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Stock Market & Financial Investment News

News Breaks
May 12, 2014
08:56 EDTFRX, ACTActavis upgraded at RBC Capital
As noted earlier, RBC Capital upgraded Actavis (ACT) to Top Pick from Outperform. The firm thinks the stock is well-positioned ahead of the closing of the company's acquisition of Forest Labs (FRX) mid-year, as it expects the combined company guidance to be an important catalyst. Target to $259 from $252.
News For ACT;FRX From The Last 14 Days
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May 22, 2015
16:07 EDTACTActavis confirms court ruling requiring continued distribution of NAMENDA IR
Actavis confirmed that a panel of the U.S. Court of Appeals for the Second Circuit has issued a ruling upholding a December 15, 2014 preliminary injunction requiring the company to continue distribution of NAMENDA immediate-release tablets. Actavis noted that the company will continue to manage sales and R&D expenses to ensure that the Appeals court's decision will have minimal to no impact on its 2015 NAMENDA franchise contribution to earnings and longer term company earnings aspirations.
13:19 EDTACTNY AG says ruling on Actavis Alzheimer’s drug a victory for patients
New York Attorney General Eric Schneiderman, following a decision by the U.S. Court of Appeals for the Second Circuit to affirm the federal district court decision granting New York’s motion for a preliminary injunction against defendants Actavis and Forest Laboratories, stated: "Today’s appeals court decision is a sweeping victory for consumers and Alzheimer’s patients. Our lawsuit and the court’s injunction protect competition and prevent Actavis from coercing Alzheimer’s patients into taking drugs they do not want in order to charge them monopoly prices...My office will continue to protect New Yorkers from anticompetitive practices by drug manufacturers.”
11:26 EDTACTCourt rules Actavis can't pull Alzheimer's drug for pricer new one, Reuters says
A three-judge panel of a New York appeals court upheld a prior order requiring Actavis to keep the older version of its Alzheimer's drug, Namenda IR, on the market following the company's launch of a more expensive extended-release version, reported Reuters. Reference Link
11:23 EDTACTCourt rules Actavis can't pull Alzheimer's drug for pricer new one, Reuters says
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10:52 EDTACTJPMorgan says Actavis shares cheap compared to peers
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07:44 EDTACTActavis trades at over 20% discount to Major Pharma, says JPMorgan
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May 18, 2015
11:21 EDTACTAckman sold out of Actavis stake after Q1 report, NY Post says
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08:01 EDTACTActavis launches Namzaric to treat moderate to severe Alzheimer's
Actavis announced that NAMZARIC, a once-daily, fixed-dose combination of memantine hydrochloride extended-release, and donepezil hydrochloride, is now available to patients and healthcare professionals across the United States. NAMZARIC was approved by the FDA in December for the treatment of moderate to severe Alzheimer's disease in patients stabilized on memantine hydrochloride and donepezil hydrochloride.
07:22 EDTACTUBS to hold a conference
Global Healthcare Conference is being held in New York on May 18-20 with webcasted company presentations to begin on May 18 at 8 am; not all company presentations may be webcasted. Webcast Link
07:15 EDTACTPhysician feedback on Actavis Eluxadoline positive, says RBC Capital
After conducting a survey, RBC Capital says that physician enthusiasm about Actavis' Eluxadoline is high ahead of its expected early 2016 launch. The firm thinks the drug could be an important P&L driver for the company and keeps a Top Pick rating on the shares.
06:58 EDTACTActavis CEO says chances of Pfizer offer are 'unlikely', Financial Times says
Actavis (ACT) CEO Brent Saunders said the chances of Pfizer (PFE) making an offer are "incredibly unlikely," reports the Financial Times. Saunders said he has heard the gossip that Actavis could become a takeover target for a larger group, but he spends "zero time thinking about it." Reference Link
May 15, 2015
17:15 EDTACTPaulson & Co. gives quarterly update on stakes
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17:03 EDTACTPershing Square gives quarterly update on stakes
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14:51 EDTACTMylan ANDA for generic version of Lexapro approved by FDA
The ANDA from Mylan (MYL) for a generic version of Escitalopram Oxalate, which is sold under the trade name Lexapro by Actavis' (ACT) Forest Labs, was approved by the FDA on May 14, according to a post to the regulator's site. Reference Link
12:13 EDTACTThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
09:29 EDTACTActavis: Warner Chilcott has held talks with DOJ over sales tactics, WSJ says
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08:30 EDTACTActavis price target raised to $360 from $325 at Susquehanna
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May 13, 2015
16:39 EDTACTAdamas Pharmaceuticals sees Namzaric launching in coming months
During its Q1 earnings report, Adamas (ADMS) stated, "In the coming months, we look forward to expanding our wholly-owned product pipeline with the initiation of a phase 2 clinical trial of ADS-5102 for a second CNS-related indication, completing enrollment in one of two ongoing phase 3 trials assessing ADS-5102 for the treatment of LID, and the U.S. launch of Namzaric by our collaborator, Actavis (ACT)."

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