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VRX

Valeant

, ESRX

Express Scripts

$62.90

0.57 (0.91%)

09:28
07/31/17
07/31
09:28
07/31/17
09:28

Express Scripts notes 64 new drug exclusions in 2018 Preferred Formulary

Express Scripts (ESRX) released its 2018 National Preferred Formulary and noted that for the 2018 benefit year, it will introduce 64 new drug exclusions to the NPF. Combined with prior year exclusions, a total of 159 out of 3,791 available drugs will be excluded, Express Scripts said. New exclusions include Amgen's (AMGN) Neupogen, Eli Lilly's (LLY) Forteo and Valeant's (VRX) Wellbutrin SR. Reference Link

VRX

Valeant

ESRX

Express Scripts

$62.90

0.57 (0.91%)

AMGN

Amgen

$174.54

2.39 (1.39%)

LLY

Eli Lilly

  • 08

    Aug

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    Aug

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    Aug

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    Sep

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    Sep

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    Sep

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    Dec

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    May

VRX Valeant

07/28/17
WELS
07/28/17
NO CHANGE
Target $9
WELS
Underperform
Insurers are dropping Valeant's top products, says Wells Fargo
United Healthcare's (UNH) formulary is no longer covering Valeant Pharmaceuticals' (VRX) number three branded drug Solodyn and will also now exclude Retin-A brand, its number four branded drug, Wells Fargo analyst David Maris tells investors in a research note. The analyst estimates the two drugs represented approximately $214M of Valeant's sales in 2016. Maris also points out that Glumetza, Valeant's number eight branded drug, and Relistor were removed in July from CVS/Caremark's (CVS) formulary. These two drugs had approximately $119M in 2016 revenues. Maris notes his counterpart Peter Costa estimates that United Healthcare covers approximately 17% of the U.S. and CVS covers approximately 33%. Express Scripts (ESRX) is releasing its 2018 national formulary next week, Costa adds. Maris keeps an Underperform rating on shares of Valeant with a $9 price target. The stock in premarket trading is down 33c, or 2%, to $16.80.
07/27/17
WELS
07/27/17
NO CHANGE
WELS
Underperform
Doctors not optimistic about Valeant's Siliq, says Wells Fargo
Wells Fargo analyst David Maris says the dozens of doctors he spoke to about Valeant Pharmaceuticals' Siliq are not optimistic. Over 50% of the physicians surveyed said they would use Siliq only as a fourth line therapy or later, Maris tells investors in a research note after Valeant announced the launch of the moderate-to-severe plaque psoriasis treatment. The analyst disagrees with Valeant management's claims that Siliq has "very large peak sales potential." The injection carries a warning about risk of suicide and Valeant will be competing against a large number of peers with greater resources, Maris argues. The analyst has an Underperform rating on Valeant shares, which are down 18c to $17.59 in midday trading.
07/14/17
WELS
07/14/17
NO CHANGE
WELS
Underperform
J&J approval another negative for Valeant, says Wells Fargo
Wells Fargo analyst David Maris says Valeant Pharmaceuticals (VRX) has a new competitor in the psoriasis space after the FDA yesterday approved Tremfya from Johnson & Johnson (JNJ). The news is another negative for Valeant, which is about to launch its own psoriasis treatment, Siliq, in the second half of 2017, Maris tells investors in a research note. With Talz from Eli Lilly (LLY), Humira from AbbVie (ABBV), Cosentyx from Novartis (NVS) and now J&J as a new competitor, Valeant is unlikely to be competitive in the psoriasis market, Maris contends. He believes his peak sales estimate of $250M for Siliq may prove optimistic given the competition. Maris an Underperform rating on Valeant with a $9 price target. The drugmaker closed yesterday at $17.29.
07/17/17
WELS
07/17/17
NO CHANGE
WELS
Underperform
Wells says Valeant selling Obagi for less than half of price paid in 2013
After Valeant announced it has agreed to sell its Obagi Medical Products business for $190M in cash, Wells Fargo analyst David Maris noted that this sale price is less than half of the $437M that the company paid to acquire Obagi in April 2013. While Valeant continues to make progress toward its asset sales and debt reduction targets, Maris does not believe that its recent divestitures have had a significant deleveraging impact. He keeps an Underperform rating on Valeant shares.
ESRX Express Scripts
$62.90

0.57 (0.91%)

