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Stock Market & Financial Investment News

News Breaks
June 26, 2014
08:02 EDTABBV, SHPGAbbVie can raise cash portion of Shire offer by 77%, says BMO Capital
BMO Capital estimates that AbbVie (ABBV) can increase the cash portion of its offer for Shire (SHPG) by as much as about 77%. If Shire does raise its bid by that amount, the deal would still be about 6% accretive in 2015 and 15% accretive in 2016, according to the firm. BMO Capital thinks there is a good chance that the deal will occur. It raised its price target on Abbvie to $68 from $60 and keeps an Outperform rating on the shares.
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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.
August 18, 2014
07:57 EDTSHPGCambridge Healthtech Institute to hold a summit
6th Annual Bioprocessing Summit to be held in Boston on August 18-22.
August 14, 2014
17:16 EDTSHPGPaulson & Co gives quarterly update on stakes
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