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News Breaks
May 19, 2014
10:05 EDTFMS, BAXBaxter denied Supreme Court appeal of Fresenius Medical ruling
The Supreme Court declined to hear an appeal filed by Baxter (BAX) over a patent dispute with Fresenius Medical (FMS). The high court decision means the Court of Appeals for the Federal Circuit's decision to overturn a lower court judgment of almost $24M in favor of Baxter remains intact. Reference Link
News For BAX;FMS From The Last 14 Days
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July 30, 2014
08:08 EDTBAXBaxter announces divestiture of commercial vaccines business to Pfizer for $635M
Baxter International (BAX) announced that it has entered into a definitive agreement to sell its two commercially marketed vaccines and related production facilities to Pfizer (PFE) for a total cash consideration of $635M, subject to certain adjustments. The sale includes the company’s commercial vaccines business, which is comprised of NeisVac-C, a vaccine which helps protect against meningitis caused by group C meningococcal meningitis, and FSME-IMMUN, which helps protect against tick-borne encephalitis, an infection of the brain transmitted by the bite of ticks infected with the TBE-virus. Both vaccines are currently available outside the United States, primarily in a number of European markets. Baxter continues to explore strategic options, including the potential for partnering or divesting its R&D development programs focused on influenza and Lyme disease. Subject to regulatory approvals and other customary closing conditions, the companies expect to close the transaction by the end of 2014. Baxter expects 2014 vaccines revenues to total approximately $300M and adjusted earnings of approximately 25c per diluted share, including approximately $50M of one-time milestone payments related to the ongoing government collaborations for development of influenza vaccines. Baxter expects the transaction to be modestly dilutive to fourth quarter 2014 adjusted earnings and dilutive to 2015 adjusted earnings by approximately 15c per diluted share.
08:01 EDTBAXPfizer enters into agreement to acquire Baxter's portfolio of marketed vaccines
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July 27, 2014
15:12 EDTFMS Hospira in talks to acquire Danone medical nutrition business, FT says
French consumer company Danone (DANOY) has been in negotiations to sell its medical nutrition business to Hospira (HSP) in a deal said to value the unit at $5B, says the Financial Times. The deal would also allow for U.S. based Hospira to domicile its tax base in Europe in a tax strategy known as an inversion, added the Financial Times. In prior reports, Nestle (NSRGY) and Fresenius (FMS) have also been mentioned as suitors for the Danone unit. Reference Link
July 17, 2014
09:15 EDTBAXBaxter says 'feels good' about guidance
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08:56 EDTBAXBaxter: Guidance contemplates possible headwinds related to cyclo competition
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07:05 EDTBAXBaxter sees Q3 EPS before special items $1.28-$1.32, consensus $1.32
The company said, "For Q3, the company expects sales growth of approximately 12%-13%, excluding the impact of foreign currency. TheQ3 earnings guidance excludes approximately 7c per diluted share of projected intangible asset amortization expense."
07:04 EDTBAXBaxter narrows FY14 adjusted EPS view to $5.10-$5.20, consensus $5.15
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07:02 EDTBAXBaxter reports Q2 adjusted EPS $1.26, consensus $1.22
Reports Q2 revenue $4.26B, consensus $4.12B.
07:01 EDTBAXBaxter confirms FY14 outlook
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07:00 EDTFMSFresenius Medical shares should be bought, says Bernstein
Bernstein notes that Fresenius' (FMS) stock has sharply underperformed versus its competitor, DaVita (DVA), since May 2012. But the firm predicts that Fresenius' core U.S. business should outperform that of DaVita going forward. Bernstein adds that it finds Fresenius' business units aside from its U.S. dialysis clinics more attractive than DaVita's businesses other than its U.S. dialysis clinics.
July 16, 2014
15:27 EDTBAXNotable companies reporting before tomorrow's open
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