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Stock Market & Financial Investment News

News Breaks
May 12, 2014
08:09 EDTVRX, ACTActavis announces patent challenge settlement for Acanya
Actavis (ACT) announced that it has entered into an agreement with Valeant (VRX) to settle all outstanding patent litigation related to Actavis' generic version of Acanya Gel, 1.2%/2.5%. Acanya Gel is a lincosamide antibiotic and benzoyl peroxide indicated for the topical treatment of acne vulgaris. Under the terms of the agreement, Valeant will grant Actavis a license to market its generic Acanya Gel beginning in July 1, 2018 or earlier under certain circumstances. Other details of the settlement were not disclosed. For the 12 months ending February 28, Acanya® had total U.S. sales of approximately $121M, according to IMS Health data.
News For ACT;VRX From The Last 14 Days
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June 26, 2015
16:16 EDTVRXOn The Fly: Top stock stories for Friday
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09:37 EDTVRXValeant unlikely to pursue Zoetis acquisition, CNBC's Faber says
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09:33 EDTVRXValeant made Zoetis approach as courtesy to Ackman, CNBC reports
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09:33 EDTVRXValeant not going to pursue Zoetis acquisition, CNBC's Faber reports
06:06 EDTVRXZoetis downgraded to Market Perform from Outperform at BMO Capital
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06:02 EDTVRXJPMorgan assumes Valeant pays $60/share for Zoetis
JPMorgan analyst Chris Schott believes Zoetis (ZTS) would bring "an attractive, durable, cash-pay business" to Valeant's portfolio should a merger occur. The Wall Street Journal last night reported that Valeant has approached Zoetis regarding a potential takeover. Schott sees the deal being minimally accretive to near-term earnings, and assumes Valeant pays $60 per share for Zoetis, or a 20% premium to Wednesday's closing price. The analyst thinks any offer would include a substantial equity component given Valeant's levered balance sheet following the Salix acquisition. Schott keeps an Overweight rating on Valeant and a Neutral rating on Zoetis.
June 25, 2015
16:13 EDTVRXValeant made preliminary takeover approach to Zoetis, WSJ reports
Valeant Pharmaceuticals (VRX) made a preliminary approach regarding a potential deal to buy Zoetis (ZTS), said The Wall Street Journal, citing people familiar with the matter. The report said it was not clear if Zoetis is open to a sale or what was the company’s reaction to the approach. Zoetis share spiked more than 11% into the close following the report and are up another 1% to $55.95 in after hours trading. Reference Link
15:58 EDTVRXZoetis jumps 11%, halted for circuit breaker after report of Valeant approach
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15:57 EDTVRXValeant made preliminary takeover approach to Zoetis, DJ reports
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June 23, 2015
09:20 EDTVRXValeant and Progenics announces submission of NDA to FDA for RELISTOR
Valeant Pharmaceuticals International (VRX) and Progenics Pharmaceuticals (PGNX) announced that Valeant submitted a New Drug Application, or NDA, to the FDA for RELISTOR, or methylnaltrexone bromide, Tablets for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain.
07:25 EDTVRXPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.

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