New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 10, 2014
11:22 EDTAGN, ACT, NVSAllergan Latisse patents found invalid by appeals court
The U.S. court of appeals for the federal circuit overturned a lower court ruling related to Allergan's (AGN) patents for Latisse, a treatment for eyelash loss. Several companies, including Actavis (ACT) and Novartis' (NVS) Sandoz unit, appealed a lower court ruling that said they'd infringed Allergan's patents. The appeals court sided with the appealing companies and reversed the district court's findings with respect to the validity of the patents held by Allergan and Duke University. Reference Link
News For AGN;ACT;NVS From The Last 14 Days
Check below for free stories on AGN;ACT;NVS the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
July 21, 2014
12:34 EDTAGNAckman says market sees higher chance of Allergan, Valeant merger
Subscribe for More Information
12:10 EDTAGNOn The Fly: Midday Wrap
Subscribe for More Information
11:22 EDTAGNAllergan CEO: At the end of the day, it's up to Valeant to say what's going on
Subscribe for More Information
11:15 EDTAGNAllergan to ask board to approve new form of compensation for top management
The new form of compensation will be pegged to delivering the EPS outlook given earlier today. Comments taken from Q2 earnings conference call.
11:06 EDTAGNAllergan cost cuts provide floor valuation, says BMO Capital
Subscribe for More Information
09:10 EDTAGNOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
08:07 EDTAGNAllergan: Approx. 94% of customer-facing personnel unaffected by restructuring
Subscribe for More Information
08:06 EDTAGNAllergan sees Q3 EPS $1.44-$1.47, consensus $1.45
Subscribe for More Information
08:05 EDTAGNAllergan sees FY14 total net product sales $6.9B-$7.05B
Sees total specialty pharamceuticals net sales $5.87B-$5.98B, total core medical devices net sales $1.01B-$1.05B. Sees FY BOTOX net sales $2.2B-$2.28B, LATISSE net sales $100M. Sees effective tax rate on non-GAAP earnings between 26% and 27%.
08:03 EDTAGNAllergan sees FY14 EPS $5.74-$5.80, consensus $5.70
Allergan reconfirms its aspiration of double digit sales growth across the strategic plan period (2014 through 2019), as the planned reductions in selling, general and administrative expenses and reduced focus on lower-value spend will have only a modest impact on the net sales growth. Allerganís strategic plan (2014 through 2019) is expected to deliver a compounded annual growth rate of greater than 20% EPS growth. Allergan estimates 2014 EPS between $5.74 and $5.80. Allergan estimates 2015 EPS between $8.20 and $8.40. Allergan estimates 2016 EPS at approximately $10.00. Allergan currently estimates that it will incur total non-recurring pre-tax charges of between $375 million and $425 million in connection with the restructuring and other costs, of which $65 million to $75 million will be a non-cash charge associated with the acceleration of previously unrecognized share-based compensation costs and certain other non-cash accounting adjustments. The restructuring charges and other costs will primarily consist of employee severance and other one-time termination benefits, facility lease and other contract terminations, accelerated depreciation and asset write-downs, accelerated equity-based compensation, temporary labor and duplicate operating expenses. These non-recurring charges will be incurred beginning in the third quarter of 2014 and are expected to continue through the second quarter of 2015.
08:02 EDTAGNAllergan to reduce workforce by approx. 1,500 employees
Subscribe for More Information
08:01 EDTAGNAllergan reports Q2 adjusted EPS $1.51, consensus $1.44
Reports Q2 revenue $1.86B, consensus $1.77B.
07:38 EDTNVSNovartis management to meet with JPMorgan
Meetings to be held in Los Angeles/Pasadena on July 24 and in San Francisco on July 25 hosted by JPMorgan.
07:15 EDTAGNValeant Allergan contacts Quebec, U.S. regulators regarding Allergan statements
Valeant (VRX) has contacted both the Autorite des marches financiers in Quebec and the SEC regarding Allergan (AGN) apparent attempt to "mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business despite Valeant's public statements correcting such information." The latest statements were made last Friday when Allergan asserted in an SEC filing that Bausch + Lomb's pharmaceutical sales were stagnant or declining. Valeant's decision to contact the authorities also reflects concerns raised by several Canadian Valeant shareholders about comments made about Valeant by Allergan's management during recent meetings with these investors in Canada.
07:11 EDTNVSInternational Society of DNA Vaccines to hold a conference
Subscribe for More Information
07:09 EDTAGNValeant, Ackman go to SEC over Allergan claims, CNBC reports
Subscribe for More Information
07:03 EDTNVSAnacor, Sandoz enter into agreement for commercialization of Kerydin in the U.S.
Anacor Pharmaceuticals (ANAC) announced that it has entered into an exclusive agreement with Sandoz, a Novartis (NVS) company, pursuant to which Sandoz will distribute and commercialize Anacorís drug KERYDIN topical solution, 5% in the United States. PharmaDerm, the branded dermatology business of Sandoz, will be responsible for the sales and marketing of KERYDIN. On July 8, Anacor announced that the U.S. FDA approved the New Drug Application for KERYDIN, the first oxaborole antifungal approved for the topical treatment of onychomycosis of the toenails, a fungal infection of the nail and nail bed that affects approximately 35 million people in the United States, according to Podiatry Today. The agreement with Sandoz entitles Anacor to upfront payments totaling $40M and an additional milestone payment of $25M expected to be paid in January 2015. Under the agreement, Sandoz and Anacor will share equally, under a long-term profit-sharing arrangement, the gross profits accrued by Sandoz on sales of KERYDIN, except that in 2015 Anacor will start receiving profit-sharing payments after the first $50M of gross profits have been accrued by Sandoz. The long-term profit-sharing arrangement includes cumulative minimum profit-sharing payments to Anacor in 2016 totaling $45M. Anacor will also have the option to repurchase all rights in KERYDIN from Sandoz on the later of three years from launch or December 31, 2017, at a price to be determined pursuant to the agreement. Under the terms of the agreement, Anacor will supply product to Sandoz at cost through Anacorís contract manufacturers, and Sandoz will be responsible for all of its selling, marketing, distribution, general and administrative costs related to the commercialization of KERYDIN. Anacor will hold the NDA and will be responsible for any further development of KERYDIN.
06:34 EDTAGNCapital Research sells nearly all its Allergan stake, WSJ reports
Subscribe for More Information
July 18, 2014
12:51 EDTAGNKey GOP senator signals readiness for inversion deal, The Hill says
Subscribe for More Information
11:27 EDTAGNSamlyn undecided on support for Valeant bid for Allergan, Dow says
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use