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Stock Market & Financial Investment News

News Breaks
July 21, 2014
08:11 EDTARNA, TEVAArena Pharma' subsidiary enters into agreement for Belviq with Teva subsidiary
Arena Pharmaceuticals (ARNA) announced that its wholly owned subsidiary, Arena Pharmaceuticals, has entered into an exclusive marketing and supply agreement for BELVIQ with Teva Pharmaceutical Industries Limited's (TEVA) local Israeli subsidiary, Abic Marketing Limited. Under the agreement, Arena granted Abic the rights to market and distribute BELVIQ in Israel for weight loss or weight management in obese and overweight patients, subject to regulatory approval by the State of Israel Ministry of Health.
News For ARNA;TEVA From The Last 14 Days
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July 27, 2015
05:28 EDTTEVATeva withdraws proposal to acquire Mylan
Teva (TEVA) announced that it has withdrawn its cash and stock proposal to acquire all of the outstanding ordinary shares of Mylan (MYL) and Teva does not intend to continue to pursue a transaction with Mylan at this time. Teva’s decision to terminate the proposal to acquire Mylan follows announcement that Teva has entered into a definitive agreement with Allergan (AGN) to acquire Allergan Generics. Teva CEO Erez Vigodman commented, “We continue to believe that a combination of Teva and Mylan would have made sense for our companies, our respective stockholders and the healthcare industry as a whole. However, despite our clear commitment to consummating a transaction, and our conviction that we ultimately would have succeeded in acquiring Mylan, we believe we have an even greater opportunity to create compelling, sustainable value for Teva’s stockholders through our transaction with Allergan – and we acted quickly to seize the opportunity. Our agreement with Allergan will reinforce Teva’s strategy to create an even stronger business model in the industry and will position us well to grow the business and better serve our customers and patients.” Teva intends to review its options with respect to its ownership of approximately 4.6% of the outstanding ordinary shares of common stock of Mylan.
July 26, 2015
18:22 EDTTEVAMedia reports say Teva to buy Allergan unit as it looks beyond Mylan
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12:30 EDTTEVATeva nears deal to buy Allergan generics unit for $40.5B, Bloomberg says
Teva (TEVA) is nearing a deal to buy Allergan's (AGN) generic drug unit for roughly $40.5B and an agreement could be announced as early as Monday, reports Bloomberg, citing people familiar with the matter. Sources said Teva also plans to withdraw its bid for Mylan (MYL) as soon as Monday. Reference Link
12:17 EDTTEVATeva to cancel Mylan bid, plans offer for Allergan generics unit, Bloomberg says
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July 24, 2015
11:59 EDTTEVALeerink's specialty pharma/generics analyst has analyst/industry conference call
Specialty Pharmaceuticals/Generics Analyst Gerberry discusses the strengths and weaknesses of TEVA’s preliminary responses to the IPR challenge on Copaxone 40mg, the likely outcomes for the Copaxone 40mg patent challenge and the perspectives on recent updates in the Jazz Pharmaceuticals' Xyrem patent case on an Analyst/Industry conference call to be held on July 27 at 11 am.
06:56 EDTTEVAPaulson may play key role in Teva-Mylan-Perrigo drama, CTFN says
John Paulson's hedge fund, Paulson & Co., has upped its stake in Mylan (MYL) to 4.65%, which is below the threshold that would compel it to disclose its plans to the U.S. SEC but high enough for it to obtain standing before the Dutch Enterprise Chamber, which would hear any legal challenge to the "stichting" maneuver the company is employing to avoid a takeover by Teva (TEVA), said CTFN. The takeover fight is most likely headed for court in Amsterdam after Mylan's shareholder foundation exercised an option to acquire shares and Paulson's involvement is noteworthy since he teamed with Centaurus Capital in 2007 to thwart a stichting ploy used by Stork, the report noted. Reference Link
July 23, 2015
09:04 EDTTEVATeva says 'strongly disagrees' with Stichting stated analysis
Teva Pharmaceutical Industries (TEVA) issued the following statement regarding Stichting Preferred Shares Mylan’s (MYL) decision to exercise its call option: "We strongly disagree with the stated analysis of Stichting Preferred Shares Mylan and its decision to exercise its call option, which is unwarranted, relies on false assumptions, and risks depriving Mylan stockholders and other stakeholders of the value inherent in a combination of Teva and Mylan. We continue to believe that our proposed transaction offers a compelling opportunity for value-creation and many other benefits for the stockholders, customers, patients, and employees of both companies. We are well advised on Dutch law, including the ability of Mylan stockholders to challenge this action in court, and are prepared to take the necessary actions at the appropriate time."
