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Stock Market & Financial Investment News

News Breaks
June 20, 2014
11:29 EDTAKRX, ACTFTC approves settlement with Akorn over Hi-Tech Pharmacal acquisition
The Federal Trade Commission has approved a final order settling charges that Akorn Enterprises’ (AKRX) $640M acquisition of Hi-Tech Pharmacal was anticompetitive and would lead to higher prices for consumers in several current and future generic drug markets. The final order settling the FTC’s charges requires the parties to sell either Akorn’s or Hi-Tech’s rights and assets to each of five drug products to Watson Laboratories (ACT) and required Akorn to assign Watson its contract for making a currently available branded and generic topical anesthetic cream within 10 days after the deal is completed. Reference Link
News For AKRX;ACT From The Last 14 Days
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May 28, 2015
14:26 EDTACTFDA approves sNDA for Asacol
Actavis' Warner Chilcott received FDA approval for its efficacy supplement with clinical data to support for Asacol. Reference Link
09:24 EDTAKRXJefferies 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).
09:17 EDTACTDrug approval great news for Actavis, says BMO Capital
BMO Capital says that FDA approval of Actavis' new drug for irritable bowel syndrome associated with diarrhea, Viberzi, is "great news" for the company. The firm thinks that Viberzi will be very complimentary to Linzess and future GI products, and it expects the launch to be successful. The firm keeps an Outperform rating on the shares.
08:24 EDTACTActavis added to Focus List with $360 target at Citigroup
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06:45 EDTAKRXAkorn risk/reward compelling into restatements, says JPMorgan
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May 27, 2015
19:14 EDTACTOn The Fly: After Hours Movers
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17:34 EDTACTActavis receives FDA approval for VIBERZI for treatment of IBS-D
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May 22, 2015
16:07 EDTACTActavis confirms court ruling requiring continued distribution of NAMENDA IR
Actavis confirmed that a panel of the U.S. Court of Appeals for the Second Circuit has issued a ruling upholding a December 15, 2014 preliminary injunction requiring the company to continue distribution of NAMENDA immediate-release tablets. Actavis noted that the company will continue to manage sales and R&D expenses to ensure that the Appeals court's decision will have minimal to no impact on its 2015 NAMENDA franchise contribution to earnings and longer term company earnings aspirations.
13:19 EDTACTNY AG says ruling on Actavis Alzheimer’s drug a victory for patients
New York Attorney General Eric Schneiderman, following a decision by the U.S. Court of Appeals for the Second Circuit to affirm the federal district court decision granting New York’s motion for a preliminary injunction against defendants Actavis and Forest Laboratories, stated: "Today’s appeals court decision is a sweeping victory for consumers and Alzheimer’s patients. Our lawsuit and the court’s injunction protect competition and prevent Actavis from coercing Alzheimer’s patients into taking drugs they do not want in order to charge them monopoly prices...My office will continue to protect New Yorkers from anticompetitive practices by drug manufacturers.”
11:26 EDTACTCourt rules Actavis can't pull Alzheimer's drug for pricer new one, Reuters says
A three-judge panel of a New York appeals court upheld a prior order requiring Actavis to keep the older version of its Alzheimer's drug, Namenda IR, on the market following the company's launch of a more expensive extended-release version, reported Reuters. Reference Link
11:23 EDTACTCourt rules Actavis can't pull Alzheimer's drug for pricer new one, Reuters says
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10:52 EDTACTJPMorgan says Actavis shares cheap compared to peers
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07:44 EDTACTActavis trades at over 20% discount to Major Pharma, says JPMorgan
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May 18, 2015
11:21 EDTACTAckman sold out of Actavis stake after Q1 report, NY Post says
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08:01 EDTACTActavis launches Namzaric to treat moderate to severe Alzheimer's
Actavis announced that NAMZARIC, a once-daily, fixed-dose combination of memantine hydrochloride extended-release, and donepezil hydrochloride, is now available to patients and healthcare professionals across the United States. NAMZARIC was approved by the FDA in December for the treatment of moderate to severe Alzheimer's disease in patients stabilized on memantine hydrochloride and donepezil hydrochloride.
07:22 EDTACTUBS to hold a conference
Global Healthcare Conference is being held in New York on May 18-20 with webcasted company presentations to begin on May 18 at 8 am; not all company presentations may be webcasted. Webcast Link
07:21 EDTAKRXAkorn receives NASDAQ delinquency notice
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07:15 EDTACTPhysician feedback on Actavis Eluxadoline positive, says RBC Capital
After conducting a survey, RBC Capital says that physician enthusiasm about Actavis' Eluxadoline is high ahead of its expected early 2016 launch. The firm thinks the drug could be an important P&L driver for the company and keeps a Top Pick rating on the shares.
06:58 EDTACTActavis CEO says chances of Pfizer offer are 'unlikely', Financial Times says
Actavis (ACT) CEO Brent Saunders said the chances of Pfizer (PFE) making an offer are "incredibly unlikely," reports the Financial Times. Saunders said he has heard the gossip that Actavis could become a takeover target for a larger group, but he spends "zero time thinking about it." Reference Link

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