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Stock Market & Financial Investment News

News Breaks
August 5, 2014
06:05 EDTMRK, IDIXMerck completes tender offer to acquire Idenix for $24.50 per share
Merck (MRK) announced the completion of the tender offer for all of the outstanding shares of common stock of Idenix Pharmaceuticals (IDIX) at a purchase price of $24.50 per share. As of the tender offer expiration yesterday, 131,693,787 shares of common stock of Idenix were validly tendered and not withdrawn from the tender offer, representing approximately 82.5 percent of the outstanding common stock of Idenix on a fully diluted basis. Following consummation of the tender offer, Merck expects to complete the acquisition of Idenix through a merger of Merck’s wholly-owned subsidiary with and into Idenix without stockholder approval. Upon completion of the merger, all outstanding shares of common stock of Idenix, other than shares held by Idenix in treasury or shares held by Idenix’s stockholders who are entitled to and properly exercise appraisal rights under Delaware law, will be canceled and converted into the right to receive cash equal to the $24.50 offer price per share without interest, less any applicable withholding taxes.
News For IDIX;MRK From The Last 14 Days
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September 30, 2014
16:39 EDTMRKCMS discloses drug makers' payments to doctors, WSJ says
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08:16 EDTMRKTetraphase price target raised to $32 from $20 at JMP Securities
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September 29, 2014
07:26 EDTMRKInforma Business Information to hold a conference
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05:44 EDTMRKMerck announces early data from investigational use of KEYTRUDA
Merck announced the first presentation of data on the investigational use of KEYTRUDA, the company’s anti-PD-1 therapy, in PD-L1 positive, advanced urothelial cancer. The early findings presented showed a confirmed overall response rate of 24% with KEYTRUDA as monotherapy, as measured by RECIST v1.1, central review including a complete response rate of 10%. At the time of analysis, response durations ranged from 16+ to 40+ weeks with six of the seven responders continuing on therapy. In the ongoing study, 64% of patients screened had tumors that were determined to be positive for PD-L1 expression.
September 28, 2014
12:53 EDTMRKMerck announces first presentation of data on investigational use of KEYTRUDA
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September 26, 2014
08:31 EDTMRKLigand, Merck receive approval for NOXAFIL
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September 23, 2014
07:33 EDTMRKOphthotech names Michael Atieh as EVP, Chief Financial and Business Officer
Ophthotech Corporation (OPHT) announced that Michael G. Atieh has been named EVP, Chief Financial and Business Officer and Treasurer effective September 30. Atieh replaces Bruce A. Peacock, Chief Financial and Business Officer and Treasurer, who has notified the company of his intention to retire effective September 30. Atieh spent the majority of his career in the pharmaceutical industry with Merck and Co (MRK), where he held various senior level positions over a 20 year period including Senior Vice President-Merck Medco Managed Care, Vice President-U.S. Human Health, Vice President-Public Affairs, Vice President-Government Relations, and Treasurer.
September 22, 2014
06:51 EDTMRKMerck to host conference call
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September 18, 2014
08:48 EDTMRKNeogen's dairy genomic program to be marketed by Merck
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September 17, 2014
09:33 EDTMRKMerck announced positive results from Phase 3 data for omarigliptin
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08:31 EDTMRKMerck, Sun Pharma enter into licensing agreement for Tildrakizumab
Merck and Sun Pharmaceutical Industries, through their respective subsidiaries,announced an exclusive worldwide licensing agreement for Merck’s investigational therapeutic antibody candidate, tildrakizumab, which is currently being evaluated in Phase 3 registration trials for the treatment of chronic plaque psoriasis, a skin ailment. Under terms of the agreement, Sun Pharma will acquire worldwide rights to tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of $80M. Merck will continue all clinical development and regulatory activities, which will be funded by Sun Pharma. Upon product approval, Sun Pharma will be responsible for regulatory activities, including subsequent submissions, pharmacovigilance, post approval studies, manufacturing and commercialization of the approved product. Merck is eligible to receive undisclosed payments associated with regulatory and sales milestones, as well as tiered royalties ranging from mid-single digit through teen percentage rates on sales. The transaction is subject to customary closing conditions, including the requirements under the Hart Scott-Rodino Antitrust Improvements Act.
September 16, 2014
07:31 EDTMRKEuropean Association for Study of Diabetes to hold annual meeting
50th Annual Meeting of EASD to be held in Vienna, Austria on September 15-19.
07:25 EDTMRKMerck price target raised to $72 from $62 at SunTrust
After meeting with Merck's CEO and head of clinical development, SunTrust increased its price target on the company as the firm thinks that it is ideally positioned across five of the fastest growing therapeutic classes. The firm believes that the company's EPS growth rates from 2015-2020 will be three percentage points above Street estimates, while it has a first-mover advantage in oncology. It keeps a Buy rating on the shares.

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