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News Breaks
May 15, 2014
07:05 EDTBAYRY, BSXBoston Scientific agrees to acquire Interventional division of Bayer for $415M
Boston Scientific (BSX) has entered into a definitive agreement to acquire the Interventional Division of Bayer AG (BAYRY) for $415M in cash, including fees for transitional services. The company expects to close the transaction in the second half of 2014, subject to customary closing conditions. The acquisition is expected to improve Boston Scientific's access to a number of attractive segments in the peripheral space, including the growing atherectomy and thrombectomy categories. In 2013, Bayer Interventional generated sales of approximately $120M. Upon completion of the transaction, Bayer Interventional will become part of the existing Boston Scientific Peripheral Interventions business. The agreement calls for an up-front payment of $415M. The company currently expects the transaction to be immaterial to adjusted earnings per share in 2014, accretive by approximately 1c in 2015 and increasingly accretive thereafter. On a GAAP earnings per share basis, the company expects the transaction to be slightly dilutive in 2014, immaterial in 2015, and less accretive than on an adjusted earnings per share basis thereafter as a result of acquisition-related net charges and amortization, which will be determined following the closing. Closing of the transaction is subject to customary conditions, including relevant antitrust clearance, and is expected to occur in the second half of 2014.
News For BSX;BAYRY From The Last 14 Days
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November 24, 2014
15:53 EDTBAYRYBayer working with Credit Suisse to explore diabetes unit sale, Bloomberg says
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15:38 EDTBAYRYBayer considering sale of diabetes unit for up to $2.5B, Bloomberg reports
10:14 EDTBAYRYFDA grants QIDP designation to Bayer's Amikacin Inhale, Ciprofloxacin DPI
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07:57 EDTBAYRYPerrigo confirms first to file patent challenge for generic version of Aveed
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November 20, 2014
08:36 EDTBAYRYZoetis guidance positive, says BMO Capital
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07:31 EDTBSXBoston Scientific should be bought on weakness, says RBC Capital
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November 19, 2014
12:11 EDTBSXBoston Scientific says Synergy stent met primary endpoint in trial
In the first successful U.S. pivotal trial of a bioabsorbable polymer stent, the Boston Scientific SYNERGY Everolimus-Eluting Bioabsorbable Polymer Platinum Chromium Coronary Stent System met its primary endpoint in this non-inferiority study, which evaluated the one-year rate of target lesion failure. Additionally, favorable rates for key secondary endpoints were observed with the SYNERGY Stent. Dean Kereiakes, M.D., F.A.C.C., F.S.C.A.I., the principal investigator for the EVOLVE II Trial, presented the study results today in a Late Breaking Clinical Trial session at the American Heart Association Scientific Session 2014 in Chicago. Key findings for the SYNERGY Stent from the EVOLVE II Trial include the following: At 12 months, the TLF rate was 6.4% per protocol and 6.7% for intent-to-treat. Stent Thrombosis was rare, with Definite or Probable ST occurring in only 0.4% of patients through one year. No Definite ST occurred after 24 hours.
06:30 EDTBSXJohnson & Johnson, Boston Scientific trial set to start tomorrow, Reuters says
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November 18, 2014
11:35 EDTBSXBoston Scientific November volatility elevated into investor day
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07:37 EDTBSXStifel to hold a conference
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06:08 EDTBSXBoston Scientific to host investor meeting
Investor meeting to be held on November 19 at 2 pm. Webcast Link
05:43 EDTBAYRYRegeneron announces EYLEA injection approved for DME treatment in Japan
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November 17, 2014
09:08 EDTBSXBoston Scientific announces first U.S. procedures with Symphion completed
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November 14, 2014
12:53 EDTBSXOmega Advisors gives quarterly update on stakes
NEW STAKES: AerCap Holdings (AER), Nordic American Offshore (NAO), Melco Crown Entertainment (MPEL), Groupon (GRPN), and Ashland (ASH). INCREASED STAKES: QEP Resources (QEP), United Continental (UAL), Cabot Oil & Gas (COG), Actavis (ACT), and KAR Auction Services (KAR). DECREASED STAKES: Sprint (S), SandRidge Energy (SD), Sirius XM Holdings (SIRI), Kinder Morgan (KMI), and Transocean (RIG). LIQUIDATED STAKES: QUALCOMM (QCOM), Ocwen Financial (OCN), Freeport-McMoRan (FCX), Boston Scientific (BSX), and Capital One (COF).
07:14 EDTBAYRYAmerican College of Rheumatology is holding a meeting
2014 ACR/ARHP Annual Meeting is being held in Boston on November 14-19.
November 13, 2014
17:10 EDTBSXBoston Scientific S-ICD System receives favorable coding, payment designations
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09:33 EDTBAYRYZoetis could get bought by Bayer for $53/share, says Jefferies
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November 12, 2014
08:18 EDTBAYRYUBS to hold a conference
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07:27 EDTBSXNorth American Spine Society to hold annual meeting
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06:22 EDTBAYRYZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
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