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February 12, 2014
08:11 EDTAGNAllergan outlook has improved, says Wells Fargo
After meeting with Allergan's management, Wells Fargo is more confident in the company's growth momentum and outlook. The firm thinks the company's 2014 guidance is likely conservative, and it keeps an Outperform rating on the shares.
News For AGN From The Last 14 Days
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October 5, 2015
10:02 EDTAGNBofa/Merrill healthcare analysts hold an analyst/industry conference call
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October 2, 2015
14:14 EDTAGNGabelli liquidates stake in KYTHERA
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08:31 EDTAGNAllergan and Humana announce research partnership
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07:04 EDTAGNHorizon Pharma enters settlement pact with Actavis Labs over RAYOS
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October 1, 2015
09:12 EDTAGNAllergan completes Kythera acquisition
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07:39 EDTAGNJPMorgan sees opportunities in pharma after pullback
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07:03 EDTAGNAllergan receives approval from FDA to market Juvederm Ultra XC
Allergan announced that the company has received approval from the FDA to market JUVEDERM ULTRA XC for injection into the lips and perioral area for lip augmentation in adults over the age of 21. JUVEDERM ULTRA XC instantly adds fullness to the lips and is the only dermal filler that has proven results lasting up to one year for lip augmentation. Since JUVEDERM formulations were first approved in the United States in 2006, physicians and patients have relied on them to correct moderate to severe facial wrinkles and folds, such as the parentheses lines around the nose and mouth. This heritage has continued with introduction of JUVEDERM(R) VOLUMA XC for age-related mid-face volume loss in 2013, and now, with JUVEDERM ULTRA XC for lip augmentation. In clinical trials of JUVEDERM ULTRA XC, the majority of subjects reported improvement in the softness, smoothness and natural look and feel of their lips through one year. In clinical trials, 79% of subjects showed a meaningful improvement in lip fullness three months after treatment. Additionally, more than 78% of subjects reported an improvement in their overall satisfaction with the look and feel of their lips at one year after treatment.
September 29, 2015
13:28 EDTAGNAllergan volatility at 52-week high on share price pull back
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12:33 EDTAGNOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday as the market seeks to break its losing streak, helped by an improvement in consumer confidence that came despite the recent market volatility. ECONOMIC EVENTS: In the U.S., consumer confidence unexpectedly rose in September. Analysts expected the consumer confidence reading to pull back to 96.8 from the prior 101.5 figure, but it actually strengthened to 103.0. The S&P/Case-Shiller 20-city composite home price index was up a seasonally adjusted 0.2% month over month in July, versus the consensus forecast for a rise of 0.1%. Stocks sold off in much of Asia last night, with China's Shanghai composite index sliding 2% while Japan's Nikkei dropped 4%, erasing year-to-date gains in the process. COMPANY NEWS: Shares of Yahoo (YHOO) advanced 3% after its board authorized the company to continue to pursue its spin-off of Aabaco Holdings, a newly formed independent registered investment company that will hold all of Yahoo's remaining holdings in Alibaba Group (BABA). MAJOR MOVERS: Among the notable gainers was Radius Health (RDUS), which rose nearly 10% after Ben Harrington of the Betaville blog stated during an appearance on Tip TV that he has heard that "something will be happening" in terms of M&A involving the company over the "next few weeks." Also higher were several recently beaten down biotech stocks that were seeing some bounceback, including Vertex Pharmaceuticals (VRTX), which gained 5%, and Biogen (BIIB), which advanced 4%. Notably, both of them, along with Amgen (AMGN), were mentioned in a note to investors by Cowen analyst Ken Cacciatore as "hypothetical" targets for Allergan (AGN). Among the noteworthy losers was OvaScience (OVAS), which dropped 38% after saying it now longer expects to meet its 2015 goal of 1,000 Augment cycles. Esperion (ESPR) also fell 38% after the company warned that the FDA could require it to undertake new studies before its ETC-1002 is approved. INDEXES: Near midday, the Dow was up 7.27, or 0.05%, to 16,009.16, the Nasdaq was up 7.38, or 0.16%, to 4,551.35, and the S&P 500 was up 4.56, or 0.24%, to 1,886.33.
10:00 EDTAGNOn The Fly: Analyst Initiation Summary
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08:57 EDTAGNCowen lists Vertex, Biogen and Amgen as hypothetical Allergan targets
Cowen analyst Ken Cacciatore noted that the price agreed for Allergan's (AGN) generic divestiture to Teva (TEVA) is fixed and that the cash value from this deal has not depreciated in any way while the corresponding valuations of potential targets have corrected, increasing the potential value creation available for Allergan as it decides how to deploy its capital. To illustrate the value creation that Allergan's capital deployment could generate, Cacciatore estimates the type of accretion potential that might be seen if the company were to buy Vertex with an acquisition price of $36.5B, if it were to acquire Biogen (BIIB) at a price of $91B or if it were to purchase Amgen (AMGN) with an acquisition price of $140B. Although the market correction has lowered Allergan's stock, the decline could be viewed as a near-term positive, given that a key component of its strategy and business model is to seek to aggressively deploy its capital, Cacciatore argues in a note to investors. The analyst keeps an Outperform rating and $400 price target on Allergan shares.
08:18 EDTAGNAllergan initiated with a Buy at Nomura
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08:03 EDTAGNAllergan price target lowered to $311 from $357 at Leerink
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07:09 EDTAGNAllergan selloff brings 'compelling' buying opportunity, says JPMorgan
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September 28, 2015
16:40 EDTAGNAllergan to begin reporting Global Generics business as discontinued ops in Q3
Allergan (AGN) intends to begin reporting its Global Generics business as discontinued operations with its third quarter 2015 results. The transaction with Teva (TEVA) is expected to close in the first quarter of 2016.
16:23 EDTAGNAllergan sees 10% branded revenue growth after divestiture of generics unit
Following the close of the divestiture of the Generics business to Teva (TEVA), New Allergan (AGN) expects to have a powerful financial profile to drive continued long-term growth: 10% branded revenue growth; Non-GAAP gross margins of 77% to 79% with additional long-term expansion anticipated; Non-GAAP SG&A as a percentage of revenue between 21-24%, declining within that range over time; Non-GAAP tax rate of ~15%; Interest expense for New Allergan will be largely dependent on capital deployment decisions following the close of the transaction; Commitment to investment grade ratings. "New Allergan will have strong double-digit revenue growth and will be a development powerhouse stacked with 70 mid-to-late stage R&D projects to address customer and patient needs," said Brent Saunders, CEO and President. "The New Allergan will be lean and nimble with an expanded margin profile driven by leading brands in seven therapeutic categories, a streamlined operating model with one of the most efficient SG&A as a percentage of sales in the industry, a non-GAAP tax rate of approximately 15 percent, and a simplified manufacturing network globally. The continued robust performance of our overall business and strong mid-to-late stage pipeline puts Allergan in a strong position to meet our growth targets for the remainder of the year and over the long-term."
16:21 EDTAGNAllergan sees 2H15 adjusted EPS $6.25-$6.65
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07:52 EDTAGNIIR Holdings to hold a conference
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September 25, 2015
08:00 EDTAGNAllergan launches generic version of INVEGA
Allergan announced that it has launched a generic version of Janssen's INVEGA in the U.S. Allergan is the first company to receive FDA approval for and launch a generic version of INVEGA, demonstrating the deep expertise of the Company's global generics R&D, regulatory and supply chain teams.
September 24, 2015
14:17 EDTAGNAppeals court affirms Shire Vyvanse patents valid until 2023
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