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Stock Market & Financial Investment News

News Breaks
April 28, 2014
05:42 EDTAZN, PFEAstraZeneca says Pfizer offer 'significantly undervalued' prospects
The board of AstraZeneca (AZN) notes the announcement by Pfizer (PFE) earlier today. The company said, "On 26 April 2014, Ian Read, Chairman and CEO of Pfizer, contacted Leif Johansson, the Chairman of AstraZeneca for the first time since January 2014. In this discussion, the Chairman of Pfizer did not make a specific proposal regarding an offer to acquire AstraZeneca, but nevertheless Pfizer requested that both companies issue a joint statement, prior to the market open on 28 April 2014, announcing that they had entered into discussions regarding a combination. The Board of AstraZeneca considered this request and concluded that, absent a specific and attractive proposal, it was not appropriate to engage in discussions with Pfizer." On November 25, 2013, AstraZeneca said it received an initial contact from Ian Read on behalf of Pfizer, in which he proposed that the two companies discuss a combination. AstraZeneca said its Chairman "expressed confidence in AstraZeneca's prospects as an independent business." However, the company said it agreed to an exploratory meeting and subsequently met with Pfizer on January 5 in New York. At the meeting, Pfizer made a "preliminary and conditional proposal" regarding a possible offer for AstraZeneca. The proposal comprised GBP13.98 in cash and 1.758 Pfizer shares per AstraZeneca share, representing a value of GBP46.61 per AstraZeneca share, based on the closing price of Pfizer shares of $30.52 on January 3. The board of AstraZeneca concluded that the "Proposal very significantly undervalued AstraZeneca and its prospects." AstraZeneca said its board remains committed to executing the strategy announced in March 2013.
News For AZN;PFE From The Last 14 Days
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November 19, 2014
06:36 EDTAZNClovis rociletinib data 'good news/bad news,' says Mizuho
Mizuho analyst Peter Lawson says his initial read of the new rociletinib data is "good news/bad news," which leaves his price target for Clovis unchanged. Lawson pegs the bad news as the drug losing its progression-free survival lead since the estimated PFS dropped from 12 months to 10.4 months, essentially in-line with AstraZeneca's (AZN) competing drug AZD9291. Lawson sees the good news as the "encouraging" PFS of 7.5 months in T790M-negative patients. He keeps a Buy rating on Clovis with a $100 price target.
November 18, 2014
14:59 EDTAZNRanbaxy sues FDA for rescinding approval of Nexium, Valcyte copies, Reuters says
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08:33 EDTPFEPfizer announces availability of Trumenba vaccine
Pfizer announced hat TRUMENBA, the first and only FDA-approved vaccine for active immunization to prevent invasive disease caused by Neisseria meningitidis serogroup B in individuals 10 through 25 years of age, is now available for order by healthcare providers in the United States.
07:29 EDTPFE, AZNPfizer less likely to pursue AstraZeneca after PD-L1 deal, says JPMorgan
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07:18 EDTAZN, PFEWoodford confident in Astra, sees 50% chance of new Pfizer bid, Reuters reports
Investment manager Neil Woodford of Woodford Investment Management said he now has an even stronger belief in AstraZeneca (AZN), citing the company's strong product pipeline, and put the chances of a new takeover bid from Pfizer (PFE) at 50/50, reported Reuters, citing a statement from Woodford. Reference Link
06:39 EDTAZN, PFEAstraZeneca: 'Hard to comment' on whether Pfizer will come back, Reuters reports
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November 17, 2014
14:27 EDTPFEPfizer volatility flat into investor meeting
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09:42 EDTPFEPfizer to host investor day
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09:37 EDTAZNAstraZeneca to host investor day
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09:22 EDTPFEOn The Fly: Pre-market Movers
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08:13 EDTPFEPortola, Bristol-Myers, Pfizer announce results from Phase 3 ANNEXA-A studies
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07:16 EDTPFE, AZNMilken Institute--Faster Cures to hold a conference
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07:08 EDTAZNMedImmune presents positive Phase IIb data for mavrilimumab in RA
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07:07 EDTAZNMedImmune presents new data in systemic lupus
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06:43 EDTAZN, PFEAstraZeneca, Pfizer deal seen less likely after Merck transaction, Reuters says
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05:27 EDTPFEPfizer lowers FY14 Reported EPS view to $1.40-$1.49 from $1.50-$1.59
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05:23 EDTPFEPfizer forms strategic alliance with Merck KGaA
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November 16, 2014
13:36 EDTAZNAstraZeneca presents data from studies of lesinurad combined with allopurinol
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November 14, 2014
14:53 EDTPFE, AZNCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
07:14 EDTPFE, AZNAmerican College of Rheumatology is holding a meeting
2014 ACR/ARHP Annual Meeting is being held in Boston on November 14-19.
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