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Stock Market & Financial Investment News

News Breaks
November 13, 2012
10:25 EDTCPIX, PRGOCumberland enters settlement with Paddock, Perrigo for Acetadote patent
Cumberland (CPIX) disclosed this morning that it entered into a settlement agreement with Paddock and Perrigo to resolve the challenges and the pending litigation between the company and each of Paddock and Perrigo (PRGO) involving its Acetadote patent. Under the agreement, Paddock and Perrigo admit that the Acetadote patent is valid and enforceable and that any Paddock or Perrigo generic Acetadote would infringe upon the Acetadote patent. In addition Paddock and Perrigo will not challenge the validity, enforceability, ownership or patentability of the Acetadote patent through its expiration currently scheduled for May 2026. The agreement provides, among other things, that within three days of execution, the parties will file with the respective Illinois and Delaware courts all necessary papers required to dismiss without prejudice all claims and counterclaims, motions and petitions asserted in the above referenced lawsuits In connection with the execution of the settlement agreement, Cumberland entered into a License and Supply Agreement with Paddock and Perrigo. Under the terms, if a third party receives final approval from the FDA to sell a generic Acetadote product, Cumberland will supply Perrigo with an authorized generic version of the Acetadote product. Perrigo agrees to sell the authorized generic and that it would share with Cumberland the net sales revenues.
News For CPIX;PRGO From The Last 14 Days
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July 24, 2014
12:56 EDTPRGOPerrigo confirms AB therapeutic equivalent rating for testosterone gel 1.0%
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July 23, 2014
10:02 EDTPRGOOn The Fly: Analyst Initiation Summary
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08:10 EDTPRGODeutsche Bank hosts an analyst Specialty Pharma/Industry conference call
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July 22, 2014
16:09 EDTPRGOPerrigo initiated with a Buy at Deutsche Bank
Target $189.
July 18, 2014
09:35 EDTPRGOPerrigo would rather make acquisitions than be sold, dealReporter says
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July 16, 2014
11:34 EDTPRGOPerrigo management to meet with Needham
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07:59 EDTPRGOTreasury Secretary urges Congress to take action on tax inversions
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July 15, 2014
11:13 EDTPRGOPerrigo retreats after analyst sees limited potential buyers
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07:48 EDTPRGOPerrigo could be acquired, says RBC Capital
After Globes suggested that Perrigo has hired an investment bank to sell the company. RBC Capital thinks the company has several attributes that could appeal to potential acquirers, including its ability to serve as an inversion vehicle. However, the firm believes that Perrigo could also acquire another company instead. RBC Capital keeps a $160 price target and Outperform rating on the shares.
07:35 EDTPRGOPerrigo potential buyers list could be limited, says Jefferies
After Globes reported that Perrigo retained an investment bank to assist with a potential merger, Jefferies says the list of potential buyers could be limited since the store brand business is fundamentally a high volume, lower margin model. The firm notes U.S. companies that currently do not have large over-the-counter divisions include Bristol-Myers (BMY), Eli Lilly (LLY) and Merck (MRK). Jefferies views the merger speculation surrounding Perrigo as not surprising given the company's strong long-term fundamentals and attractive Irish domicile. It has a Buy rating on the stock with a $160 price target.
July 14, 2014
16:30 EDTPRGOOn The Fly: Closing Wrap
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10:49 EDTPRGOPerrigo hires bank, seeks merger with large peer, Globes says
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10:48 EDTPRGOPerrigo calls active on circulation of Globes report
Perrigo July 145, 150 and 155 calls are active on total call volume of 1500 contracts (300 puts) following the circulation of Globes report. July call option implied volatility 50, August is at 40, November is at 31; compared to its 26-week average of 29 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
10:38 EDTPRGOPerrigo move higher attributed to circulation of Globes report
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July 11, 2014
10:00 EDTPRGOOn The Fly: Analyst Downgrade Summary
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09:15 EDTPRGOPerrigo downgraded to Equal Weight from Overweight at Morgan Stanley
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