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Stock Market & Financial Investment News

News Breaks
March 4, 2013
13:25 EDTACAD, ACAD, CYTK, CYTK, GILD, GILD, SHPG, SHPG, SNY, SNY, ACOR, ACOR, ALXN, ALXN, FURX, FURX, THLD, THLDCowen to host a conference
33rd Annual Health Care Conference is being held in Boston on March 4-6 with webcasted company presentations to begin on March 4 at 1:30 pm; not all company presentations may be webcasted. Webcast Link
News For ACAD;CYTK;GILD;SHPG;SNY;ACOR;ALXN;FURX;THLD From The Last 14 Days
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October 20, 2014
07:19 EDTSNY, ALXN, SHPGIBC Life Sciences to hold a conference
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07:16 EDTSHPGAmerican Academy of Ophthalmology to hold annual meeting
AAO Annual Meeting 2014 is being held in Chicago on October 18-21.
07:15 EDTSHPGAmerican Academy of Child & Adolescent Psychiatry to hold annual meeting
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07:10 EDTALXN, SNY, SHPGAmerican Society of Human Genetics to hold annual meeting
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07:02 EDTSNYRegeneron Sanofi begins dosing in Phase 3 study of dupilumab
Regeneron Pharmaceuticals (REGN) and Sanofi (SNY) announced that the first patients have been dosed in a Phase 3 clinical study of dupilumab, an investigational therapy that blocks IL-4 and IL-13 signaling, in adults with moderate-to-severe atopic dermatitis, or AD, that is not adequately controlled with topical AD medications. LIBERTY AD CHRONOS, the first trial in the Phase 3 clinical program for dupilumab, is a randomized, double-blind, placebo-controlled, multi-national study with the primary objective of demonstrating the efficacy of dupilumab in adults with moderate to severe AD when administered concomitantly with topical corticosteroids through 16 weeks.
06:56 EDTSHPGShire reopens acquistion talks with NPS Pharmaceuticals, Cubist, Telegraph says
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05:29 EDTSHPGShire Interim CFO James Bowling to step down
Shire plc announces that James Bowling, Interim CFO, has notified the board of his decision to step down from his current role to pursue a new career opportunity as CFO of Severn Trent plc. James will leave Shire at the end of 1Q15 and the company will commence a search for a new CFO immediately.
October 17, 2014
16:55 EDTSHPGStocks end volatile week lower amid oil price plunge
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16:01 EDTGILDOptions Update; October 17, 2014
iPath S&P 500 VIX Short-Term Futures down 1.75 to 38.58 Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX GILD CLF PBR according to Track Data.
09:38 EDTGILDActive equity options trading on
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09:06 EDTSNYAmgen files patent infringement lawsuit against Sanofi, Regeneron
Amgen (AMGN) announced that it filed a lawsuit in the United States District Court of Delaware against Sanofi (SNY), Aventisub, formerly doing business as Aventis Pharmaceuticals, and Regeneron Pharmaceuticals (REGN) for patent infringement of U.S. Patent Numbers 8,563,698, 8,829,165, and 8,859,741. These patents, which are owned by Amgen, describe and claim monoclonal antibodies to proprotein convertase subtilisin/kexin type 9, or PCSK9. By its complaint, Amgen seeks an injunction to prevent the infringing manufacture, use and sale of Sanofi and Regeneron's alirocumab, a monoclonal antibody targeting PCSK9. Sanofi and Regeneron recently announced that they have completed Phase 3 clinical trials on alirocumab and intend to pursue regulatory approval to market alirocumab in the U.S. Amgen previously announced submission of a Biologics License Application to the FDA for evolocumab, its own investigational human monoclonal antibody to PCSK9, for the treatment of high cholesterol, on Aug. 28.
07:07 EDTSHPGShire 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
October 16, 2014
16:29 EDTSHPGShire price target lowered to $198 from $278 at Leerink
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13:31 EDTGILDGilead announces Harvoni Notice of Compliance from Health Canada
Gilead Sciences announced that Health Canada has issued a Notice of Compliance for Harvoni. Harvoni combines the NS5A inhibitor ledipasvir with the nucleotide analog polymerase inhibitor sofosbuvir, granted marketing authorization under the tradename Sovaldi in December 2013. The efficacy of Harvoni has been established in patients with chronic hepatitis C virus genotype 1 infection, with a treatment duration of eight, 12 or 24 weeks depending on prior treatment history, cirrhosis status and baseline viral load. Eight weeks of treatment with Harvoni can be considered for treatment-naive patients without cirrhosis who have baseline HCV viral load below 6M IU/mL. New Drug Submission applications are pending in Australia and New Zealand.
