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Stock Market & Financial Investment News

News For AZN;MYL;TEVA From The Last 14 Days
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April 17, 2015
16:31 EDTMYL, TEVAStocks end week lower amid earnings reports, fear about Greece, China
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16:24 EDTTEVA, MYLOn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session deep in negative territory and remained there throughout the day. The losses were broad based, with the S&P 500 losing 1% and the Dow and Nasdaq each sliding about 1.5%. There was little in the way of buying, as the number of declining stocks dwarfed the number of advancing stocks. Fears about Greece exiting the euro, steps taken by securities regulators in China and inflation data here at home were all pointed to as potential contributors to the down day in the market. The slide also coincided with the expiration of options, which can lead to volatility and heavy volume. ECONOMIC EVENTS: In the U.S., the headline Consumer Price Index rose 0.2% in March, versus expectations for it to be up 0.3%. The "core" rate, excluding food and energy prices, rose 0.2%, as expected. The leading economic index rose 0.2% to 121.4 in March, versus expectations for it to be up 0.3%. The University of Michigan consumer sentiment index jumped 2.9 points to 95.9 in the preliminary print for April, topping expectations for a 94.0 reading. In China, announcements by Chinese securities regulators, the Shanghai and Shenzhen stock exchanges, and related bodies raised fears of a selloff in China. The China Securities Regulatory Commission imposed sanctions to try to control margin buying of stocks with borrowed money and the Securities Association of China said it will allow fund managers to lend stocks for short selling to increase the supply of shares. In Europe, strategists reportedly said a lack of progress in negotiations between Greece and its creditors had substantially increased the risk of Greece defaulting on its debt and even exiting the euro. COMPANY NEWS: Shares of both Comcast (CMCSA) and Time Warner Cable (TWC) dropped after Bloomberg, citing sources, reported that lawyers at the Justice Departmentís antitrust division are leaning toward making a recommendation to file suit to block the companies' proposed merger. Spokespeople for Comcast and TWC reportedly told Bloomberg they see "no basis" for a lawsuit to block the transaction. Comcast ended the day down $1.25, or 2.09%, to $58.42, while Time Warner Cable shares slid $8.59, or 5.43%, to $149.61... First the Wall Street Journal, then Bloomberg, reported that Teva Pharmaceutical (TEVA) is internally discussing a potential takeover bid for Mylan (MYL). Shares of both moved higher following the reports, which Mylan responded to by stating that it is fully committed to its stand-alone strategy, including its proposal to acquire Perrigo (PRGO). Mylan Chairman Robert Coury said that rumors of potential interest from Teva have been "circulating for some time," but that such a combination is "without sound industrial logic or cultural fit" and would be unlikely to receive antitrust regulatory clearances. Coury added that Mylan's board would "carefully consider" a bid if any party makes an "actual offer" to acquire the company. Shares of General Electric (GE) reported a loss of $1.35 per share due to large charges related to its planned exit from the majority of its GE Capital business. Adjusting for special items, GE's operating earnings per share of 31c topped the consensus forecast by 1c. Additionally, GE said it has received "strong inbound interest" in its GE Capital assets following the company's April 10 investor update. MAJOR MOVERS: Among the notable gainers following their earnings reports were Celanese (CE), which rose $9.04, or 15.55%, to $67.18, and Mattel (MAT), which advanced $1.48, or 5.84%, to $26.75. Among the noteworthy losers after their quarterly reports were SerivceNow (NOW), which fell $9.55, or 11.53%, to $73.29, and Advanced Micro Devices (AMD), which dropped 29c, or 10.28%, to $2.58. INDEXES: The Dow declined 279.47, or 1.54%, to 17,826.30, the Nasdaq fell 75.98, or 1.52%, to 4,931.81, and the S&P 500 dropped 23.81, or 1.13%, to 2,081.18.
