ride." The analyst sees a "difficult catalyst" set for Bristol shares with "numerous" upcoming competitor read-outs in non-small cell lung cancer. The market could see worse than expected data from Bristol's CM-026 and CM-568 studies as well as better than expected data from AstraZeneca's (AZN) MYSTIC study and Roche's (RHHBY) Chemo-IO studies in the first half of 2017, Holford tells investors in a research note. He keeps a Hold rating on Bristol and upgraded this morning AstraZeneca to Buy from Hold. Holford prefers Astra for its immunology exposure.
09/27/16
PIPR
09/27/16
NO CHANGE
Target $62
PIPR
Neutral
Bristol-Myers price target lowered to $62 from $65 at Piper Jaffray
Piper Jaffray analyst Richard Purkiss lowered his price target for Bristol-Myers Squibb (BMY) to $62 saying he sees the company ceding Opdivo's early-mover advantage in lung cancer to competitors. The analyst expects to see details from Roche's (RHHBY) positive OAK trial of Tecentriq vs. docetaxel in non-small cell lung cancer at the upcoming ESMO meeting. Purkiss also expects to see details from Merck's (MRK) positive KEYNOTE-024 trial of Keytruda. The analyst lowered his post-2016 Opdivo forecasts and reiterates a Neutral rating on Bristol shares.
10/19/16
LEER
10/19/16
NO CHANGE
LEER
Roche Tecentriq approval increases competition, says Leerink
Leerink analyst Seamus Fernandez says that the FDA approval of Roche's (RHHBY) Tecentriq in second-line non-small cell lung cancer patients regardless of PD-L1 expression comes as no surprise given its previously reported overall survival advantage. Nonetheless, the analyst believes it creates new competition for Bristol-Myers' (BMY) Opdivo and Merck's (MRK) Keytruda in this setting.
11/09/16
SBSH
11/09/16
NO CHANGE
SBSH
Citi sees Healthcare 'relief rally' after Trump win
Citi analyst Andrew Baum expects a "'relief rally" to drive near-term sector outperformance for names in the Healthcare space given the "inability of the Democrats to attain the Presidency, the House or Congress." Longer term, however, the analyst still sees "significant continued legislative risk" for pharma reimbursement. Baum prefers GlaxoSmithKline (GSK), AstraZeneca (AZN), Shire (SHPG) and Roche (RHHBY) among European majors and Bristol-Myers (BMY) and Eli Lilly (LLY) in the U.S.

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FRO

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Nestle

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LNG

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, VIAB

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SNE

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CMCSA

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CMCSK

Comcast

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GSK

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BHVN

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RARX

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VSTM

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BMY

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AGIO

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SNOW

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CI

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FL

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RHT

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ALXN

Alexion

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, UTHR

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UTHR

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