E Global Tech, Pharma, Finance And Energy Stock Highlights

GlaxoSmithKline (GSK) is publishing data on chronic obstructive pulmonary disease drug Breo (US)-Relvar (Europe) FF/VI showing that the combo therapy beat “usual care” in cutting exacerbations of COPD by 8.4%. The new drug does not contain corticosteroids which are part of the usual care. It also can be used against asthma on which data will only come out next year.

The ground-breaking COPD study, in Salford, near Manchester, England, treated patients in a clinical setting. Run by Innoviva Inc, and supported GSK plans to get another respiratory blockbuster. The stock is up.

Irish Alkermes (ALKS) will present at the American Society of Clinical Psychopharmacology in Scottsdale (AZ) June 1 new data on its ALKS 5461 to treat major depressive disorder from two phase 3 studies in patients who do not respond to other treatment. It will also report on plans for a phase 2 trials in patients with schizophrenia who drink too much alcohol for its ALKS 3831, and on several extension studies for its Aristada injection for schizophrenia which is already on the market. As is their wont. 8 c-suite execs at ALKS sold shares yesterday. There is schizophrenia among managers as well as among patients in part because the Irish firm is run from Waltham Mass after it did an inversion.

Indivior (INVVYrose 3.2% yesterday mainly because sterling rose over a sense that older Britons will not vote to leave the European Union as massively as earlier estimates projected.

I sold Novartis (NVSat $78.13/sh after getting fed up with its fiddling for charitable donations to people who cannot afford its drugs from Medicare. This caused a charge to the US insurance system but NVS gets to deduct the payment from its taxes. My source for this is Bloomberg Business Week.

NVS stock rose 3.1% yesterday as the Wilhelm Tell faction cheered its cheating Uncle Sam.

Finance

Banco Santander (SANis up sharply in Madrid trading today. SAN.

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