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Stock Market & Financial Investment News

News Breaks
June 25, 2014
08:09 EDTAUXLAuxilium files for EU approval of Xiapex for Peyronies disease
Auxilium and Swedish Orphan Biovitrum AB announced that Sobi has filed for an extension of the label for Xiapex - collagenase clostridium histolyticum - with the EMA to include the indication of Peyronie's disease. The filing is based on positive safety and efficacy outcome data from two double-blind placebo-controlled studies. Sobi is Marketing Authorisation Holder for Xiapex in 28 EU member countries as well as Norway and Iceland.
News For AUXL From The Last 14 Days
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September 18, 2014
06:10 EDTAUXLFDA panel votes 20-1 to study changes to testosterone therapies
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06:05 EDTAUXLVIVUS, Auxilium announce FDA approval of STENDRA sNDA
VIVUS (VVUS) and Auxilium Pharmaceuticals (AUXL) announced that the FDA has approved a supplemental new drug application, or sNDA, for STENDRA. STENDRA is now the only FDA-approved erectile dysfunction, or ED, medication indicated to be taken as early as approximately 15 minutes before sexual activity. STENDRA is a prescription medication in a class of drugs known as phosphodiesterase type 5, or PDE5, inhibitors approved for the treatment of ED in men 18 years or older. STENDRA is available in multiple dosage strengths and may be taken with or without food and moderate alcohol consumption. In clinical studies, when compared to placebo, STENDRA helped more men achieve an erection in as early as approximately 15 minutes that lasted long enough to successfully complete sexual intercourse.
September 17, 2014
16:25 EDTAUXLOn The Fly: Closing Wrap
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16:18 EDTAUXLAuxilium downgraded to Market Perform from Outperform at Leerink
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12:22 EDTAUXLOn The Fly: Midday Wrap
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12:15 EDTAUXLAuxilium climbs, QLT falls after Endo submits takeover bid
Shares of drug maker Auxilium (AUXL) are rallying after another company in the sector, Endo (ENDP), offered to buy Auxilium for $28.10 per share. Endo said that Auxilium's 12 FDA approved products in urology, orthopedic and other areas are "natural complements" to Endo's men's health and pain products, while Auxiium said it would consider the offer. The potential deal, however, jeopardizes Auxiium's prior agreement to acquire another drugmaker, QLT Inc. (QLTI). WHAT'S NEW: Endo announced last night that it had made a cash and stock bid of $28.10, or $2.2B, for Auxilium. The latter company announced this morning that it would "carefully review" the offer. The two companies have "significant synergy opportunities" and the deal is "expected to be immediately accretive" to Endo's EPS, the hopeful buyer added. WHAT'S NOTABLE: On June 26, Auxilium announced that it would merge with Canada's QLT Inc. According to Sterne Agee analyst Shibani Malhotra, Endo said last night that it was not interested in acquiring QLT and Auxilium would have to choose between merging with QLT and being acquired by Endo. ANALYST REACTION: Although Endo's bid represents a 30%+ premium to Auxilium's closing price yesterday, Jefferies analyst Thomas Wei believes that the synergies outlined by Endo justify a higher takeout price. Specifically, the analyst thinks that Auxilium could be acquired for $34 to $45 per share. Wei kept a $34 price target and Buy rating on Auxilium. For his part, Malhotra predicted that Auxilium would approve the Endo deal and reject the QLT merger. The bid appears to be substantially accretive for Endo, added the analyst, who kept a $75 price target and Buy rating on Endo's shares. PRICE ACTION: In early afternoon trading, Auxilium surged over 43% to $30.88 and Endo advanced 6.5% to $69.35, while QLT dropped 12% to $5.46.
10:48 EDTAUXLHigh option volume stocks
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09:11 EDTAUXLEndo offer likely to be accepted by Auxilium, says Sterne Agee
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09:10 EDTAUXLOn The Fly: Pre-market Movers
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08:44 EDTAUXLBioDelivery Sciences remains takeout candidate for Endo, says Summer Street
Summer Street believes a potential takeover of BioDelivery Sciences (BDSI) by partner Endo (ENDP) is no less likely after Endo made a bid to acquire Auxilium (AUXL). The firm believes an Endo buyout of BioDelivery is likely a 2015 event when BioDelivery's Bunavail for opioid dependence is on the market and BEMA Buprenorphine is facing FDA approval. Summer Street says it is a buyer of BioDelivery Sciences on weakness this morning and keeps a Buy rating on the name with a $28 price target.
08:06 EDTAUXLAuxilium likely to require higher bid from Endo, says MKM Partners
After Endo (ENDP) made a $28.10 per share bid for Auxilium (AUXL), MKM Partners believes that Endo will probably have to bid at least $32 to buy Auxilium. The firm raised its price target on Auxilium to $32 from $26 and reiterates a Buy rating.
07:58 EDTAUXLEndo, Auxilium deal can create significant synergies, says Canaccord
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07:39 EDTAUXLEndo deal for Auxilium highly complimentary, says UBS
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07:15 EDTAUXLEndo bid for Auxilium positive, says Wells Fargo
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07:14 EDTAUXLAuxilium to 'carefully review' proposal from Endo for $28.10 per share
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07:12 EDTAUXLQLT Inc. provides update on merger with Auxilium
QLT Inc. (QLTI) announces that it has been advised by Auxilium Pharmaceuticals (AUXL) that Auxilium has received an unsolicited offer from Endo International (ENDP) to acquire all of the issued and outstanding shares of Auxilium. Auxilium has further advised QLT that the board of Auxilium is reviewing the Endo Proposal, and has not withdrawn, modified, withheld, changed or qualified its recommendation with respect to the proposed merger with QLT pursuant to the Agreement and Plan of Merger among QLT, Auxilium, QLT Holding, and QLT Acquisition, dated June 25. The Merger Agreement continues in full force and effect. In accordance with the Merger Agreement, QLT has consented to the adoption by Auxilium of a stockholder rights plan in response to the Endo Proposal.
07:11 EDTAUXLAnalysts say Auxilium QLT deal could be snarled by Endo bid, Reuters says
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07:04 EDTAUXLAuxilium could be worth $34-$45/share in takeout, says Jefferies
Jefferies believes Auxilium (AUXL) could be worth more than the $28.10 per share offer by Endo (ENDP). The firm says it can get to valuations of $34-$45 per share for Auxilium under a takeout scenario. Jefferies thinks proposed acquisition cost "leaves considerable value on the table." It keeps a Buy rating on Auxilium with a $34 price target. In pre-open trading, Auxilium is trading well above Endo's offer price at $30.26 per share, up 41% or $8.74.
06:36 EDTAUXLEndo volatility expected to move on Endo acquisition proposal
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06:25 EDTAUXLAuxilium volatility expected to move on Endo acquisition proposal
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