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Stock Market & Financial Investment News

News Breaks
August 22, 2014
18:33 EDTVRX, AGNPershing Square submits requisite requests from Allergan holders to call meeting
Pershing Square Capital Management, the largest shareholder of Allergan (AGN), announced that it submitted the required documentation to compel Allergan to call a special meeting of Allergan shareholders. The written requests, from shareholders owning 31% of Allerganís shares, exceed the requirements under Allerganís certificate of incorporation and bylaws to call a special meeting. A substantial majority of the consents were delivered by shareholders who were holders of Allergan prior to the announcement of the proposal by Valeant Pharmaceuticals (VRX) and Pershing Square, and includes some of the longest-standing and largest shareholders of the company. The delivery of the consents starts the clock on the calling of the Special Meeting under the bylaws. Under its own interpretation of its bylaws, Allergan is now required to call the meeting no later than December 20. Pershing Square and Valeant filed litigation in Delaware seeking declaratory relief to require Allergan to schedule the meeting. Over the next few weeks, Pershing Square expects to deliver additional requests from shareholders who are in the process of completing the required documentation. Under the terms of the bylaws, Allergan shareholders have the opportunity to add to and update their consents with additional shares acquired through September 14. In addition, existing and new shareholders who have not previously submitted requests may submit requests for the meeting prior to that date. At the special meeting, Allergan shareholders will have the opportunity to voice their support for a number of critical matters, including the removal of six incumbent members of the Allergan board, the appointment of an independent slate of directors, amendments to Allerganís bylaws to eliminate onerous restrictions on the calling of a special meeting, a request that Allergan engage in negotiations with Valeant and Pershing Square, and certain other actions to improve corporate governance of Allergan.
News For AGN;VRX From The Last 14 Days
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May 28, 2015
09:24 EDTVRXJefferies sees Pharma M&A continuing, lists 22 possible targets
Jefferies analyst David Steinberg believes the M&A wave in the Pharmaceuticals space that began in 2005 can continue as the key drivers remain largely intact. In a note titled "Who is Next? The Feeding Frenzy in Specialty Pharmaceuticals," Steinberg sees deals continuing amid cheap debt, the push for lower corporate taxes and investors rewarding many acquirers for their transactions. He points out there are now around 100 publicly traded Specialty Pharmaceutical companies following the recent life sciences IPO boom. Potential takeover targets, according to Steinberg, include Valeant (VRX), Shire (SHPG), Perrigo (PRGO), Zoetis (ZTS), Mallinckrodt (MNK), Jazz Pharmaceuticals (JAZZ), United Therapeutics (UTHR), Pacira (PCRX), Indivior, Insys Therapeutics (INSY), The Medicines Co. (MDCO), Depomed (DEPO), Spectrum (SPPI), KYTHERA (KYTH), Revance (RVNC), XenoPort (XNPT), Mylan (MYL), Akorn (AKRX), Impax (IPXL), Amphastar Pharmaceuticals (AMPH), Anacor (ANAC) and BioDelivery Sciences (BDSI).
07:09 EDTVRXBioDelivery Sciences makes management changes to support Bunavail launch
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May 27, 2015
19:14 EDTVRXOn The Fly: After Hours Movers
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18:27 EDTVRXSalix receives FDA Approval of Xifaxan for treatment of IBS-D
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16:59 EDTVRXFDA approves Salix-marketed Xifaxan
The FDA approved Viberzi and Xifaxan, two new treatments, manufactured by two different companies, for irritable bowel syndrome with diarrhea, or IBS-D, in adult men and women. Xifaxan is marketed by Salix Pharmaceuticals, which was acquired by Valeant Pharmaceuticals. Reference Link
May 21, 2015
19:54 EDTVRXValeant to expand Canadian presence in coming years, Globe and Mail says
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May 20, 2015
06:37 EDTVRXSources: Valeant in talks to buy Amoun Pharmaceutical, Bloomberg reports
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06:32 EDTVRXValeant CEO sees quintupling in Asia sales by 2020, Reuters reports
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May 15, 2015
17:15 EDTVRXPaulson & Co. gives quarterly update on stakes
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17:08 EDTVRXSoros Fund gives quarterly update on stakes
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17:03 EDTVRXPershing Square gives quarterly update on stakes
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10:55 EDTVRXJANA Partners gives quarterly update on stakes
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10:29 EDTAGNAmerican Urological Association to hold an annual meeting
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