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March 4, 2014
34th Annual Global Healthcare Conference is being held in Boston on March 3-5 with webcasted company presentations to begin on March 4 at 8:00 am; not all company presentations may be webcasted. Webcast Link
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August 18, 2015
07:22 EDTBMYBristol-Myers combo data could push shares above $70, says JPMorgan
JPMorgan analyst Chris Schott says the risk/reward for shares of Bristol-Myers Squibb looks "very attractive" ahead of the World Conference on Lung Cancer, which begins September 6. Data at the conference supportive of an Opdivo/Yervoy combo would represent a clear catalyst for the shares, Schott tells investors in a research note. Bristol is "already extremely well-positioned" in the advanced non-small cell lung cancer market, and data suggesting that the company has addressed toxicity concerns with the combo could push the stock above $70, Schott argues. Bristol closed yesterday up 39c to $63.47. The analyst sees limited downside to stock even with disappointing results at the World Conference on Lung Cancer. He reiterates an Overweight rating on Bristol with a $75 price target.
August 17, 2015
08:43 EDTBMYBristol-Myers sells Ixempra to R-PHARM, terms not disclosed
R-PHARM announces the acquisition of Ixempra from Bristol-Myers Squibb. Ixempra received marketing approval from the FDA in 2007 and in 18 other markets globally. Ixempra is indicated as monotherapy or in combination with capecitabine for the treatment of metastatic or locally advanced breast cancer in patients whose tumors are resistant or refractory to anthracyclines, taxanes, and capecitabine. With the acquisition, R-PHARM has launched its U.S. commercial operations, and it is now responsible for all activities surrounding Ixempra's manufacture, distribution, sales, and reimbursement. Financial terms were not disclosed.
August 14, 2015
17:08 EDTTEVA, MYLPaulson & Co gives quarterly update on stakes
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16:37 EDTMYLAppaloosa gives quarterly update on stakes, takes stake in Apple
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13:33 EDTMYLPaulson & Co. votes in support of Mylan's proposed merger with Perrigo
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12:12 EDTMYLPaulson recently took position in Perrigo, WSJ reports
John Paulson's hedge fund, which owns a 4.6% stake in Mylan (MYL), recently built a position in Perrigo (PRGO), Wall Street Journal reports, citing people familiar with the matter. Mylan has made an unsolicited bid to acquire Perrigo. Shares of Perrigo moved up following the report, and sit up 85c to $193.35 in midday trading.
11:10 EDTMYLPerrigo says ISS affirms position that Mylan deal would be 'value destructive'
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10:12 EDTAEGRHigh option volume stocks
High option volume stocks: DAR WX AEGR NOC AMCC JWN QIWI TROX
09:30 EDTAEGRAegerion is a potential acquisition target, says dealReporter
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09:20 EDTMYLMylan responds to ISS recommendation regarding Perrigo transaction
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08:59 EDTMYLMylan tells holders board unanimously recommends Perrigo deal
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08:35 EDTMYLHayman takes Mylan, Perrigo stakes, boasts exposure to energy
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08:23 EDTMYLMylan still in 'decent' position to win Perrigo vote, CNBC's Faber reports
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08:22 EDTMYLISS tells Mylan investors to vote against Perrigo takeover, WSJ reports
Proxy adviser Institutional Shareholder Services, or ISS, recommended that Mylan (MYL) investors vote against approving the company's $36B takeover of Perrigo (PRGO), the Wall Street Journal reports. ISS said that the deal faces too many hurdles and has "unreasonable uncertainties" associated with it, the report says. Reference Link
06:19 EDTGSKGlaxoSmithKline says NC plant meds safe from Legionnaires' bacteria, AP reports
GlaxoSmithKline said that the medications manufactured at its pharmaceutical plant in Zebulon, North Carolina are safe despite the company's decision to shut down the factory after the discovery of Legionnaires' bacteria, the Associated Press reports, citing an email from company spokeswoman Jenni Brewer Ligday. North Carolina health officials have said that no cases of Legionnaires' disease linked to the Glaxo plant have been reported, the report says. Reference Link
August 13, 2015
16:24 EDTALXNAlexion files to sell common stock, no amount given
13:43 EDTMYLPerrigo comments on Mylan's 'reckless' lowering of tender threshold
Perrigo Company (PRGO) responded to the announcement that Mylan N.V. (MYL) has lowered the acceptance condition for its proposed unsolicited offer to acquire Perrigo from not less than 80% of Perrigo ordinary shares to greater than 50% of Perrigo ordinary shares. Perrigo Chairman, President and CEO Joseph C. Papa said, "Mylan already proposed a dilutive deal that substantially undervalues Perrigo; today's announcement makes it even worse. This scare tactic is simply an attempt to coerce Perrigo shareholders into a value destructive deal. We don't believe Perrigo shareholders will tender into this transaction at any threshold and we are confident that there is no rational path to a full acquisition of Perrigo. This move is an obvious sign of desperation that would have profoundly negative effects for shareholders, debtholders, customers and employees of both Perrigo and Mylan. Under Irish law, this structure all but guarantees that the promised synergy realization will fail and it would create material credit and equity risk for both companies - none of which Mylan has detailed to its own shareholders or ours." Papa continued, "This reckless action runs contrary to the best interests of both Perrigo and Mylan shareholders, taking a value destructive transaction and making it materially worse when Mylan fails to achieve the 80% threshold necessary for consolidation. This is yet another example of Mylan's leadership disregarding their fiduciary responsibilities to represent the best interests of shareholders."
10:53 EDTBLUEOptions with increasing implied volatility
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08:06 EDTBMYBristol-Myers Squibb, Otsuka receive FDA approval for Sprycel labeling
Bristol-Myers Squibb (BMY) and Otsuka (OTSKY) America Pharmaceutical announced that the U.S. Food and Drug Administration has approved an update to the Sprycel product labeling. The labeling now includes five-year efficacy and safety data in adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase and seven-year data in CP Ph+ CML patients who are resistant or intolerant to prior therapy, including Gleevec.
07:02 EDTMYLMylan lowers acceptance condition on Perrigo offer to greater than 50%
Mylan (MYL) announced that it has formally lowered the acceptance condition for its offer to acquire Perrigo (PRGO) from not less than 80% of Perrigo ordinary shares to greater than 50% of Perrigo ordinary shares. As previously announced, on Aug. 6, 2015, Mylan entered Amendment No. 2 to its bridge credit agreement which allows Mylan to lower the acceptance condition to a number of Perrigo ordinary shares representing more than 50% of the voting rights then exercisable at a general meeting of Perrigo without further consent from the lenders. On April 24, 2015, Mylan issued a Rule 2.5 announcement under the Irish Takeover Rules setting forth its legally-binding commitment to commence an offer directly to the Perrigo shareholders for the entire issued and to be issued share capital of Perrigo. The proposed transaction remains subject to the pre-condition and certain conditions and other terms set forth in the formal Rule 2.5 announcement.
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