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Opko Health reports transfer of licensed rights to RAYALDEE in Japan to Vifor » 07:3205/2405/24/21
OPK, JAPAY, GNHAF
OPKO Health (OPK)…
OPKO Health (OPK) announced a transfer of the licensed rights to RAYALDEE in Japan from Japan Tobacco (JAPAY) to Vifor Fresenius Medical Care Renal Pharma (GNHAY). On May 17, 2021, JT notified OPKO of its decision to terminate the exclusive agreement with OPKO's subsidiary, EirGen Pharma, Ltd., for the development and commercialization of RAYALDEE in Japan based on a comprehensive review of its development pipeline. Concurrently with the termination of JT's rights, EirGen and VFMCRP have agreed to transfer the rights to RAYALDEE in Japan to VFMCRP by including Japan into the existing exclusive agreement between the two companies, executed on May 9, 2016, for the development and commercialization of RAYALDEE in Europe and certain other international markets for the treatment of secondary hyperparathyroidism in patients with chronic kidney disease and vitamin D insufficiency.
Biden bill would be 'severe blow' to tobacco, says Citi » 05:4504/2004/20/21
PM, MO, IMBBY, JAPAY
The Biden administration…
The Biden administration considering cutting almost all nicotine from cigarettes and banning menthol would be a "severe blow" to tobacco, Citi analyst Adam Spielman tells investors in a research note. However it is not yet clear that the administration will actually bring such proposals forward, says the analyst. In theory, a rule to make cigarettes non-addictive could have a "severe impact," but a bill would unlikely be implemented for many years, notes Spielman.
Last U.S. cigarette smoker like to quit by 2050, says Citi » 06:5903/1603/16/21
PM, BTI, MO, IMBBY, JAPAY
Citi analyst Adam…
Citi analyst Adam Spielman believes it is likely that the last cigarette smoker will have quit by 2050 in the U.S. and many other markets. However, not all markets look like this, the analyst points out. Reduced-risk products appear to have slowed or even halted the decline in some markets, Spielman tells investors in a research note. As such, the analyst thinks there is an "increasing gap opening up" between the companies leading the move to RRPs, namely Philip Morris (PM), British American Tobacco (BTI) and KT&G, and the others. Spielman thinks the tobacco shares are undervalued now. Tobacco valuations would be justified if their entire business was likely to expire in 2050, but their exposure to RRPs, and to traditional markets with slower declines, means this looks conservative, especially for companies gaining share with RRPs, says the analyst. Spielman re-emphasized Buy ratings on Philip Morris, British American Tobacco and KT&G, and downgraded Altria Group (MO) to Neutral from Buy. He keeps Neutral ratings on Imperial Brands (IMBBY) and Japan Tobacco (JAPAY).
Japan Tobacco downgraded to Neutral from Overweight at JPMorgan » 05:3303/1003/10/21
JPMorgan analyst Ritsuko…
JPMorgan analyst Ritsuko Tsunoda downgraded Japan Tobacco to Neutral from Overweight with a 2,100 yen price target.