08:52 EDTSHPGAbbVie price target lowered to $59 from $71 at BMO Capital
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08:19 EDTSNYSanofi Pasteur, Immune Design enter collaboration HSV therapy
Immune Design (IMDZ) announced that it has entered into a broad collaboration for the development of a herpes simplex virus, or HSV, immune therapy with Sanofi Pasteur, the vaccines division of Sanofi (SNY). Sanofi Pasteur and Immune Design will each contribute product candidates to the collaboration: Sanofi Pasteur will contribute HSV-529, a clinical-stage replication-defective HSV vaccine product candidate, and Immune Design will contribute G103, its preclinical trivalent vaccine product candidate. The collaboration will explore the potential of various combinations of agents, including leveraging Immune Design's GLAASTM platform, with the goal to select the best potential immune therapy for patients. The two companies will develop the products jointly through Phase 2 clinical trials, at which point Sanofi Pasteur intends to continue development of the most promising candidate and be responsible for commercialization. Sanofi Pasteur will bear the costs of all preclinical and clinical development, with Immune Design providing a specific formulation of GLA from the GLAAS platform at its cost through Phase 2 studies. Immune Design will be eligible to receive future milestone and royalty payments on any product developed from the collaboration; other financial terms of the agreement have not been disclosed.
06:17 EDTSHPGJefferies says Medtronic 'needs to do' Covidien takeover
Jefferies says it "can't see how Medtronic walks" from the Covidien (COV) takeover given how compelling the merger is. The firm confirmed with Medtronic (MDT) that nothing has changed in the company's commitment to the deal since new financing terms were announced on October 3. In Jefferies view, "Medtronic needs to do this deal." It notes the spread on the acquisition widened significantly on the news that Abbvie (ABBV) is reconsidering its acquisition of Shire (SHPG).
05:50 EDTSHPGStocks with implied volatility movement; SHPG SIRI
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05:37 EDTSHPGShire releases statement regarding AbbVie withdrawal of recommendation
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05:21 EDTSHPGAbbVie recommends holders vote against Shire transaction
Following Shire's (SHPG) waiver of the three-day notice period, AbbVie (ABBV) announces its board withdraws its recommendation made on July 18 regarding the proposed Shire transaction and recommends that stockholders vote against the transaction. AbbVie and its board made this determination following a detailed consideration of the impact of the U.S. Department of Treasury's unilateral changes to the tax rules, as issued on September 22. The breadth and scope of the changes, including the unexpected nature of the exercise of administrative authority to impact longstanding tax principles, and to target specifically a subset of companies that would be treated differently than either other inverted companies or foreign domiciled entities, introduced an unacceptable level of uncertainty to the transaction. Additionally, the changes eliminated certain of the financial benefits of the transaction, most notably the ability to access current and future global cash flows in a tax efficient manner as originally contemplated in the transaction. This fundamentally changed the implied value of Shire to AbbVie in a significant manner. Under the conditions of AbbVie's offer and the terms of the Co-operation Agreement, the withdrawal of the recommendation alone will not cause a lapse of AbbVie's offer or terminate the Co-operation Agreement between AbbVie and Shire. Unless Shire and the U.K. Takeover Panel agree otherwise, AbbVie must convene an AbbVie stockholder meeting to consider the adoption of the U.S. merger agreement. AbbVie's offer will lapse if the company's stockholders do not adopt the agreement. Assuming Shire provides the requisite cooperation and consents, a pre-effective amendment to the registration statement filed by AbbVie Private Limited in connection with the combination is expected to be filed with the SEC as soon as practicable. Under the terms of the Co-operation Agreement, following the withdrawal of the AbbVie Board of Directors' recommendation, a break fee of approximately $1.64B will be payable to Shire if either: AbbVie stockholders do not approve the adoption of the U.S. merger agreement at an AbbVie stockholder meeting; or such a meeting does not occur by December 14.
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