Analyst Issues 5 Potential Biotech Buyout Candidates and more

We have said it before, and we will stress it once again, one of the best ways for big pharmaceuticals and biotech companies to grow is through acquisitions. In a new report, Cowen sees the potential for super-mergers and a large group of smaller targets that may be in the sights of bigger companies now. The Cowen team has gone through the biotech sector and pinpointed various companies with specialty drugs and treatments. We screened the list for one top company in each category that could be buyout candidates, and also ones that are rated Outperform at Cowen.  Read more

Medtronic Evera MRI ICD Clinical Study Meets Safety and Efficacy Endpoints

(Thomson Reuters ONE via COMTEX) — Late-Breaking Session at Heart Rhythm 2015 Features World’s First Randomized Study of an MRI-Conditional Implantable Cardioverter Defibrillator Undergoing Full-Body MRI Scans; Study Simultaneously Published in JACC

DUBLIN and BOSTON – May 14, 2015 – Medtronic plc MDT, +0.21% today announced clinical trial results for the Medtronic Evera MRI(TM) SureScan(R) implantable cardioverter defibrillator (ICD) following MRI scans. The study showed that full-body magnetic resonance imaging (MRI) scans do not affect the Evera MRI ICD’s ability to detect potentially lethal heart rhythms and deliver life-saving therapy. Data were presented during a late-breaking clinical trial session at Heart Rhythm 2015, the Heart Rhythm Society’s 36th Annual Scientific Sessions and published simultaneously in the Journal of the American College of Cardiology (JACC). Read More

ResMed plunges on clinical trial

Investors have dumped ResMed stock after the sleep-treatment device manufacturer found that one of its devices increased the risk of death for patients in a trial.

The health group (RMD) had sought a trial to find out whether its adaptive servo-ventilation therapy could aid people with chronic heart failure and sleep apnea, however, the study found that the therapy increased the risk of mortality.

Investors sold off the stock heavily on the news, sending ResMed shares on their worst plunge in 13 years. By 10.30am (AEST), the stock had fallen 17.21 per cent to $6.82 against a benchmark index fall of 0.6 per cent.

Overnight, ResMed’s US-listed stock dropped 15 per cent. Bank of America downgraded its rating on the shares to “neutral” down from “buy”, while Citi cut its rating to “sell” from “buy”.

ResMed said a preliminary analysis of the data from the trial showed a “statistically significant” 2.5 per cent increased risk of cardiovascular mortality for the patients who received the group’s servo-ventilation therapy compared with those in a control group.

Based on the data, ResMed said it was working with global regulators to revise the labels and instructions on its devices.

The group said revenue from these ASV flow generators counted for less than 7 per cent of its total revenue over the 12 months to March.

ResMed said it was expecting to incur costs associated with the safety notification, and would book the costs in its fourth-quarter financial results.

Time To Ring The Register On These Hot Biotech Plays – Array Biopharma (ARRY), Dyax (DYAX), Ariad Pharmaceuticals (ARIA), Agenus (AGEN)

Array Biopharma Inc (NASDAQ:ARRY) fell -2.70% to close last trading session at $7.21. The company, on May 07, 2015, released that its Chief Executive Officer, Ron Squarer, will present at the Bank of America Merrill Lynch Healthcare Conference in Las Vegas on Thursday, May 14, 2015 at12:00 p.m. PDT and the UBS Global Healthcare Conference in New York City on Tuesday, May 19, 2015 at 8:30 a.m. EDT.  The public is welcome to participate in the conferences through webcasts on the Array BioPharma website:  investor.arraybiopharma.com. Read More

 

 

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