Publication date: Jul 04, 2019
(Bloomberg) — Investors may be digesting a deal from Bristol-Myers Squibb Co. for Celgene Corp. and getting their teeth into AbbVie Inc. ‘s bid for Allergan Plc, but there are plenty of other large-cap biotechs and pharma still hungry for action.
Jefferies analyst Michael Yee found that the shares of half of all biotechs that didn’t get bought underperformed in the months that followed a new drug launch.
Further reading: Slow Start to 2019 M&A Gathers Force With June’s Flood of Deals Highlights from biotech calendars for the second half: Amgen: A court decision or settlement on Amgen’s dispute with Sandoz over patents for its top-selling arthritis drug Enbrel.
Amarin Corp. : A Food and Drug Administration decision on Sept. 28 to update the label for the heart pill Vascepa will be -the gatekeeper for M&A,” Roth analyst Yasmeen Rahimi said. AnaptysBio Inc: Investors are waiting for results for etokimab in atopic dermatitis; shares may rise up to 60% on positive results, JPMorgan analyst Anupam Rama predicted last month. Enanta Pharmaceuticals Inc: Initial results from a NASH study expected in the third quarter. Gilead Sciences: Results evaluating NASH combinations expected to readout in the fourth quarter and may determine the biotech’s direction in the liver disease after a recent failure. GlycoMimetics Inc: Results from a study of Pfizer Inc-partnered rivipansel for sickle-cell-related symptoms.
Pfizer called out the drug as a potential blockbusterMirati Therapeutics Inc: The stock has been breaking records since results from an Amgen study, viewed as a sign that Mirati’s cancer drug may work even better when the small-cap reveals clinical data. Sage Therapeutics Inc: Results in bipolar disorder patients with major depression will be closely watched by investors. Reata Pharmaceuticals Inc: Data from a study of bardoxolone in patients with Alport syndrome, and another study of omaveloxolone in Friedreich’s ataxia. WaVe Life Sciences Ltd: Two readouts expected for Wave, one in Duchenne muscular dystrophy and another in Huntington’s disease. Vertex: Approval for Vertex’s triple combination pill for cystic fibrosis expected this year, although that could slip into 2020, Young said.