15:37 EDTTEVA, MYLMylan options active after reports Teva weighing potential bid
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15:05 EDTMYL, TEVATeva weighing potential bid for Mylan, WSJ reports
Teva Pharmaceutical (TEVA) is weighing a takeover bid for Mylan (MYL), according to the Wall Street Journal, citing people familiar with the matter. This comes one week after Mylan made a $28.9B acquisition offer for Perrigo (PRGO), the Journal added. Reference Link
14:54 EDTMYLPerrigo trims losses after Mylan says committed to acquisition proposal
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14:51 EDTTEVA, MYLMylan says fully committed to Perrigo bid after speculation on Teva interest
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14:48 EDTTEVA, MYLMylan says tie-up with Teva 'without sound industrial logic or cultural fit'
14:47 EDTMYLMylan says fully committed to stand-alone strategy, proposal to buy Perrigo
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14:32 EDTMYLMylan spikes higher, levels to watch
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14:31 EDTTEVA, MYLMylan jumps after reports of potential bid from Teva
Shares of Mylan (MYL) jumped in afternoon trading after The Wall Street Journal and Bloomberg separately reported that Teva (TEVA) is exploring a takeover offer for the company. Both reports, which each cited sources, said Teva is evaluating a bid internally, but that the company has not made any formal offer as of yet. WHAT'S NOTABLE: In a note to investors this morning, analysts at Cowen said the approval of a generic version of Teva's 20mg Copaxone should spur management to make a value-creating decision to acquire Mylan. The firm also believes in Teva's skill in protecting its Copaxone asset and said now is the time to pursue aggressive strategic actions. Cowen reiterated its Outperform rating and $100 price target on Teva shares. ANOTHER TO WATCH: On April 8, Mylan announced that it delivered to Perrigo's Chairman on April 6 a non-binding proposal to buy the company for $205 per share in a combination of cash and Mylan stock. RBC Capital analyst Randall Stanicky said earlier this week he believed Perrigo may be engaging other companies in talks after Mylan made its offer public. Stanicky sees no clear competing bidder for Perrigo, however, and used a $230 per share takeover while analyzing possible deals. PRICE ACTION: In afternoon trading, Mylan shares rose 5.6% to $70.58, Teva added 3.7% to $65.53 and Perrigo fell 2.5% to $193.99.
14:23 EDTMYL, TEVAMylan jumps after Dow Jones says Teva considering bid
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14:21 EDTTEVA, MYLTeva weighing potential bid for Mylan, Dow Jones says
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12:56 EDTTEVA, MYLFederal Circuit upholds Mylan's patents on Perforomist inhalation solution
Mylan (MYL) announced the United States Court of Appeals for the Federal Circuit upheld the validity and infringement of all four patents asserted by Mylan Specialty, L.P. protecting its Perforomist Inhalation Solution. The Court summarily affirmed the previous decision by the district court against Teva (TEVA). Today's decision prevents Teva from receiving final approval of its ANDA from the FDA prior to expiration of U.S. Patent Nos. 6,667,344; 6,814,953; 7,348,362; and 7,462,645. Those patents cover Perforomist until they expire in June 2021.
08:12 EDTTEVATeva pullback a buying opportunity, says Leerink
Leerink views yesterday's pullback in shares of Teva after generic Copaxone was approved as a buying opportunity. The firm notes Teva remains confident in its $5 earnings per share floor. Leerink views the company's outlook as "bright" and keeps an Outperform rating on the name.
08:00 EDTTEVA, MYLTeva patent loss should move management to acquire Mylan, says Cowen
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06:52 EDTAZNAstraZeneca granted FDA orphan drug designation for selumetinib
AstraZeneca announced that the FDA has granted orphan drug designation for the MEK inhibitor selumetinib, for the treatment of uveal melanoma, a rare disease in which cancer cells form in the tissues of the eye.
