News of Note - February 27, 2023
BULL BEAR BRES|NAHAN
Monday, February 27, 2023
Not sure how I feel about Pfizer taking out Seagen, though the groundwork was clearly laid for it last year (multiple ADC spinouts/ cullings, deals closed, immaculate balance sheet, etc.).. Bourla will have some “immediately accretive” gymnastics to do here, if this happens..
ADCs -> dropped HER2, Pyxis spin, Pyxis additional
ARRY -> talk of spinning them out
Deals -> all closed
Balance sheet -> LOL
Besides LOE window, competition in key assets is a bigger deal than is talked about, looking at you palbo, enza, tofa..
Now, this would run a bit ahead of the multiple they mentioned at the JPM Healthcare confab (2.6x) but maybe they’ve got much higher revenue projections for Seagen?
Not to be lost in this is that, of course, Seagen has an ARRY asset onboard X) haHA!
As always, other bits of the Pfizer story to consider beyond net cash and fcf..
CentreOne reports on its own now (wink/nod)
ViiV stake, 11.7%
Haleon stake, 32%
$1bn + of various equity (they likely don't sell these)
This wouldn't end deals in the least, firepower galore; though it is a relatively large swing.. I don't *hate* it completely..
AbbVie Receives Positive CHMP Opinion for Upadacitinib (RINVOQ®) for the Treatment of Adults with Moderate to Severe Crohn's Disease
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceuticals worldwide. -CapIQ
Presents Registrational Data from PIONEER Trial of AYVAKIT® (avapritinib) in Patients with Indolent Systemic Mastocytosis at 2023 AAAAI Annual Meeting
Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. -CapIQ
BRKA | BRKB
Berkshire Hathaway Inc., through its subsidiaries, engages in the insurance, freight rail transportation, and utility businesses worldwide. -CapIQ
Darolutamide receives approval for additional prostate cancer indication in Japan
Darolutamide approved for metastatic prostate cancer as well as non-metastatic castration-resistant prostate cancer
New approval is based on data from the pivotal Phase III ARASENS trial
cc: BAYN GY Bayer
Orion Oyj develops, manufactures, and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients (APIs) in Finland, Scandinavia, other European countries, North America, and internationally.
Announces Three Upcoming Presentations at the American College of Cardiology 72nd Annual Scientific Session
Title: 1560-153 - Aficamten in Patients with Symptomatic Non-Obstructive Hypertrophic Cardiomyopathy (REDWOOD-HCM Cohort 4)
Title: 1042-07 - Long-Term Efficacy and Safety of Aficamten in Patients with Symptomatic Obstructive Hypertrophic Cardiomyopathy
Title: 1279-169 - Applicability of the GALACTIC-HF Trial and Omecamtiv Mecarbil to Patients Hospitalized for Heart Failure in the United States: From the GWTG-HF Registry
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases.
Pfizer in Talks to Acquire Seagen in Deal Likely Valued at More Than $30 Billion
Potential deal would help the drug company add to its lineup of cancer treatments
Have we found the genetic signature for vasovagal syncope?
GSK Spinoff Haleon Explores Potential $600 Million Sale of ChapStick Brand
How to pull carbon dioxide out of seawater
A new method for removing the greenhouse gas from the ocean could be far more efficient than existing systems for removing it from the air.
Asymmetric chloride-mediated electrochemical process for CO2 removal from oceanwater