Is the Christmas card dead?






Author Nina Burleigh says the holiday photo is dead — and the internet killed it


Every year around the holidays, countless Americans sit down at their dining room tables to thoughtfully scribble pen-and-paper updates about how they are and what they’ve been doing with their lives to a select number of friends. These messages are usually written on the back of a recent family photograph (sometimes with Santa hats), before they’re sealed, stamped, and mailed around the country, where they’re displayed like a trophy over someone else’s fireplace.






Could that all be changing? This year, especially, there seems to be a dearth of dead-tree holiday cheer filling up mailboxes across the country. In a recent column for TIME, author Nina Burleigh says the spirit once distilled inside the Christmas card is dying, and a familiar, if fairly obvious perpetrator killed it: The internet. “There’s little point to writing a Christmas update now, with boasts about grades and athletic prowess, hospitalizations and holidays, and the dog’s mishaps, when we have already posted these events and so much more of our minutiae all year long,” she writes. “The urge to share has already been well sated.”


[Now] we already have real-time windows into the lives of people thousands of miles away. We already know exactly how they’ve fared in the past year, much more than could possibly be conveyed by any single Christmas card. If a child or grandchild has been born to a former colleague or high school chum living across the continent, not only did I see it within hours on Shutterfly or Instagram or Facebook, I might have seen him or her take his or her first steps on YouTube. If a job was gotten or lost, a marriage made or ended, we have already witnessed the woe and joy of it on Facebook, email and Twitter.


Burleigh says the demise of the Christmas card is deeply saddening. “It portends the end of the U.S. Postal Service,” she writes. “It signals the day is near when writing on paper is non-existent.” It’s true, says Tony Seifart at Memeburn — “my mantle is empty this year. In fact I haven’t received one Christmas card yet.”


SEE ALSO: The perks and perils of our newly indexed society


Let’s not get too nostalgic just yet, says Alexis Madrigal at The Atlantic. Research firm IBISWorld anticipates that purchases of cards and postage will be the highest it has been in five years — $ 3.17 billion total. And Hallmark, the industry’s biggest player, has seen revenue hold steady since the early 2000s despite the financial crisis. We could also think about this another way: That desire to share, the willingness to inform, could just be extending itself beyond the physical form of the holiday photo. 


No matter what time of the year, people now write contemplative letters with weird formatting to an ill-defined audience of “friends”; these are Christmas letters, whether Santa is coming down the chimney or not. There are reindeer horns on pugs in July. And humblebrags about promotions in April. There are dating updates in November. And you can disclose that you were voted mother of the year any damn day you please… For good or for ill, perhaps we’re seeing not the death of the holiday card and letter, but its rebirth as a rhetorical mode. Confessional, self-promotional, hokey, charming, earnest, technically honest, introspective, hopey-changey: Oh, Christmas Card, you have gone open-source and conquered us all. 


The spirit of the Christmas card is indeed alive and well. It’s just not necessarily in a Christmas card.


SEE ALSO: Poison pens and lipstick guns: 8 real-life spy weapons


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Canada spending growth sluggish in November, Mastercard says






(Reuters) – Canada‘s holiday shopping season got off to a slow start in November with retail sales rising only 1.3 percent from the previous year, compared with 4.2 percent growth a year earlier, according to data released by MasterCard on Thursday.


Still, the shopping season was still young in November. MasterCard Advisors, the payment company’s research and consulting division, found that in recent years, holiday shopping peaks from December 20 to December 22.






“Many Canadians may have gotten an early start with Black Friday and Cyber Monday this year, but it’s still a very young phenomenon in Canada,” Senior Vice-President Richard McLaughlin, said in a release.


The Friday after U.S. Thanksgiving is the unofficial start to the holiday shopping season south of the border, and in recent years retailers have imported Black Friday sales to Canada.


Some also promote online sales the following Monday.


Canada’s online retail sales continued to grow in November, increasing 26.4 percent.


(Reporting by Allison Martell; Editing by Peter Galloway)


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Slave-Revenge Film ‘Django Unchained’ Tracking Strongly With African-Americans






LOS ANGELES (TheWrap.com) – “Django Unchained” – about a bounty hunter who partners with a freed slave to take down a plantation owner – is tracking extremely well with African Americans, the Weinstein Company said Thursday.


