Archive for June, 2014

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Large Pharma’s ‘Established’ & ‘Growth’ NEWCOs: A Solomonic Path to More Efficient R&D?

We divided the large cap pharmaceutical companies into ‘established’ and ‘growth’ NEWCOs; we then compared the combined value of the ‘established’ and ‘growth’ NEWCOs to the legacy parent companies, and found no compelling evidence to believe the combined NEWCO values

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June 9, 2014 – TMT: The Advertising Revolution Will NOT Be Televised

TMT: The Advertising Revolution Will NOT Be Televised Since the 2010 recovery, US TV ad spending, adjusted for Olympic/campaign bumps in 2010 and 2012, has been decelerating. The price of a primetime spot has steadily declined, offset by increasing the

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Impact of European Monetary Policy on Bank Margins in the US

European monetary policy matters to bank net interest margins in the US because the risk of disinflation has collapsed European bond yields (to 1.6% on the 10-year from 2.2% at end-2013) dragging down US Treasury yields (to 2.6% on the

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SSR Health New Product Approval Portfolios & Supporting Data Update

Drug, biotech, and research-based spec pharma stocks tend to outperform their peers in the year or so before and after regulatory actions (‘PDUFA’ dates) on major new products, with a large portion of total risks being concentrated in the days

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Groundhog Day – PPC, HSH and TSN

Last week, we suggested that it was likely that PPC would remain engaged in its pursuit of HSH subsequent to TSN offering a $50 per share counter-bid for the company. Sure enough, the Wall Street Journal is reporting that PPC

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Quick Thoughts: Apple is all about the Devs

–        Unlike past years, WWDC ‘14 had no new hardware, just updates to OS X and iOS that filled competitive holes, tightened cross-platform integration, and added support for developers. –        The anticipated HealthKit and HomeKit features of iOS8 allow 3rd

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Quick Thoughts: TMT heavyweights weigh in at #CodeCon

Quick Thoughts: TMT heavyweights weigh in at #CodeCon The inaugural CodeCon conference featured big hitters from MSFT, GOOG, AAPL, QCOM, INTC, CMCSA, NFLX, S, CRM, WDAY, TWTR, and WMT, often with real news to announce MSFT’s real time translation, GOOG’s

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