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30 марта, 12:00

While Hugin led Celgene, its PAC donated heavily to Menendez

Likely Republican U.S. Senate nominee Bob Hugin says he’s “embarrassed” by Democratic Sen. Bob Menendez, whose corruption trial ended late last year with a hung jury.Menendez‘s campaign calls Hugin a “robber baron“ and accuses Celgene, the Summit-based pharmaceutical company he ran until last month, of “parking billions overseas.” But in an awkward twist, Celgene’s corporate political action committee has donated thousands of dollars to Menendez‘s campaign fund and his leadership PAC, according to filings with the Federal Election Commission. The donations came as Menendez’s legal problems were in the news — including thousands made after the senator’s April 2015 indictment on federal corruption charges.Despite Menendez’s misgivings about Celgene, he did not return any of the money. According to the FEC filings, Celgene’s political action committee donated $2,500 to New Millennium PAC, the leadership PAC Menendez uses to help fund political allies and cover certain expenses, as recently as December 2017 — just a month before news of Hugin’s interest in challenging New Jersey’s senior senator broke. At the time, Hugin was Celgene’s executive chairman and contributed $5,000 to the company’s PAC one week before it made the contribution to New Millennium PAC. The December 2017 contribution to New Millennium was just one of dozens totaling more than $58,000 that Celgene’s PAC made to Democratic and Republican members of Congress and their leadership PACs during the second half of 2017 alone. Celgene — which made news last year for “aggressively” raising prices on cancer drugs during Hugin’s leadership and was cited in a Bloomberg report for keeping more than three-quarters of its cash overseas — has a long history of giving to Menendez and New Millennium.The pharmaceutical company’s PAC contributed $2,500 to Menendez’s 2018 Senate campaign, in both March 2017 and in December 2013. It also gave $2,000 to his 2012 reelection bid and $5,000 — the maximum allowable per year — to New Millennium PAC in 2014, 2015 and 2016, FEC filings show. The Philadelphia Inquirer reported in February that Hugin personally donated $4,800 to Menendez in 2010. “Clearly, Bob Hugin knew the charges against Senator Menendez were bogus and that he would be exonerated. Why else would he have donated to the 2018 campaign?” Menendez adviser Michael Soliman said in an email. Celgene’s PAC is funded by employee contributions, and all donations are approved by its board of directors, according to the company’s website. The board is appointed by the company’s CEO and chairman. Hugin was CEO from 2010 to 2016, after which he served as executive chairman until retiring last month. “Bob Hugin had no role in decisions made by Celgene's PAC,” his spokeswoman, Megan Piwowar, said in a statement. “He was busy creating New Jersey jobs and leading a company discovering groundbreaking medicines to fight cancer. The real story here is the hypocrisy of Bob Menendez, attacking Celgene, but happy to raise money from them.“ During the second half of 2017, New Millennium PAC spent $10,519 on meals, though it’s not clear from the filings with the FEC whether they were all for Menendez or his staff. The leadership PAC’s preferred restaurant was Morton’s Steakhouse in Washington, D.C., where it spent nearly $5,000 from June to December 2017, according to the filings. Other popular dining destinations paid for by the PAC included Bistro Bis, which, according to its website, is “where Capitol Hill dines,” and Rasika, an upscale Indian restaurant. A recent poll shows Menendez with a 17-point lead over Hugin.

29 марта, 18:00

Celgene (CELG) Up on Deal With bluebird For CAR-T Candidate

Celgene's (CELG) stock was up by 3% after the company announced a co-promotion agreement with bluebird bio for one of its leading CAR-T candidates.

29 марта, 00:02

Biotech Stock Roundup: PTGX Down, VRNA Up, AMGN's Repatha Gets Positive Opinion

The biotech sector was in focus last week with Protagonist's stock plunging on news of discontinuation of a phase IIb study and Verona Pharma stock surging on positive top-line data from COPD study among others.