Quentin Tarantino wrote and directed the violent Western, which stars Christoph Waltz, Jamie Foxx and Leonardo DiCaprio, respectively. Opening on Christmas Day, it’s a front-runner in several Academy Award categories.






Despite the violence, it’s one of the few holiday offerings that would by nature of its subject matter appeal to an African-American audience.


“We think this film is going to resonate with everyone,” the Weinstein Company’s head of distribution Erik Lomis told TheWrap Thursday. And while he didn’t offer specific figures on the degree of interest among African-Americans the company’s pre-release research indicated, he did say that it is “looking very, very strong for us” with that demographic.


That’s good news for “Django,” which will open against Universal’s “Les Miserables” in a very crowded holiday box office. Analysts see a first weekend in the $ 25 million range for “Django,” and predict it ultimately will surpass $ 100 million domestically.


Last week “Django” received Golden Globes nominations for picture, director, screenplay and two supporting actors, Waltz and DiCaprio.


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Final day of funerals for Newtown shooting victims




The final three victims of the massacre at Sandy Hook Elementary School will be laid to rest today, ending a somber week of funerals.



A mass will take place today at St. Rose of Lima Catholic Church for Josephine Gay, who had celebrated her 7th birthday on Dec. 11.



Friends and family have been asked to wear Josephine's favorite color, purple, in her honor.



PHOTOS: Victims of Sandy Hook Massacre



A homegoing celebration will take place at The First Cathedral in Bloomfield, Conn., for Ana Marquez-Greene. The 6-year-old with a beaming voice sang in a home video with her brother, who was also at Sandy Hook Elementary School during the massacre, and seemed destined to take after her father, a jazz musician.



Emilie Parker, the budding artist who carried her markers and pencils everywhere, will be laid to rest in Ogden, Utah today.



The 6-year-old would have been would one of the first to comfort her classmates at Sandy Hook Elementary School, had a gunman's bullets not claimed her life, her father said.



"My daughter Emilie would be one of the first ones to be standing and giving support to all the victims because that's the kind of kid she is," her father, Robbie Parker, said last Saturday.



"She always had something kind to say about anybody," Parker said. "We find comfort reflecting on the incredible person Emilie was and how many lives she was able to touch."



WATCH: Emilie's father speaks about his daughter


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Hepatitis C tests continue after NH tech’s arrest






CONCORD, N.H. (AP) — Hospitals across the country recommended hepatitis C testing for about 7,900 patients last summer after a traveling medical worker was accused of stealing drugs and infecting patients with tainted syringes in New Hampshire. But five months later, nearly half of those who were possibly exposed to the liver-destroying disease in other states have yet to be tested.


Described by prosecutors as a “serial infector,” David Kwiatkowski is accused of stealing syringes of the powerful painkiller fentanyl from the cardiac catheterization lab at New Hampshire’s Exeter Hospital and replacing them with saline-filled syringes tainted with his own blood. In jail since his arrest in July, he pleaded not guilty to 14 federal drug charges earlier this month and is expected to go to trial next fall.






Before April 2001, when he was hired in New Hampshire, Kwiatkowski worked as a traveling cardiac technologist in 18 hospitals in seven states, moving from job to job — despite being fired twice over allegations of drug use and theft.


Thirty-two people in New Hampshire have been diagnosed with the same strain of hepatitis C that Kwiatkowski carries, along with six in Kansas, five in Maryland and one in Pennsylvania. At least 3,700 people outside New Hampshire have yet to be tested, hospitals and public health officials told The Associated Press.


For example, in Michigan, where Kwiatkowski grew up and started his career, about 2,300 patients at five hospitals were notified that they may have been exposed to hepatitis C by Kwiatkowski. As of early December, only about 500 had gone in for testing, none of whom were diagnosed with a strain linked to the New Hampshire outbreak, according to the Michigan Department of Community Health.


In Pennsylvania, 2,280 patients at the University of Pittsburgh Medical Center Presbyterian were notified that they should get tested, but only 840 have, one of whom was diagnosed with a matching strain of hepatitis C.


