News Breaks |
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| March 8, 2013 |
| 08:34 EDT |  | ACT | Actavis confirms generic Exelon patch patent challenge
Actavis confirmed that it has filed with the FDA an amendment to its Abbreviated New Drug Application for Rivastigmine Transdermal System to include the 13.3 mg per 24 hours dosage strength. Novartis filed suit against Watson on March 7 in the United States District Court for the District of Delaware seeking to prevent Actavis from commercializing its 13.3 mg/ 24 hr strength product prior to the expiration of certain U.S. patents. Actavis previously filed an ANDA with the FDA seeking approval to market Rivastigmine Transdermal System patch 4.6 mg/24 hr and 9.5 mg/24 hr, and was subsequently sued by Novartis in November 2011. That application is subject to a separate 30-month stay. |
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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 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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| May 23, 2013 |
| 11:55 EDT |  | ACT | Options with decreasing implied volatility: AEGR PXP AMRN DSX ACT
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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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