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Stock Market & Financial Investment News

News Breaks
June 12, 2014
07:44 EDTPGNX, AZN, SLXP, NKTRFDA Anesthetic & Analgesic Drug Products Advisory Committee holds a meeting
The Committee reviews opioid antagonists being developed for opioid induced constipation including Progenics' and Salix Pharmaceuticals' Subcutaneous RELISTOR and Nektar Therapeutics and AstraZeneca's Naloxegol in a meeting being held at FDA Silver Spring, Maryland offices on June 12 at 8 am. Webcast Link
News For AZN;NKTR;SLXP;PGNX From The Last 14 Days
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March 16, 2015
09:22 EDTSLXPOn The Fly: Pre-market Movers
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08:17 EDTSLXPValeant rises 1% after sweetening Salix takeover offer
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08:08 EDTPGNXProgenics reports Q4 EPS (18c), consensus (7c)
Reports Q4 revenue ($571,000) vs. $2.97M last year.
08:06 EDTSLXPValeant ses Salix deal closing on April 1
08:05 EDTSLXPValeant raises offer price for Salix to $173 per share from $158
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08:04 EDTSLXPValeant, Salix agree on amended terms to merger agreement
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07:50 EDTSLXPSalix trading halted, pending news
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07:50 EDTSLXPValeant to raise offer for Salix to $173 per share, DJ reports
Dow Jones cites sources.
07:30 EDTAZNAmerican College of Cardiology to hold an expo
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March 13, 2015
15:50 EDTSLXPValeant announces HSR clearance for acquisition of Salix
Valeant Pharmaceuticals (VRX) announced that it has received early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to its proposed acquisition of Salix Pharmaceuticals (SLXP). The expiration of the waiting period satisfies one of the conditions to consummate the tender offer and Valeant expects to be in the position to close the transaction on April 1.
13:46 EDTSLXPValeant to raise Salix bid above $160 per share after Endo entry, NYT says
In response to Endo (ENDP) making a rival bid for Salix (SLXP), Valeant Pharmaceuticals (VRX) now plans to team up with Bill Ackman's Pershing Square and other top shareholders to raises its bid for Salix to above $160 per share, all in cash, according to The New York Times, citing people briefed on the matter. The exact price of Valeantís raised offer was not yet known, the report stated. Salix shares are down about 1% to $168.88 in afternoon trading. Reference Link
13:43 EDTSLXPValeant seen hiking Salix bid above $160 per share cash, NYT says
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13:04 EDTNKTRFly Watch: Nektar breast cancer data expected soon
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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.
10:51 EDTSLXPOptions with increasing implied volatility
Options with increasing implied volatility: PVA BBEP SLXP ENDP MYL BBBY TEVA ZTS
08:14 EDTSLXPAckman says does not view Endo bid for Salix as credible
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08:13 EDTSLXPAckman says Endo would be very highly levered with Salix deal
Bill Ackman of Pershing Square is speaking on CNBC.
08:11 EDTSLXPAckman says Valeant CEO will not overpay for Salix
Bill Ackman of Pershing Square is speaking on CNBC.
08:07 EDTAZNAstraZeneca rumored to have BioMarin 'on shopping list,' Daily Mail says
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05:47 EDTSLXPStocks with implied volatility movement; SLXP MNKD
Stocks with implied volatility movement; Salix (SLXP) 20, Teva (TEVA) 27 according to iVolatility.
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