Kwiatkowski was fired a few weeks into his temporary job at UPMC in 2008 after a co-worker accused him of swiping a fentanyl syringe from an operating room and sticking it down his pants. Citing a lack of evidence, hospital authorities didn’t call police, and neither the hospital nor the medical staffing agency that placed him in the job informed the national accreditation organization for radiological technicians. Within days, Kwiatkowski was starting a new job at the Baltimore VA Medical Center, where one patient also has since been diagnosed with hepatitis C linked to Kwiatkowski.


Though the VA center initially said it had identified 168 patients who may have been exposed, that number was later lowered, and 68 patients ultimately were tested. Two other Maryland hospitals where Kwiatkowski worked also have completed their testing, with no diagnosed cases of hepatitis C matching Kwiatkowski. But at the fourth, The Johns Hopkins Hospital in Baltimore, four patients have been diagnosed with the strain of disease linked to Kwiatkowski.


About 500 of the 1,567 patients notified by Johns Hopkins have yet to be tested, according to hospital spokeswoman Kim Hoppe. Kwiatkowski had been referred by a staffing agency that assured Johns Hopkins that it had followed a vigorous vetting process, Hoppe said. He worked there for two 13-week stints, from July 2009 to January 2010.


Saint Francis Hospital in Poughkeepsie, N.Y., where Kwiatkowski worked in late 2007 and early 2008, notified and tested 31 patients without finding any linked cases to Kwiatkowski. In Kansas, nearly all of the 416 patients who may have been exposed at Hays Medical Center have been tested and six have been diagnosed with infections linked to the New Hampshire outbreak.


There have been no cases linked to Kwiatkowski in Arizona, where about 300 patients from two hospitals have been asked to get tested and about 280 have done so. Kwiatkowski worked at Maryvale Hospital in Phoenix in 2009 and the Arizona Heart Hospital in 2010. He was fired from the latter job after 10 days after a co-worker found him passed out in a bathroom stall with a stolen fentanyl syringe floating in the toilet.


That incident was reported to police, Kwiatkowski’s staffing agency, a state regulatory board and the national accreditation organization, but the accreditation group dropped its inquiry after learning police hadn’t filed charges.


Days later, Kwiatkowski landed a new job filling in for striking technicians at Temple University Hospital in Philadelphia. That hospital has recommended testing for 312 patients but won’t say how many have followed through or have been diagnosed with hepatitis C. A hospital spokesman referred questions to the city health department, which did not return calls.


Testing also is still under way in the last place Kwiatkowski worked before heading to New Hampshire — Houston Medical Center in Warner Robins, Ga. According to the hospital, fewer than 100 people have yet to be tested, and there haven’t been any cases yet linked to Kwiatkowski.


In New Hampshire, where about 3,300 patients were tested, Kwiatkowski is charged with seven counts of illegally obtaining drugs and seven counts of tampering with a consumer product, though prosecutors have said further charges are possible. Although New Hampshire cannot charge him for possible violations in other states, it can use evidence gathered in those jurisdictions in its trial, U.S. Attorney John Kacavas said. Other states are waiting to see the outcome of New Hampshire’s case before deciding whether to file charges, he said.


“We continue to reach out to other states affected by this matter,” Kacavas said this week. “Other health organizations and departments continue to do their work in their states, but nothing has changed in the sense that our prosecution will go forward. At this point, we are the only prosecution in the country, and we’ll see how it rolls out.”


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SaleSpider Media Gets Ready for 2013






SaleSpider Media had an extremely successful 2012 and looks to bring that success into 2013.


toronto, ON (PRWEB) December 21, 2012






SaleSpider Media had an extremely successful 2012 and looks to bring that success into 2013. Over the past year each of SaleSpider Media’s social networks have growth substantially. SaleSpider.com, North America‘s largest SMB social network, grew by over 500% in 2012. SaleSpider Media’s other properties, HomeOwnersCircle.com and WealthMason.com, each grew by over 2000% in traffic over the same time period.


The substantial growth of SaleSpider Media can be attributed to the company’s digital innovations in the past year, here is a quick snapshot:


SaleSpider Media looks to continue to bring great innovations to our social platforms and grow with our users in the coming year of 2013.


About Sales Spider Media:



SaleSpider Media is a leading internet company with multiple fast-growing, highly-related brands serving loyal consumer and business audiences…our mission is to harness the power of interactivity to make daily life easier and more productive for people all over North America and The World.



