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News Breaks
March 25, 2014
07:53 EDTPRGO, MYL, VRX, ENDPPullback has created attractive pharma opportunities, says JPMorgan
JPMorgan believes nothing has fundamentally changed to warrant the recent pullback in the specialty pharmaceutical space and views the pullback as an attractive buying opportunity. JPMorgan named Endo Health (ENDP), Mylan (MYL), Perrigo (PRGO), and Valeant (VRX) as stocks on which it maintains Overweight ratings, citing their favorable positions given the wave of consolidation ongoing in the industry.
News For ENDP;MYL;PRGO;VRX From The Last 14 Days
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January 30, 2015
05:20 EDTVRXDendreon reaches agreement for Valeant to serve as 'stalking horse bidder'
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January 29, 2015
16:35 EDTENDPEndo sees Auxilium transaction immediately accretive
Endo International plc (ENDP)announced it has completed the acquisition of Auxilium Pharmaceuticals (AUXL) in a transaction valued at $2.6B when announced on October 9, 2014. The closing of the transaction follows the approval of the acquisition by Auxilium's shareholders on January 27 and the receipt of all required regulatory approvals. Rajiv De Silva, president and CEO of Endo, stated, This strategic transaction enhances the organic growth of our branded pharmaceuticals business by adding a broad range of high quality products to our already robust portfolio and expanding our development pipeline. We are excited to deliver on the promise of this combination by leveraging our resources to enhance the performance of XIAFLEX and optimize TESTOPEL and STENDRA. We continue to expect the transaction to be immediately accretive for shareholders and meaningfully accretive each year moving forward. We believe that Endo is now even better positioned to drive growth across our product portfolio and to capitalize on additional future strategic M&A opportunities to create value for shareholders, customers and employees." Auxilium common stock will cease to be traded on the NASDAQ Global Market following the close of trading on January 29.
11:19 EDTMYLMylan shareholders approve acquisition of Abbott's generics business
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09:13 EDTMYLAbbott sees 6% negative impact to FY sales from forex
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January 28, 2015
11:34 EDTMYLEC clears Abbott sale of non-U.S. EPD-DM business to Mylan, with conditions
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Abbott Laboratories' (ABT) Non-U.S. Developed Markets Specialty and Branded Generics Business, or EPD-DM, by Mylan (MYL). The decision is conditional upon the divestment of a number of Mylan's businesses in Germany, the United Kingdom, France, Ireland and Italy. The Commission had concerns that the transaction, as initially notified, would have reduced competition on the market for several medicines. The commitments offered by Mylan address these concerns, the EC said.
08:08 EDTPRGOGalmed and Perrigo sign agreement for aramchol API production
Galmed (GLMD) has entered into a Manufacturing Services Agreement with Perrigo (PRGO) subsidiary Perrigo API Ltd. for the large-scale production of the active pharmaceutical ingredient of Galmed's product candidate, aramchol. The API produced pursuant to this agreement is expected to provide sufficient quantities of aramchol for Galmed's potential future Phase III clinical trials of aramchol for the treatment of Non-Alcoholic Steato-Hepatitis, or NASH. The agreement also provides Perrigo with the option to manufacture commercial supplies of the aramchol API in the future.
January 27, 2015
09:35 EDTENDPAuxilium shareholders approve merger with Endo
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January 26, 2015
11:00 EDTMYLMylan expands Hepatitis C licensing agreement with Gilead
Mylan (MYL) announced that its subsidiary Mylan Laboratories Limited is expanding its hepatitis C licensing agreement with Gilead Sciences (GILD) to include the non-exclusive rights to manufacture and distribute the investigational NS5A inhibitor GS-5816 and single tablet regimen of sofosbuvir/GS-5816, once approved, in 91 developing countries. The single tablet regimen is being evaluated in Phase 3 clinical studies for the treatment of all six genotypes of hepatitis C. If approved by regulatory authorities, the sofosbuvir/GS-5816 regimen would become the first all-oral single tablet regimen for all hepatitis C genotypes. A pan-genotypic therapeutic option is particularly important for developing countries, where genotype testing is often unreliable or not readily available. This agreement is in addition to the licensing and technology transfer agreement that Mylan entered into with Gilead in September 2014, which grants Mylan the non-exclusive rights to manufacture and distribute sofosbuvir and ledipasvir/sofosbuvir in 91 developing countries. Mylan also partners with Gilead on expanding access to high quality, affordable antiretrovirals for the treatment of HIV/AIDS in India and other developing countries.
January 22, 2015
14:03 EDTENDPAuxilium to host special shareholder meeting
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05:57 EDTVRXActavis, Valeant raise prospects of more healthcare deals, Financial Times says
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January 21, 2015
18:27 EDTENDPOn The Fly: After Hours Movers
UP AFTER EARNINGS: eBay (EBAY), up 2.9%... United Rentals (URI), up 1.5%. ALSO HIGHER: Minerva (NERV), up 16.1% after reporting positive Phase 1 data with MIN-202... Endo (ENDP), up 3.1% after it was announced that Endo will replace Covidien in S&P 500 as of 1/26 close... Covidien (COV) is up 1%. DOWN AFTER EARNINGS: F5 Networks (FFIV), down 15.8%... Xilinx (XLNX), down 6.1%... Discover Financial Services (DFS), down 3.3%... American Express (AXP), down 2.2%. ALSO LOWER: BioMarin (BMRN), down 2.5% after filing to sell 7.25M shares of common stock... Kinder Morgan (KMI), down 1.9% after announcing that it will acquire Hiland Partners for approximately $3B and reporting fourth quarter results... Cisco (CSCO), down 1.4% after Bloomberg reported that Oracle's (ORCL) Ellison said that Oracle's new Virtual Compute Appliance is cheaper than Cisco's product.
18:06 EDTENDPS&P announces changes to the S&P 500, MidCap 400, SmallCap 600 indices
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17:19 EDTENDPBoston Beer to replace Endo in S&P 400 as of 1/26 close
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17:18 EDTENDPEndo to replace Covidien in S&P 500 as of 1/26 close
12:30 EDTVRXGlaxoSmithKline 'admired' by Pfizer CEO, FT reports
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January 20, 2015
14:37 EDTMYLTeva generic competition to Copaxone pushed out by ruling, says BMO Capital
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12:56 EDTMYLMylan says continues to believe '808 patent is 'invalid'
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11:16 EDTPRGOPerrigo management to meet with B. Riley
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10:40 EDTMYLMomenta Pharma sinks after Supreme Court rules on Copaxone
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07:00 EDTENDPEndo price target raised to $98 from $86 at Piper Jaffray
Piper Jaffray raised its price target for Endo shares to $98 saying Xiaflex's market expansion opportunities are not fully appreciated by the broader market. It keeps an Overweight rating on the stock.
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