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Stock Market & Financial Investment News

News Breaks
June 20, 2014
09:46 EDTIDIX, ACHN, MRKIdenix received bid above $18.00 per share prior to deal with Merck
In a regulatory filing, Merck (MRK) disclosed that, on June 3, the company submitted a revised proposal to acquire all of the outstanding shares of Idenix (IDIX) at a price per share of $18.00 in cash. On June 6, Centerview contacted Credit Suisse to inform Merck that its June 3rd proposal did not represent the highest price per share of any proposal received. Also on June 6, immediately following a meeting of the Idenix Board, representatives of Centerview contacted representatives of Merck to request that the company submit a best and final proposal by June 8. On June 8, Merck submitted its best and final proposal to acquire all of the outstanding shares at a price of $24.50 per share in cash, which was subsequently accepted and announced on June 9. Shares of Idenix peer Achillion Pharmaceuticals (ACHN) are up 4.7% to $8.46 in early trading following the disclosure that a bidder other than Merck had previously offered to buy Idenix for greater than $18.00 per share.
News For ACHN;IDIX;MRK From The Last 14 Days
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February 26, 2015
15:20 EDTMRKMerck says GARDASIL 9 recommended by CDC advisory committee
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09:41 EDTMRKHospira launches generic Remicade, WSJ says
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February 25, 2015
08:08 EDTMRKMerck to present new data from IMPROVE-IT, TRA 2P studies
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February 24, 2015
10:34 EDTACHNAchillion March calls active on renewed takeover chatter
Achillion March 14 and April 15 calls are active on total call volume of 1,600 contracts (100 puts) on renewed takeover chatter. February weekly call option implied volatility is at 82, March and April is at 79, June is at 81; compared to its 10-week average of 81 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
10:22 EDTACHNRumor: Achillion moves positive on renewed takeover chatter
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05:17 EDTMRKMerck collaborates with Medicines Patent Pool to expand Raltegravir access
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February 23, 2015
08:27 EDTMRKNGM Biopharmaceuticals to hold a teleconference
NGM Biopharm discusses the strategic collaboration with Merck to discover, develop and commercialize novel biologic therapeutics on a teleconference to be held on February 23 at 9:30 am. Webcast Link
07:04 EDTMRKMerck, NGM Biopharmaceuticals announce multi-year collaboration
NGM Biopharmaceuticals and Merck announced they have entered into a multi-year collaboration to research, discover, develop and commercialize novel biologic therapies across a wide range of therapeutic areas. This agreement will become effective upon the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The collaboration includes multiple drug candidates currently in preclinical development at NGM, including NP201, which is being evaluated for the treatment of diabetes, obesity and nonalcoholic steatohepatitis. NGM will lead the research and development of the existing preclinical candidates and have the autonomy to identify and pursue other discovery stage programs at its discretion. Merck will have the option to license all resulting NGM programs following human proof of concept trials. If Merck exercises this option, Merck will lead global product development and commercialization for the resulting products, if approved. Under the terms of the agreement, Merck will make an upfront payment to NGM of $94M and will purchase a 15 percent equity stake in NGM for $106M at a price per share that represents a 20% premium to NGMs most recent financing. Merck will commit up to $250M to fund all of NGMs efforts under the initial five-year term of the collaboration, with the potential for additional funding if certain conditions are met. Prior to Merck initiating a Phase 3 study for a licensed program, NGM may elect to either receive milestone and royalty payments or, in certain cases, to co-fund development and participate in a global cost and revenue share arrangement of up to 50%. The agreement also provides NGM with the option to participate in the co-promotion of any co-funded program in the United States. Merck will have the option to extend the research agreement for two additional two-year terms.
February 20, 2015
07:08 EDTMRKAmerican Academy of Allergy, Asthma and Immunology to hold annual meeting
2015 Annual Meeting of AAAAI is being held in Houston, Texas on February 20-24.
February 19, 2015
08:38 EDTMRKNewLink reports clinical development milestone achieved with Merck for rVSV-EBOV
NewLink Genetics (NLNK) announced that it had received notification from Merck (MRK) that the milestone event specified in the license and collaboration agreement between the two companies relating to the further development of the rVSV-EBOV, Ebola, vaccine candidate had been achieved. Under the terms of the agreement, NewLink Genetics will receive a payment of $20M in connection with the achievement of the milestone. The milestone pertains to the initiation of a key clinical trial for the vaccine.

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