SaleSpider Media’s exclusive web properties have millions of unique visitors and opt-in members and are growing by over 90% each quarter. The company has deep reach to in-market buyers in Auto, Travel, Finance, Insurance, Technology, B2B, and many more!



SaleSpider Media works with top Fortune 100 companies and is a leader in…


  • First Party Data Targeting reaching “ready to buy” consumers

  • Reaching Business Decision Makers by company size, industry, title and geography

  • Social Media, multiple platforms including the largest small business social network in North America

To learn more about SaleSpider Media, please see SaleSpiderMedia.com.


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Italy PM Monti resigns, elections likely in February






ROME (Reuters) – Italian Prime Minister Mario Monti tendered his resignation to the president on Friday after 13 months in office, opening the way to a highly uncertain national election in February.


The former European commissioner, appointed to lead an unelected government to save Italy from financial crisis a year ago, has kept his own political plans a closely guarded secret but he has faced growing pressure to seek a second term.






President Giorgio Napolitano is expected to dissolve parliament in the next few days and has already indicated that the most likely date for the election is February 24.


In an unexpected move, Napolitano said he would hold consultations with political leaders from all the main parties on Saturday to discuss the next steps. In the meantime Monti will continue in a caretaker capacity.


European leaders including German Chancellor Angela Merkel and European Commission President Jose Manuel Barroso have called for Monti’s economic reform agenda to continue but Italy’s two main parties have said he should stay out of the race.


Monti, who handed in his resignation during a brief meeting at the presidential palace shortly after parliament approved his government’s 2013 budget, will hold a news conference on Sunday at which he is expected clarify his intentions.


Ordinary Italians are weary of repeated tax hikes and spending cuts and opinion polls offer little evidence that they are ready to give Monti a second term. A survey this week showed 61 percent saying he should not stand.


Whether he runs or not, his legacy will loom over an election which will be fought out over the painful measures he has introduced to try to rein in Italy’s huge public debt and revive its stagnant economy.


His resignation came a couple of months before the end of his term, after his technocrat government lost the support of Silvio Berlusconi‘s centre-right People of Freedom (PDL) party in parliament earlier this month.


Speculation is swirling over Monti’s next moves. These could include outlining policy recommendations, endorsing a centrist alliance committed to his reform agenda or even standing as a candidate in the election himself.


The centre-left Democratic Party (PD) has held a strong lead in the polls for months but a centrist alliance led by Monti could gain enough support in the Senate to force the PD to seek a coalition deal which could help shape the economic agenda.


BERLUSCONI IN WINGS


Senior figures from the alliance, including both the UDC party, which is close to the Roman Catholic Church, and a new group founded by Ferrari sports car chairman Luca di Montezemolo, have been hoping to gain Monti’s backing.


He has not said clearly whether he intends to run, but he has dropped heavy hints he will continue to push a reform agenda that has the backing of both Italy’s business community and its European partners.


The PD has promised to stick to the deficit reduction targets Monti has agreed with the European Union and says it will maintain the broad course he has set while putting more emphasis on reviving growth.


Berlusconi’s return to the political arena has added to the already considerable uncertainty about the centre-right’s intentions and increased the likelihood of a messy and potentially bitter election campaign.


The billionaire media tycoon has fluctuated between attacking the government’s “Germano-centric” austerity policies and promising to stand aside if Monti agrees to lead the centre right, but now appears to have settled on an anti-Monti line.


He has pledged to cut taxes and scrap a hated housing tax which Monti imposed. He has also sounded a stridently anti-German line which has at times echoed the tone of the populist 5-Star Movement headed by maverick comic Beppe Grillo.


The PD and the PDL, both of which supported Monti’s technocrat government in parliament, have made it clear they would not be happy if he ran against them and there have been foretastes of the kind of attacks he can expect.


Former centre-left prime minister Massimo D’Alema said in an interview last week that it would be “morally questionable” for Monti to run against the PD, which backed all of his reforms and which has pledged to maintain his pledges to European partners.


Berlusconi who has mounted an intensive media campaign in the past few days, echoed that criticism this week, saying Monti risked losing the credibility he has won over the past year and becoming a “little political figure”.