08:48 EDTTEVAMylan, Teva lower after Stitching looks to thwart hostile deal
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08:34 EDTTEVAMylan foundation exercises call option to 'level playing field'
08:33 EDTTEVAMylan foundation says shareholders at risk of Teva takeover
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July 22, 2015
10:06 EDTTEVAAbbott CEO says supportive of Mylan pursuit of Perrigo
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09:30 EDTTEVAAbbott CEO says 'pretty alligned' with Mylan so far
July 21, 2015
15:42 EDTARNAArena Pharmaceuticals receives USPTO patent
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July 20, 2015
10:26 EDTTEVALeerink's specialty pharma/generics analyst has analyst/industry conference call
Specialty Pharmaceuticals / Generics Analyst Gerberry, along with MEDACorp Specialists Michael Belliveau, PhD and Shashank Upadhye, JD, discuss the strengths and weaknesses of TEVA's preliminary responses to the IPR challenge on Copaxone 40mg, the likely outcomes for the Copaxone 40mg patent challenge and perspectives on recent updates in the JAZZ Xyrem patent case on an Analyst/Industry conference call to be held on July 22 at 2 pm.
July 17, 2015
08:38 EDTTEVALeerink puts 25% odds on Teva, Mylan deal within 12 months
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July 15, 2015
10:08 EDTARNAHigh option volume stocks
High option volume stocks: ALIM RCPT SFXE ARNA ADTN ZGNX HALO STNG
09:23 EDTARNAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Bank of America (BAC), up 2.9%... CSX (CSX), up 2.6%. ALSO HIGHER: Hertz (HTZ), up 3.9% after being upgraded to Buy from Hold at Deutsche Bank. NOTABLE: Receptos (RCPT), up 10.5% following deal to be acquired by Celgene (CELG)... Celgene is up 7.9% after announcing acquisition of Receptos... UP AFTER RECEPTOS/CELGENE DEAL: ZIOPHARM Oncology (ZIOP), up 1.7%... Arena Pharmaceuticals (ARNA), up 6.5%. DOWN AFTER EARNINGS: Delta Air Lines (DAL), down 2.4%. ALSO LOWER: Mead Johnson (MJN), down 4.8% after reducing fiscal 2015 EPS guidance... Columbia Pipeline Partners (CPPL), down 5.6% after 4.64M share Block Trade priced at $24.15... SINA (SINA), down 2.7% after being downgraded to Hold from Buy at Deutsche Bank... MacroGenics (MGNX), down 2.8% after 3.25M share Secondary priced at $37.00.
07:58 EDTARNAAnalysts break down impact of $7.2B Receptos buyout
After Celgene (CELG) announced last night that the company has agreed to acquire Receptos (RCPT) for $232 per share in cash, or a total of about $7.2B net of cash acquired, research firms have chimed in with their opinions on how the proposed deal may impact others in the biotech space. Receptos key asset is Ozanimod, which is being studied in Phase III trials for relapsing multiple sclerosis and ulcerative colitis. DERIVATIVE CALLS: Piper Jaffray analyst Edward Tenthoff told investors that he views Celgene's deal for Receptos as good for Arena Pharmaceuticals (ARNA). The analyst notes that Arena's APD334 is already showing dose-dependent decreases in circulating lymphocyte counts and that the company will initiate Phase II studies in ulcerative colitis and Crohn's disease this year. Tenthoff reiterates an Overweight rating and $7.50 price target on Arena, which has a market capitalization around $1B and closed yesterday up 8c to $4.47. In its own note to investors this morning, Nomura said Celgene's deal could put downward pressure on Biogen's (BIIB) long-term multiple sclerosis estimates. Nomura's M. Ian Somaiya contended that one-year Phase II efficacy data for Ozanimod looked as good as Novartis’s (NVS) Gilenya and Biogen's Tecfidera’s Phase III at year 2. Somaiya also wondered if rival Gilead (GILD) could be "looking for something bigger" than Receptos for its own deal, telling investors that the firm views Incyte (INCY) as Gilead's most likely takeout target. Incyte's shares closed up $4.46 at $117.46 yesterday, giving the company a market cap of about $20B. RIVAL BID?: Wedbush analyst Liana Moussatos believes another bidder may seek to acquire Receptos, noting that she previously estimated Receptos could be valued at $348 per share, or about $10.9B, in a buyout. Moussatos noted that Celgene said it expects annual peak sales for Ozanimod to reach about $4B-$6B for RMS and UC, making its acquisition price of $7.2BN only a bit more than about 1X peak sales without accounting for other possible indications or the rest of its pipeline. Moussatos told investors she sees "plenty" of potential upside to justify a rival bidder stepping in and reiterated the firm's Outperform rating on Receptos shares. PRICE ACTION: In pre-market trading, Receptos rose 10% to $228.61 while Gilead gained 1.4% to about $119 per share.
05:59 EDTARNAPiper views Receptos buyout as good for Arena
Piper Jaffray analyst Edward Tenthoff views Celgene's (CELG) acquisition of Receptos (RCPT) as good for Arena Pharmaceuticals (ARNA). Tenthoff views Arena as a "derivative call" on the deal with the company's APD334 already showing dose-dependent decreases in circulating lymphocyte counts. Arena will also initiate Phase II studies in ulcerative colitis and Crohn's disease this year, the analyst points out. Receptos' ozanimod is being studied in Phase III trials for relapsing multiple sclerosis and ulcerative colitis. Tenthoff reiterates an Overweight rating on Arena with a $7.50 price target. The company has a market capitalization around $1B and closed yesterday up 8c to $4.47
July 14, 2015
09:53 EDTTEVAAdvocacy groups ask FTC to block Teva-Mylan deal, Bloomberg reports
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