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Stock Market & Financial Investment News

News Breaks
June 22, 2014
20:56 EDTABBV, SHPGAbbVie looks to diversify product mix with Shire offer, Bloomberg says
With AbbVie's (ABBV) $46.5B bid for Dublin based for Shire (SHPG), Richard Gonzalez, the AbbVie CEO is looking to diversify his company's product mix which is currently largely dependent on arthritis medicine Humira, says Bloomberg. Reference Link
News For ABBV;SHPG From The Last 14 Days
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September 2, 2014
07:12 EDTABBVCredit Suisse names its Top U.S. Pharmaceutical picks for 2H
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06:36 EDTABBVMedtronic, AbbVie reimburse executives for inversion-triggered taxes, WSJ says
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August 27, 2014
17:49 EDTSHPGGSK, Shire rumored to be interested in Tekmira, Daily Mail says
GlaxoSmithKline (GSK) and Shire (SHPG) are rumored to be interested in a bid for Tekmira (TKMR), reports Daily Mail. Tekmira could be a value to potential suitors, capitalized at approximately GBP 400M and the company could cost over GBP 1B in a takeover, Daily Mail adds. Reference Link
August 21, 2014
15:16 EDTABBVDEA restricts painkiller drug prescriptions to curb abuse, WSJ reports
The Drug Enforcement Agency, or DEA, will reclassify hydrocodone combination painkiller drugs and place them in the category of medical substances that have the highest potential for harm in an attempt to curb the widespread abuse of the drugs, according to The Wall Street Journal. The rescheduling of the drugs will take effect in 45 days and result in people being able to obtain the drug for only 90 days without obtaining a new prescription. Major manufacturers of these drugs include Teva Pharmaceutical (TEVA), Mallinckrodt (MNK), AbbVie (ABBV), and Actavis (ACT). Reference Link
07:57 EDTABBVGilead HCV risks overblown, says Bernstein
Bernstein believes that investors are concerned about upcoming competition to Gilead's (GILD) HCV drug from AbbVie's (ABBV) HCV treatment. But Bernstein says that insurers can only prevent 16% of the U.S. population from receiving Gilead's drug, and the firm does not expect the HCV market share dynamics to change in the near-term. It keeps an Outperform rating on Gilead.

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