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Stock Market & Financial Investment News

News Breaks
June 6, 2014
14:32 EDTHSPHospira issues statement on paclitaxel supply and pricing
The company said, "Given recent misinformation, we at Hospira Canada feel it is very important to clarify and provide further context regarding the Canadian supply and pricing of paclitaxel – a life-saving cancer medication. Most importantly, through Hospira's efforts, and working closely with Health Canada, a severe oncology treatment crisis was avoided, resulting in no patient disruption of a key oncolytic therapy. Contrary to media reports, Hospira did not increase our price for paclitaxel. In fact, Hospira offered a 75 percent discount off our list price of paclitaxel to Canadian purchasing groups that previously purchased the drug from another supplier that is not currently able to supply the market. The price referenced in media coverage is the list price for paclitaxel. Because we recognize the importance of paclitaxel, we offered this deep discount well before the issue became public by directly engaging each affected purchasing group in May, along with a firm commitment to apply the discount retroactively. We're hoping to quickly finalize agreements with the key purchasing groups that supply Canadian hospitals so they can obtain the discounted price and not pay the list price. It is expensive and complicated to meet this large, unexpected and sudden increase in demand. As well as offering the 75 percent discount, we have taken the following actions to ensure a smooth supply: We have increased local inventory levels across our portfolio to meet spikes in demand when shortages arise; We have expedited delivery to Canada ahead of other markets, while balancing the needs of our global patient base; We have worked with customers across the country to allocate inventories from institutions that had higher levels of inventory to where needs were critically necessary; We have made corporate investments exceeding $1 billion in recent years to expand production to provide a reliable supply of medically necessary products and prevent drug shortages, as we have been able to do with paclitaxel in Canada. Hospira has built a strong record in Canada, specifically in Montreal, with roots that date back to 1927, employing nearly 200 skilled and highly-trained individuals. We are proud to build on this heritage by quickly mobilizing our operations to provide life-saving cancer treatments to all Canadian patients who require them."
News For HSP From The Last 14 Days
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December 11, 2014
07:13 EDTHSPDanone to discuss whether to keep or sell medical nutrition unit, Reuters says
According to a source, Danone (DANOY) will hold a board meeting today to discuss whether to keep or sell its medical nutrition business, Reuters reports. Previous reports said Danone's board would decide whether to sell the unit to Hospira (HSP) or Fresenius (FMS), with Fresenius as the possible front-runner to enter exclusive talks. Reference Link
December 9, 2014
13:08 EDTHSPMerck may have paid $2B-$3B too much for Cubist, analyst says
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08:23 EDTHSPMerck has 'no way out' of Cubist deal after court decision, says Leerink
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08:12 EDTHSPMerck still sees Cubist acquisition neutral to modestly accretive to 2015 EPS
Merck (MRK) issued the following statement regarding the decision of the U.S. District Court for the District of Delaware. The decision, which upheld the patent for CUBICIN that expires on June 15, 2016 and invalidated four others, is subject to appeal. The company continues to believe the acquisition of Cubist (CBST) will create strong fundamental value for Merck’s shareholders. The combined strength of both companies will provide both incremental and long-term value, and Merck expects the transaction to add more than $1B of revenue to its 2015 base, with strong growth potential thereafter. The court’s decision does not change Merck’s expectation that the transaction will be neutral to modestly accretive to 2015 non-GAAP EPS. The company also continues to expect that the transaction will contribute mid-single digit accretion on a percentage basis to non-GAAP EPS in 2016, and will continue to be accretive thereafter.
December 8, 2014
19:00 EDTHSPCubist CEO says Cubicin patent ruling will not affect Merck transaction
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18:24 EDTHSPOn The Fly: After Hours Movers
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18:00 EDTHSPCubist loses bid to stop Hospira's generic Cubicin after 2016, Bloomberg says
Cubist's (CBST) patent for Cubicin that expires in June 2016 upheld by judge, Bloomberg added. Note that this morning Merck (MRK) and Cubist Pharmaceuticals announced that the companies have entered into a definitive agreement under which Merck will acquire Cubist for $102 per share in cash.
17:54 EDTHSPFour Cubist Cubicin patents invalidated as Hospira wins ruling, Bloomberg says
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17:30 EDTHSPMerck shares lower after reports of judge decision in Cubist/Hospira case
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17:03 EDTHSPJudge may have found in favor of Hospira in Cubist case,CNBC's Meg Tirrell says
CNBC's Meg Tirrell said in a tweet: "Whoa. $CBST Hospira decision out -- "appears judge may have found in favor of Hospira on several points," ISI's @MarkSchoenebaum says." Reference Link
08:21 EDTHSPMerck says looked at all risks, including patent litgation, before Cubist deal
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