For Immediate Release
Chicago, IL – April 07, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Gilead (GILD), Regeneron (REGN), Medivation (MDVN) and Intercept (ICPT).
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Here are highlights from Wednesday’s Analyst Blog:
Biotech Stock Roundup
Key highlights in the biotech sector this week include the FDA approval of Gilead’s ( GILD) third TAF-based HIV treatment as well as an acquisition announcement by the company. Meanwhile, Regeneron (REGN) could well have another blockbuster treatment in its portfolio with its experimental eczema treatment doing well in a couple of late-stage studies. And, once again acquisition rumors have surfaced – this time, Medivation (MDVN) is rumored to be a takeover target.
Recap of the Week’s Most Important Stories
1. Gilead gained FDA approval for yet another of its HIV treatments, Descovy. Descovy, which is considered to have blockbuster potential, is the third TAF-based HIV therapy in Gilead’s portfolio. While the FDA approval of Descovy is good news for the company, Gilead continues to work on expanding its pipeline.
The company said that it will be spending up to $1.2 billion to acquire Nimbus Apollo, Inc. and its acetyl-CoA carboxylase (ACC) inhibitor program. With this acquisition, Gilead will be gaining an ACC inhibitor being developed for the treatment of non-alcoholic steatohepatitis (NASH), a serious liver disease (Read more: Gilead Descovy Wins FDA Nod, To Buy Nimbus Liver Program ).
2. Regeneron and Sanofi’s experimental eczema treatment, dupilumab, met the primary endpoints in a couple of late-stage studies. Plans are on to submit regulatory applications in the third quarter of the year. If approved, the drug could bring in blockbuster sales (Read more: Regeneron, Sanofi Up, Eczema Drug Tops Phase III Studies ).
3. Medivation’s shares, which had declined on pricing concerns regarding its prostate cancer drug Xtandi (Read more: Medivation Prostate Cancer Drug Xtandi under Pricing Attack ), saw its shares rebounding on acquisition rumors. With Xtandi bringing in multi-million dollar sales and being developed for additional indications, Medivation has often been considered an acquisition target.
4. Intercept’s (ICPT) shares are up on briefing documents released ahead of an FDA advisory panel meeting to be held on Apr 7 for the company’s obeticholic acid (OCA). Intercept is seeking FDA approval for the treatment of primary biliary cirrhosis (PBC) in combination with ursodeoxycholic acid (UDCA) in adults with an inadequate response to UDCA, or as monotherapy in patients unable to tolerate UDCA.