Biotech Values

[DewDiligence]

ABT ReadMeFirst

[Updates:
2Q10 results;
valuation relative to other Big Pharma;
monetizing Solvay’s vaccine business;
revisiting the ACCORD study;
nuke-sparing HIV program;
ABT licenses NBIX’s Elagolix for endometriosis;
Daclizumab starts phase-3 in MS;
FDA approves improved HIV diagnostic.]


Finances, outlook, and valuation
#msg-51791410 Which are the most attractive Big Pharma? (Jun 2010)
#msg-53395171 2Q10 financial results
#msg-46843833 ABT hikes dividend for 38th consecutive year!
#msg-32844386 New $5B buyback authorization
#msg-51800455 Monetizing Solvay’s vaccine business
#msg-47606240 2010 guidance unchanged by Facet buyout
#msg-35632310 Feb 2009 feature in Barron’s


Acquisitions (in reverse chronological order)
#msg-50436738 Piramal
#msg-50473238 India’s fake drugs are a real problem
#msg-50438863 Further rationale for Piramal deal
#msg-50022514 Zydus Cadila
#msg-47606240 Facet Biotech
#msg-43510907 Anti-NGF mAb for pain
#msg-41922225 Solvay Pharmaceuticals
#msg-41374735 Evalve
#msg-41143330 Visiogen
#msg-34762429 Advanced Medical Optics (AGN spin-off)
#msg-34244326 Ibis Biosciences (former ISIS subsidiary)
#msg-14553895 Kos Pharmaceuticals
#msg-10772808 Guidant vascular business (PR)
#msg-9314269 Guidant vascular business (commentary)
#msg-34774636 Jan 2009 feature in WSJ


Cholesterol franchise (including JV with AZN)
#msg-43586320 Niaspan bests Zetia in ARBITER 6–HALT study
#msg-38554134 Niaspan lowers level of lipoprotein
#msg-51992958 Revisiting the ACCORD study
#msg-47808752 TriCor fails to impress in ACCORD study (PR)
#msg-47808450 TriCor fails to impress in ACCORD study (Reuters)
#msg-48400231 FDA issues CRL for Certriad
#msg-33263372 Crestor JUPITER data could be game-changer
#msg-33503193 TriLipix 1-Year combo data
#msg-34203456 FDA approves TriLipix
#msg-26869744 FDA approves Simcor
#msg-28510348 Heart disease: Not about cholesterol?
#msg-43674310 What’s up with MRK’s Cordaptive?


Drug business (general)
#msg-53395171 Humira continues on monster pace
#msg-51343858 ABT licenses NBIX’s Elagolix for endometriosis
#msg-50509176 Daclizumab starts phase-3 in MS
#msg-39417561 Size and segments of US market for RA
#msg-26156472 FDA approves Humira for plaque psoriasis
#msg-52406597 Nuke-sparing HIV program (Kaletra+Isentress)
#msg-50894737 Oncology pipeline
#msg-47060142 Multi-pronged program in HCV
#msg-29106939 ADHD program


Xience
#msg-39762286 DES US/global market shares (2Q09)
#msg-32873087 Xience ramp exceeds forecasts (1)
#msg-32217694 Xience ramp exceeds forecasts (2)
#msg-42404723 Xience bests Taxus in ‘real world’ SPIRIT IV
#msg-41731638 Xience blows away Taxus at three years in SPIRIT III
#msg-41855797 Xience makes Taxus Liberté irrelevant (1)
#msg-45284964 Xience makes Taxus Liberté irrelevant (2)
#msg-46547744 Taxus is fading fast (4Q09 numbers)
#msg-38097301 Xience shines in hard-to-treat subgroups
#msg-30452522 FDA approves Xience
#msg-38985789 EU approves Xience Prime
#msg-45262545 Xience approved in Japan
#msg-41529862 Xience approved in China


Bio-resorbable stent
#msg-50956393 Six-month data from second cohort (n=101)
#msg-43664045 Three-year data from first cohort (n=30)
#msg-36292361 WSJ blurb (Mar 2009)
#msg-32869939 Business Week feature (Oct 2008)


Corporate, legal, and miscellaneous
#msg-31637906 ABT cuts costs with 1,000-job reduction
#msg-44080721 ABT, Teva settle TriCor patent case
#msg-39903651 ABT wins $400M patent settlement from MDT
#msg-37562781 ABT sues JNJ on Simponi patent
#msg-39161889 Jury hits ABT with $1.7B award in Humira suit
#msg-43335667 Judge refuses to reduce Humira damages
#msg-31102936 Musings on Norvir (ritonavir) lawsuit
#msg-51547194 FDA approves improved HIV diagnostic
#msg-40949294 Cancer-biomarker collaboration with PFE
#msg-39511634 Cancer-biomarker collaboration with GSK
#msg-45878816 Litigation vis-à-vis blood glucose monitoring