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News Breaks
May 27, 2014
10:07 EDTOILT, BKW, AEGR, SRC, PFE, MFC, ARES, TRXC, QTNT, FRSH, GPT, AWH, SLF, SABROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Aegerion (AEGR) initiated with a Sell at Goldman... Allied World (AWH) initiated with a Buy at CRT Capital... Ares Management (ARES) initiated with a Buy at BofA/Merrill... Burger King (BKW) initiated with an Equal Weight at Morgan Stanley... Gramercy Property Trust (GPT) initiated with a Buy at BofA/Merrill... Manulife Financial (MFC) initiated with a Buy at Canaccord... Oiltanking Partners (OILT) initiated with a Market Perform at Wells Fargo... Papa Murphy's (FRSH) initiated with a Buy at Jefferies... Pfizer (PFE) reinstated with a Buy at Goldman... Quotient (QTNT) initiated with a Buy at UBS... Sabre (SABR) initiated with a Buy at BofA/Merrill... Spirit Realty (SRC) initiated with a Neutral at BofA/Merrill... Sun Life Financial (SLF) initiated with a Buy at Canaccord... TransEnterix (TRXC) initiated with an Outperform at RBC Capital.
News For AEGR;AWH;ARES;BKW;GPT;MFC;OILT;FRSH;PFE;SABR;QTNT;SRC;SLF;TRXC From The Last 14 Days
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April 13, 2015
15:12 EDTPFEMylan enters settlement, license agreement with Pfizer regarding Viagra
Mylan (MYL) announced that its subsidiaries Mylan Inc. and Mylan Pharmaceuticals have entered into a settlement and license agreement with Pfizer (PFE), Pfizer Limited and Pfizer Ireland Pharmaceuticals to settle patent litigation relating to Mylan's Abbreviated New Drug Application filed with the U.S. FDA for Sildenafil Citrate Tablets 25 mg, 50 mg, and 100 mg. This product is the generic version of Viagra, which is indicated to treat erectile dysfunction. Under the terms of the agreement, Mylan will be able to launch its ANDA products pursuant to a royalty-bearing license as early as December 11, 2017, or sooner under certain conditions, subject to FDA approval. All other terms and conditions of the settlement and license agreement are confidential, and the agreement itself is subject to review by the U.S. Department of Justice and the Federal Trade Commission. For the 12 months ending Dec. 31, 2014, Viagra had U.S. sales of approximately $1.3B, according to IMS Health.
08:17 EDTQTNTQuotient says HBsAg assay results using MosaiQ showed high degree of sensitivity
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April 9, 2015
09:51 EDTPFEPerrigo did not expect Mylan takeover letter, CNBC's Faber reports
Perrigo (PRGO) did not expect the takeover letter it received from Mylan (MYL), CNBC's David Faber reports, citing sources. Perrigo will take its time in deciding what its next steps are, Faber added. Shares of Mylan are up 3% in early trading, which is being attributed, at least in part, to speculation the company could be a takeover target itself. Analysts this morning mentioned Teva (TEVA) as a potential acquirer of Mylan. Chatter this morning has Pfizer (PFE) also potentially interested in the EpiPen maker
09:25 EDTPFEPiper Jaffray pharmaceuticals analysts hold an analyst/industry conference call
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08:56 EDTGPTGramercy Property Trust 8.5M share Spot Secondary priced at $27.75
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08:41 EDTSRCSpirit Realty 20M share Spot Secondary priced at $11.85
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08:04 EDTPFEPfizer launches PCSK9 competitive grants program
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06:08 EDTSRCSpirit Realty 20M share Spot Secondary; price range $11.75-$11.90
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06:07 EDTGPTGramercy Property Trust 7M share Spot Secondary; price range $27.25-$28.05
BofA/Merrill, Morgan Stanley, RBC Capital and JPMorgan are acting as joint book running managers for the offering.
