Earnings Results, Acquisitions, Drug Designations, Dividend Authorizations, and Licensing Agreements - Analyst Notes on AstraZeneca, Furiex, GW, Techne and Agenus Editor Note: For more information about this release, please scroll to bottom.
NEW YORK, May 5, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding AstraZeneca PLC (NYSE: AZN), Furiex Pharmaceuticals, Inc. (NASDAQ: FURX), GW Pharmaceuticals plc (NASDAQ: GWPH), Techne Corp. (NASDAQ: TECH) and Agenus Inc. (NASDAQ: AGEN). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/1869-100free.
AstraZeneca PLC Analyst Notes
On April 24, 2014, AstraZeneca PLC (AstraZeneca) reported its Q1 2014 financial results with core revenue of $6.41 billion compared with $6.39 billion in Q1 2013. Core EPS was $1.17, down 11% YoY (based on constant exchange rates), primarily due to investment in the Company's key growth platforms and rapidly progressing pipeline. Pascal Soriot, CEO, commented, "The first quarter has seen continued momentum across the business and our revenue growth reflects the increasing contribution from the five growth platforms that showed strong performance." He continued, "We are investing in our rapidly progressing pipeline and the key platforms that are the backbone of our strategy to return to growth. To further concentrate organisational focus, we will continue to redeploy our resources in our core priorities and pursue opportunities that maximise the value of our pipeline and portfolio." The full analyst notes on AstraZeneca are available to download free of charge at:
Furiex Pharmaceuticals, Inc. Analyst Notes
On April 28, 2014, Furiex Pharmaceuticals, Inc. (Furiex) announced that it has entered into a definitive agreement with Forest Laboratories (Forest) in which Forest will acquire Furiex for $95 per share or $1.1 billion in cash and up to $30 per share (c.$360 million in aggregate) in a Contingent Value Right that may be payable based on the status of Furiex's lead product -eluxadoline. Fred Eshelman, founding Chairman of Furiex, said, "I am very proud of our team for its hard work and excellent development of eluxadoline in just under four years. There is a strong business fit between Furiex and Forest, and eluxadoline is expected to contribute to Forest's leading GI franchise." According to the Company, the acquisition is expected to close in the Q2 2014 or Q3 2014 subject to regulatory review and Furiex shareholder approval. The full analyst notes on Furiex are available to download free of charge at:
GW Pharmaceuticals plc Analyst Notes
On April 28, 2014, GW Pharmaceuticals plc (GW) announced that the U.S. Food and Drug Administration (FDA) has granted the Company a Fast Track designation for Sativex. According to the Company, Sativex is for the treatment of pain in patients with advanced cancer, who experience inadequate analgesia during optimized chronic opioid therapy. Justin Gover, GW's CEO said, "Sativex is the only non-opioid treatment currently in Phase 3 development for patients who do not respond to, or experience negative side effects with opioid medications. We are fully committed to delivering the first FDA-approved cannabinoid medicine for these patients who currently have nowhere else to turn." The Company stated that a drug program with Fast Track status is afforded greater access to the FDA for the purpose of expediting the drug's development, review and potential approval. The full analyst notes on GW are available to download free of charge at:
Techne Corp. Analyst Notes
On April 28, 2014, Techne Corp. (Techne) announced that its Board of Directors has authorized and declared a quarterly dividend in the amount of $0.31 per share for the quarter ended March 31, 2014. According to the Company, the dividend is payable on May 23, 2014 to all common shareholders of record on May 9, 2014. The full analyst notes on Techne are available to download free of charge at:
Agenus Inc. Analyst Notes
On April 28, 2014, Agenus Inc. (Agenus) announced that it has entered into a collaboration and license agreement with Merck for the discovery and development of therapeutic antibodies to immune checkpoints for the treatment of cancer. Under the terms of the agreement, Agenus will discover and optimize fully human antibodies against two undisclosed Merck checkpoint targets using the 4-Antibody Retrocyte Display® platform. Merck added that it will be responsible for clinical development and commercialization of candidates generated under the collaboration. "We are delighted to be working with Merck, who is a leader in the rapidly developing immuno-oncology space," said Bob Stein, MD, PhD, Chief Scientific Officer of Agenus "We believe our Retrocyte Display technology has significant advantages for creation of high quality antibody development candidates. This collaboration broadens our efforts in immuno-oncology beyond our previously disclosed checkpoint programs with a world-class research and development partner." The full analyst notes on Agenus are available to download free of charge at:
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