NEW YORK, May 1, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Allergan Inc. (NYSE: AGN), Amgen Inc. (NASDAQ: AMGN), Furiex Pharmaceuticals Inc. (NASDAQ: FURX), Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) and Alexion Pharmaceuticals Inc. (NASDAQ: ALXN). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/1902-100free.
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Allergan Inc. Analyst Notes
On April 29, 2014, Bloomberg reported that Allergan Inc. (Allergan) has contacted companies including Sanofi and Johnson & Johnson (JNJ), hoping to strike a merger deal with a larger rival firm than the Valeant Pharmaceuticals (Valeant) which recently made a hostile buyout offer backed by Bill Ackman. According to the report, Allergan is holding early-stage discussions with both Sanofi and JNJ while it decides whether to seek an alternative to Valeant's offer. Valeant proposed to combine with Allergan for $48.30 in cash and 0.83 shares of Valeant Stock for each Allergan Share. The full analyst notes on Allergan are available to download free of charge at:
http://www.analystsreview.com/1902-AGN-01May2014.pdf
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Amgen Inc. Analyst Notes
On April 22, 2014, Amgen Inc. (Amgen) released its Q1 2014 earnings results. The Company reported Q1 2014 total revenues of $4.52 billion, up 6.7% YoY but missing the average analyst estimate of $4.75 billion as compiled by Bloomberg. The Company reported 4.9% YoY growth in product sales during the quarter, driven by robust sales of Kyprolis (carfilzomib), XGEVA (denosumab), Prolia (denosumab) and Neulasta (pegfilgrastim), partially offset by lower Enbrel sales. The Company's Q1 2014 net income came in at $1.1 billion, or $1.40 per diluted share (versus Bloomberg estimate of $1.94), compared to net income of $1.4 billion or $1.88 per diluted share in Q1 2013. For full-year 2014, the Company expects total revenue in the range of $19.2 billion to $19.6 billion and adjusted EPS to be in the range of $7.90 to $8.20. The full analyst notes on Amgen are available to download free of charge at:
http://www.analystsreview.com/1902-AMGN-01May2014.pdf
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Furiex Pharmaceuticals Inc. Analyst Notes
On April 28, 2014, Furiex Pharmaceuticals Inc. (Furiex) announced that it has agreed to be acquired by Forest Laboratories, Inc. (Forest) for $95 per share, or approximately $1.1 billion in cash, sending its stock as high as 30.46% in the intra-day trading that same day. Furiex informed that the agreement also includes payment of up to $30 per share as Contingent Value Right that may be payable based on the status of eluxadoline, Furiex's lead product, as a controlled drug following approval. The acquisition is expected to close in the second or third quarter of 2014 pending regulatory review and Furiex shareholder approval. Furiex also stated that the deal won't affect the timing of Actavis plc's previously announced acquisition of Forest. The full analyst notes on Furiex are available to download free of charge at:
http://www.analystsreview.com/1902-FURX-01May2014.pdf
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Teva Pharmaceutical Industries Ltd. Analyst Notes
On April 28, 2014, Teva Pharmaceutical Industries Ltd. (Teva) and OncoGenex Pharmaceuticals Inc. (OncoGenex) jointly announced the results from the Phase III SYNERGY trial, a randomized, open-label, two-arm study comparing the combination of custirsen and standard first-line docetaxel/prednisone therapy to docetaxel/prednisone alone in men with metastatic castrate-resistant prostate cancer (CRPC). According to the Company, the top-line survival results indicate the addition of custirsen to standard first-line docetaxel/prednisone therapy did not meet the primary endpoint of a statistically significant improvement in overall survival (OS) in men with metastatic CRPC, compared to docetaxel/prednisone alone (median survival 23.4 months vs 22.2 months, respectively; hazard ratio 0.93 and one-sided p-value 0.207). Michael Hayden, MD, President of Global R&D and Chief Scientific Officer at Teva, said, "We are disappointed with these results. Addressing treatment resistance is critical in the fight against cancer. We are working with OncoGenex to more fully understand these data." The full analyst notes on Teva are available to download free of charge at:
http://www.analystsreview.com/1902-TEVA-01May2014.pdf
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Alexion Pharmaceuticals Inc. Analyst Notes
On April 24, 2014, Alexion Pharmaceuticals Inc. (Alexion) released its Q1 2014 earnings results. The Company reported Q1 2014 net product sales of $566.6 million, up 67.2% YoY, surpassing Thomson Reuters' analyst consensus estimate of $560.2 million. The growth in the Company's quarterly product sales was helped by an agreement with the French government for Soliris® (eculizumab) under which the Company recorded $87.8 million of additional net product sales related to reimbursement for product shipments in prior years under this agreement. The Company's Q1 2014 net income stood at $159.4 million, or $0.79 per diluted share, compared to net income of $82.2 million, or $0.41 per diluted share, in Q1 2013. The Company's Q1 2014 non-GAAP diluted EPS came in at $1.53, beating the analyst's estimate of $1.26. For full-year 2014, the Company has revised its non-GAAP EPS guidance range to $4.75 to $4.85 from $4.37 to $4.47. The full analyst notes on Alexion are available to download free of charge at:
http://www.analystsreview.com/1902-ALXN-01May2014.pdf
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