06:50 EDTAZNAstra reports median progression free survival of 13.5 months in AURA study
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05:53 EDTMYLStocks with implied volatility movement; XLNX MYL
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April 16, 2015
16:02 EDTTEVAOptions Update; April 16, 2015
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15:40 EDTMYL, TEVAGeneric Copaxone approval a bit early but expected, says BMO Capital
BMO Capital believes FDA approval for Sandoz (NVS) and Momenta's (MNTA) generic 20mg Copaxone came slightly earlier than the market expected, but the firm added that the generic threat has been well expected. The firm added that it appears Mylanís (MYL) generic Copaxone hasn't been approved yet, leaving a "legitimate question" about why the FDA approved one generic and not the other. BMO thinks Teva's rate of conversion to the 40mg dose will help retain patients on the Copaxone franchise and it keeps an Outperform rating on Teva shares.
13:42 EDTTEVATeva shares defended at Evercore ISI
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12:37 EDTTEVAMomenta confirms Glatopa approval, to receive $10M payment
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12:35 EDTTEVASandoz receives FDA approval for Glatopa as generic competitor to Copaxone
Sandoz, a Novartis (NVS) company, announced the U.S. approval of Glatopa, the first generic version of Teva's (TEVA) Copaxone 20 mg/ml one-time-daily multiple sclerosis therapy. Glatopa, developed in collaboration with Momenta (MNTA) and produced entirely in the U.S., is indicated for the treatment of patients with relapsing forms of MS, including those who have experienced a first clinical episode and have magnetic resonance imaging features consistent with MS.
12:35 EDTTEVAFDA denies Teva attempt to block generic Copaxone
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09:12 EDTAZNAstraZeneca granted orphan status for melanoma treatment
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07:58 EDTAZNAstraZeneca's MedImmune, Immunocore announce new collaboration agreement
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06:16 EDTTEVAFormer Teva CEO appointed to position of CEO at Ovid Therapeutics
Ovid Therapeutics, a privately held biopharmaceutical company focused on developing therapies for rare and orphan diseases of the brain, appointed Dr. Jeremy Levin as CEO. Levin has served as Chairman of Ovid since 2014 and will continue to serve in this role. Most recently, Levin served as CEO of Teva.
April 15, 2015
19:34 EDTTEVAVIVUS files patent infringement lawsuit against Teva
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11:50 EDTAZNAstraZeneca initiated with a Buy at Societe Generale
09:02 EDTMYLRBC sees Akorn as possible play on Perrigo takeover interest
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07:41 EDTAZNEBD Group to hold a forum
ChinaBio Partnering Forum 2015 is being held in Shanghai, China on April 15-16.
April 14, 2015
12:06 EDTAZNFDA panel accepts Onglyza's safety profile in 13-1 vote
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08:03 EDTTEVATeva, Eagle announce NDA for bendamustine HCI accepted for filing
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07:15 EDTAZNFDA Endocrinologic & Metabolic Drugs Advisory Committee holds a meeting
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April 13, 2015
15:12 EDTMYLMylan enters settlement, license agreement with Pfizer regarding Viagra
Mylan (MYL) announced that its subsidiaries Mylan Inc. and Mylan Pharmaceuticals have entered into a settlement and license agreement with Pfizer (PFE), Pfizer Limited and Pfizer Ireland Pharmaceuticals to settle patent litigation relating to Mylan's Abbreviated New Drug Application filed with the U.S. FDA for Sildenafil Citrate Tablets 25 mg, 50 mg, and 100 mg. This product is the generic version of Viagra, which is indicated to treat erectile dysfunction. Under the terms of the agreement, Mylan will be able to launch its ANDA products pursuant to a royalty-bearing license as early as December 11, 2017, or sooner under certain conditions, subject to FDA approval. All other terms and conditions of the settlement and license agreement are confidential, and the agreement itself is subject to review by the U.S. Department of Justice and the Federal Trade Commission. For the 12 months ending Dec. 31, 2014, Viagra had U.S. sales of approximately $1.3B, according to IMS Health.
