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Stock Market & Financial Investment News

News Breaks
April 22, 2014
05:38 EDTNVS, LLYEli Lilly acquires Novartis Animal Health for $5.4B in all-cash transaction
Eli Lilly (LLY) announced an agreement to acquire Novartis (NVS) Animal Health for approximately $5.4B in an all-cash transaction that will strengthen and diversify Lilly's own animal health business, Elanco. Upon completion of the acquisition, Elanco will be the second-largest animal health company in terms of global revenue, will solidify its number two ranking in the U.S., and improve its position in Europe and the rest of the world. Lilly will acquire Novartis Animal Health's nine manufacturing sites, six dedicated research and development facilities, a global commercial infrastructure with a portfolio of approximately 600 products, a robust pipeline with more than 40 projects in development, and an experienced team of more than 3,000 employees. Under the terms of the agreement, Lilly will acquire all assets of Novartis Animal Health for a total purchase price of approximately $5.4B, including anticipated tax benefits. Lilly plans to fund this acquisition with approximately $3.4B of cash-on-hand and $2B in debt to be issued. No other financial terms of the transaction are being disclosed. The transaction is expected to close by the end of 1Q15, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, similar requirements outside the U.S., and other customary closing conditions. The transaction is not subject to any financing conditions.
News For LLY;NVS From The Last 14 Days
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September 2, 2015
16:20 EDTNVSHealth Canada approves new indications for PrOmnitrope
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12:22 EDTNVSAmgen denied injunction to block Novartis copy of Neupogen, Reuters reports
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12:15 EDTNVSAmgen denied injunction to block Novartis copy of Neupogen, Bloomberg reports
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05:35 EDTNVSNovartis receives EU approval for Revolade
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September 1, 2015
16:33 EDTNVSAmgen, Novartis enter agreement for Alzheimer's, migraine research
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August 28, 2015
05:32 EDTNVSNovartis renews pledge with WHO to end leprosy
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August 27, 2015
10:32 EDTLLYFDA approvals Synjardy tablets for adults with Type 2 diabetes
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05:20 EDTLLYEli Lilly, Adocia initiate new Phase 1b study of BioChaperone Lispro
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August 25, 2015
17:11 EDTLLYU.S. District Court rules in Eli Lilly's favor on Alimta vitamin regimen patent
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15:02 EDTNVSMylan says USPTO institutes IPR of two Copaxone patents
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August 24, 2015
13:15 EDTNVSFDA expands use of Novartis' Promacta to include children ages 1 and older
Ligand Pharmaceuticals (LGND) announced that the FDA has approved an expanded use for Promacta, a Novartis (NVS) product, to include children 1 year of age and older with chronic immune thrombocytopenia who have had an insufficient response to corticosteroids, immunoglobulins or splenectomy. Promacta was acquired by Novartis in March from GlaxoSmithKline (GSK). Promacta was discovered as a result of research collaboration between GSK and Ligand Pharmaceuticals and was developed by GSK. The updated label also includes a new oral suspension formulation of Promacta that is designed for younger children who may not be able to swallow tablets. Promacta was approved by the FDA as a tablet formulation in June 2015 for children 6 years of age and older and in 2008 for use in adult patients with the same condition. The label expansion of Promacta was based on data from two double-blind, placebo-controlled trials, including the largest Phase 3 clinical trial in this patient population. Treatment with Promacta significantly increased and sustained platelet counts among pediatric patients with chronic ITP with an insufficient response to prior chronic ITP therapies, and some patients taking concomitant ITP medications were able to reduce or discontinue their use of these medications, primarily corticosteroids. Promacta should be used only in those whose degree of thrombocytopenia and clinical condition increase the risk for bleeding.
12:11 EDTNVSNovartis announces FDA approves expanded use for Promacta
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August 21, 2015
05:25 EDTNVSNovartis acquires all remaining rights to Ofatumumab from GSK
Novartis (NVS) announced that it has entered into an agreement to acquire all remaining rights to Ofatumumab from GlaxoSmithKline (GSK). Ofatumumab, a fully human monoclonal antibody which targets CD20, is being developed for relapsing remitting multiple sclerosis, or RRMS, and other autoimmune indications. Novartis previously acquired the rights to Ofatumumab for oncology indications and it is marketed under the brand name Arzerra. Novartis will be responsible for the worldwide development, regulatory and commercialization activities for Ofatumumab. Under the terms of the agreement, Novartis will make an initial upfront payment of $300M to GSK for the acquisition of the compound and a further payment of $200M payable following the start of a phase III study in MS by Novartis. Upon completion of pre-determined milestones, contingent payments of up to $534M may be made. Novartis will also pay royalties of up to 12% to GSK on any future net sales of Ofatumumab in autoimmune conditions.
August 20, 2015
13:26 EDTLLYOn The Fly: Top stock stories at midday
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11:33 EDTLLYLeerink major pharmaceuticals analyst holds an analyst/industry conference call
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07:37 EDTLLYEli Lilly's Jardiance for diabetes meets primary endpoint in clinical trial
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05:29 EDTNVSNovartis Odomzo gains EU approval for laBCC
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