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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
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July 16, 2014
10:31 EDTAGNPershing Square Capital Management holds analyst/industry conference call
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09:16 EDTAGNPershing Square sends letter to Allergan's board of directors
Pershing Square Capital Management announced it has sent a letter to Allergan's Board of Directors. Pershing Square last Friday filed definitive solicitation materials with the U.S. SEC to seek shareholder support for a special meeting of Allergan shareholders and is now actively soliciting shareholder support to call the meeting. At this special meeting, Allergan shareholders will be able to voice their opinions on a number of critical matters, including the proposed removal of six incumbent members of the Allergan board, the proposed appointment of an independent slate of directors and certain other proposed provisions to improve Allergan’s corporate governance.
09:12 EDTACTLeerink healthcare analyst holds an analyst/industry conference call
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08:16 EDTAGNLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTAGNTreasury Secretary urges Congress to take action on tax inversions
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July 15, 2014
11:13 EDTAGNPerrigo retreats after analyst sees limited potential buyers
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05:44 EDTNVSNovartis to license Google 'smart lens' technology
Novartis (NVS) announced that its eye care division Alcon has entered into an agreement with a division of Google (GOOG) to in-license its "smart lens" technology for all ocular medical uses. The agreement with Google[x], a team within Google that is devoted to finding new solutions to big global problems, provides Alcon with the opportunity to develop and commercialize Google's "smart lens" technology with the potential to transform eye care and further enhance Alcon's pipeline and global leadership in contact lenses and intraocular lenses. The transaction remains subject to anti-trust approvals. The agreement between Google and Alcon represents an important step for Novartis, across all of its divisions, to leverage technology to manage human diseases and conditions. Google's key advances in the miniaturization of electronics complement Novartis's deep pharmaceuticals and medical device expertise. Novartis aims to enhance the ways in which diseases are mapped within the body and ultimately prevented.
05:35 EDTNVSNovartis collaborates with Banner Alzheimer's Institute on study
Novartis announced a collaboration with Banner Alzheimer's Institute, or BAI, on a pioneering clinical study in Alzheimer's disease, or AD, prevention. The study will determine whether two Novartis investigational anti-amyloid treatments can prevent or delay the emergence of symptoms of AD in people identified as being at genetic risk for developing the late-onset form of the disease. Using an innovative trial design, the two treatments will be given in cognitively healthy people at genetic risk of developing the build-up of amyloid protein in the brain that may eventually lead to AD. One treatment is an active immunotherapy, a treatment that stimulates an immune response, and triggers the production of natural antibodies against amyloid. This investigational treatment, given via an injection, is in phase II clinical development. The second treatment, a BACE inhibitor, is an oral medication about to enter phase I trials and is designed to prevent the production of different forms of amyloid.
July 14, 2014
12:47 EDTAGNAllergan slides question Valeant growth, disclosures, says BMO Capital
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08:13 EDTAGNAllergan reiterates belief that Valeant model unsustainable in new presentation
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08:02 EDTAGNValeant submits HSR filing for proposed acquisition of Allergan
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07:23 EDTNVSAlzheimer's Association to hold a conference
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July 11, 2014
16:48 EDTAGNAllergan comments on Pershing Square’s definitive proxy solicitation
Allergan (AGN) provided the following comment in response to the definitive proxy solicitation filed by Pershing Square Capital Management in connection with Pershing Square’s request to call a Special Meeting of Stockholders. At the Special Meeting, if called, Allergan stockholders would be asked to remove a majority of the company’s existing directors in connection with Valeant Pharmaceuticals' (VRX) unsolicited exchange offer to acquire all outstanding common shares of Allergan for 0.83 shares of Valeant common stock and $72.00 in cash, or subject to proration, an amount of cash or a number of Valeant common shares with the implied value set forth in the exchange offer. Under the current Board’s leadership, which includes individuals with significantly more industry experience than Pershing Square’s recommended nominees, Allergan continues to execute on its plan to drive near- and long-term organic growth, enhance its growth prospects and continue generating significant value for all of Allergan’s stockholders. We believe Pershing Square’s attempt to replace a majority of the Allergan Board is a further effort to support Valeant in its bid to acquire Allergan at a grossly inadequate price that substantially undervalues the company and creates significant risks and uncertainties for Allergan stockholders. Valeant has repeatedly failed to address the serious concerns raised by Allergan and important members of the investment community about Valeant’s anemic organic growth driven by unsustainable price increases, among other fundamental business model issues. Allergan has a track record of consistently acting in the best interests of its stockholders and the Board remains confident in the company’s ability to create significantly more value than Valeant’s proposal.
16:31 EDTACTActavis confirms generic Diclegis patent challenge
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11:54 EDTAGNAbbVie, Shire in active takeover talks, Bloomberg reports
AbbVie (ABBV) and Shire (SHPG) are in active talks about a potential merger after AbbVie raised its takeover offer for a fourth time, Bloomberg reports, citing people with knowledge of the matter. The talks are in the early stage and may not lead to an agreement, sources told Bloomberg. Shares of Shire are up 5%, or $12.04, to $250.65 following the report.
July 10, 2014
15:43 EDTNVSNovartis siponimod designated as orphan treatment of dermatomyositis
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July 9, 2014
18:31 EDTAGNShareholders urge Allergan to make large acquisition, FT reports
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18:21 EDTAGNAllergan CEO seeks sizeable acquisitions, WSJ reports
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06:49 EDTACTGeneric drug prices have risen significantly, NY Times says
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06:19 EDTAGNAllergan plans broad restructuring plan, Bloomberg says
Allergan (AGN), the pharmaceutical maker that is being chased by Valeant (VRX) and Bill Ackman’s hedge fund, will shelve unpromising pipeline medicines and revamp management incentives, according to Bloomberg, citing two people with knowledge of the matter. The sources said that the restructuring plan, which is set to be explained during Allergan's upcoming earnings announcement, will also detail companywide cost reductions including some legacy expenses. Reference Link
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