EU HEALTHCARE: Healthcare: Week in Review
Jan-09 12:15
- Merck and AbbVie have both been linked with a takeover of Revolution Medicines. In the most recent press article, the FT has said that Merck may consider a $32bn takeover of the innovative cancer treatment maker. Merck has recently issued $8bn to pay for the Cidara takeover and would have to issue significantly more debt to pay for RVMD. MRK bonds were up to +3 wider on the week; ABBV longer dates +2. (Shorter dates skewed the reported move even wider).
- Novo Nordisk equity has bounced off the lows as it beat Eli Lilly in the race to launch a pill version of its weight-loss drug. Upcoming patent expiration in China and Canada are a drag and are already leading to price cutting but the pill could easily become a global hit. Bonds 1.5bps tighter. The equity is 25% higher since FDA approval of the pill.
- Bayer’s AskBio subsidiary achieved rare disease designation for a Pompe Disease treatment. The equity touched €40 briefly. Bonds ~3bps better on the week.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
OUTLOOK: Price Signal Summary - Bull Cycle In Gold Remains In Play
Dec-10 12:03
- On the commodity front, Gold is in consolidation mode. The trend condition is unchanged, the set-up remains bullish. The bear phase between Oct 20 and 28 appears to have been a correction and note that the recovery since Oct 28 signals the end of that corrective cycle. Key support to watch is the 50-day EMA, at $4044.0. Clearance of this EMA would signal scope for a deeper retracement. Sights are on key resistance and the bull trigger at $4381.5, the Oct 20 high.
- Short-term gains in WTI futures appear corrective - for now - and a bear threat remains present. Note that moving average studies are in a bear-mode position, highlighting a dominant downtrend. A stronger resumption of the bear leg would open key support and the bear trigger at $55.99, the Oct 20 low. Clearance of this level would resume the downtrend. Key short-term resistance to watch is $61.84, the Oct 24 high.
MNI: BRAZIL NOV FINAL IPCA +0.18% M/M
Dec-10 12:00
- MNI: BRAZIL NOV FINAL IPCA +0.18% M/M
MNI: US MBA: MARKET COMPOSITE +4.8% SA THRU DEC 05 WK
Dec-10 12:00
- MNI: US MBA: MARKET COMPOSITE +4.8% SA THRU DEC 05 WK
