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GSK to open Boston office to keep an eye on local biotechs
(and will stop paying docs to promote)
http://www.bostonglobe.com/business/2014/09/18/glaxosmithkline-opening-cambridge-office-will-stop-paying-doctors-promote-its-medicines/vgjukJGamzRyc6M0XAQuUJ/story.html?p1=Article_InThisSection_Bottom
And just for balance, GSK will pay pay $500 million to China because of bribery activities (I'm sure that would not go on in the US) --
http://www.nytimes.com/2014/09/20/business/international/china-fines-glaxo-glaxosmithkline-nearly-500-million-in-bribery-case.html?hp&action=click&pgtype=Homepage&version=HpSum&module=second-column-region®ion=top-news&WT.nav=top-news&_r=0
Schlesinger and Denner sat together and they were seated away from the rest of the BOD at the annual meeting. They are buying at the same time and Harvey makes three.
Just sayin'.
An interview with Dr. Carl June about CAR-T cells and leukemia and other cancers..
http://www.investorvillage.com/smbd.asp?mb=1933&mn=67109&pt=msg&mid=14140795
Ariad's involvement in this area is through its link with Bellicum.
I think the two are on the same page.
Agree with Rum.. all bullish.
On Saturday I posted this and with today's filing, it is worth repeating..
"Remember when HB spent 3 MM dollars in the open market and what followed?
Now Denner's group just spent 5MM in the open market. Do you need to be hit on the head with a hammer?"
Denner is calling the shots. I think the price will run for a few months and there will be a b/o before the end of the year.
Of course, I've been wrong before.
Will FDA open an investigation of NVS's reporting?
It just takes one whistle-blower.
If reporting fraud is found, what legal consequences flow for Ariad? What are the legal damages?... lost sales, trials design based on wrong assumptions etc.
NVS has been in court many times. Cost of doing business I guess.
Remember when HB spent 3 MM dollars in the open market and what followed?
Now Denner's group just spent 5MM in the open market. Do you need to be hit on the head with a hammer?
biotech space in boston is a hot market..
http://www.fiercebiotech.com/story/report-big-split-baxter-looks-relocate-biopharma-boston/2014-08-28
Bellicum uses an Ariad drug as an on/off switch in its car-t therapy.
Here's a buy hype for a recently hot oncology company -- KITE.
It explains the powerful results of Car-t therapy and note the warnings about side effects/toxicity. The Bellicum/Ariad approach is designed to avoid those issues.
http://www.investorvillage.com/smbd.asp?mb=16353&mn=7565&pt=msg&mid=14125776
Note the numerous 100 share trades in pre-market.
http://www.nasdaq.com/symbol/aria/premarket
Just mms playing games, IMO.
Ariad had a problem. It had leased too much space. Problem solved with a sub-lease. Non-event.
ariad a 10% owner of bellicum
One of the reasons (after the tax issue) that Pfizer wanted AstraZ was AZN's oncology pipeline. Ergo, some logic in Pfizer looking at Ariad... though my guess is that we are too small for Pfizer's appetite.
Roche paid $8.3B in cash for InterMune. ITMN has an early stage pipeline in pulmonology and fibrotic diseases. Their lead drug has been approved in EU and Canada and had $35M in sales in the recent quarter. Their NDA for the US has not been filed yet with the FDA.
Valuations can be all over the place in biotech.
Please note that I prefaced my first-line preference with --
"If the safety issue is overcome".
Presumably, once that happens, the label would be widened and oncologists would be more inclined to front line use.
"There are distortions in the market now that really bare watching"
OK, I'll take my clothes off and stay alert.
"...it would emphasize that doctors should use the most powerful TKI first, rather than use a weak one and later switch to a stronger one."
If the safety issue is overcome ---- and it seems to be so far -- then I think this point is important. If I had the disease, it would certainly be what I would want. It strikes me as malpractice to make a patient go through a series of relapses before pona.
I'm accepting contributions for the AF Defense Fund.
Link?
thanks
The business press can not write enough about Pfizer's need for pipeline.
http://finance.yahoo.com/news/pfizers-deal-looms-larger-earnings-053649219.html
This is an on-going story in the industry.
http://www.fool.com/investing/general/2014/07/24/pfizers-incoming-patent-cliff.aspx
Pfizer is not the only BP looking at quickly diminishing revenues. They are hungry for pipeline... and, of course Ariad certainly has pipeline.
This is why Yellen has no idea what she is talking about. Biotech is still very undervalued and I predict the pace of buyouts and mergers will increase substantially in the next year or two.
If I need advice on interest rates, I'll look to Yellen. Biotechs, not so much.
2da --
Indeed, what oncologist would not opt to avoid mutations? It is the key.
I can't find a prior post from someone who has noted that AEs related to blood clots have dropped to zero since Ariad started better screening. If that is the case, pona should certainly be a front line candidate. You can see why Denner loves Iclusig. Add in off-label stuff, other applications etc.and we might have a real drug here.
Anti-tax inversion legislation will make Ariad a more attractive target.
CAR-T is the hottest new direction for cancer treatment. However, it comes with all sorts of nasty side effects. Therefore pharmas are looking for an on/off switch to keep it attacking the cancer only.