28 марта, 19:26

Menendez touts immigrant heritage, targets Trump in reelection kickoff

UNION CITY — This densely packed city in the shadow of Manhattan’s skyscrapers that’s been home to waves of immigrants for centuries is where both Democratic Sen. Bob Menendez and his likely Republican opponent, Bob Hugin, grew up.But Menendez laid claim to the city at his reelection campaign kickoff Wednesday, held in the local high school gymnasium that was packed with more than 1,000 students — mostly, like Menendez, of Hispanic heritage.“I know some of you are not old enough to vote. I am not here to ask for your vote. I am here because I am your vote in the United States Senate. Every time I cast a vote, I do it for you. I carry a piece of this place in my heart,” said Menendez, whose working-class Cuban immigrant mother gave birth to him in the U.S. and raised him in a small apartment just blocks from the school. Menendez would go on to become mayor of the city before becoming a congressman and being appointed to the Senate in 2006.The senator, who is seeking his third full term, would normally skate to reelection in New Jersey, which hasn’t elected a Republican to the U.S. Senate in 46 years. But there’s an element of uncertainty this year, since Menendez just survived a two-and-a-half month corruption trial in which his taste for private jet flights and luxury hotel stays provided by a wealthy friend and donor were on full display by prosecutors. Menendez was charged with doing political favors for the friend, Florida eye doctor Salomon Melgen — including lobbying for him with top Obama administration officials and securing visas for the married doctor’s foreign girlfriends — in exchange for the gifts and hundreds of thousands of dollars in campaign contributions.The jury deadlocked, with 10 of 12 members favoring acquittal on most counts. But the trial took a toll on Menendez’s popularity, with a majority of poll respondents at one point saying he didn’t deserve reelection. Melgen was convicted of Medicare fraud worth tens of millions of dollars in a separate case and sentenced to 17 years in prison.But Menendez may get a reprieve from the deep unpopularity in New Jersey of President Donald Trump. A Quinnipiac University poll released two weeks ago — the only public poll on the race so far — showed Menendez with a 17-point lead over Hugin, a former pharmaceutical executive who is expected to spend millions from his own pocket but is still virtually unknown in New Jersey.Menendez didn’t once mention Hugin, a major Trump donor who previously praised the president but has de-emphasized his connections to the president since he launched his Senate campaign last month. Instead, Menendez aimed his rhetoric at Trump.“There is a president in Washington who spends his days dividing us and distracting us but never delivering for us, who believes that being wealthy is the same thing as being worthy,” Menendez said.And while Republicans are saying there’s an ethical cloud over Menendez, the senator said the “cloud” is actually around Trump. “Our votes have never mattered more. We cannot let the dark cloud cast by the president define us as a country,” he said.Menendez’s son, Robert Menendez Jr., spoke before the senator and said of Trump that “when he closes his eyes and sees a more perfect America, it looks like Norway.”“Yet when I close my eyes and see a more perfect America, it looks like Union City, New Jersey,” Menendez Jr. said.The elder Menendez spent several minutes talking about gun control and the efforts of high school students to pass new laws, saying students “like you” have stood with Florida’s Marjory Stoneman Douglas High School students.“Throughout my life I’ve worked hard for good grades as I hope you’re doing here, but I am proud to have a big fat ‘F’ from the NRA,” Menendez said.Menendez did take one apparent shot at Hugin, without mentioning him by name, calling out that while “drug companies were working to make drug prices higher for cancer patients, I was working to make medicine more affordable for families.”Celgene, which Hugin led until this year, has been criticized for hiking prices on cancer drugs.Hugin’s campaign focused in on Menendez’s corruption trial, saying in a statement that the campaign would be “a story of two Bobs.”“Menendez accepted lavish gifts from a friend and wealthy campaign donor, and tried to stop a federal investigation by President [Barack] Obama's Justice Department into a Medicare fraud scheme being run by that friend, Dr. Salomon Melgen, who was later convicted and sentenced to 17 years for 67 felonies. What Senator Menendez calls an act of friendship with Melgen, we call corruption,” Hugin spokeswoman Megan Piwowar said in a statement. “New Jersey deserves a Senator as good as its people, not one trying to stay one step ahead of the law.”The Menendez rally was also a show of political muscle. Dozens of powerful North Jersey Democratic elected officials — including Gov. Phil Murphy and Sen. Cory Booker — showed up to the rally. Menendez plans a second event with South Jersey Democrats in the lower half of the state Wednesday afternoon.Democrats who dominate his home county of Hudson are at odds, with two factions gearing up for a massive contest to determine leadership of the county’s party. Union City Mayor Brian Stack, a state senator who has ensured that Union City is a powerful voting bloc that matters in statewide elections, is set to take over the Hudson County Democratic Organization and wants to oust Hudson County Executive Tom DeGise. Nevertheless, both men were at the high school to show support for Menendez.Jersey City Mayor Steve Fulop, whom Menendez accused without naming of “trying to dig my political grave” so he could “jump into my seat” immediately after his mistrial, also showed up.Students told POLITICO they were missing about three periods for the event, and that attendance was mandatory. A call placed to Union City High School administrators was not immediately returned.