08:58 EDTAZNMerck may have positive read through from briefing docs, says SunTrust
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08:54 EDTAZNAstraZeneca has negative read through from briefing docs, says SunTrust
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07:56 EDTTEVA, MYLMylan, Teva, Perrigo price targets raised at JPMorgan
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06:49 EDTMYLMylan notifies Perrigo of HSR filing regarding proposed acquisition
Mylan N.V. (MYL) announced that it has provided Perrigo (PRGO) with notice of its filing of the premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with the U.S. Federal Trade Commission and the U.S. Department of Justice Antitrust Division regarding its proposed acquisition of Perrigo, as required by the HSR Act. Mylan proposed to acquire Perrigo for $205 per share in a cash-and-stock transaction on April 6.
April 10, 2015
16:19 EDTMYLStocks finish week higher as investors speculate jobs data could delay rate hike
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11:30 EDTMYLStocks with call strike movement; MSFT MYL
Microsoft (MSFT) October 48 call option implied volatility increased 9% to 38, Mylan (MYL) July 85 call option implied volatility decreased 11% to 31 according to IVolatility.
10:36 EDTAZNAstraZeneca trades lower, levels to watch
Shares are down less than 1% to $69.54 at time of writing. At that price the stock is just above the 50-day moving average at $69.12. Since May of last year, price has oscillated around the 50-day, with the average acting as the approximate center line. Support below the 50-day is at $68.24.
09:25 EDTAZNFDA staff say analysis suggests Onglyza may increase risk of death
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08:29 EDTMYLMylan price target raised to $80 from $66 at Argus
Argus hiked its price target on Mylan (MYL) after the company announced a non-binding proposal to acquire Perrigo Co. (PRGO) for $205 per share. The firm remains upbeat on the outlook for generic drugs in general, and says that generic over-the-counter pharmaceuticals, an area of focus for Perrigo, are rapidly taking share from brand-name OTC products. The firm keeps a Buy rating on Mylan
April 9, 2015
16:00 EDTMYLOptions Update; April 9, 2015
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11:11 EDTMYLOptions with increasing implied volatility
Options with increasing implied volatility: TLM WETF GRPN TRIP GMCR MYL AOL WB WFM EA
10:13 EDTMYLHigh option volume stocks
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09:51 EDTTEVA, MYLPerrigo did not expect Mylan takeover letter, CNBC's Faber reports
Perrigo (PRGO) did not expect the takeover letter it received from Mylan (MYL), CNBC's David Faber reports, citing sources. Perrigo will take its time in deciding what its next steps are, Faber added. Shares of Mylan are up 3% in early trading, which is being attributed, at least in part, to speculation the company could be a takeover target itself. Analysts this morning mentioned Teva (TEVA) as a potential acquirer of Mylan. Chatter this morning has Pfizer (PFE) also potentially interested in the EpiPen maker
09:25 EDTAZNPiper Jaffray pharmaceuticals analysts hold an analyst/industry conference call
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09:06 EDTMYLBofA/Merrill pharmaceuticals analyst holds an analyst/industry conference call
Special Situations Analyst Paul Shea, along with Pharmaceuticals Analyst Sumant Kulkarni, discuss the Mylan/Perrigo deal on an Analyst/Industry conference call to be held on April 9 at 10 am.
08:30 EDTMYL, TEVAPotential bid for Mylan by Teva could provide profound synergies, says Cowen
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08:14 EDTMYLMylan price target raised to $80 from $65 at Cowen
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08:10 EDTMYL, TEVALeerink sees 70% chance of Mylan buying Perrigo with raised bid
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06:20 EDTTEVA, MYLTeva bid for Mylan possible, but challenging, says Citigroup
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06:15 EDTMYL, TEVACiti does not see much strategic sense in Mylan, Perrigo deal
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06:02 EDTMYLPerrigo downgraded to Market Perform from Outperform at William Blair
William Blair downgraded Perrigo (PRGO) to Market Perform after the stock rallied 18% yesterday on Mylan's (MYL) proposal to buy the company for $205 per share.
