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Stock Market & Financial Investment News

News Breaks
March 7, 2014
06:51 EDTCBRX, ACTColumbia Laboratories repurchases 1.4M shares of common stock from Actavis
Columbia Laboratories (CBRX) announced that the company has repurchased 1.4 million shares of its common stock, par value 1c per share, from Coventry Acquisition, a subsidiary of Actavis (ACT) at $6.08 per share, which represents a 10.75% discount to the closing price on March 6. The total purchase price was approximately $8.5M. This transaction reduces the total issued and outstanding shares of common stock by about 11.5% from approximately 12.15M to 10.75M.
News For CBRX;ACT From The Last 14 Days
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March 30, 2015
09:02 EDTACTMylan slips amid Abbott share sale, Teva deal for Auspex
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08:04 EDTCBRXColumbia Laboratories licenses rights for intra-vaginal ring technology
Columbia Laboratories has licensed exclusive worldwide rights to a novel intra-vaginal ring technology for the delivery of one or more pharmaceuticals at different dosages and release rates in a single segmented ring. This technology was developed by scientists Dr. Robert Langer from the Massachusetts Institute of Technology and Dr. William Crowley from Massachusetts General Hospital and Harvard Medical School. Under separate agreements, Drs. Langer and Crowley have joined the company as strategic advisors to support the deployment of this technology and guide development of future product candidates. The company has identified a number of product concepts that could address large market segments and will be prioritizing development of the first candidates in the coming months. Columbia has agreed to minimum annual expenditures to develop products using the vaginal ring technology, and will make milestone-based payments to MGH/MIT when various stages of product development and commercialization are achieved. The company will also share a portion of any royalties or sublicense revenues received from products utilizing the segmented IVR technology with MGH and MIT.
March 27, 2015
07:25 EDTACTTeva appears to be weighing transformative deal, says Bernstein
After attending Teva's (TEVA) meeting with investors, Bernstein thinks that the company is considering making a 'transformative' acquisition, although it believes that such a deal may not be imminent. The firm sees Mylan ((MYL) and the generic units of Actavis (ACT), Pfizer (PFE), and possibly Valeant (VRX) as the four logical candidates. It says that Teva can pay $81 per share for Mylan, and that a takeover of Mylan would raise Teva's EPS to about $6.50 in 2017 and $7 in 2018. Bernstein raised its price target on Teva to $69 from $60 and keeps an Outperform rating on the shares.
March 26, 2015
07:30 EDTACTDeutsche Bank to hold a conference
Pharma One-on-One Day is being held in Denver, Colorado on March 26.
March 23, 2015
16:14 EDTACTPershing Square liquidates stake in Allergan
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07:36 EDTACTPfizer should rise 'significantly' over next two years, says Jefferies
Jefferies analyst Jeffrey Holford told investors this morning that he expects shares of Pfizer (PFE) to appreciate "significantly" over the next two years. A survey of U.S. oncologists indicated the company's Ibrance drug will be used in 50% of first line hormonal therapy within one year, with off-label use in all lines of therapy including adjuvant, Holford noted. He thinks peak sales of the drug could top $13B, which is well above consensus. In addition, the analyst views Pfizer's Global Established Pharmaceutical business as being underappreciated by the market. Potential value creating options for the pharmaceutical giant include spinning off its GEP unit by 2017 and accretive acquisitions, with possible takeover targets being Shire (SHPG), Actavis (ACT), AstraZeneca (AZN) and GlaxoSmithKline (GSK), in the eyes of Holford. He added the stock to the firm's Franchise Picks list, which encompasses its best ideas. He also raised his price target for Pfizer to $45 from $42. The stock closed Friday up 10c to $34.25.
07:17 EDTACTAmerican Academy of Dermatology to hold annual meeting
73rd Annual Meeting of AAD is being held in San Francisco on March 20-24.
March 20, 2015
14:46 EDTACTNoven files patent infringement lawsuit against Actavis
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07:41 EDTACTAmerican Academy of Dermatology to hold annual meeting
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March 18, 2015
08:50 EDTACTActavis price target raised to $373 from $286 at BMO Capital
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07:03 EDTCBRXColumbia Laboratories 'actively moving forward' focused on 505b2 products
Columbia is actively moving forward as a women's health specialty pharmaceutical company focused on 505(b)2 products. The Company's next product will enter the clinic during the second quarter, and the company is active in identifying and advancing additional, promising drug candidates.
07:03 EDTCBRXColumbia Laboratories sees FY15 revenue growth in low double digits
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07:02 EDTCBRXColumbia Laboratories reports Q4 EPS (5c), consensus 7c
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March 17, 2015
09:19 EDTACTActavis reinstated with a Conviction Buy at Goldman
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09:13 EDTACTActavis says Allergan CEO not joining combined company board
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08:59 EDTACTActavis sees combined annual pro forma revenues of over $23B in 2015
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08:58 EDTACTActavis sees double digit accretion to adjusted EPS within first 12 months
08:58 EDTACTActavis says will 'immediately begin implementing' integration plans
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08:57 EDTACTActavis completes acquisition of Allergan
Actavis plc (ACT) announced that it has completed the acquisition of Allergan (AGN) in a cash and equity transaction valued at approximately $70.5B. The combination creates one of the world’s top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23B anticipated in 2015. Actavis continues to expect the transaction to generate double-digit accretion to non-GAAP earnings within the first 12 months, including approximately $1.8B in operating and financial synergies to be realized within one year following the close. These synergies exclude any additional revenue or manufacturing synergies, and are in addition to the $475M of annual savings previously announced by Allergan in connection with Project Endurance. Actavis further expects to generate strong operating cash flow in excess of $8B in 2016, which would enable the company to rapidly de-lever the balance sheet.
08:56 EDTACTActavis completes Allergan acquisition valued at $70.5B
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