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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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November 13, 2014
07:23 EDTACT, VRXValeant wooing doctors ahead of hoped for Allergan acquisition, WSJ says
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November 12, 2014
10:09 EDTACT, VRXActavis in talks to buy Allergan for over $200 per share, Bloomberg says
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10:01 EDTACTActavis in talks to buy Allergan for $60B, more than $200/share Bloomberg says
Actavis (ACT) is said to seek to pay about $200 per share, but Allergan (AGN) seeks about $210 per share, according to Bloomberg.
06:22 EDTVRXZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
November 11, 2014
16:24 EDTVRXOn The Fly: Closing Wrap
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15:46 EDTVRXPershing Square, Sachem Head build 10% stake in Zoetis, WSJ reports
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08:32 EDTVRX, ACTValeant likely to raise offer for Allergan again, says Bernstein
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November 10, 2014
16:34 EDTACTActavis appoints Maria Teresa Hilado as CFO
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November 9, 2014
13:26 EDTVRXAckman's Allergan court win may prove costly down the road, Bloomberg says
When U.S. District Court Judge David Carter ruled on November 4 that Pershing Square can vote its 9.7% stake in Allergan (AGN) in a shareholder ballot aiming to remove Allergan directors, he also noted that there were “serious questions” regarding insider trading rules in the way Pershing Square acquired Allergan stock while preparing a bid with Valeant (VRX), says Bloomberg. Reference Link
November 7, 2014
17:05 EDTVRXValeant sends open letter to physician customers
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14:56 EDTVRXAllergan says Valeant offers to date inadequate, would consider increased bid
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09:49 EDTACT, VRXAckman says Allergan 'tipping scales' in Actavis’ favor, disadvantaging Valeant
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November 6, 2014
10:30 EDTVRX, ACTAllergan disclosure today forced by SEC, CNBC's Faber reports
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10:05 EDTACTActavis talks to buy Salix put on hold, Bloomberg says
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09:28 EDTACT, VRXActavis in active talks to acquire Allergan, Bloomberg reports
Actavis (ACT) is in active talks to acquire Allergan (AGN), Bloomberg reports, citing sources. Allergan earlier today disclosed in a filing that it has been approached by another party and that talks "may lead to negotiations." Shares of Allergan are up 1.1% to $198.50 in pre-open trading while Actavis is up 1% to $250.07. Valeant (VRX) is down 1.8% to $129.58. Reference Link
09:24 EDTACT, VRXActavis in active talks to acquire Allergan, Bloomberg reports
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09:22 EDTACTActavis price target raised to $290 from $270 at Susquehanna
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09:06 EDTVRX, ACTAllergan says approach may lead to merger negotiations
Allergan (AGN) disclosed in new regulatory filing, “Notwithstanding the foregoing, we have been approached by another party regarding a potential merger transaction. Discussions between us and that party have continued and may lead to negotiations.” It has been reported that the unnamed party is Actavis (ACT). Allergan is attempting to fend off a hostile takeover by Valeant (VRX).
07:54 EDTACTActavis pipeline remains under-appreciated, says UBS
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07:52 EDTACTActavis price target raised to $290 from $260 at Leerink
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