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Stock Market & Financial Investment News

News Breaks
January 10, 2014
10:20 EDTCHTP, SHPGChelsea falls after FDA staff call droxidopa approval decision 'complex'
Shares of Chelsea Therapeutics (CHTP) are sharply lower in early trading after the FDA posted briefing documents related to a review of a resubmission for the company's droxidopa drug. The documents are related to a cardiovascular and renal drug advisory committee meeting scheduled for January 14. WHAT'S NEW: Chelsea Therapeutics is seeking approval of droxidopa for “the treatment of symptomatic neurogenic orthostatic hypotension in patients with primary autonomic failure, which includes Parkinson’s Disease, Multiple System Atrophy and Pure Autonomic Failure, as well as to treat two other conditions. In the document, FDA staff wrote that the decision whether or not to approve droxidopa is "complex," noting that strong evidence from one clinical trial indicates that droxidopa confers "at least one week of symptomatic benefit," but also that there has been no durable effect, i.e., more than 1 week, demonstrated for droxidopa. The document also notes that Shire (SHPG), the sponsor of midodrine, an approved drug for symptomatic orthostatic hypotension, is currently being tasked with completing 2 adequate and well controlled trials to demonstrate that drug’s symptomatic benefit. The document also states that there were "numerous concerning safety findings" related to droxidopa. PRICE ACTION: In morning trading, shares of Chelsea Therapeutics are down over 29% to $2.50. Reference Link
News For CHTP;SHPG From The Last 14 Days
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July 18, 2014
16:47 EDTSHPGMarket ends week higher as earnings, M&A offset geopolitical tensions
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11:25 EDTSHPGOptions with decreasing implied volatility
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10:38 EDTSHPGShire downgraded to Fair Value from Buy at CRT Capital
Shire (SHPG) is being acquired by AbbVie (ABBV).
10:34 EDTSHPGShire downgraded to Neutral from Overweight at Piper Jaffray
Shire (SHPG) is being acquired by AbbVie (ABBV).
10:30 EDTSHPGAbbVie says can't back out of Shire deal based on tax law change, Bloomberg says
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09:29 EDTSHPGAbbVie, Shire says merger should help in enhanced buyback and dividend programs
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06:23 EDTSHPGShire raises FY14 EPS to low-to-mid 30% growth from mid-to-high teens
Raises FY14 product sales guidance to growth in high teens from mid-to-high teens. Shire continues to expect royalties and other revenues to be 10%-15% lower than 2013.
06:19 EDTSHPGShire reports Q2 EPS $2.67, consensus $2.45
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05:17 EDTSHPGAbbVie, Shire agree on merger worth GBP32B pounds
The boards of AbbVie (ABBV) and Shire (SHPG) announced that they have reached agreement on the terms of a recommended combination of Shire with AbbVie. Under the terms of the Merger, Shire shareholders will be entitled to receive per share GBP 24.44 in cash and 0.8960 new AbbVie shares. Immediately following the transaction, Shire shareholders are expected to hold new AbbVie Shares representing approximately 25% of the issued share capital of new AbbVie. AbbVie expects the transaction to be accretive to adjusted earnings per share in the first year following completion, growing to above $1.00 per share by 2020, with "material ongoing financial and operating benefits." The AbbVie board also expects the transaction to reduce New AbbVie's effective tax rate to approximately 13% by 2016. The Shire board said it "considers the terms of the Transaction to be fair and reasonable." In order to undertake the transaction, AbbVie has formed a new company, New AbbVie, which is incorporated in Jersey, Shire's current place of incorporation. Following completion of the Transaction, New AbbVie will become the holding company of the Shire Group and the AbbVie Group. It is intended that the New AbbVie Shares will be listed on the New York Stock Exchange.
05:12 EDTSHPGAbbVie to acquire Shire for 52.48 pounds per share in cash, stock
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July 17, 2014
13:34 EDTSHPGShire reports results from Vyvanse vs. Concerta studies in adolescents with ADHD
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12:56 EDTSHPGAbbVie set to announce GBP 31B deal to buy Shire, FT says
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12:54 EDTSHPGAbbVie set to announce GBP 31B deal to buy Shire, FT says
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11:12 EDTSHPGOptions with decreasing implied volatility
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July 16, 2014
10:35 EDTSHPGOptions with decreasing implied volatility
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07:59 EDTSHPGTreasury Secretary urges Congress to take action on tax inversions
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05:53 EDTSHPGStocks with implied volatility below IV index mean; LO SHPG
Stocks with implied volatility below IV index mean; Lorillard (LO) 21, Shire (SHPG) 31 according to iVolatility.
05:47 EDTSHPGStocks with implied volatility movement; SHPG XLP
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July 15, 2014
10:37 EDTSHPGOptions with decreasing implied volatility
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06:04 EDTSHPGStocks with implied volatility below IV index mean; BBBY SHPG
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