05:49 EDTTEVA, MYLStocks with implied volatility movement; MYL TEVA
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April 8, 2015
16:22 EDTTEVA, MYLOn The Fly: Closing Wrap
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16:01 EDTMYLActionable Options for Wednesday, April, 8
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15:27 EDTMYLMylan hasn't made compelling case for Perrigo adding value, says BMO Capital
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15:16 EDTMYLPerrigo not likely interested in a Mylan deal, says BMO Capital
14:23 EDTTEVA, MYLAdditional bidders for Perrigo could emerge after Mylan offer, says Stifel
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13:07 EDTMYL, TEVAMylan bid for Perrigo makes strategic sense, says JPMorgan
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13:03 EDTMYLPerrigo says board will meet to discuss Mylan proposal
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12:37 EDTTEVATeva downgraded to Hold from Buy at Standpoint Research
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12:17 EDTMYLOn The Fly: Midday Wrap
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11:51 EDTMYLPerrigo calls active on Mylan proposal to acquire for $205 per share
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11:45 EDTMYLMylan volatility up after proposes to acquire Perrigo for $205 per share
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11:40 EDTMYLPerrigo up $47.10 to $211.81, trading above Mylan's $205/share proposal
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11:35 EDTMYLGeneric drug maker Akorn up 4% to $49.80 after Myla offers to buy Perrigo
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11:34 EDTMYLGeneric drug maker Akorn up 4% to $49.80 after Myla offers to buy Perrigo
11:32 EDTMYLMylan proposes to acquire Perrigo for $205 per share
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11:31 EDTMYLPerrigo halted for volatility after jumping 7% to $176.42
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11:29 EDTMYLMylan proposes to acquire Perrigo for $205 per share
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07:16 EDTTEVA, MYLMylan one of the cheapest names in Specialty Pharma, says JPMorgan
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06:06 EDTAZNInovio selected by DARPA to lead $45M Ebola prevention program
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April 7, 2015
16:12 EDTAZNRegulus up 5% after RG-125 selected as clinical candidate by AstraZeneca
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16:12 EDTAZNRegulus RG-125 selected as clinical candidate by AstraZeneca
Regulus Therapeutics (RGLS) announced the selection of RG-12, a GalNAc-conjugated anti-miR targeting microRNA-103/107, or miR-103/107, for the treatment of Non Alcoholic Steatohepatitis, or NASH, in patients with type 2 diabetes/pre-diabetes, as a clinical candidate by AstraZeneca (AZN) under the companies' strategic alliance to discover, develop and commercialize microRNA therapeutics. RG-125 is the first compound from the alliance to be selected for clinical development by AstraZeneca. In connection with the candidate selection, AstraZeneca will pay Regulus $2.5M and will assume development of the program following acceptance of an Investigational New Drug application. In the near term, Regulus and AstraZeneca plan to submit key preclinical data on the RG-125 program to be presented at a scientific meeting later this year and expect to initiate a Phase I study of RG-125 in humans by the end of 2015.
15:24 EDTTEVATeva price target raised to $75 from $64 at BMO Capital
BMO Capital raised its EPS estimates for Teva (TEVA) and increased its price target on the stock to $75 from $64 on account of the expected launch of a treatment for chorea associated with Huntingtonís disease in 3Q16 and a launch of a tardive dyskinesia drug in 3Q17 following the company's deal to buy Auspex (ASPX). The firm maintains its Outperform rating on Teva shares.
10:19 EDTMYLHigh option volume stocks
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07:32 EDTMYLMylan launches Norethindrone and Ethinyl Estradiol Tablets in U.S.
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07:14 EDTAZNEyeforpharma to hold a summit
Philadelphia 2015 Commercial Pharma Summit is being held in Philadelphia on April 7-8.
April 6, 2015
05:56 EDTTEVATeva battles possible generic Copaxone competitors, Globes reports
A citizen's petition has been filed by Teva with the FDA against possible generic competition to its MS treatment Copaxone beginning in September, Globes reports. The FDA has previously ruled that it was "too early" to discuss the matter. Reference Link
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