28 марта, 17:50

Celgene Loses 17.8% in 3 Months: Time to Reshuffle Portfolio?

Things have not been going Celgene's (CELG) way as the company has suffered a series of setbacks. The stock has lost 17.8% in the last three months.

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27 марта, 16:54

3 Sell-Rated Drug Stocks Investors Should Avoid for Now

Despite a fairly upbeat performance of the pharma and biotech sector, caution has to be exercised before choosing a stock for investment as a few drug companies are struggling to revive business.

27 марта, 13:13

4 Top-Ranked Drug/Biotech Stocks to Buy as Q1 Nears End

The first quarter of 2018 is drawing to a close. With the outlook optimistic for the rest of the year, we highlight four drug/biotech stocks worth buying

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26 марта, 16:25

Celgene shares rise 2% on expectation of Revlimid patent settlement

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

Выбор редакции
23 марта, 17:31

Celgene Corporation Looks Cheap, Considering Its Potential

Keep in mind that during this period Celgene stock has lost about 40% of its value. As a result, Celgene stock took a big hit. By 2022, it will lose its patent protection, resulting in competition from generic drug companies.  For the most part, Celgene is in a race to overcome the likely reduction in revenues.

Выбор редакции
22 марта, 15:33

Better Buy: Celgene Corporation vs. Biogen Inc.

Which of these big biotech stocks is the better pick right now?

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21 марта, 19:37

JP Morgan says this stock is too compelling to ignore

The “Fast Money Halftime Report” traders discuss Celgene for the call of the day.

21 марта, 17:39

Biotech Stock RoundUp: ALXN & ARNA Up on Study Data, PRTA Teams Up With Celgene

The biotech sector was in focus last week with Alexion gaining on positive data on PNH candidate, Arena surges on ulcerative drug data, Solid Biosciences' stock suffering a crash and Prothena teaming up with Celgene.

21 марта, 16:08

Prothena Rallies on Multi-Year Collaboration With Celgene

Shares of Prothena (PRTA) surged significantly after the company announced a multi-year collaboration with leading company Celgene to develop new therapies for a broad range of neurodegenerative diseases.

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19 марта, 15:34

The Zacks Analyst Blog Highlights: Biogen, AbbVie, Novartis, Teva and Celgene

The Zacks Analyst Blog Highlights: Biogen, AbbVie, Novartis, Teva and Celgene

16 марта, 18:12

Why Multiple Sclerosis is a Promising but Risky Space?

Multiple Sclerosis (MS) is a promising space but risks continue to persist with the recent withdrawal of Zinbryta.

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14 марта, 18:12

Biotech Stock Roundup: REGN Cuts Praluent Price, OREX to File for Bankruptcy

The biotech sector was in focus last week with key news - Orexigen going bankrupt, Biogen acquires asset from Pfizer, Regeneron cuts Praluent price among others.

23 марта 2015, 13:15

Макроэкономическая ликвидность и воспроизводство капитала.

