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News For ACT;TEVA;ENDP;COV;ABT From The Last 14 Days Check below for free stories on ACT;TEVA;ENDP;COV;ABT the last two weeks. |
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| May 24, 2013 |
| 16:07 EDT |  | ACT | Actavis confirms appeal court issues injunction related to Resupules
Actavis (ACT) confirmed that the United States Court of Appeals for the Federal Circuit has granted a motion by AstraZeneca (AZN) to enjoin Actavis from further distribution of its generic version of AstraZeneca's Pulmicort Respules 0.25, 0.5 mg products, pending resolution of AstraZeneca's appeal before the court. |
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| 07:05 EDT | | COV | Covidien approves separation of Pharma business, declares Mallinckrodt dividend
Covidien announced that its board of directors has approved the separation of the Pharmaceuticals business from the rest of Covidien. For every eight ordinary shares of Covidien held, Covidien shareholders will receive one ordinary share of Mallinckrodt plc. No fractional shares of Mallinckrodt will be issued. Shareholders will receive cash in lieu of fractional shares. The distribution is expected to occur on June 28, to Covidien shareholders of record as of the close of business on June 19. After the distribution, Mallinckrodt will be an independent publicly traded company and Covidien will retain no ownership interest in Mallinckrodt. Mallinckrodt ordinary shares are expected to begin “regular way” trading on July 1, on the New York Stock Exchange under the ticker symbol "MNK." Covidien will continue to trade on the NYSE under the ticker symbol "COV." Covidien currently expects that “when-issued” trading for both Mallinckrodt and Covidien on the NYSE will begin on June 17. |
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| 07:01 EDT | | COV | Covidien approves separation of Pharma business, declares Mallinckrodt dividend
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| May 23, 2013 |
| 11:55 EDT |  | ACT | Options with decreasing implied volatility: AEGR PXP AMRN DSX ACT
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| May 22, 2013 |
| 16:23 EDT | | TEVA | Alexza Pharmaceuticals chief commercial officer to leave company
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| 07:28 EDT |  | ABT | UBS to host a conference
Global Healthcare Services Conference is being held in New York on May 20-22 with webcasted company presentations to begin on May 22 at 8 am; not all company presentations may be webcasted. Webcast Link |
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| 07:00 EDT | | COV | Covidien announces positive results from clinical trial on endoscopic therapy
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| May 21, 2013 |
| 08:03 EDT | | ABT | Abbott announces CE Mark for coronary drug eluting stent
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| May 20, 2013 |
| 16:51 EDT | | ACT | Actavis, Warner Chilcott deal includes $160M termination fee
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| 16:22 EDT |  | ACT | On The Fly: Closing Wrap
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| 14:27 EDT |  | ACT | Actavis price target raised to $140 from $101 at Morgan Stanley
Morgan Stanley raised Actavis's price target to $140 due to Warner Chilcott (WCRX) deal accretion. Shares are Overweight rated. |
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| 13:06 EDT | | ACT | On The Fly: Midday Wrap
Stocks on Wall Street were modestly higher at midday as the Dow and S&P seek to continue their march higher after closing last week at record levels. ECONOMIC EVENTS: In the U.S., the light domestic economic calendar included the Chicago Fed National Activity index, which slipped to -0.53 for April from its prior reading of -0.23. In Asia, the Hang Seng and Shanghai Composite both climbed after Chinese home prices were reported to have risen in April. COMPANY NEWS: Yahoo (YHOO) confirmed it is buying social media platform Tumblr for $1.1B, as widely reported over the weekend, and promised "not to screw it up" in its press release to announce the deal... Actavis (ACT) agreed to acquire Warner Chilcott (WCRX) in a stock-for-stock transaction valued at approximately $8.5B. The deal, which was approved by the boards of both companies, equates to a value of $20.08 per Warner Chilcott share based on Actavis' closing share price on Friday, the companies said. MAJOR MOVERS: Among the notable gainers were some other companies with M&A news: Acquity Group (AQ) shares more than doubled after Accenture (ACN) agreed to buy the company for $13.00 per American Depositary Share, and Pactera Technology (PACT) gained 31% after receiving a non-binding proposal from a Blackstone (BX) affiliate to be taken private for $7.50 per ADS. Among the noteworthy losers was XenoPort (XNPT), which fell 11% after one of its drugs failed in a Phase III trial for multiple sclerosis spasticity. Also lower were shares of Red Hat (RHT), which slid 4% following a downgrade to Market Perform at BMO Capital. INDICES: Near 1 pm ET, the Dow was up 13.67, or 0.09%, to 15,368.07; the Nasdaq was up 1.13, or 0.03%, to 3,500.10; and the S&P 500 was up 2.18, or 0.13%, to 1,669.65. |
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| 11:27 EDT | | TEVA | Appeals court reverses, remands patent ruling in Sanofi suit against Mylan, Teva
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| 11:16 EDT | | ACT | Actavis, Warner Chilcott company worth $128 per share, says Leerink
Leerink estimates the value of the combined Actavis (ACT) and Warner Chilcott (WCRX) company at $128 per share. The firm sees some upside for shareholders of the new company should Warner Chilcott's brands prove durable in 2014. Leerink has a Market Perform on shares of Actavis. |
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| 10:43 EDT | | ACT | Actavis price target rasied to $145 from $124 at BMO Capital
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| 10:11 EDT |  | ABT | On The Fly: Analyst Upgrade Summary
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| 09:57 EDT | | ACT | Actavis hosted a conference call
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| 09:26 EDT | | ACT | On The Fly: Pre-market Movers
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| 08:05 EDT | | COV | Covidien receives FDA 510(k) clearance for Nellcor pulse oximetry motion claims
