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Stock Market & Financial Investment News

News Breaks
August 20, 2014
10:53 EDTAGN, SLXP, VRXAnalysts say Salix takeover would boost Allergan
Acquiring Salix (SLXP) would be a positive move for Allergan (AGN), two research firms indicated in notes to investors today. WHAT'S NEW: After The Wall Street Journal yesterday reported that Allergan had approached Salix and at least one other drug maker about a possible takeover as it fends off Valeantís (VRX) hostile buyout attempt, William Blair analyst Tim Lugo wrote that a merger between Allergan and Salix would produce a "very attractive" combined company. Salix would provide Allergan with significant growth, according to Lugo. The regulatory risk of Salix's treatment for Iiritable bowel syndrome with diarrhea has been reduced as a result of positive data on the drug, the analyst stated. Moreover, a combination of Allergan and Salix would have "more obvious value" next year than a combination of Allergan and Valeant, Lugo believes. Salix provides more growth opportunities for Allergan than Valeant, Lugo wrote. Allergan could bid around $192 per share for Salix, according to the analyst, who kept Outperform ratings on both Allergan and Salix. Meanwhile, analysts at Wells Fargo believe that a largely debt financed acquisition of Salix by Allergan could boost Allergan's earnings by 8% in 2015 and 2016, and 11%-12% in 2017-2018. Including share repurchases, the deal could increase Allergan's 2016 earnings per share outlook to $11 from $10, the firm believes. PRICE ACTION: In mid-morning trading, following rallies yesterday, Salix fell 3.5% to $155 and Allergan lost 0.5% to $161.
News For AGN;SLXP;VRX From The Last 14 Days
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October 9, 2014
06:49 EDTAGNAllergan cites momentum from robust growth of worldwide markets
The company also cites increases in market share in most categories, many regulatory approvals for new products in the U.S. and internationally, and targeted investments to create and grow new products and new categories. Exceptional growth in EPS from the acceleration in sales but also in leveraging of sales and marketing expenditures. The benefits from Allerganís previously announced restructuring program will be reflected in the Companyís actual results beginning in the fourth quarter of 2014 and continuing through 2015.
06:47 EDTAGNAllergan sees FY16 non-GAAP EPS $10.25
06:47 EDTAGNAllergan sees FY15 non-GAAP EPS $8.60, consensus $8.25
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06:47 EDTAGNAllergan sees FY14 non-GAAP EPS $6.20-$6.25, consensus $5.81
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06:46 EDTAGNAllergan raises Q3 EPS to $1.76-$1.78 from $1.44-$1.47, consensus $1.48
Expects Q3 product net sales to increase in excess of 17% in dollars compared to product net sales from 3Q13.
October 8, 2014
16:10 EDTAGNAllergan initiated with a Buy at Deutsche Bank
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08:42 EDTAGN, SLXPSalix shares should be bought on weakness, says Sterne Agee
After Reuters yesterday afternoon reported that Actavis (ACT) plans to make a new merger approach to Allergan (AGN), Sterne Agee believes that Salix's standalone value is $162. The firm expects the shares to reach that level following approval of its Xifaxan IBS-D drug after the February 2015 PDUFA date.
08:31 EDTSLXPSalix announces FDA granted final approval for UCERIS
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07:19 EDTAGNCBI to hold a conference
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06:23 EDTAGN, VRX, SLXPActavis more inclined to pursue Allergan over Salix, says Citigroup
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October 7, 2014
18:29 EDTAGN, VRXOn The Fly: After Hours Movers
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18:05 EDTVRX, AGNValeant, Pershing Square plan to raise Allergan bid by $15 a share, WSJ says
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17:52 EDTAGN, VRXAllergan up 2.8% after Dow Jones says Valeant planning to boost bid for company
17:49 EDTAGN, VRXValeant up 3.9% after Dow Jones says planning to boost Allergan bid
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17:47 EDTVRX, AGNValeant, Pershing Square planning to boost Allergan bid by $15 a share, DJ says
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15:21 EDTAGN, SLXP, VRXAllergan warms to sale as Actavis plans new approach, Reuters says
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15:01 EDTAGNAllergan up 1.5% following report on Actavis planned approach on merger
14:59 EDTAGNActavis plans new approach to Allergan, Reuters reports
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07:48 EDTSLXP, AGNSalix reinstated with a Buy at Jefferies
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07:12 EDTAGN, VRXAllergan requests Ackman be hindered from voting at meeting, Bloomberg says
In an effort to avoid an unsolicited $54B acquisition offer from Valeant Pharmaceuticals (VRX), Allergan (AGN) filed a request in a California court for a judge to hinder Bill Ackmanís Pershing Square from voting its 10% stake at the December shareholder meeting, according to Bloomberg, citing the filing. A hearing regarding Allergan's request is set to occur on October 28. Reference Link
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