Ziopharm and Intrexon have an oar in the water.
http://www.investorvillage.com/smbd.asp?mb=16353&mn=7167&pt=msg&mid=14027003
Ariad and Bellicum are also in the game.
http://www.bellicum.com/press-releases/first-cancer-trial-launched-using-car-t-cells-engineered-with-bellicums-safety-switch/
This treatment is still years away. But, it is in hot demand and certainly would contribute to making Ariad a more attractive buyout.
There may be a recognition in the biotech investing community that Yellen's dis of biotechs was way off base, that she is completely out of her depth in this area and that the sell-off that she caused was not justified. In fact the truth may be that biotechs are way undervalued.
http://www.investorvillage.com/smbd.asp?mb=16353&mn=7151&pt=msg&mid=14022448
George Scanos on CNBC....""This is an amazing period that we are in right now in that the science and the medicine are advancing so quickly - look good drugs come from understanding of biology - so its really an understanding of the disease mechanisms that are important .....allows targeting of therapies today at a higher degree of success"
Buyouts are going to accelerate. Don't minimize the Bellicum news. Everyone wants a foot in on CAR-T. Ariad owns 10% of Bellicum.
Yes, the public announcement will be in Oct. But, someone may already be privy to their thinking.
Inside information. It would not be the first time.
Would Iclusig provide a 33% increase in disease free survival vs placebo?
Some TKIs have all the luck.
http://finance.yahoo.com/news/puma-bio-rips-more-100-213055435.html
Thanks Stockseek. That report pretty much summarizes why we are all still here, including Denner.
Second.
Rum -- Like your thinking on the Rights Agreement.
BR -- aside from Denner, I could not tell if there were institutional reps there. Seemed to be about half a dozen shareholders and the rest Ariad staff/officers. Of course I would be unable to recognize instis in any case.
Attended the meeting this morning. Some random takeaways..
Management is open to partnering, but not excited about a buyout.
GIST will be a significant income stream in terms of number of patients but because it is so aggressive patients don't live long enough to stay on the medication very long. Brain mets treatable, are key. GIST likely the next registration.
Dr. Denner - he is in it for Iclusig. Iclusig is not the least toxic, but the percentage difference from other TKIs is not very significant. What is significant is that Iclusig is much more effective. Strategy is clearly to move Iclusig up to 2nd line and perhaps eventually front line. He was impressed that the pressure to reverse the FDA ruling came from oncologists. Denner is young and bright and personable..most importantly he is on the board as an investor.
10-b-5 plan adopted for key employees to make periodic purchases. Dr. B to buy 150,000 shares and he mentioned another officer who is buying 15,000.
Japan partnership is front burner now. They have multiple Japanese pharmas interested. Whether the deal will include other areas of Asia (perhaps Korea, Taiwan... but definitely not China)will depend on how large a pharma they eventually partner with. It will definitely include a sizable up-front payment. The Japanese CML market is second in size only to the US. Novartis bad behavior in Japan was front page news in Tokyo and should help us with this partnership. No timetable, but I have to guess it is not far off.
Ariad is definitely aware of the developments in immune oncology. They feel they may have a significant role to play in this field. Watch for news from Bellicum (their switch for CAR-T cells employs Ariad drug) in which Ariad has a 10% interest.
Value driver. The new label approval is expected shortly in Europe and this will allow Ariad to finalize pricing etc. This will accelerate European income stream.
No one raised the issue of possible illegal activity by GS, NVS et al. (Damn)
All the officers looked a little worn down from the roller coaster of the last year. Clearly everyone has been working long hours to get Ariad back on track.
I'm out of my depth here. But clearly something is going on. The Annual Meeting could involve a battle.
From 8k this morning..
On June 18, 2014, ARIAD Pharmaceuticals, Inc. (the "Company") sent a letter to Institutional Shareholder Services ("ISS") requesting that ISS reconsider its recommendation that the Company's stockholders vote against the following proposals in the Company's proxy statement for its 2014 annual meeting to be held on June 25, 2014, and providing additional information regarding these proposals: (i) the approval of the Company's Section 382 rights agreement,
(ii) the approval of the Company's 2014 Long-Term Incentive Plan, and (iii) the approval, on an advisory basis, of the compensation of the Company's named executive officers as disclosed in the proxy statement. A copy of the letter is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 8.01 of this Current Report on Form 8-K.
Not sure of the name. It is across the street from Ariad.
The garage parking is free if you get your ticket stamped by Ariad at the meeting. The muffins and coffee are also free.
I wonder if a meeting will ever include champagne and caviar.
Maybe the company that makes the calls gets paid by the call.
If you assume that Ariad has identified and is well along with a Japanese partner, might that partner be active in sleuthing out and reporting the Novartis misbehavior in Japan? Certainly it would boost the partner's eventual sales effort.
I would file this under "Revenge of the Harv".
Indeed, the trial design would have been different. I wonder if this rises to the level of a legal cause of action for Ariad as well as Ariad's patients in their trials.
And if Gleevec has to be re-labeled, what might that mean for pona as 1st line?
Can't wait to read AF's comments on this Novartis development..
http://blogs.wsj.com/pharmalot/2014/06/10/how-many-novartis-says-10000-side-effect-cases-were-never-filed/?mod=wsj_valettop_email&mod=wsj_valettop_email