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News Breaks
December 11, 2012
07:54 EDTMEDI, PFE, CELG, PRXL, ACOR, NPSP, ALKS, AZN, TEVAElsevier Business Intelligence to host a summit
The FDA/CMS Summit for Biopharma Executives: Life After 2012 is being held in Washington, D.C. on December 10-11.
News For MEDI;PFE;CELG;PRXL;ACOR;NPSP;ALKS;AZN;TEVA From The Last 14 Days
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April 7, 2014
05:48 EDTAZNMyriad Genetics submits premarket approval to FDA for BRACAnalysis
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April 6, 2014
13:46 EDTPFEPfizer's palbociclib significantly prolonged PFS in metastatic breast cancer
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April 4, 2014
10:45 EDTCELG, TEVAMylan rises despite Meda rejecting takeover offer
Mylan (MYL) shares are higher this morning following a Financial Times report of its desire to buy Swedish rival Meda. Subsequent to the story being published, Meda confirmed it had been in talks with Mylan but rejected the company's takeover offer. WHAT'S NEW: The Financial Times reported that Mylan was considering buying Meda, a Swedish drugmaker, in a deal that would create a $23B+ pharmaceuticals business. Mylan reportedly hired advisers to put a deal together for Meda, and though the value of a deal was not noted, sources said Mylan was likely to pay a "significant" premium to Meda's market value, which was $4.5B at the end of trading on Thursday. Mylan's market value currently stands at $18.5B. A combination of the drugmakers would create a company with annual revenues of around $9B, the FT said, noting that would be half the size of generic drug rival Teva (TEVA). WHAT'S NOTABLE: Meda's board of directors confirmed that it was contacted by Mylan regarding a proposal to merge the companies, but the board decided to reject the proposal. Meda said all discussions between the company and Mylan have been terminated "without further actions." ANALYST REACTION: Citigroup upgraded Mylan to Buy from Neutral and raised its price target on the stock to $61 from $52 this morning. The firm cited potential operational and tax benefits from an acquisition of Meda, stating that in addition to expanding Mylan's geographic presence, the deal would increase its presence in specialty, OTC and branded generics. OTHER NEWS: Mylan sued Celgene (CELG) to block that company's efforts to keep generic versions of Revlimid and Thalomid off the market, Reuters reported. PRICE ACTION: Mylan shares are up $2.98, or 5.98%, to $52.84 in mid-morning trading.
06:49 EDTCELGMylan sues Celgene for blocking Thalomid, Revlimid generics, Reuters says
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April 3, 2014
14:30 EDTTEVAMylan says USPTO rejects Teva '808 patent reissue application on Copaxone
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14:28 EDTTEVAMylan says USPTO rejects Teva '808 patent reissue application on Copaxone
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09:30 EDTPFEApple, Pfizer others create 'go slow' patent lobby group, Reuters says
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08:27 EDTPFELeerink's biotech analyst holds a dinner meeting update
Biotech Analyst Liang holds an update from the AACR's Annual Meeting to discuss some of the presentations including PFE/AMGN's Palbociclib, PBYI/PFE's Neratinib, as well as other new agents for breast cancer from LLY, MDVN and CLDX, in San Diego on April 7 at 9 pm.
06:28 EDTCELGAtopic dermatitis could bring upside to Regeneron, Celgene, says Citigroup
Citigroup believes Regeneron's (REGN) dupilumab and Celgene's (CELG) Otezla for atopic dermatitis are being overlooked by investors and could provide upside for both names. Citi believes both drugs have good efficacy but adds that dupilumab is more advanced. The firm has a Buy rating on both stocks.
05:50 EDTPFEStocks with implied volatility movement; OXY PFE
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April 2, 2014
12:33 EDTCELGOn The Fly: Midday Wrap
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11:55 EDTPFEUniqure rises after Baxter acquires Chatham Therapeutics
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11:48 EDTTEVATeva price target raised to $66 from $57 at Standpoint Research
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10:00 EDTALKSOn The Fly: Analyst Initiation Summary
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09:29 EDTCELGAcceleron anemia programs get vote of confidence, says Piper Jaffray
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09:18 EDTCELGOn The Fly: Pre-market Movers
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09:00 EDTALKS, CELGCelgene to buy 1.1M shares of Acceleron Pharma for $47.15M
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08:31 EDTNPSPSociety of American Gastrointestinal & Endoscopic Surgeons holds annual meeting
2014 Annual Meeting of SAGES is being held in Salt Lake City, Utah on April 2-5.
06:46 EDTALKSAlkermes initiated with an Outperform at Credit Suisse
Target $57.
06:05 EDTALKSAlkermes initiated with an Outperform at Credit Suisse
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