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Stock Market & Financial Investment News

News Breaks
May 23, 2014
11:12 EDTJAZZJazz Pharmaceuticals price target lowered to $151 from $182 at Cantor
Cantor believes an overhang remains on Jazz Pharmaceuticals as the company continues to dispute the wording in the final REMS for Xyrem and the firm now sees a lower chance that the company may be taken over in the next year. Cantor lowered its price target on Jazz to $151 from $182 and maintains its Hold rating on the shares.
News For JAZZ From The Last 14 Days
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May 1, 2015
12:26 EDTJAZZBiogen patent challenged by Kyle Bass
The Coalition For Affordable Drugs, a group linked to Hayman Capital's Kyle Bass, has requested an Inter Partes Review of Claims 1-20 of US patent 8,399,514 held by Biogen (BIIB), according to a USPTO filing. The patent is related to the company's multiple sclerosis drug. BACKGROUND: Previously, the same coalition requested an Inter Partes Review of patents held by Celgene (CELG), Pharmacyclics (PCYC), Acorda Therapeutics (ACOR), Shire (SHPG) and Jazz Pharmaceuticals (JAZZ). PRICE ACTION: Shares of Biogen are up 3% to $385.29 in afternoon trading.
April 23, 2015
09:20 EDTJAZZCelgene patent latest to be challenged by Hayman Capital's Bass
The Coalition For Affordable Drugs, a group linked to Hayman Capital's Kyle Bass, has requested an Inter Partes Review of Claims 110 of U.S. Patent No. 6,045,501 held by Celgene (CELG), according to a USPTO filing. The 501 patent claims methods for delivering a drug, including a teratogenic drug, to a patient while preventing the exposure of a fetus or other contraindicated individuals to the drug. The patent is related to the company's Revlimid drug. BACKGROUND: Previously, the same coalition requested an Inter Partes Review of patents held by Pharmacyclics (PCYC), Acorda Therapeutics (ACOR), Shire (SHPG) and Jazz Pharmaceuticals (JAZZ). On January 7, Reuters reported that Bass planned to take "around 15 pharmaceutical companies with a combined market capitalization of $450B" into an Inter Partes Review for extending patents in questionable ways, citing a presentation made by Bass in Oslo. PRICE ACTION: Shares of Celgene are down 0.5% to $114.92 in pre-market trading.
April 20, 2015
14:32 EDTJAZZPharmacyclics patent for Imbruvica challenged by Hayman Capital's Bass
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