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| 07:21 EDT | | ACT | Warner Chilcott volatility elevated into Actavis acquiring for $8.5B
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| 07:11 EDT | | ACT | Actavis to acquire Warner Chilcott for $8.5B in stock
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| 07:08 EDT | | ACT | Actavis to acquire Warner Chilcott in $8.5B stock-for-stock transaction
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| 06:01 EDT | | ABT | Abbott upgraded to Buy from Neutral at Goldman
Goldman upgraded Abbott to reflect accelerating growth driven by emerging markets, better growth and product mix, new product launches, and market share gains. Price target raised to $44 from $38. |
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| May 17, 2013 |
| 14:48 EDT |  | ACT | Actavis may bid for Warner Chilcott to ward off takeover, Reuters says
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| 13:56 EDT | | ACT | Actavis may purchase Warner Chilcott as takeover defense, Reuters reports
Over past few weeks, Actavis (ACT) has "spurned approaches" from Valeant (VRX) and Mylan (MYL), and has instead pursued a bid for Warner Chilcott (WCRX), according to Reuters, citing people familiar with the situation. |
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| 11:53 EDT | | ENDP | Options with decreasing implied volatility: SGMO ARNA CSC ENDP
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| May 16, 2013 |
| 10:03 EDT | | ENDP | On The Fly: Analyst Upgrade Summary
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| 08:27 EDT | | ENDP | Endo Health upgraded to Buy from Neutral at Buckingham
Buckingham upgraded Endo Health based on attractive risk/reward and expectations for a more detailed strategy from the new CEO, maybe by Q2 results. Price target remains $41. |
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| 08:11 EDT | | ACT | Novartis says no intention of pursuing Actavis, Bloomberg reports
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| 07:46 EDT | | ACT | Jefferies sees high probability of Actavis, Warner Chilcott merger
Jefferies believes a takeover of Warner Chilcott (WCRX) by Actavis (ACT) would make strategic and financial sense and would be significantly accretive to Actavis. The firm sees a high probability of a deal getting done and raised its price target for Actavis to $120 from $81 while keeping a Hold rating on the name. Jefferies estimates a deal at $24 per Warner Chilcott share would be accretive to Actavis' 2014 earnings by $5.31. |
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| 07:28 EDT | | COV | I/O Central to host a conference
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| May 15, 2013 |
| 19:37 EDT | | ACT | Novartis weighing Actavis bid, WSJ reports
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| 18:17 EDT | | ACT | Novartis weighs possible bid for Actavis, DJ reports
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| 07:03 EDT | | ACT | Mylan highly unlikely to acquire Actavis, says Barclays
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| May 14, 2013 |
| 13:55 EDT | | ACT | Actavis weighing over $5B bid for Warner Chilcott, snubbed Mylan, Bloomberg says
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| 13:36 EDT | | ACT | Actavis discussing over $5B bid for Warner Chilcott, Bloomberg reports
Bloomberg cites a source. |
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| 13:22 EDT | | ACT | Actavis turned down $15B takeover bid from Mylan, Bloomberg reports
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| 07:18 EDT | | ACT | BofA/Merrill to host a conference
2013 Health Care Conference is being held in Las Vegas on May 14-16. |
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| May 13, 2013 |
| 12:14 EDT | | ACT | Actavis price target raised to $140 from $125 at Buckingham
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| 09:44 EDT | | TEVA | Several companies reportedly interested in buying Adcock Ingram, Globes says
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| 09:27 EDT |  | ENDP | Endo Health downgraded to Market Perform from Outperform at William Blair
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| 09:25 EDT | | ENDP | On The Fly: Pre-market Movers
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| 09:04 EDT | | ACT | Actavis NDA for progestin-only patch accepted for filing by FDA
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| 09:04 EDT |  | ENDP | Endo Health falls 4.8%
Endo Health is down 4.8%, or $1.67, to $33.30 |
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| 09:00 EDT | | ACT | Warner Chilcott price target raised to $21 from $18 at Susquehanna
Susquehanna raised its price target on Warner Chilcott (WCRX) following its confirmation it is in discussions with Actavis (ACT) about a business combination. The firm believes the possible combination is compelling and worth exploring. Shares are Positive rated. |
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| 08:13 EDT | | ENDP | Endo Health price target lowered to $31 from $35 at Susquehanna
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| 07:49 EDT | | ENDP, TEVA, ACT | FDA decision on Opana a modest positive for Impax, says Leerink
Leerink views the FDA's denial of Endo's (ENDP) Citizen Petition as a modest positive for Impax (IPXL), which it notes is the sole holder of 180 day exclusivity on generic Opana. However, Leerink says upside for Impax will be limited as Actavis (ACT), Sandoz, and Teva (TEVA) have settlements to enter the market starting in June 2013 when Impax's 180-day generic exclusivity expires. |
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| 07:45 EDT | | ENDP | Endo Health price target lowered to $36 from $42 at Stifel
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| 07:32 EDT | | ENDP | Endo Health downgraded to Sell from Neutral at Lazard Capital
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| 07:20 EDT | | ENDP | Endo Health price target lowered to $37 from $47 at Jefferies
Jefferies lowered its price target for Endo Health after the FDA ruled that crushable Opana generics can come to market. The firm keeps a Buy rating on the stock, saying the company's spending flexibility is underappreciated. |
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| 06:48 EDT | | ENDP | Endo Health downgraded to Fair Value from Buy at CRT Capital
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