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Stock Market & Financial Investment News

News Breaks
June 2, 2014
11:05 EDTAZN, CICigna, AstraZeneca in Crestor pact
Cigna (CI) has entered into a first-of-its-kind contract with AstraZeneca (AZN) to help ensure that customers are given an appropriate cholesterol-lowering medication based on their treatment needs. For Cigna customers who are at increased risk for atherosclerotic cardiovascular disease, ASCVD, and need to aggressively manage their low-density lipoprotein cholesterol, LDL-C, CRESTOR , a brand-name, cholesterol-lowering drug manufactured by AstraZeneca, can be prescribed and filled without requiring prior authorization. “Our arrangement with Cigna is an evolutionary step in supporting patient health, and facilitating access to CRESTOR for high risk patients. Predictive risk modeling can be used to help support the right treatment for the right patient at the right time, and we are excited to be working with Cigna because they are the only insurance carrier or Pharmacy Benefit Manager we have seen who has offered this capability,” says Philip de Vane, MD, Executive Director of US Medical Affairs, AstraZeneca.
News For AZN;CI From The Last 14 Days
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June 23, 2015
07:40 EDTCICigna price target raised to $175 from $160 at Leerink
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07:31 EDTAZNBIND Therapeutics announces FDA authorization of clinical trial with AZD2811
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07:30 EDTCIExperts: Antitrust issues exist in Cigna/Anthem deal, Reuters says
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June 22, 2015
18:56 EDTCICigna/Anthem deal could leave Humana with Aetna as only suitor, Bloomberg says
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17:04 EDTCIOn The Fly: Top stock stories for Monday
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13:20 EDTCIOn The Fly: Top stock stories at midday
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11:29 EDTCIAnthem says not aware of other bidders when making Cigna bid
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11:18 EDTCIAnthem says would suspend buybacks for year with signing of Cigna deal
Anthem (ANTM) says team has worked for months evaluating "realistic" synergies of potential Cigna (CI) deal. Says $2B in synergies within two years post-close "achievable." Sees international opportunities with Cigna acquisition. Says confident on attaining financing for Cigna purchase. Says expects to suspend buybacks for the year with signing of Cigna deal, but sees maintaining dividend. Anthem does not see regulatory issues thwarting deal. Says Cigna acquisition is a strategic priority. Comments being made on Anthem's update reaffirming its commitment to its $184 per share proposal for Cigna.
10:57 EDTCIAnthem to hold a conference call
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10:15 EDTCIAnthem repeats FY15 revenue view of about $78.5B, consensus $78.16B
Repeats FY15 revenue view $78.5B, sees revenue for a combined Anthem (ANTM)-Cigna (CI) at >$115B. Anthem sees greater than 10% accretive to adjusted EPS in first year post-close, with accretion more than doubling in year two. Assuming the transaction closes on December 31, 2016, sees $17.00+ adjusted EPS in 2018. Anthem says expects to maintain dividend payout ratio policy, committed to retaining investment grade debt ratings. Says committed to de-levering over 2-year period post-close. Says deal is "compelling" for Cigna shareholders. Says Anthem has made "good faith efforts" to engage in valuation and governance discussions with Cigna, says fully prepared to proceed immediately to finalize due diligence and merger agreement negotiations. Comments from slides that will be presented on Anthem's update reaffirming its commitment to its $184 per share proposal for Cigna.
09:14 EDTCIOn The Fly: Pre-market Movers
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09:02 EDTCICigna hits fresh highs after rejecting Anthem bid
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09:02 EDTCIAnthem reiterates commitment to $184 per share proposal for Cigna
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09:01 EDTCIAnthem reiterates commitment to $184 per share proposal for Cigna
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08:16 EDTCIAnthem, Cigna deal would be negative for Catamaran, says Leerink
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07:54 EDTCIAnthem, Cigna deal likely to be consummated, says Leerink
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07:16 EDTCIAnthem should be bought after Cigna offer, says Stifel
After Anthem, (ANTM) offered to buy Cigna (CI) and the latter company rejected the bid, Stifel estimates that the deal would have been 10% accretive for Anthem in the first year and 20% accretive in the second year. The firm thinks that accretion from the deal will probably be higher than expected. It also recommends buying Aetna (AET) as it believes that the Anthem offer suggests that Aetna will benefit more than expected from its own deal. The firm is cautious on Humana (HUM), saying that it may lose two potential buyers in Anthem and Cigna, while Humana may retreat if Aetna does not acquire the company quickly.
06:51 EDTCIHealth insurer tie-ups could cut competition, WSJ reports
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06:37 EDTCIHealth insurers may change policies based on King v. Burwell ruling, NYT says
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06:03 EDTCICigna implied volatility of 37 at upper end of index
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