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Stock Market & Financial Investment News

News Breaks
April 25, 2014
07:25 EDTJAZZ, AGN, VRX, ALKS, SHPGAllergan approached Shire about potential takeover months ago, Reuters says
Allergan (AGN) reportedly approached Shire (SHPG) several months ago about a possible takeover, Reuters reports, though initial conversations never turned into more serious discussions. Since then, Allergan has received an unsolicited $47B offer from Valeant (VRX) and Pershing Square. It is unclear whether Allergan will look to revive talks with Shire or pursue another acquisition target like Jazz (JAZZ) or Alkermes (ALKS). Reference Link
News For AGN;SHPG;VRX;JAZZ;ALKS From The Last 14 Days
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February 2, 2016
11:30 EDTVRXHouse committee members says Valeant inflated drug prices to meet goals
In a memo from the Committee on Oversight and Government Reform, Democratic members of the committee stated that documents obtained from Valeant show that the company identified goals for revenue first, then "set drug prices to reach those goals," pointing to its sharp price increases for Isuprel and Nitropress as examples of this practice. The committee also contend that Valeant employed a public relations strategy, which is noted to be used by other drug companies as well, to "distract public attention away from its price increases." Valeant raised the prices of some products multiple times from 2014 to 2015, in some cases by as much as 800%, the committee members stated. Reference Link
10:59 EDTAGNPfizer CEO confident Allergan deal can close in second half
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09:46 EDTSHPGIntercept rumored to draw interest from many suitors, Daily Mail says
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08:59 EDTALKSLeerink views doc checks as positive for ACADIA, Neurocrine
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06:54 EDTAGNPfizer expects combination with Allergan to occur in 2H16
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February 1, 2016
13:25 EDTAGNEarnings Watch: Pfizer shares down approximately 12% since last earnings report
Pfizer (PFE) is scheduled to report fourth quarter earnings before the market open on Tuesday, February 2, with a conference call scheduled for 10:00 am ET. Pfizer, a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. Its product portfolio includes medicines and vaccines, as well as various consumer healthcare products. EXPECTATIONS: Analysts are looking for earnings per share of 52c on revenue of $13.57B, according to First Call. The consensus range for EPS is 49c-54c on revenue of $13.08B-$13.99B. LAST QUARTER: After completing its Hospira acquisition in early September, Pfizer reported third quarter EPS of 60c, which beat consensus estimates of 51c, on revenue of $12.1B, which was also higher than consensus estimates of $11.56B. In Q3 Operational revenue growth in in developed markets was driven primarily by the performance of several key products, including Prevnar 13 in adults, Ibrance and Eliquis -- all products that are early in their life cycles as well as from Lyrica primarily in the U.S., and the inclusion of one month of legacy Hospira U.S. operations. In emerging markets, revenues increased 5% operationally, reflecting continued strong operational growth, primarily from the Innovative Products business. Operational revenue growth was partially offset primarily by the loss of exclusivity and associated generic competition for Celebrex in the U.S., Zyvox in the U.S. and Lyrica in certain developed Europe markets. With its Q3 earnings announcement the company raised its fiscal year 2015 earnings per share view to $2.16-$2.20 from $2.04-$2.10 against a raised revenue view of $47.5B-$48.5B from $46.5B-$47.5B. Commenting on the improved yearly view, the company CFO said "We raised our 2015 financial guidance for reported revenues and adjusted diluted EPS to reflect the strong performance to date of Pfizer-standalone, excluding legacy Hospira operations coupled with an improved business outlook for Pfizer-standalone for the remainder of the year.PFIZER-ALLERGAN DEAL. On November 23, Pfizer and Allergan (AGN) announced that their boards of directors have unanimously approved, and the companies have entered into, a definitive merger agreement under which Pfizer will combine with Allergan. Pfizer at the time said it anticipates the Allergan transaction will deliver more than $2B in operational synergies over the first three years after closing. Pfizer anticipates that the combined company will have a pro forma Adjusted Effective Tax Rate of approximately 17%-18% by the first full year after the closing of the transaction. The transaction is expected to be neutral to Pfizer's Adjusted Diluted EPS in 2017, modestly accretive beginning in calendar year 2018, more than 10% accretive in 2019 with high-teens percentage accretion in 2020. STREET RESEARCH: On December 1, Barclays analyst Geoff Meacham kept an Equal Weight rating on Pfizer after assuming coverage of the name. The analyst maintained a $34 price target for shares.On November 25, SunTrust upgraded Pfizer to Neutral and increased its price target to $37 from $34 on shares. Analyst John Boris said the Allergan deal makes strategic sense, providing much needed growth from earlier life cycle assets with limited therapeutic overlap. PRICE ACTION: Shares of Pfizer are lower by approximately 12% since its last earnings report on October 27. Pfizer shares are trading over 1% lower to $29.97 in afternoon trading ahead of Tuesday morning's earnings.
