News Breaks |
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| March 1, 2013 |
| 09:30 EDT |  | ACT | Actavis confirms generic Fortesta patent challenge
Actavis confirmed that it has filed an Abbreviated New Drug Application (ANDA) with the FDA seeking approval to market Testosterone gel 10mg/0.5g. Actavis' ANDA product is a generic version of Endo Pharmaceuticals' Fortesta, which is indicated for replacement therapy in males for conditions associated with a deficiency or absence of endogenous testosterone. |
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News For ACT From The Last 14 Days Check below for free stories on ACT the last two weeks. |
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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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| 11:16 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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| 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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| 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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| 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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| May 16, 2013 |
| 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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| 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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