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Stock Market & Financial Investment News

News Breaks
March 27, 2013
06:25 EDTTEVA, HSP, NVS, BDXInjectable drug shortages may ease with rising interest, WSJ reports
The shortage of injectable drugs used by hospitals could ease as more healthcare companies look to become new manufacturers, Wall Street Journal reports. Becton Dickinson (BDX) became the latest player in the $7B market with yesterday's approval for an antihistamine, the paper adds. Reference Link
News For BDX;HSP;TEVA;NVS From The Last 14 Days
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December 11, 2014
07:07 EDTTEVATeva sees spending $1B-$1.2B on share buybacks in 2015
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07:02 EDTTEVATeva sees FY15 EPS $5.00-$5.30, consensus $5.06
Sees FY15 revenue $19B-$19.4B, consensus $20.07B.
December 10, 2014
08:31 EDTTEVATeva announces launch of first generic Celebrex capsules in the U.S.
Teva Pharmaceutical Industries (TEVA) announces the launch of the first FDA-approved generic equivalent to Celebrex Capsules in the United States. Teva is offering 50, 100, 200, and 400 mg strengths of Celecoxib Capsules. Celebrex Capsules, marketed by Pfizer (PFE) had annual sales of approximately $2.56B in the United States, according to IMS data as of October 2014.
December 9, 2014
13:08 EDTHSPMerck may have paid $2B-$3B too much for Cubist, analyst says
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08:23 EDTHSPMerck has 'no way out' of Cubist deal after court decision, says Leerink
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08:12 EDTHSPMerck still sees Cubist acquisition neutral to modestly accretive to 2015 EPS
Merck (MRK) issued the following statement regarding the decision of the U.S. District Court for the District of Delaware. The decision, which upheld the patent for CUBICIN that expires on June 15, 2016 and invalidated four others, is subject to appeal. The company continues to believe the acquisition of Cubist (CBST) will create strong fundamental value for Merckís shareholders. The combined strength of both companies will provide both incremental and long-term value, and Merck expects the transaction to add more than $1B of revenue to its 2015 base, with strong growth potential thereafter. The courtís decision does not change Merckís expectation that the transaction will be neutral to modestly accretive to 2015 non-GAAP EPS. The company also continues to expect that the transaction will contribute mid-single digit accretion on a percentage basis to non-GAAP EPS in 2016, and will continue to be accretive thereafter.
07:44 EDTTEVAAmerican Association for Cancer Research to hold a symposium
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December 8, 2014
19:00 EDTHSPCubist CEO says Cubicin patent ruling will not affect Merck transaction
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18:24 EDTHSPOn The Fly: After Hours Movers
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18:00 EDTHSPCubist loses bid to stop Hospira's generic Cubicin after 2016, Bloomberg says
Cubist's (CBST) patent for Cubicin that expires in June 2016 upheld by judge, Bloomberg added. Note that this morning Merck (MRK) and Cubist Pharmaceuticals announced that the companies have entered into a definitive agreement under which Merck will acquire Cubist for $102 per share in cash.
17:54 EDTHSPFour Cubist Cubicin patents invalidated as Hospira wins ruling, Bloomberg says
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17:30 EDTHSPMerck shares lower after reports of judge decision in Cubist/Hospira case
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17:03 EDTHSPJudge may have found in favor of Hospira in Cubist case,CNBC's Meg Tirrell says
CNBC's Meg Tirrell said in a tweet: "Whoa. $CBST Hospira decision out -- "appears judge may have found in favor of Hospira on several points," ISI's @MarkSchoenebaum says." Reference Link
13:07 EDTNVSNovartis announces data from Jakavi trial
Novartis (NVS) announced data from the largest clinical trial of myelofibrosis patients treated with Jakavi, supporting the safety profile and efficacy benefit as measured in primary and secondary endpoints respectively. In an analysis of 1,144 patients treated with Jakavi to date in this ongoing expanded access study, 69% of patients achieved >50% reduction in spleen size from baseline and patients also experienced a clinically meaningful improvement in myelofibrosis symptom score, important treatment goals for patients with myelofibrosis. Findings from the study were presented at the 56th Annual Meeting of the American Society of Hematology in San Francisco, California. Novartis research and development efforts, in collaboration with Incyte Corporation (INCY), include early-phase and post-marketing studies in myelofibrosis and other myeloproliferative neoplasms. More than 50 abstracts on ruxolitinib are being presented at ASH, including three oral presentations exploring combinations of ruxolitinib with various investigational compounds, evaluating the possibility of simultaneously targeting multiple cancer pathways that may be involved in the pathogenesis of myelofibrosis. The JUMP study is a Phase IIIb, expanded-access trial for countries with no access to Jakavi outside of a clinical trial. The open-label, multicenter study analyzed 1,144 enrolled myelofibrosis patients who received daily starting doses of either 5 mg, 15 mg or 20 mg of Jakavi twice daily based on platelet counts at baseline. The primary endpoint is assessment of safety and tolerability of Jakavi. Overall, the safety and efficacy profile of Jakavi was consistent with previous studies.
13:05 EDTNVSNovartis reports six-year results from Phase III ENESTnd study
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11:30 EDTTEVA, NVSLeerink generics pharmaceutical analyst holds analyst/industry conference call
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08:31 EDTBDXBecton Dickinson and CareFusion sets date for special meeting in proposed merger
Becton, Dickinson (BDX) and CareFusion (CFN) announced that CareFusion expects to hold a special meeting on January 21, 2015 for CareFusion stockholders to consider and vote upon the proposed merger of CareFusion and BD. As previously announced on October 5, 2014, BD and CareFusion entered into a definitive agreement pursuant to which BD would acquire CareFusion in a stock and cash transaction. CareFusion stockholder approval is a condition to the merger. In addition to CareFusion stockholder approval, the proposed acquisition remains subject to certain other conditions and approvals, including approval of the proposed acquisition by the European Commission under the European Union Merger Regulation. CareFusion has fixed the close of business on December 18, 2014 as the record date for the purpose of determining the stockholders who are entitled to notice of, and to vote at, the special meeting.
08:21 EDTTEVA, HSPMerck says looked at all risks, including patent litgation, before Cubist deal
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06:47 EDTTEVAArena says Teva files marketing authorization of Belviq in Israel
Arena Pharmaceuticals (ARNA) disclosed late Friday that Teva Pharmaceutical's (TEVA) local Israeli subsidiary, Abic Marketing Limited, has filed for marketing authorization of Belviq in Israel. In connection with the filing, Arena will receive a milestone payment of $250K.
05:42 EDTNVSSandoz Phase III data shows filgrastim has similar safety, efficacy as NEUPOGEN
Sandoz, a Novartis (NVS) company, announced Phase III data that demonstrated similarity of its investigational biosimilar filgrastim compared to the US-licensed reference product, Amgen's (AMGN) NEUPOGEN in the prevention of severe neutropenia in patients with breast cancer receiving neoadjuvant myelosuppressive chemotherapy. The study also showed that repeated switching at each cycle between the investigational biosimilar and the originator filgrastim showed no impact on efficacy, safety or immunogenicity. The PIONEER study was a Phase III study designed to compare the efficacy and safety of the investigational biosimilar and the reference product with respect to mean duration of severe neutropenia following Cycle 1 chemotherapy. PIONEER was a randomized, double-blind, four-group, multi-center non-inferiority trial conducted at 27 centers. The trial randomized 218 breast cancer patients receiving neoadjuvant myelosuppressive chemotherapy.
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