06/13/17
WELS
06/13/17
NO CHANGE
Target $83.5
WELS
Outperform
Wells says Mallinckrodt exploring all options, including going private
After hosting CEO Mark Trudeau for an open Q&A session, Wells Fargo analyst David Maris says Mallinckrodt (MNK) continues to look at a range of strategic options to deliver shareholder value, and that all options, including going private, are on the table. Management did an "excellent job" in correcting the record following "erroneous" short-seller presentations, Maris tells investors in a research note. Management detailed Mallinckrodt's relationship with Express Scripts (ESRX) and explained that it is not strained, Maris writes. The analyst notes Trudeau spoke with Express Scripts CEO Timothy Wentworth a week ago about the relationship and that it seems "solid and mutually positive," despite recent negative comments about Acthar from the pharmacy benefit manager's Chief Medical Officer. Maris has an Outperform rating on Mallinckrodt with an $83.50 price target. The stock in premarket trading is up 2% to $42.40 as social media passes around Wells Fargo's comments about the company exploring all options, including going private. As the Wall Street Journal's Charley Grant points out on Twitter, Mallinckrodt said last month at a conference that it is exploring options to drive shareholder value.
06/27/17
BARD
06/27/17
NO CHANGE
Target $20
BARD
Outperform
Diplomat Pharmacy and entire supply chain have reimbursement risk, says Baird
Baird analyst Eric Coldwell noted Diplomat Pharmacy (DPLO) shares were lower yesterday based on a competitor's research note that suggested Express Scripts (ESRX) was cutting reimbursement in certain commercial plans and is kicking the tires on a DIR rollout in Part D. The analyst believes that would be not only negative for Diplomat but for all in the supply chain. The fact that others were not hit as hard is confusing to Coldwell, but he hopes for clarification from the company's IR day tomorrow. Coldwell maintained his Outperform rating and $20 price target on Diplomat Pharmacy shares.
06/26/17
COWN
06/26/17
NO CHANGE
Target $17
COWN
Market Perform
Diplomat shares 'overreacting' to potential DIR fee pressure, says Cowen
Cowen analyst Charles Rhyee noted his prior observation following meetings with Express Scripts (ESRX) that the company plans to be more aggressive with DIR fees. However, he estimates a maximum potential downside of $1.36 per Diplomat Pharmacy (DPLO) share in such a scenario, or a bit over 7% of Friday's closing price, making today's pullback an overreaction in his view. He keeps a Market Perform rating and $17 price target on Diplomat shares, which remain down about 8.5% at $16.82 but are well off their earlier lows.
AMGN Amgen
$174.54

2.39 (1.39%)

07/18/17
PIPR
07/18/17
NO CHANGE
Target $14
PIPR
Overweight
Piper says Array deal with Amgen 'another example' of successful partnering
Commenting on Array Biopharma's (ARRY) announcement of a preclinical autoimmune partnership deal with Amgen (AMGN), Piper Jaffray analyst Edward Tenthoff called the agreement "yet another example of Array successfully partnering its discoveries" and raising non-dilutive capital. Tenthoff keeps an Overweight rating and $14 price target on Array Biopharma shares.
07/26/17
OPCO
07/26/17
NO CHANGE
Target $203
OPCO
Outperform
Amgen price target raised to $203 from $189 at Oppenheimer
Oppenheimer analyst Leah Rush Cann raised her price target for Amgen to $203 from $189 after the company reported "strong" Q2 results. The analyst reiterates an Outperform rating on the shares.
07/26/17
BMOC
07/26/17
DOWNGRADE
BMOC
Market Perform
Amgen downgraded on valuation lack of near-term catalysts at BMO Capital
As noted earlier, BMO Capital downgraded Amgen to Market Perform from Outperform. Analyst M. Ian Somaiya downgraded the stock based on valuation and his belief that American College of Cardiology guidelines probably won't be updated until late 2018, likely preventing a positive turning point in Repatha sales until 2019. Target $199.
07/26/17
BMOC
07/26/17
DOWNGRADE
BMOC
Market Perform
Amgen downgraded to Market Perform from Outperform at BMO Capital
LLY Eli Lilly

07/26/17
07/26/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AMD (AMD) downgraded to Market Perform from Outperform at BMO Capital. 2. Zoetis (ZTS) downgraded to Hold from Buy at Deutsche Bank with analyst Gregg Gilbert saying the risk/reward is more balanced with the shares up 18% year-to-date. 3. CF Industries (CF) downgraded to Neutral from Outperform at Credit Suisse with analyst Christopher Parkinson citing the recent rally in shares. 4. Eli Lilly (LLY) downgraded to Market Perform from Outperform at Leerink with analyst Seamus Fernandez saying that the regulatory update for Olumiant removes upside optionality in rheumatoid arthritis and possibly other indications given concerns over thrombosis risk. 5. Wynn Resorts (WYNN) was downgraded to Hold from Buy at Union Gaming and to Market Perform from Outperform at Telsey Advisory. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/26/17
07/26/17
DOWNGRADE
Target $90

