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Stock Market & Financial Investment News

News Breaks
February 6, 2013
08:53 EDTCVS, ESRX, WAGCVS says on track to deliver significant cost savings from streamlining efforts
Says expects to hit full run rate of annual savings of $225M-$275M beginning in 2014. Says working with CMS to resolve Medicare Part D sanction; says SilverScript members not affected by this action. In 2013, says expects to retain at least 60% of the scripts gained during the Walgreens (WAG)/Express Scripts (ESRX) impasse. Says will continue to take a "measured approach" to international growth plan. Comments made on the Q4 earnings conference call.
News For CVS;WAG;ESRX From The Last 14 Days
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May 21, 2015
11:08 EDTESRXExpress Scripts management to meet with Jefferies
Meeting to be held in New York on May 26 hosted by Jefferies.
09:38 EDTESRXExpress Scripts starting to win some business, says Cleveland Research
Cleveland Research is hearing Express Scripts won the state of South Carolina business and renewal rates remain strong and on track to achieve guidance of 94%-97%.
09:28 EDTCVSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Quality Systems (QSII), up 9.5%... Trina Solar (TSL), up 7.1%... Best Buy (BBY), up 7.5%... Kirkland's (KIRK), up 4.3% after reporting quarterly results, guidance, and announcing a $1.50 per share special dividend... Williams-Sonoma (WSM), up 3.8%... salesforce.com (CRM), up 4.8%... Youku Tudou (YOKU), up 1.2%. ALSO HIGHER: CTPartners (CTP), up 30.7% after agreeing to exclusive negotiations to be acquired by DHR International... Omnicare (OCR), up 1.3% after CVS Health (CVS) agrees to acquire the company for $98.00 per share, CVS Health is up 1%... Telenav (TNAV), up 3.3% after being initiated with an Outperform at Northland. DOWN AFTER EARNINGS: NetApp (NTAP), down 11.7%... Rexnord (RXN), down 9.9%... Dollar Tree (DLTR), down 2%. ALSO LOWER: Wave Systems (WAVX), down 22.9% after 7.3M share Spot Secondary priced at 65c... Lumber Liquidators (LL), down 16.5% after CEO resigns... Dicerna Pharmaceuticals (DRNA), down 5.8% after 2.75M share Secondary priced at $17.75.
09:03 EDTCVSOptions expected to be active
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08:54 EDTCVSCVS expects Omnicare deal to have significant synergies, operating efficiencies
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07:48 EDTCVSCVS Health to hold a conference call
Conference call to discuss definitive agreement to acquire Omnicare will be held on May 21 at 8:30 am. Webcast Link
07:21 EDTCVSOmnicare elevated into CVS Health acquiring for $98 per share
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07:06 EDTCVSCVS Health agree to acquire Omnicare for $98 per share
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07:04 EDTCVSCVS Health agree to acquire Omnicare for $98 per share
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May 20, 2015
18:19 EDTCVSOmnicare up about 5% from close after talks of being acquired by CVS Health
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18:10 EDTCVSCVS Health in late stage talks to acquire Omnicare, Bloomberg says
CVS Health (CVS) is in advanced talks to buy Omnicare (OCR), Bloomberg reports, citing people with knowledge of the matter. A deal could be reached as soon as this week, the sources added. Reference Link
18:00 EDTCVSCVS Health reportedly in advanced talks to acquire Omnicare, Bloomberg says
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11:51 EDTESRXExpress Scripts' Medco to pay $7.9M to resolve kickback allegations
Medco Health Solutions, a wholly-owned subsidiary of the pharmacy benefit manager Express Scripts Holding Company (ESRX), of Missouri, has agreed to pay the government $7.9M to settle allegations that it engaged in a kickback scheme in violation of the False Claims Act, the Justice Department announced. Medco provides pharmacy benefit management services to clients who receive subsidies under the Medicare Retiree Drug Subsidy program. The settlement resolves allegations that Medco solicited remuneration from AstraZeneca, a pharmaceutical manufacturer, in exchange for identifying Nexium as the “sole and exclusive” proton pump inhibitor on certain of Medco’s prescription drug lists known as formularies. The United States alleged that Medco received some or all of the remuneration from AstraZeneca in the form of reduced prices on the following AstraZeneca drugs: Prilosec, Toprol XL and Plendil. The United States contended that this kickback arrangement between Medco and AstraZeneca (AZN) violated the Federal Anti-Kickback statute, and thereby caused the submission of false or fraudulent claims for Nexium to the Retiree Drug Subsidy Program. In January 2015, the United States and AstraZeneca reached a $7.9M settlement to resolve kickback allegations arising out of the same conduct. This civil settlement resolves a lawsuit filed under the qui tam, or whistleblower, provision of the False Claims Act, which allows private citizens with knowledge of false claims to bring civil actions on behalf of the government and to share in any recovery. The lawsuit was filed by former AstraZeneca employees Paul DiMattia and F. Folger Tuggle, whose share of the settlement has not been determined. The settlement with Medco was the result of a coordinated effort among the Civil Division, the U.S. Attorney’s Office of the District of Delaware and HHS-OIG.
10:00 EDTESRXOn The Fly: Analyst Initiation Summary
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07:21 EDTCVSUBS to hold a conference
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May 19, 2015
16:41 EDTESRXExpress Scripts initiated with a Neutral at Baird
Target $94.
07:17 EDTCVSCVS Health has a conference call hosted by JPMorgan
JPMorgan Analyst Gill will host a conference call with CEO Larry Merlo on May 21 at 11 am.
May 14, 2015
11:08 EDTESRXExpress Scripts management to meet with Maxim
Meeting to be held in St. Louis, MO on May 21 hosted by Maxim.
May 13, 2015
11:47 EDTCVSCVS Health says to pay $22M in settlement with DEA, USAO
CVS Health said in a regulatory filing that it has entered into an agreement with the U.S. Attorney’s Office for the Middle District of Florida and the U.S. Drug Enforcement Administration to resolve previously-disclosed allegations relating to the dispensing of certain controlled substances in Florida. CVS Health agreed to pay $22M and the settlement resolves all civil matters between the Company and the DEA in the state of Florida. This payment amount has been fully accrued for in prior fiscal periods.
May 11, 2015
07:40 EDTESRX, CVSFocus on Vertex will shift to pricing after Orkambi FDA meeting, WSJ says
An FDA advisory committee that meets Tuesday to decide whether to recommend approval of Vertex’s Orkambi will be closely watched by health insurers and pharmacy-benefit managers concerned that the experimental cystic-fibrosis drug will be high-priced, said The Wall Street Journal. Vertex hasn’t announced a price, but analyst at JPMorgan predict the drug will have a wholesale price of about $287,000 annually per patient. Publicly traded PBM owners include Catamaran (CTRX), which is being acquired by UnitedHealth (UNH), CVS Health (CVS) and Express Scripts (ESRX). Reference Link
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