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Stock Market & Financial Investment News

News Breaks
May 1, 2014
06:12 EDTAZN, AGNStocks with implied volatility below IV index mean; AGN AZN
Stocks with implied volatility below IV index mean; AstraZeneca (AZN) 28, Allergan (AGN) 24.
News For AZN;AGN From The Last 14 Days
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March 23, 2015
09:45 EDTAZNUBS to hold a field trip
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09:06 EDTAZNInsmed appoints Eugene Sullivan as Chief Medical and Scientific Officer
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09:03 EDTAZN, AGNLeerink analysts hold a meeting with a conference call hookup
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07:36 EDTAZNPfizer should rise 'significantly' over next two years, says Jefferies
Jefferies analyst Jeffrey Holford told investors this morning that he expects shares of Pfizer (PFE) to appreciate "significantly" over the next two years. A survey of U.S. oncologists indicated the company's Ibrance drug will be used in 50% of first line hormonal therapy within one year, with off-label use in all lines of therapy including adjuvant, Holford noted. He thinks peak sales of the drug could top $13B, which is well above consensus. In addition, the analyst views Pfizer's Global Established Pharmaceutical business as being underappreciated by the market. Potential value creating options for the pharmaceutical giant include spinning off its GEP unit by 2017 and accretive acquisitions, with possible takeover targets being Shire (SHPG), Actavis (ACT), AstraZeneca (AZN) and GlaxoSmithKline (GSK), in the eyes of Holford. He added the stock to the firm's Franchise Picks list, which encompasses its best ideas. He also raised his price target for Pfizer to $45 from $42. The stock closed Friday up 10c to $34.25.
March 20, 2015
07:55 EDTAZNAstraZeneca seen as potential target again if oncology drugs lag, Bloomberg says
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March 19, 2015
08:37 EDTAZNNektar and Daiichi Sankyo to commercialize Movantik in the U.S.
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March 17, 2015
14:10 EDTAZNIGI Laboratories recent sell-off a buying opportunity, says Craig-Hallum
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09:13 EDTAGNActavis says Allergan CEO not joining combined company board
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08:58 EDTAGNActavis sees double digit accretion to adjusted EPS within first 12 months
08:58 EDTAGNActavis says will 'immediately begin implementing' integration plans
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08:57 EDTAGNActavis completes acquisition of Allergan
Actavis plc (ACT) announced that it has completed the acquisition of Allergan (AGN) in a cash and equity transaction valued at approximately $70.5B. The combination creates one of the world’s top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23B anticipated in 2015. Actavis continues to expect the transaction to generate double-digit accretion to non-GAAP earnings within the first 12 months, including approximately $1.8B in operating and financial synergies to be realized within one year following the close. These synergies exclude any additional revenue or manufacturing synergies, and are in addition to the $475M of annual savings previously announced by Allergan in connection with Project Endurance. Actavis further expects to generate strong operating cash flow in excess of $8B in 2016, which would enable the company to rapidly de-lever the balance sheet.
08:56 EDTAGNActavis completes Allergan acquisition valued at $70.5B
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March 16, 2015
18:38 EDTAGNAmerican Airlines to replace Allergan in S&P 500 as of 3/20 close
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17:19 EDTAGNAmerican Airlines to replace Allergan in S&P 500 as of 3/20 close
10:22 EDTAGNEuropean Commission clears Actavis' pending acquisition of Allergan
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10:14 EDTAGNOptions with decreasing implied volatility
Options with decreasing implied volatility: EXPR ULTA SGMS QIHU BKS PAY URBN AGN AGNC
07:30 EDTAZNAmerican College of Cardiology to hold an expo
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March 13, 2015
11:19 EDTAZNBioMarin rallies amid positive call on DMD drug timeline, takeover rumor
The shares of drug maker BioMarin (BMRN) are climbing after research firm Jefferies quoted a regulatory expert as saying that the company's drisapersen drug has a good chance of being approved on an accelerated basis by the FDA. Drisapersen is a treatment for Duchenne Muscular Dystrophy, or DMD. WHAT'S NEW: "There is a strong possibility" that the FDA will grant accelerated approval to drisapersen because there is currently no approved drug for the treatment of DMD, Jefferies analyst Eun Yang quoted the expert as saying. The expert is also optimistic about the outlook for accelerated approval because she had a good experience working with BioMarin while she was with the FDA and because BioMarin has a favorable track record with the FDA, according to Yang. There is a 60% chance that drisapersen will be approved by the end of this year and the stock can rise to $155, versus its current level of about $121.50, if that does occur, the analyst stated. Yang's price target on the stock increased to $135 from $125 and the analyst kept a Buy rating on the shares. WHAT'S NOTABLE: Pharmaceutical giant AstraZeneca (AZN) has been rumored to be interested in buying BioMarin for $175 per share in cash, British newspaper Daily Mail reported. , Piper Jaffray analyst Joshua Schimmer wrote in a note to investors this morning that BioMarin, along with Vertex (VRTX) and Incyte (INCY), have a "clear path" to joining the group of companies with market caps of over $10B projected to deliver greater than 20% EPS CAGR, which the analyst identified as a set of criteria that has previously pointed to companies that make good potential takeover targets. PRICE ACTION: In mid-morning trading, BioMarin climbed nearly 4% to $120.
08:07 EDTAZNAstraZeneca rumored to have BioMarin 'on shopping list,' Daily Mail says
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March 12, 2015
17:08 EDTAZNActavis: Court grants injunction pending appeal relating to Pulmicort RESPULES
Actavis (ACT) confirmed that the United States Court of Appeals for the Federal Circuit has granted AstraZeneca's (AZN) request for an injunction pending appeal preventing Actavis from further distribution of its generic version of Pulmicort RESPULES. Under the ruling, Actavis' sales of generic Pulmicort have been enjoined pending the resolution of AstraZeneca's appeal before the Court. The Court has set an expedited briefing schedule for the appeal, with expedited briefing to be concluded within 33 days. The injunction does not address product shipped prior to its issuance. Actavis' sales of generic Pulmicort had previously been enjoined under a temporary injunction granted by the Appeals Court on February 16. The Appeals Court ruling followed the Feb. 13 launch of Actavis' product after the United States District Court for the District of New Jersey (i) found United States Patent No. 7,524,834 invalid, and (ii) denied AstraZeneca's request for a permanent injunction. Pulmicort RESPULES is a maintenance medicine used to control and prevent asthma symptoms in children ages 12 months to 8 years. For the 12 months ended June 30, 2014, total U.S. brand and generic sales of Pulmicort RESPULES were approximately $1.1B.
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