09:08 EDTJAZZJazz Pharmaceuticals reports data from Phase 3 pivotal study of defibrotide
Jazz Pharmaceuticals announced that data from the phase 3 pivotal study of defibrotide were published online in BLOOD, the Journal of the American Society of Hematology, or ASH. The data demonstrated that defibrotide use in patients with hepatic veno-occlusive, or VOD, also known as sinusoidal obstruction syndrome, with multi-organ failure post-hematopoietic stem-cell transplantation was associated with a statistically significant improvement in Day +100 survival and in rate of complete response by Day +100, compared with rigorously selected historical controls.
January 29, 2016
10:13 EDTVRXExpress Scripts to exclude Valeant's Glumetza from formulary
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07:59 EDTALKSAlkermes management to meet with JPMorgan
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07:38 EDTAGNAllergan's Phase III rapastinel receives Breakthrough Therapy desgination by FDA
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07:11 EDTAGNAllergan enters into global agreement with AstraZeneca for ATM-AVI
Allergan announced that it has entered into a global agreement with AstraZeneca to develop and commercialize ATM-AVI, an investigational, fixed-dose antibiotic combining aztreonam and avibactam. Together, the two companies will evaluate the combination to treat serious infections caused by metallo betalactamase MBL-producing Gram-negative pathogens, a difficult-to-treat sub-type of carbapenem-resistant Enterobacteriaceae, or CRE, for which there are currently very limited treatments, thus presenting a new treatment option for patients with MBL-producing pathogens. Under the terms of the agreement, Allergan will maintain commercialization rights in the U.S. and Canada and AstraZeneca will maintain commercialization rights in all other countries.
06:55 EDTJAZZ2016 could be pivotal year for Jazz, says Deutsche Bank
Deutsche Bank analyst Gregg Gilbert says 2016 could be a pivotal year for Jazz Pharmaceuticals. The analyst sees several potential catalysts for the shares, including potentially greater certainty on Xyrem duration via a patent settlement or a win in court, FDA approval of defibrotide and acquisitions supported by the company's under-leveraged balance sheet. Gilbert keeps a Buy rating on Jazz with a $167 price target.
05:33 EDTVRXStocks with implied volatility movement; VRX MRK
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January 28, 2016
15:49 EDTVRXValeant comments by Hillary Clinton not new, says Evercore ISI
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15:42 EDTVRXValeant volatility increases after accused by Clinton of 'predatory pricing'
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15:34 EDTVRXValeant accused by Clinton of 'predatory pricing'
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10:13 EDTALKSOptions with decreasing implied volatility
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10:05 EDTSHPGHigh option volume stocks
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January 26, 2016
18:37 EDTVRXPershing Square says not selling Valeant a 'very costly mistake'
In its Annual Investor Letter, Pershing Square said, in part, that not selling Valeant (VRX) was a "very costly mistake." It also noted that not trimming its Canadian Pacific (CP) stake was a "similar error," and that they paid too much for additional stock in Platform Specialty Products (PAH). Reference Link
10:06 EDTALKSOptions with decreasing implied volatility
Options with decreasing implied volatility: SRPT GNC ALKS CALM NFLX CREE FFIV COH ISRG IBM
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