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Stock Market & Financial Investment News

News Breaks
January 18, 2013
09:04 EDTABT, ABBVCHMP adopts positive opinion recommending Abbott's Humira
The European Medicine Agency's Committee for Medicinal Products for Human Use adopted a positive opinion recommending a variation to the terms of the marketing authorization for Abbott's Humira. Humira in combination with methotrexate is indicated for the treatment of active polyarticular juvenile idiopathic arthritis, in children and adolescents aged 2 to 17 years who have had an inadequate response to one or more disease-modifying anti-rheumatic drugs.Reference Link
News For ABT;ABBV From The Last 14 Days
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October 21, 2014
09:52 EDTABBVCovidien rises after Medtronic maintains merger date language
Shares of Covidien (COV) are rising in early trading after Medtronic (MDT), in its latest regulatory filing answering questions for shareholders regarding its proposed takeover of the Irish drugmaker, left its language regarding the expected closing date unchanged. WHAT'S NEW: In its most recent filing, Medtronic again stated, "As of the date of this joint proxy statement/prospectus, the transaction is expected to be completed late in the fourth calendar quarter of 2014 or early 2015. However, no assurance can be provided as to when or if the transaction will be completed. The required vote of Medtronic and Covidien shareholders to adopt the required shareholder proposals at their respective special meetings, as well as the necessary regulatory consents and approvals, must first be obtained and other conditions specified in the conditions appendix must be satisfied or, to the extent applicable, waived." ANALYST REACTION: Research firm BTIG says Medtronic's amended regulatory filing on the Covidien transaction increases the firm's confidence of the deal closing by early 2015. The firm adds it would be "stunned" to see Medtronic walk away from the merger after the company again showed commitment to the acquisition. WHAT'S NOTABLE: AbbVie (ABBV) last night confirmed that the company and Shire (SHPG), another Irish domiciled drugmaker, agreed to terminate their proposed merger. AbbVie said its decision was based upon its assessment of the September 22 notice issued by the U.S. Department of Treasury, which re-interpreted longstanding tax principles in a "uniquely selective manner designed specifically to destroy the financial benefits of these types of transactions." AbbVie continued that the Treasury notice "introduced an unacceptable level of risk and uncertainty given the magnitude of the proposed changes" and the stated intention of the department to continue to revise tax principles to further impact such "tax inversion" transactions. AbbVie noted that it has agreed to pay Shire a break fee of approximately $1.64B due to the deal falling through. PRICE ACTION: In early trading, shares of Covidien trading in New York rose 4% to $88.86, Medtronic advanced 1% to $64.57, Shires gained 0.7% to $185.82 and AbbVie added 1.4% to $55.16.
09:48 EDTABBVShire could target BioMarin, TheStreet's Feuerstein says
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07:44 EDTABTAbbott volatility elevated into Q3 and outlook
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06:34 EDTABBVAbbVie downgraded to Neutral from Buy at Guggenheim
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October 20, 2014
18:51 EDTABBVOn The Fly: After Hours Movers
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18:49 EDTABBVEnanta will not exercise co-development option for ABT-493
Enanta Pharmaceuticals (ENTA) announced that it has decided not to exercise its co-development option for ABT-493, Enanta’s next-generation protease inhibitor for hepatitis C virus, or HCV, being developed in Enanta’s collaboration with AbbVie (ABBV). Per the original collaboration agreement signed in December 2006, Enanta will be eligible for certain regulatory approval milestones as well as royalties on net sales allocable to ABT-493 from worldwide sales of any ABT-493-containing regimens. Enanta also announced that it has reached agreement with AbbVie regarding the net sales allocations for royalty calculations for ABT-450-containing regimens, as well as any regimens containing ABT-493. ABT-450 is the first clinical-stage protease inhibitor candidate developed within the Enanta-AbbVie collaboration, and ABT-493 is the second.
17:34 EDTABBVAbbVie announces new $5B stock repurchase program, raises dividend nearly 17%
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17:33 EDTABBVAbbVie announces new $5B stock repurchase program, raises dividend
17:26 EDTABBVShire down 1% following termination of merger with AbbVie
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17:17 EDTABBVAbbVie to pay Shire $1.64B break fee
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17:16 EDTABBVAbbVie, Shire announce termination of proposed merger
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17:14 EDTABBVAbbVie, Shire announce termination of proposed merger
07:47 EDTABBVPfizer less likely to renew Astra pursuit after Shire deal breakdown, FT says
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07:11 EDTABBVAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
06:56 EDTABBVShire reopens acquistion talks with NPS Pharmaceuticals, Cubist, Telegraph says
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October 17, 2014
16:55 EDTABBVStocks end volatile week lower amid oil price plunge
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10:00 EDTABBVOn The Fly: Analyst Initiation Summary
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08:47 EDTABBVAbbVie initiated with a Buy at ISI Group
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07:07 EDTABBVShire may be buyer instead of target if AbbVie deal breaks, WSJ says
Assuming AbbVie's (ABBV) deal to buy Shire (SHPG) gets cancelled, which appears likely at this point, many analysts and investors believe Shire will become a buyer and Leerink Partners estimates the company could have $10B to use for a takeover deal, reported The Wall Street Journal. AbbVie will also be likely to look for other deals and could be forced to pay up for them, as its top seller, Humira, moves closer to losing patent exclusivity, the Journal said, citing analysts. Reference Link
05:55 EDTABBVStocks with implied volatility movement; ABBV CSX
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