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AMGN

Amgen

$185.48

1.79 (0.97%)

, MYL

Mylan

$38.48

-0.36 (-0.93%)

17:27
06/04/18
06/04
17:27
06/04/18
17:27

Amgen falls after Neulasta biosimilar approved by FDA, Mylan spikes higher

The U.S. Food and Drug Administration approved Fulphilaas, the first biosimilar to Amgen's (AMGN) Neulasta, to decrease the chance of infection as suggested by febrile neutropenia, in patients with non-myeloid cancer who are receiving myelosuppressive chemotherapy that has a clinically significant incidence of febrile neutropenia.The FDA granted approval of Fulphila to Mylan GmbH (MYL). Shares of Amgen are down almost 2% after the news of the FDA approving Fulphilaas, while shares of Mylan are up 5.4% in after-hours trading.

AMGN

Amgen

$185.48

1.79 (0.97%)

MYL

Mylan

$38.48

-0.36 (-0.93%)

  • 04

    Jun

  • 13

    Nov

AMGN Amgen
$185.48

1.79 (0.97%)

05/17/18
PIPR
05/17/18
NO CHANGE
Target $190
PIPR
Overweight
Amgen's Aimovig launch in migraine should beat expectations, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond kept his Overweight rating and $190 price target on Amgen (AMGN) after today's FDA approval of Aimovig in migraine. The analyst notes that this marks the first anti-CGRP therapy approval in what is expected to be a crowded space, adding that Amgen and its partner Novartis (NVS) have "effectively capitalized on their first-mover advantage." The analyst says the smart pricing for the product should allow this launch to "beat expectations".
05/18/18
WELS
05/18/18
NO CHANGE
WELS
Amgen migraine drug price may be below expectations, says Wells Fargo
The FDA, as expected, approved Amgen (AMGN) and Novartis' (NVS) first-in-class anti-CGRP treatment Aimovig for the prevention of migraine, Wells Fargo analyst David Maris tells investors in a research note. The only part of the news which may be somewhat unexpected could be the pricing, which came in at $575 per month or $6,900 annually, the analyst adds. He thinks some investors may have been expecting the price in the $12,000 range. Maris thinks there may be a potential negative read-through on the pricing for Teva (TEVA) and to a lesser extent, Allergan (AGN).
05/18/18
CANT
05/18/18
NO CHANGE
Target $18
CANT
Neutral
Amgen approval in migraine positive for Teva, says Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen thinks FDA approval of Amgen's (AMGN) Aimovig is positive for Teva (TEVA) as well as other new potential migraine treatments coming to the market because it underscores the large unmet need. She notes, however, that Teva does not expect approval until later this year given its manufacturing issues. The analyst keeps a Neutral rating on Teva with an $18 price target.
05/18/18
JEFF
05/18/18
NO CHANGE
Target $200
JEFF
Buy
Amgen price for Aimovig lower than expected, says Jefferies
Jefferies analyst Michael Yee says the confirmed list price of $6,900 for Amgen's (AMGN) Aimovig is lower than Street expectations of $7,000-$10,000. The analyst thinks the net price could fall to around $5,000-$6,000 as Allergan's (AGN) Botox is around $6,000. Amgen's pricing strategy sends a good message and fits well into the current reimbursement environment, Yee tells investors in a research note. He keeps a Buy rating on the shares with a $200 price target.
MYL Mylan
$38.48

-0.36 (-0.93%)

04/25/18
WELS
04/25/18
NO CHANGE
WELS
Market Perform
Glaxo comments on Advair have negative read through for Mylan, says Wells Fargo
Noting that GlaxoSmithKline (GSK) said it now expects branded Advair sales to decline 30% this year, even excluding the impact of a generic, Wells Fargo analyst David Maris said the news has a negative read through for Mylan (MYL) given that its generic Advair is one of the company's highest profile pipeline items. While Advair will be a good generic opportunity, it represents "a fraction of what some might have previously believed," said Maris, who has a Market Perform rating on Mylan shares.
05/15/18
MZHO
05/15/18
UPGRADE
Target $27
MZHO
Buy
Mizuho compares Valeant portfolio to Mylan in upgrade to Buy
Mizuho analyst Irina Koffler upgraded Valeant Pharmaceuticals (VRX) to Buy from Neutral and raised her price target for the shares to $27 from $15. The stock closed yesterday down 4c to $20.81. Adjusting individual product growth estimates has made the analyst more constructive on Valeant's turnaround story. The company's portfolio now looks Mylan-like (MYL) in that 70% of revenue consists of stable products that are either consumer-focused, or older drugs that are already generic, Koffler tells investors in a research note. Further, the analyst sees growth potential from Valeant's pipeline, which she notes contains multiple catalysts in 2018-2020 and is not in her estimates. She thinks that in order for the stock to work over the next year, Valeant just needs to execute on its quarters and push through new product launches.
05/18/18
BERN
05/18/18
NO CHANGE
Target $54
BERN
Outperform
Biocon 483 letter won't delay approval of Mylan's Neulasta, says Bernstein
Bernstein analyst Aaron Gal said that the 483 letter for Biocon's Bangalore facility contains seven observations, all related to cleaning procedures, and does not contain any argument of systemic or recurring problem, suggestions of any of the procedure deviations creating patient risk or problems requiring changes in the facility structure or equipment. In a research note to investors, Gal said the 483 is viewed as being on the "lighter side," and can be "reasonably" addressed through change in procedure, and does not believe it will delay the tentative approval of Biocon/Mylan's Neulasta. The analyst has an Outperform rating and $54 price target on Mylan.
05/23/18
JPMS
05/23/18
NO CHANGE
Target $53
JPMS
Overweight
Mylan risk/reward favorable into June catalysts, says JPMorgan
JPMorgan analyst Chris Schott sees a favorable setup and risk/reward for Mylan shares heading into June. His downside case, in which biosimilar Neulasta, generic Advair and generic Restasis do not get approved in 2018, supports earnings per share in the low $5 range and a stock that he struggles to see sustainably below the mid $30's. The analyst's upside case, which has some mix of Advair, Neulasta and Restasis approved, supports a share price "well above" $50. Looking beyond near-term catalysts, Schott believes Mylan is "very well-positioned" within the generics space. He keeps an Overweight rating on the shares with a $53 price target.

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Honda

$27.05

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MSFT

Microsoft

$107.60

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OII

Oceaneering

$25.69

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JOE

Saint Joe Co.

$15.28

0.01 (0.07%)

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PBR

Petrobras

$15.41

0.055 (0.36%)

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ADBE

Adobe

$238.05

-10.84 (-4.36%)

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GOOG

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$1.91

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RIO

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SYK

Stryker

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-1.66 (-0.97%)

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MDT

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