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Fly News Breaks for July 17, 2019
REGN, LLY, JNJ, BMY, AMGN, CELG
Jul 17, 2019 | 09:15 EDT
In the wake of the recent announcement that Bristol-Myers (BMY) plans to divest Otezla as part of its deal to acquire Celgene (CELG), Mizuho analyst Salim Syed said he has received questions on who could be a realistic buyer. He believes the "most likely" buyer would be Amgen (AMGN), followed by Johnson & Johnson (JNJ), which he would label as a "likely" buyer. Syed identifies the "less likely, but possible" buyers as Eli Lilly (LLY) and Regeneron (REGN). The analyst, who said Otezla is worth anywhere from $5B-$10B depending on the view of sales and synergy potential, keeps a Buy rating and $103 price target on Celgene shares.
News For CELG;AMGN;BMY;JNJ;LLY;REGN From the Last 2 Days
JNJ
Mar 28, 2024 | 13:57 EDT
Johnson & Johnson will pay $75M to settle a consumer protection lawsuit filed by Mississippi over the company's talc-based baby powder, according to people familiar with the matter, resolving litigation in which the state had sought as much as $6B, Bloomberg News' Jef Feeley reports. The pact comes as lawyers for the state and J&J were gearing up for a non-jury trial next month in Jackson, Mississippi, said the people. Mississippi was one of only two states to file suit over J&J's marketing of its baby powder, the author notes. Reference Link
JNJ
Mar 26, 2024 | 16:25 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
LLY, AMGN
Mar 26, 2024 | 07:08 EDT
JPMorgan estimates Amgen (AMGN) without its obesity pipeline is worth $240-$250 per share and that the market is assigning $30-$40 per share of value to Maritide. While the competitive bar for Maritide is high and moving higher based on Novo Nordisk's (NVO) recent pipeline updates, the obesity market is also "unprecedented in terms of size," the analyst tells investors in a research note. The firm estimates peak sales for Maritide of $6B, equating to mid-single-digit share within the incretin space. JPMorgan believes this supports a value roughly in-line with what is reflected in Amgen's current share price. It sees a positive risk/reward scenario given the recent pullback but maintains a Neutral rating on the name with a $290 price target. The firm says Amgen is viewed as the best positioned name beyond Eli Lilly (LLY) and Novo to have a role in the obesity space.