(Additional reporting by Gavin Jones, Massimiliano Di Giorgio and Paolo Biondi; Writing by Gavin Jones and James Mackenzie; Editing by Michael Roddy)


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BMG Scores Rights to Nirvana, Tears for Fears Songs






NEW YORK (TheWrap.com) – BMG has acquired the worldwide rights to several music catalogues, a deal that will give it songs from artists including Kurt Cobain, Tears for Fears, The Human League, Iggy Pop, and Take That.


The company announced Friday that it will purchase the rights for the Virgin Music Publishing Companies, Famous UK Music Publishing and selected current songwriters from Sony/ATV and EMI Music Publishing.






Sony Corporation of America and a group of investors acquired EMI Music Publishing in June, and Sony/ATV Music Publishing administers EMI on behalf of the group. It had to sell the catalogues as a condition of the acquisition.


Virgin Publishing’s catalogue includes Kurt Cobain‘s songs for Nirvana, including “Smells Like Teen Spirit,” “Come As You Are” and “About A Girl.”


Other hits include Jim Steinman’s “Total Eclipse Of The Heart,” Lenny Kravitz’ “Are You Gonna Go My Way,” Mark Ronson and Amy Winehouse’s “Back to Black,” and Devo’s “Whip It.”


Other songs include Take That’s greatest hits, including “Patience,” “Shine” and “Greatest Day,” as well as former member Robbie William’s interests in “Angels,” “Rock DJ” and “Let Me Entertain You.”


Also in the catalogue are Tears for Fears‘ “Everybody Rules The World,” Culture Club’s “Karma Chamelon,” OMD’s “Enola Gay,” and Iggy Pop‘s “Lust for Life,” as well as recent hits including Duffy’s “Mercy.”


BMG, the fourth-largest music publishing company, is a three-year-old partnership between Bertelsmann and Kohlberg Kravis Roberts & Co. In May, it announced it had more than one million copyrights under management.


“These catalogues contain some of the most influential and successful songs in popular music,” said BMG CEO Hartwig Masuch. “We are delighted to have won the opportunity to represent the writers of those songs and to demonstrate to them BMG‘s commitment to twenty-first century service. They have my pledge that we will do our very best to deliver for them.”


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NRA: 'Good guy with a gun' could have saved lives at Sandy Hook


The NRA's Wayne LaPierre speaks at Friday's press conference (Chip Somodevilla/Getty Images)


The National Rifle Association on Friday, a full week after the shooting at Sandy Hook Elementary School, gave its first response to the massacre that killed 20 schoolchildren in Newtown, Conn. Wayne LaPierre, the NRA's executive vice president, argued at a press conference in Washington, D.C., that gun control legislation would not prevent similar shootings and offered the organization's own proposal: a nationwide program that would place armed security in every school desiring protection.


"I call on Congress today to appropriate whatever is necessary to put armed police officers in every single school in this nation," LaPierre said. The proposed program, called the National School Shield, would help train and install security at schools nationwide under the leadership of former Arkansas Republican Rep. Asa Hutchinson.


"Innocent lives might have been spared," LaPierre said, if armed security was present at Sandy Hook. "The only thing that stops a bad guy with a gun is a good guy with a gun."


LaPierre, Hutchinson and David Keene, president of the NRA, all declined to take questions from the press and said NRA press officers won't be responding to the media until Monday.


LaPierre in part blamed mass shootings on "vicious, violent video games" such as "Bulletstorm," "Grand Theft Auto," Mortal Kombat" and  "Splatterhouse." He also reached back in time to place blame on movies like "American Psycho" and "Natural Born Killers" for portraying "life as a joke and murder as a way of life."


He added, "In a race to the bottom, media conglomerates compete with one another to shock, violate and offend every standard of civilized society by bringing an ever-more-toxic mix of reckless behavior and criminal cruelty into our homes—every minute of every day of every month of every year.”


He also criticized the media for vilifying guns and gun owners, and for publicizing inaccuracies about guns.


"Why is the idea of a gun good when it’s used to protect the president of our country or our police, but bad when it’s used to protect children in our schools?" he asked.


"It’s our duty to protect them," LaPierre said of the nation's schoolchildren. "It’s our right to protect them."