April 8, 2015
16:41 EDTSRCSpirit Realty acquired 53 properties so far this year
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16:05 EDTGPTGramercy Property Trust files to sell 7M shares of common stock
The Company intends to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility, which is generally used to fund real estate acquisitions, including properties currently under contract or letter of intent. BofA Merrill Lynch, Morgan Stanley, RBC Capital Markets and J.P. Morgan are acting as joint book-running managers for the offering.
16:03 EDTSRCSpirit Realty files to sell 20M shares of common stock
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05:32 EDTMFCDBS and Manulife Financial form 15-year regional life bancassurance partnership
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April 7, 2015
16:36 EDTGPTNYC says Gramercy Property Trust liable for NYC DOF Transfer Tax Assessment
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08:09 EDTPFEPfizer, Merck KGaA finalize agreement to co-promote XALKORI
Merck KGaA (MKGAY) and Pfizer (PFE) announced the finalization of the co-promotion agreement allowing the companies to co-promote Pfizerís anaplastic lymphoma kinase inhibitor XALKORI. Under the agreement, XALKORI will be co-promoted in two waves, the first of which will begin in the second and third quarters of 2015 in the United States, Canada, Japan and five European Union countries: France, Germany, Italy, Spain and the United Kingdom. In the U.S. and Canada, XALKORI will be co-promoted by EMD Serono, the U.S. and Canadian biopharmaceutical businesses of Merck KGaA. The second wave will begin in 2016 and includes China and Turkey. n 2015, Merck KGaA will receive a reimbursement associated with its promotion of XALKORI, followed by an 80% for Pfizer, 20% for Merck KGaA profit sharing on the product starting in 2016. The co-promotion term will last through December 31, 2020 for the U.S., Canada, Japan, France, Germany, Italy, Spain and the U.K. and from January 1, 2016 through December 31, 2021 in China and Turkey. Pfizer will report the sales of XALKORI in countries where it is co-promoted with Merck KGaA.
07:14 EDTPFEEyeforpharma to hold a summit
Philadelphia 2015 Commercial Pharma Summit is being held in Philadelphia on April 7-8.
07:02 EDTPFEGlycoMimetics updates on Pfizer's plans to initiate Phase 3 Rivipansel trial
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April 6, 2015
10:37 EDTPFETargacept says Pfizer terminates research & license agreement with Catalyst
In a regulatory filing from earlier, Targacept (TRGT) said: "As previously reported, on March 5, Targacept, Talos Merger Sub, a Delaware corporation and a wholly owned subsidiary of Targacept and Catalyst Biosciences, entered into an Agreement and Plan of Merger, pursuant to which, among other things, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Catalyst, with Catalyst becoming a wholly owned subsidiary of Targacept and the surviving corporation of the merger. On April 1, Catalyst notified Targacept that Pfizer (PFE) would be exercising its right to terminate in its entirety the June 29, 2009, research and license agreement between Catalyst and Wyeth, which governs the development and commercialization of Catalystís leading human Factor VIIa product candidate for the treatment of hemophilia and surgical bleeding indications. On April 2, Pfizer provided Catalyst with its formal written notice of termination of the research and license agreement. Upon the June 1, effective date of the termination, the license and certain rights under the research and license agreement will terminate and revert to Catalyst. Catalyst has informed Targacept that Pfizer is committed to an orderly transfer of data, regulatory documentation and related technology under the agreement to Catalyst to enable Catalyst to continue the clinical development of this product candidate. Targacept is currently reviewing the implications of this event on the proposed Merger. In morning trading shares of Targacept are down almost 12% to $2.51.
08:56 EDTSABRSabre target raised to $26 from $24 at Cowen
Cowen raised its price target on Sabre to $26 from $24 following the company's analyst day, citing its increasing market share, its highly profitable Travel Network business, and its transparency to investors. Cowen reiterated its Outperform rating on Sabre shares.
08:33 EDTGPTGramercy Property Trust acquires two properties for $26.9M
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