Top Stocks: Jefferies names AbbVie (NYSE:ABBV) top global pick, shares rise; Santander Bank (NYSE:SAN), Pfizer’s (NYSE:PFE)

Jefferies names AbbVie (NYSE:ABBV)  top global pick, shares rise.  The shares of drug maker AbbVie (NYSE:ABBV)  gained  after research firm Jefferies named the stock its top pick in the global pharmaceuticals sector, saying that the shares have reached "a great entry point." A few days ago, Deutsche Bank had also issued an upbeat note on the stock and Citigroup recommended selling the shares. Now Jefferies analyst Jeffrey Holford has named AbbVie as his top pick in the drug space today, as he believes that the decline in the stock has created an attractive entry point.

 

Santander Bank (NYSE:SAN) to adopt new policies in use of ChexSystems, says NY AG. New York Attorney General Eric T. Schneiderman announced that Santander Bank (NYSE:SAN) has agreed to adopt new policies governing its use of ChexSystems, a consumer-reporting agency that screens people seeking to open checking or savings accounts. Santander’s new policies are expected to allow thousands of additional New Yorkers and consumers nationwide to open bank accounts by September 30. The change comes amid concerns that screenings by ChexSystems and other consumer-reporting agencies, which are used by most of the nation’s banks, adversely affect lower-income applicants and force them to turn to high-cost alternative financial services like check-cashing outlets.

 

Pfizer’s (NYSE:PFE)  Rapamune  gets FDA acceptance for NDA . Pfizer  (NYSE:PFE) announced that the FDA has accepted for priority review a supplemental New Drug Application for RAPAMUNE for the treatment of lymphangioleiomyomatosis, a rare, progressive lung disease in women of childbearing age that is often fatal. With the Priority Review designation for the sNDA, Pfizer anticipates a decision in June of 2015 based on the anticipated Prescription Drug User Fee Act action date. The sNDA is based on results from the Multicenter International Lymphangioleiomyomatosis Efficacy and Safety of Sirolimus Trial. The MILES Trial included 89 LAM patients with moderate lung impairment who were randomized to receive RAPAMUNE or placebo for 12 months, followed by a 12 month observation period. In the trial, those treated with RAPAMUNE for one year experienced stabilization of lung function as measured by forced expiratory volume in one second.