Part of the problem in protecting schools, he also said, is the designation of gun-free school zones. The zones "tell every insane killer in America that schools are the safest place to inflict maximum mayhem with minimum risk," he said.


Gun control advocates immediately decried the NRA's views as extreme and dangerous.


"Their press conference was a shameful evasion of the crisis facing our country," New York City Mayor Michael Bloomberg, an independent, said in a statement. "Instead of offering solutions to a problem they have helped create, they offered a paranoid, dystopian vision of a more dangerous and violent America where everyone is armed and no place is safe."


Bloomberg said NRA members support background checks for gun ownership because of gun violence. "As a country, we must rise above special interest politics," he added.


On Capitol Hill, Democratic Sen. Richard Blumenthal of Connecticut, who conceded that armed security could be "helpful in some instances, noted in a statement that "the NRA’s statement is sadly and shamefully inadequate—calling for more guns and rejecting real action against gun violence. At a defining, historic moment demanding courageous leadership, the NRA has declined to step forward as a credible and constructive partner."


The press conference, despite the tight security at the Willard InterContinental Hotel where it was held, was interrupted twice by gun control protesters later identified as members of anti-war group Code Pink. A man rose from the press area in front of LaPierre during his speech and held up a pink cloth displaying the words "NRA Killing Our Kids." Later, a woman identified as Code Pink founder Medea Benjamin, unfurled a sign reading "NRA blood on your hands,” and shouted, "Reckless behavior coming from the NRA" and other comments as she was dragged out of the room.


A large security staff dressed in suits and wearing earpieces lined the perimeter of the makeshift stage as well as the room. Security staffers moved to sit directly in front and behind of LaPierre following the Code Pink protests as other security members stepped forward into the seating area.


Prior to the conference, gun control protesters as well as PETA protesters and others lined the street in front of the hotel entrance waving signs and shouting.


Pressure on lawmakers from gun-control advocates has increased in the wake of the shooting. President Barack Obama on Friday released a web video in response to an outpouring of White House petitions calling on the president to respond to gun violence.


“We hear you," Obama said in the video. "I will do everything in my power as president to advance these efforts, because if there’s even one thing we can do as a country to protect our children, we have a responsibility to try. But as I said earlier this week, I can’t do it alone. I need your help.”


Obama tasked Vice President Joe Biden to review potential gun legislation and other measures on which to act next session. Biden spoke Thursday to law enforcement leaders about banning assault weapons, though no further details were released on the private discussion.


California Sen. Dianne Feinstein has pledged to introduce a new federal assault weapons ban in January and has received support from several gun-rights advocates and from the White House.


Olivier Knox contributed to this report.




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Gilead A Strong Buy On New HIV Treatments







Jordo is a member of The Motley Fool Blog Network — entries represent the personal opinions of our bloggers and are not formally edited.






Despite the expiration of some of its HIV patents in 2018, Gilead Sciences’ (NASDAQ: GILD) new HIV treatments will enable the company to extend its HIV-based profitability for the long-term.


Gilead has done well with fixed-dose combination pills Truvada and Atripla combining multiple HIV medications into a single pill. The company has been rewarded with an impressive market share in the HIV treatment market, and is now looking for the same success in the treatment of Hepatitis C. Sofosbuvir, a novel Hepatitis C drug, recently demonstrated promising results in the first of several phase 3 trials, with 78% of patients having an undetectable viral load 12 weeks following treatment.


There are two characteristics of sofosbuvir which make it a potential blockbuster. First, if approved by the FDA, it would be the first all-oral Hepatitis C treatment. Second, it avoids the use of interferon, a component of standard Hepatitis C treatments associated with unfavorable side effects. Half the patients that take interferon typically develop flu-like symptoms, and one-third develop psychiatric complications such as depression. These challenges in the current Hepatitis C treatment regiments have led to approximately one-third of patients discontinuing treatment. As an all-oral, low side-effect medication, sofosbuvir has the potential to sharply reduce this rate of non-compliance and, in doing so, establish itself as the dominant drug in the treatment of Hepatitis C in a market estimated at over $ 20 billion. Sofosbuvir is currently progressing through phase 3 trials.