Сегодня мы с вами посмотрим на макроэкономическую ликвидность с точки зрения воспроизводства капитала, обратившись к марксовым схемам и посмотрим, могут ли марксовые схемы объяснить текущие экономические явления.Для основы возмем три статьи.Первая статья зерохедж Nearly 75% Of Biotechs Have No Earnings  в переводе на вестифинанс http://www.vestifinance.ru/articles/5485375% биотехнологических компаний не имеют прибылиБезудержный рост американского рынка акций во многом был обусловлен ростом стоимости акций компаний сектора биотехнологий. Именно они, а также Apple, способствовали подъему индекса Nasdaq до уровня 5000 пунктов, но, если заглянуть за кулисы, все не так радужно.Ниже мы приведем график из 150 компаний, входящих в Nasdaq Biotech Index (NBI), с разбивкой по чистой прибыли. Несмотря на то что этот фондовый индикатор едва ли не каждый день устанавливает новые максимумы, многие из этих предприятий попросту убыточны.Есть, конечно, и прибыльные, но из 150 таких всего 41 компания, а суммарная прибыль за последний год составила чуть менее $31 млрд. Стоит отметить, что только 5 компаний имеют прибыль более $1 млрд: Gilead, Amgen, Shire, Biogen и Celgene.Таким образом, получается, что на эти компании приходится 83% прибыли, генерируемой всеми компаниями из NBI, а 109 представителей индекса являются убыточными.Подводя итог, мы имеем в индексе 41 прибыльную компанию, а 72,5% других теряют деньги на своем бизнесе. Кроме того, как мы уже отметили, 83% прибыли приходится на компании, доля которых в индексе составляет 12%.Теперь, если исключить из списка компании с капитализацией менее $1 млрд, картина в целом не изменится: из 87 биотехнологических компаний 68% несут убытки. Ну и еще раз о "большой пятерке": их прибыль составила 84% от прибыли всей отрасли.Что же по этому поводу думает рынок? Капитализация Nasdaq Biotech Index составляет $1,06 трлн, а прибыль за последние 12 месяцев - всего $21,1 млрд. Иными словами, данный биржевой индикатор торгуется с соотношением цена/прибыль (P/E) в районе 50, и опять же это при том, что львиная доля прибыли приходится всего на 5 компаний.Вторая статья фанейшнл таймс The Central Bank Money Machine At Work: Big Oil Goes On Borrowing SpreeКрупнейшие мировые энергетические компании продали рекордные суммы долга в этом году, воспользовавшись исторически низкими процентными ставками по займам,чтобы ликвидировать кассовый разрыв между доходами и расходами, после того, как цены на нефть снизились вдвое..Общий долг за первые 2 месяца 2015 года крупнейших американских нефтяных и газовых компаний вырос более чем на 60%, по сравнению с последними тремя месяцами прошлого года. Займы   ExxonMobil , Chevron , Total и BP составили половину- $ 31млрд от общей суммы всех компаний энергетического сектора на сумму $ 63млрд. Доминирование крупнейших компаний делает сложным привлечение займов для мелких игроков, затраты которых на займы становятся неподъемными,в связи с чем те вынуждены себя выставлять на продажу, как, например, это  Gulf Keystone.Третья статья моя , она как раз касалась возможности применения марксовых схем для работы . Роботы вокруг людей и люди как роботы Схема была выведена на основании понимания механизма воспроизводства капитала или его невозможности, теоретическое обоснование будет выглядеть несколько сложнее,чем описано в статье, но все же, эту схему легко можно применить к текущим событиям."Чтобы было понятно: вся стоимость компаний сейчас представляет собой фиктивную стоимость капитала (с), переменный капитал (зарплата-v) снижается, прибавочная стоимость (m) также фиктивна- за счет фиктивности стоимостей с каждой из сторон подразделений временами имеется равновесие; но при крахе финансового рынка равновесие нарушается и восстановление идет довольно хаотично и по принципу- у кого больше административных возможностей для восстановления фиктивности стоимостей.Т.о. у нас выходит следующая схема:фиктивная стоимость II с = убывание I v + фиктивная стоимость I m"Снова возвращаемся к компаниям Nasdaq . Вне всякого сомнения,что капитализация в $1трлн- это фиктивная стоимость основного капитала II подразделения. Фиктивная стоимость прибавочной стоимости I подразделения  основывается на его замещениии займом, ликвидировав тем самым кассовый разрыв между высокими расходами и низкими доходами.Убывание переменного капитала I подразделения здесь не приведено, но я писала об этом ранее, приведенные статьи - из текущих новостей.Иными словами, капитализация прибавочной стоимости носит фиктивный характер,что не дает выправить накапливающиеся дисбалансы в деградирующей системе и макроэкономическая ликвидность систематически будет иметь "кассовый разрыв", периодически его накапливая до полного исчезновения ликвидности, т.е невозможности капитализации . И как видим, марксовы схемы вполне применимы в работе и совсем не сложны.