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Stock Market & Financial Investment News

News Breaks
August 25, 2014
10:40 EDTSNY, GILD, ITMN, ALIOF, ARIA, CELG, GSK, MNK, RHHBYBiotechs rise after InterMune acquired by Roche
Shares of a number of biopharmaceutical companies are climbing after drug maker Roche (RHHBY) agreed to buy its smaller peer, Intermune (ITMN). InterMune focuses on developing treatments for respiratory and orphan fibrotic diseases. WHAT'S NEW: Roche agreed to buy InterMune for $74 per share in an all-cash transaction, the companies announced yesterday. InterMune's stock closed at $53.80 on Friday and the takeover price represents a premium of 38% to InterMune's closing price on August 22 and a premium of 63% to InterMune's closing price on August 12, the companies stated. WHAT'S NOTABLE: On August 11, an investment blog, "Betaville," said that InterMune was rumored to be exploring strategic options. On August 13, Bloomberg reported that InterMune had received takeover bids from Roche, Sanofi (SNY), GlaxoSmithKline (GSK) and Actelion (ALIOF). InterMune was evaluating the bids, the news service stated at the time. ANALYST REACTION: In a note to investors earlier today, research firm Bernstein wrote that the deal makes sense strategically for Roche. The transaction "rounds out" the company's respiratory based offerings and it makes sense for the company to diversify, according to the firm, which kept an Outperform rating on Roche. PRICE ACTION: In mid-morning trading, InterMune soared 36% to $73 and Roche shares trading in New York added 0.7% to $36.56. Meanwhile, Gilead (GILD) rose 2.6% to $106.67, Celgene (CELG) advanced 2% to $93.50, MannKind (MNKD) gained 3.4% to $7.36, and Ariad Pharmacticals (ARIA) climbed 3% to $6.09.
News For ITMN;RHHBY;CELG;GILD;MNK;ARIA;SNY;GSK;ALIOF From The Last 14 Days
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February 24, 2015
09:35 EDTGILDActive equity options trading on open
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09:06 EDTRHHBYRoche receives orphan status for treatment of pemphigus vulgaris
The FDA granted Roche's Genentech unit orphan status for rituximab, its treatment of pemphigus vulgaris.
08:04 EDTCELGCelgene reports Abraxane now reimbursed in Italy as first-line treatment
Celgene International Sŕrl, a wholly owned subsidiary of Celgene Corporation, announced that Italian authorities have issued a positive decision for NHS reimbursement of ABRAXANE -- paclitaxel formulated as albumin-bound nanoparticles, or nab-paclitaxel -- in combination with gemcitabine, for the first-line treatment of patients with metastatic adenocarcinoma of the pancreas, or pancreatic cancer. The reimbursement decision has been published in the Italian Official Gazette no. 30, dated February 6, 2015.
07:31 EDTCELGRBC Capital to hold a conference
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07:05 EDTRHHBYRoche and BioMed X enter collaboration agreement to develop sensor technology
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February 23, 2015
16:00 EDTGILDOptions Update; February 23, 2015
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13:33 EDTGSKRBS could name Howard Davies as chairman this week, FT reports
Royal Bank of Scotland (RBS) could name Howard Davies as its chairman as early as Thursday, when the bank reports its full-year results, the Financial Times reports. Davies is currently chairman of insurance business Phoenix Group and chairs Morgan Stanley's (MS) risk committee. Current RBS Chairman Philip Hampton is set to become GlaxoSmithKline's (GSK) chairman as early as this summer. Reference Link
11:17 EDTGSKFTC puts conditions on Novartis's proposed acquisition of GSK oncology drugs
According to the FTC, Global pharmaceutical company Novartis (NVS) has agreed to divest all assets related to its BRAF and MEK inhibitor drugs, currently in development, to Boulder, Colorado-based Array BioPharma (ARRY) to settle charges that Novartis’s $16B acquisition of GlaxoSmithKline’s (GSK) portfolio of cancer-treatment drugs would likely be anticompetitive...If the acquisition goes forward as proposed, Novartis would likely delay or terminate development of both its BRAF and MEK inhibitors, as well as the combination product. For that reason, Novartis’s acquisition of GSK’s portfolio of cancer-treatment drugs would likely cause significant competitive harm in the U.S. markets for both the BRAF and MEK inhibitors, ultimately raising prices for consumers and depriving them of potentially superior products. Under the terms of the proposed consent agreement, Novartis is required to provide transitional services to Array BioPharma to ensure that development of the BRAF and MEK inhibitors continues uninterrupted and that competition in BRAF and MEK inhibitor markets is not reduced. Reference Link
10:45 EDTARIAOptions with increasing implied volatility
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09:39 EDTGILDActive equity options trading on open
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07:16 EDTGILDMylan signs exclusive agreement with Gilead to distribute Solvaldi, Harvoni
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06:21 EDTRHHBYFacebook's shuttle drivers approve new union contract, WSJ reports
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05:46 EDTARIAStocks with implied volatility movement; ARIA CYBR
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February 20, 2015
16:48 EDTRHHBYDow, S&P 500 finish week at record highs after Greek deal reached
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16:03 EDTCELGOptions Update; February 20, 2015
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09:38 EDTCELGActive equity options trading on open
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07:23 EDTRHHBY, GSKAbbVie replaces Pfizer as top global pharma pick at Jefferies
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07:08 EDTSNY, GSKAmerican Academy of Allergy, Asthma and Immunology to hold annual meeting
2015 Annual Meeting of AAAAI is being held in Houston, Texas on February 20-24.
06:35 EDTARIASarissa Capital seeks retirement of ARIAD CEO, board seats
Sarissa Capital disclosed in a regulatory filing that it has been in negotiations with members of ARIAD's board in an attempt to avoid a potential proxy contest. Sarissa said it indicated its belief that the board undertake measures to effect and facilitate the imminent retirement of Harvey Berger as CEO and that any settlement of a potential proxy contest must include the CEO’s retirement. It added that no settlement has been reached. Sarissa believes the board "as currently constructed is not up to the task of providing the stewardship necessary to optimally navigate" the company. On February 19, Sarissa notified ARIAD that it intends to appear at the company's 2015 annual meeting of stockholders to nominate and seek to elect Richard Mulligan, Ph.D. and Anna Protopapas to the eight member staggered board of directors. Sarissa intends to seek to unseat Harvey Berger, ARIAD's Chairman and CEO, and Wayne Wilson, the lead independent director, with its two nominees. Sarissa added that it is "extremely concerned" with the conduct of certain members of the board, "particularly with respect to compensation, governance and financial matters." The hedge fund said it may ultimately initiate court proceedings to seek to remove one or more directors for cause based on potential breaches of their fiduciary duties. Sarissa Capital has a 6.9% stake in ARIAD.
05:27 EDTCELGCelgene Revlimid approved by EC
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