Biogen Idec (BIIB) reported second quarter 2014 earnings per share of $3.48 (including the impact of stock-based compensation expense), way above the Consensus Estimate of $2.80 and the year-ago earnings of $2.29 per share. While oral multiple sclerosis (MS) drug, Tecfidera contributed significantly to revenues, the company also benefited from the approval of an agreement with the Italian National Medicines Agency (AIFA) relating to Tysabri … Continue reading Biotech Stock News: Biogen’s Q2 Earnings leads to a Stock Rise

Amgen Inc(AMGN) shares were up 2.5% following the company’s announcement that AMG 416 (formerly known as velcalcetide) has met the primary as well as secondary endpoints in a randomized, double-blind, placebo-controlled 26-week long phase III study. The study evaluated the efficacy and safety of AMG 416 in 515 chronic kidney disease (CKD) patients receiving hemodialysis and suffering from secondary hyperparathyroidism. Results showed that patients on … Continue reading Top Biotech Stock: Amgen’s AMG 416 Succeeds in Phase III

InterMune, Inc. (ITMN ) received breakthrough therapy designation for its primary product, Esbriet (pirfenidone), from the FDA. InterMune is looking to get Esbriet approved in the U.S. for the treatment of adults suffering from idiopathic pulmonary fibrosis (IPF). Breakthrough therapy designation is a status provided to candidates that show superiority over existing therapies for the treatment of serious or life threatening diseases or conditions. The … Continue reading Biotech Stock To Buy: InterMune(ITMN) Gets Breakthrough Therapy Designation

AbbVie Inc and Shire have finally reached an agreement regarding the proposed acquisition of the latter by the former. As per the terms of the merger, AbbVie will pay approximately £53.19 per Shire share (£24.44 in cash and 0.8960 ordinary shares of the merged company for each Shire share). The deal is valued at £31.83 billion or approximately $54.5 billion. The agreed takeover price of … Continue reading Active Biotech Stock: AbbVie Set to Acquire UK-Based Shire in Q4

It was all about AbbVie (ABBV) this past week in the biotech sector with the company finally succeeding in its efforts to make Shire (SHPG) agree to its acquisition proposal. Other news making it to the headlines include encouraging data from Amgen’s (AMGN) pipeline and breakthrough therapy status for InterMune’s (ITMN – Snapshot) lung disease drug. Amgen’s shares were up 2.5% on positive data on … Continue reading Biotech Stock News: Spotlight on AbbVie & Amgen