We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Celgene (CELG), BeiGene Team Up For PD-1 Inhibitor in China
Read MoreHide Full Article
Celgene Corporation recently entered into a strategic collaboration with China based-BeiGene, Ltd. (BGNE - Free Report) . Per the deal, Celgene will develop and commercialize BeiGene’s investigational anti-programmed cell death protein 1 (PD-1) inhibitor BGB-A317.The candidate will be used to treat patients with solid tumor cancers in the United States, Europe, Japan and rest of world outside Asia.
Per the terms of the agreement, BeiGene will retain exclusive rights for the development and commercialization of BGB-A317 for hematological malignancies globally and for solid tumors in Asia (with the exception of Japan). In exchange, BeiGene will acquire Celgene’s commercial operations in China and gain an exclusive license to commercialize the company’s approved therapies– Abraxane, Revlimid and Vidaza – in China.
BGB-A317, an advanced clinical-stage investigational PD-1 inhibitor, has been dosed in over 500 patients. Initial clinical data suggest that BGB-A317 is well tolerated and exhibits anti-tumor activity across a range of solid tumor types. We note that the candidate is being developed as a monotherapy and in combination with other therapies for the treatment of solid tumor cancers. The candidate is currently being evaluated in two pivotal trials in China while global pivotal studies of BGB-A317 are expected to initiate in 2018.
The acquisition of BGB-A317 significantly accelerates and expands Celgene’s opportunity to develop and deliver novel T-cell checkpoint inhibitor-based therapies in solid tumor cancers to patients worldwide and adds to its ongoing PD-L1 FUSION program in hematological malignancies. It also transforms BeiGene into a commercial-stage company.
BeiGene will acquire Celgene’s operations in China. BeiGene has obtained licensing rights in China for CC-122, under the same terms and conditions as the approved commercial products. The candidate is currently under development for lymphoma and hepatocellular carcinoma.
Meanwhile, BeiGene plans to expand manufacturing and commercial operations in China in preparation for the potential approvals of BGB-A317 and future innovative therapies.
While BeiGene will receive upfront licensing fees totaling $263 million, Celgene will acquire an equity stake in BeiGene by purchasing 32.7 million, or 5.9% of BeiGene’s ordinary shares at $4.58 per share. In addition, BeiGene will receive up to $980 million in development, regulatory and sales milestone payments and royalties on future sales of BGB-A317.
Celgene has been executing strategic acquisitions and inking deals to bolster its pipeline. Celgene has an agreement with Agios Pharmaceuticals (AGIO - Free Report) for Idhifa. The company submitted a new drug application to the FDA for enasidenib, in relapsed refractory AML in 2016. The NDA for Idhifa was granted Priority Review with a Prescription Drug User Fee Act (PDUFA) action date of Aug 30, 2017.
Shares of Celgene have outperformed the Zacks classified Medical-Biomedical and Genetics industry year to date. Specifically, the stock has rallied 15.1% during this period, compared with a gain of 8.1% for the industry.
Celgene’s key growth driver, Revlimid is an oral immunomodulatory drug and is currently approved for several indications including multiple myeloma (MM), myelodysplastic syndromes (MDS) and mantle cell lymphoma (MCL).
Bayer’s earnings per share estimates have inched up from $8.85 to $8.93 for 2017 and from $9.53 to $9.61 for 2018, over the last 30 days. The company has delivered positive earnings surprises in three of the trailing four quarters with an average beat of 10.25%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Celgene (CELG), BeiGene Team Up For PD-1 Inhibitor in China
Celgene Corporation recently entered into a strategic collaboration with China based-BeiGene, Ltd. (BGNE - Free Report) . Per the deal, Celgene will develop and commercialize BeiGene’s investigational anti-programmed cell death protein 1 (PD-1) inhibitor BGB-A317.The candidate will be used to treat patients with solid tumor cancers in the United States, Europe, Japan and rest of world outside Asia.
Per the terms of the agreement, BeiGene will retain exclusive rights for the development and commercialization of BGB-A317 for hematological malignancies globally and for solid tumors in Asia (with the exception of Japan). In exchange, BeiGene will acquire Celgene’s commercial operations in China and gain an exclusive license to commercialize the company’s approved therapies– Abraxane, Revlimid and Vidaza – in China.
BGB-A317, an advanced clinical-stage investigational PD-1 inhibitor, has been dosed in over 500 patients. Initial clinical data suggest that BGB-A317 is well tolerated and exhibits anti-tumor activity across a range of solid tumor types. We note that the candidate is being developed as a monotherapy and in combination with other therapies for the treatment of solid tumor cancers. The candidate is currently being evaluated in two pivotal trials in China while global pivotal studies of BGB-A317 are expected to initiate in 2018.
The acquisition of BGB-A317 significantly accelerates and expands Celgene’s opportunity to develop and deliver novel T-cell checkpoint inhibitor-based therapies in solid tumor cancers to patients worldwide and adds to its ongoing PD-L1 FUSION program in hematological malignancies. It also transforms BeiGene into a commercial-stage company.
BeiGene will acquire Celgene’s operations in China. BeiGene has obtained licensing rights in China for CC-122, under the same terms and conditions as the approved commercial products. The candidate is currently under development for lymphoma and hepatocellular carcinoma.
Meanwhile, BeiGene plans to expand manufacturing and commercial operations in China in preparation for the potential approvals of BGB-A317 and future innovative therapies.
While BeiGene will receive upfront licensing fees totaling $263 million, Celgene will acquire an equity stake in BeiGene by purchasing 32.7 million, or 5.9% of BeiGene’s ordinary shares at $4.58 per share. In addition, BeiGene will receive up to $980 million in development, regulatory and sales milestone payments and royalties on future sales of BGB-A317.
Celgene has been executing strategic acquisitions and inking deals to bolster its pipeline. Celgene has an agreement with Agios Pharmaceuticals (AGIO - Free Report) for Idhifa. The company submitted a new drug application to the FDA for enasidenib, in relapsed refractory AML in 2016. The NDA for Idhifa was granted Priority Review with a Prescription Drug User Fee Act (PDUFA) action date of Aug 30, 2017.
Shares of Celgene have outperformed the Zacks classified Medical-Biomedical and Genetics industry year to date. Specifically, the stock has rallied 15.1% during this period, compared with a gain of 8.1% for the industry.
Celgene’s key growth driver, Revlimid is an oral immunomodulatory drug and is currently approved for several indications including multiple myeloma (MM), myelodysplastic syndromes (MDS) and mantle cell lymphoma (MCL).
Zacks Rank & Stock to Consider
Celgene currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in healthcare sector is Bayer AG (BAYRY - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bayer’s earnings per share estimates have inched up from $8.85 to $8.93 for 2017 and from $9.53 to $9.61 for 2018, over the last 30 days. The company has delivered positive earnings surprises in three of the trailing four quarters with an average beat of 10.25%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>