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Stock Market & Financial Investment News

News Breaks
March 13, 2014
07:13 EDTATRS, ACTAntares Pharma reports Q4 EPS (4c), consensus (5c)
Antares Pharma (ATRS) reports Q4 revenue $4.75M, consensus $6.15M. The company said "Product revenue decreased in Q4 to $0.9M. The decrease in product revenues in Q4 was primarily due to a decrease in sales of oxybutynin gel 3% product to Actavis (ACT), as Actavis assumed all manufacturing of Gelnique 3% in 1Q13, as contracted.
News For ATRS;ACT From The Last 14 Days
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September 23, 2014
14:23 EDTACTPfizer approached Actavis about takeover, Bloomberg reports
Pfizer (PFE) approached Actavis (ACT) to express interest in an acquisition, Bloomberg reports, citing people with knowledge of the matter said. No formal talks are ongoing and Pfizer has not made an offer, Bloomberg adds. Pfizer is still considering pursuing a deal with AstraZeneca (AZN) as well as other options, the report says. Shares of Actavis rallied 3% to $243.06 following the story. Reference Link
14:22 EDTACTActavis spikes on report Pfizer approached on takeover
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14:12 EDTACTPfizer weighing options including AstraZeneca bid, Bloomberg says
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14:12 EDTACTPfizer approached Actavis about takeover, Bloomberg reports
12:28 EDTACTSalix climbs after reports say Allergan discussing takeover
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09:13 EDTACTOn The Fly: Pre-market Movers
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08:31 EDTACTSalix takeout price could be $200 per share, says Leerink
Leerink estimates a takeout valuation for Salix (SLXP) of $200 per share, but says it would start recommending investors take profits above $185. The firm believes a potential deal with Allergan (AGN) would likely include an above-average break-up fee. Leerink thinks a competitive bid could surface, and points out Actavis (ACT) has more overlapping cost structure with Salix than Allergan. Shares of Salix are up 9% to $173.48 in pre-market trading after Wall Street Journal reported the company is in merger talks with Allergan.
07:57 EDTATRSAntares Pharma management to meet with Deutsche Bank
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06:40 EDTACTPiper says don't dismiss potential Pfizer bid for Actavis
Piper Jaffray says it would not be dismissive of Pfizer (PFE) as a potential acquirer of Actavis (ACT). Piper believes Pfizer's public M&A comments are supportive of Actavis' exposure to complex generics and emerging markets. The firm views Actavis shares as attractively valued, irrespective of the acquisition chatter. It reiterates an Overweight rating on the stock with a $280 price target.
September 22, 2014
19:03 EDTACTAllergan rejected buyout bid from Actavis, in advanced talks for Salix, WSJ says
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10:15 EDTACTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Equal Weight from Overweight at Barclays... Aetna (AET) downgraded to Neutral from Buy at BofA/Merrill... Auxilium (AUXL) downgraded to Hold from Buy at Stifel... CARBO Ceramics (CRR) downgraded to Neutral from Buy at Sterne Agee... Commerzbank (CRZBY) downgraded to Underperform from Neutral at Exane BNP Paribas... Concur (CNQR) downgraded to Neutral from Buy at Nomura... Dresser-Rand (DRC) downgraded to Neutral from Accumulate at Global Hunter... Finish Line (FINL) downgraded to Equal Weight from Overweight at Morgan Stanley... General Communications (GNCMA) downgraded to Hold from Buy at Drexel Hamilton... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... Las Vegas Sands (LVS) downgraded to Market Perform from Outperform at Wells Fargo... Lindsay Corp. (LNN) downgraded at Sterne Agee... Melco Crown (MPEL) downgraded to Market Perform from Outperform at Wells Fargo... Outerwall (OUTR) downgraded to Sell from Neutral at B. Riley... PSEG (PEG) downgraded to Hold from Buy at Jefferies... Realogy (RLGY) downgraded to Underperform from Neutral at Credit Suisse... Regal-Beloit (RBC) downgraded to Accumulate from Buy at Global Hunter... SABMiller (SBMRY) downgraded to Market Perform from Outperform at Bernstein... Saba Software (SABA) downgraded to Neutral from Buy at B. Riley... Suburban Propane (SPH) downgraded to Market Perform from Outperform at Wells Fargo... Swiss Re (SSREY) downgraded to Underperform from Neutral at Exane BNP Paribas... Towers Watson (TW) downgraded to Buy from Conviction Buy at Goldman... Valmont (VMI) downgraded at Sterne Agee... Walgreen (WAG) downgraded to Equal Weight from Overweight at Barclays... Watts Water (WTS) downgraded to Neutral from Buy at Janney Capital... Wynn Resorts (WYNN) downgraded to Market Perform from Outperform at Wells Fargo... Yahoo (YHOO) downgraded to Neutral from Buy at BofA/Merrill.
08:10 EDTACTActavis multiple expansion case 'compelling,' says JPMorgan
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05:52 EDTACTActavis downgraded to Equal Weight from Overweight at Barclays
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September 19, 2014
14:18 EDTACTAkorn competition settlement over VersaPharm deal approved by FTC
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September 17, 2014
16:18 EDTACTDepomed says FDA recognizing 7 years orphan-drug exclusivity for Gralise in PHN
Depomed (DEPO) disclosed in a filing that on September 16 the company received a letter from the FDA informing the company that pursuant to the order issued on September 5 by a judge of the U.S. District Court for the District of Columbia, the FDA is recognizing seven years of orphan-drug exclusive approval for the company’s Gralise for the management of postherpetic neuralgia. The letter also confirms the FDA will not approve any abbreviated New Drug Application referencing Gralise during the period of orphan-drug exclusive approval, which began on January 28, 2011. The FDA has 60 days after issuance of the order in Depomed, Inc. v. HHS to file a notice appealing the order to the United States Court of Appeals for the Federal Circuit. The period of orphan drug exclusivity applicable to Gralise for PHN is separate from marketing exclusivity arising from the previously disclosed decision issued on August 19 in the company’s patent litigation lawsuit against Actavis (ACT) related to an ANDA filed by Actavis seeking to market generic versions of Gralise. The decision found that Actavis infringed all seven of the company’s patents asserted in the litigation, upheld the validity of the patents and enjoined FDA approval of the Actavis ANDA until February 26, 2024, the latest expiration date of the infringed patents. On September 15, Actavis filed a notice appealing the decision to the United States Court of Appeals for the Federal Circuit, Depomed stated. Previously disclosed settlement agreements between the Company and two other Gralise ANDA filers permit the sale of generic Gralise beginning on January 1, 2024.
11:01 EDTACTActavis drops after NY AG seeks to block Alzheimer drug switch
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09:16 EDTACTActavis Namenda sales of $990M could be at risk, says BMO Capital
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09:06 EDTACTNew York AG files antitrust lawsuit against Actavis
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September 16, 2014
11:51 EDTACTOECD looks to close tax loopholes with new proposals
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06:06 EDTACTActavis, subsidiary sued by NY attorney general, Reuters says
New York attorney general Eric Schneiderman filed a lawsuit versus Actavis and its subsidiary, Forest Laboratories, to impede the firms from stopping its Alzheimer's medication production, claiming that they were aiming to illegally maintain a monopolistic stance, according to Reuters, citing comments from Schneiderman. Reference Link
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