Market Perform
Eli Lilly downgraded to Market Perform at Leerink
As previously reported, Leerink analyst Seamus Fernandez downgraded Eli Lilly to Market Perform from Outperform, citing intense competition and saying that the regulatory update for Olumiant removes upside optionality in rheumatoid arthritis and possibly other indications given concerns over thrombosis risk. The analyst also lowered his price target on the shares to $90 from $93.
07/25/17
COWN
07/25/17
NO CHANGE
Target $95
COWN
Outperform
Eli Lilly delay for baricitinib 'a cloud' over Q2 report, says Cowen
Cowen analyst Steve Scala said that Eli Lilly's Q2 revenue and EPS beat was driven by "solid sales" across most of its key products and he raised his 2017 estimate by a nickel to $4.15 after the company raised its own forecasts for 2017 earnings and sales. However, he called the delay in the resubmission of the NDA for baricitinib for RA a "disappointment" and "a cloud" amid the earnings report. Scala has an Outperform rating and $95 price target on Lilly shares.
07/26/17
LEER
07/26/17
DOWNGRADE
LEER
Market Perform
Eli Lilly downgraded to Market Perform from Outperform at Leerink

TODAY'S FREE FLY STORIES

SECO

Seeco Holding

$8.34

0.14 (1.71%)

04:55
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04:55
Conference/Events
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BASFY

BASF

$27.39

-0.13 (-0.47%)

04:55
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BASF management to meet with Evercore ISI »

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RBS

RBS

$7.30

-0.04 (-0.54%)

04:55
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RBS management to meet with Jefferies »

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L

Loews

$49.36

-0.02 (-0.04%)

, GE

General Electric

$18.15

0.32 (1.79%)

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Loews CEO James Tisch buys 3M shares of General Electric »

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Loews

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General Electric

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0.32 (1.79%)

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BRFS

BRF S.A.

$12.77

-0.16 (-1.24%)

18:06
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SU

Suncor

$35.42

0.2 (0.57%)

18:02
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18:02
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Suncor closes sale of equity interest in East Tan Farm, redeems $750M in debt »

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SAP

SAP

$113.85

-1.44 (-1.25%)

17:53
11/22/17
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17:53
Periodicals
SAP launches investigation of sales practices in Gulf region, Reuters reports »

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FB

Facebook

$180.87

-0.99 (-0.54%)

17:47
11/22/17
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17:47
Periodicals
Facebook tool to show users which content was Russian propaganda, says Bloomberg »

Facebook will add a tool…

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CSX

CSX

$51.01

0.79 (1.57%)

17:24
11/22/17
11/22
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17:24
Periodicals
CSX to charge more fees on customers that disregard shipping rules, Reuters says »

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AYTU

Aytu BioScience

$3.03

0.4301 (16.54%)

17:10
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17:10
Syndicate
Breaking Syndicate news story on Aytu BioScience »

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EPIX

ESSA Pharma

$0.27

0.0059 (2.27%)

17:09
11/22/17
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MRDN

Meridian Waste Solutions

$1.69

0.0101 (0.60%)

16:55
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Syndicate
Breaking Syndicate news story on Meridian Waste Solutions »

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APD

Air Products

$161.62

-0.67 (-0.41%)

16:50
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Syndicate
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BOOT

Boot Barn

$13.49

-0.23 (-1.68%)

16:49
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SD

SandRidge Energy

$17.50

0.88 (5.29%)

, BCEI

Bonanza Creek

$32.14

0.46 (1.45%)

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$17.50

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BCEI

Bonanza Creek

$32.14

0.46 (1.45%)

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SandRidge Energy

$17.50

0.88 (5.29%)

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SYMC

Symantec

$28.43

0.32 (1.14%)

, AMZN

Amazon.com

$1,156.16

16.67 (1.46%)

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Symantec

$28.43

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AMZN

Amazon.com

$1,156.16

16.67 (1.46%)

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16:30
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Options
Preliminary option volume of 13.6M today »

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AMZN

Amazon.com

$1,156.16

16.67 (1.46%)

16:26
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  • 18

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NRIM

Northrim BanCorp

$34.75

-0.25 (-0.71%)

16:22
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AMZN

Amazon.com

$1,156.16

16.67 (1.46%)

, CERN

Cerner

$70.03

3.35 (5.02%)

16:21
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AMZN

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$70.03

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HPE

HP Enterprise

$13.10

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HPQ

HP Inc.

$21.34

-1.12 (-4.99%)

DE

Deere

$145.25

6.02 (4.32%)

ROK

Rockwell Automation

$191.02

-2 (-1.04%)

EMR

Emerson

$61.88

1.53 (2.54%)

AKZOY

AkzoNobel

$31.04

0.475 (1.55%)

AXTA

Axalta Coating

$35.50

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GME

GameStop

$17.37

0.64 (3.83%)

GES

Guess

$15.62

-2.33 (-12.98%)

IRBT

iRobot

$68.50

-4.57 (-6.25%)

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