Drug Pipeline


Gilead has also recently introduced another HIV drug, Stribild, that is poised to become a lead drug choice in HIV treatment. A four-drug combination pill that builds on the success of Gilead’s single-pill model, Stribild has been predicted to become the market leading HIV drug within the next decade. In addition, Gilead produces all of the component drugs within Stribild, and they would avoid the revenue sharing arrangements associated with their previous HIV medications.


Gilead has also ramped up its research into oncology drugs, with several drugs in its pipeline being tested as treatments for colorectal cancer, pancreatic cancer and a specific type of leukemia. In December, Gilead bought YM BioSciences (NYSEMKT: YMI), a Canadian company, for $ 510 million in cash, mainly to get access to the Canadian company’s research into treatments for a bone-marrow disorder. The Canadian company’s lead drug candidate, CYT387, is an orally-administered, once-daily, selective inhibitor of the Janus kinase (JAK) family, specifically JAK1 and JAK2 and combats myelofibrosis, a bone-marrow disease that can lead to anemia and an enlarged spleen. The acquisition provides Gilead with a promising treatment at a reasonable price.


Financials


Total revenues for the third quarter of 2012 increased 14% to $ 2.43 billion, from $ 2.12 billion for the third quarter of the previous year. Net income for the third quarter was $ 675.5 million, or $ 0.85 per diluted share compared to $ 741.1 million or $ 0.95 per diluted share for the third quarter of 2011. Non-GAAP net income for the third quarter of 2012, which excludes acquisition-related, restructuring and stock-based compensation expenses, was $ 788.9 million, or $ 1.00 per diluted share compared to $ 795.2 million, or $ 1.02 per diluted share for the third quarter of 2011.


As of Sept. 30, 2012, Gilead had $ 2.65 billion of cash, cash equivalents and marketable securities compared to $ 9.96 billion as of Dec. 31, 2011. The decrease was due to the acquisition of Pharmasset in the first quarter of 2012. Gilead generated $ 2.49 billion of operating cash flow during the first nine months of 2012 including $ 745.4 million generated in the third quarter of 2012.


Analyst Ratings


Zacks reiterated its neutral rating on Gilead with a price target of $ 78.00. Analysts at Guggenheim reiterated a “buy” rating on Gilead with a price target of $ 87. On Dec. 5, analysts at Oppenheimer reiterated an “outperform” rating on Gilead. On Dec. 4, 2012, Barclays Capital reaffirmed its “overweight” rating on Gilead with a price target of $ 76. On Nov. 30, Gilead had its “overweight” rating affirmed by Piper Jaffray with a price target of $ 85. On Nov. 13, analysts at Stifel Nicolaus raised their price target on Gilead from $ 80 to $ 85 with a “buy” rating. On the same date, Lazard also raised its price target on Gilead from $ 89 to $ 100 with a “buy” rating.


Competition


Gilead’s HCV candidate sofosbuvir, which was added to Gilead’s pipeline through its acquisition of Pharmasset, is now in phase 3 trials. The results put Gilead in the lead in what has become a two-horse race with Abbott Laboratories (ABT) to produce the first treatment for the disease that doesn’t include interferon with its negative side effects. In the case of CYT387 included in the recent YM BioSciences acquisition, potential rivals in the field are Incyte (INCY) and Novartis’ (NVS) JAK inhibitor Jakafi, which the FDA approved last year to combat myelofibrosis. Cell Therapeutics (CTIC) has its own midstage program focusing on the blood disease. 


Bristol-Myers Squibb (NYSE: BMY)is testing sofosbuvir plus their NS5A inhibitor daclatasvir (formerly BMS-790052). Bristol-Myers Squibb had a clinical collaboration with Pharmasset and started this trial before Gilead’s acquisition. It appears, though, that these two competing companies, notably Gilead, are not interested in conducting a phase3 study to evaluate this combination. Bristol-Myers Squibb is also evaluating multiple HCV drug candidates. The acquisition of Zymogenetics in 2010 for $ 885 million brought pegylated interferon lambda while the company acquired INX-189 (now called as BMS-986094) through the acquisition of Inhibitex in 2012 for $ 2.5 billion.


Conclusion


I have every reason to believe that Gilead is going to continue to be highly successful, and I have no hesitation in recommending this stock to investors.


Sexual Health News Headlines – Yahoo! News





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