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Stock Market & Financial Investment News

News Breaks
December 11, 2012
07:54 EDTTEVA, NPSP, CELG, AZN, ACOR, PFE, ALKS, PRXL, MEDIElsevier 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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June 24, 2015
07:26 EDTPRXLPAREXEL price target raised to $82 from $72 at UBS
UBS raised its price target on PAREXEL to $82 from $72 following the company's updated guidance. The firm sees gains from cost cutting, margin expansion and the growth of strategic partners. UBS reiterated its Buy rating on PAREXEL shares.
07:09 EDTACORAcorda says oral levodopa reduces duration of OFF episodes in PD patients
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06:50 EDTAZNAstraZeneca loses top executive Ward-Lilley to Vectura, Reuters reports
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05:51 EDTALKSAlkermes physician call on ALKS 3831 encouraging, says UBS
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June 23, 2015
16:18 EDTPRXLPAREXEL maintains mid-point of prior FY15 EPS guidance at $2.74
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16:17 EDTPRXLPAREXEL to record $35M-$45M charge from restructuring
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16:13 EDTPRXLPAREXEL sees double digit growth in EPS for 2016
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16:11 EDTPRXLPAREXEL sees FY16 EPS $3.02-$3.38, consensus $3.24
Sees FY16 revenue $2.16B-$2.21B, consensus $2.2B.
16:10 EDTPRXLPAREXEL narrows FY15 EPS view to $2.70-$2.78 from $2.65-$2.83, consensus $2.75
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16:06 EDTPRXLPAREXEL sees Q4 EPS 70c-78c, consensus 75c
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14:17 EDTPFEGlycoMimetics to receive $20M payment from Pfizer
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14:16 EDTTEVABMO Capital sees strong fundamentals in Perrigo regardless of Mylan deal
Shares of Perrigo (PRGO) are trading higher intraday after BMO Capital Markets initiated coverage of the stock with an Outperform rating. The research firm is bullish on the shares regardless of whether Mylan's bid for the company succeeds, saying Perrigo is well-positioned to ride momentum in reduced-price healthcare. WHAT'S NEW: BMO Capital Markets' David Maris initiated coverage of Perrigo with an Outperform rating and a $246 price target. Maris cited the company's 70%-plus market share in store- and private-label brands, as well as its roughly $1B annual sales in the generics space. The analyst believes Perrigo will see continued benefit from larger trends driving consumer-centric healthcare and the curtailing of medical costs. WHAT'S NOTABLE: BMO Capital Markets noted that two upcoming Tysabri-related events are not accounted for by the Street, giving rise to a "significant" undervaluing of the shares. Mylan (MYL) has submitted multiple unsolicited offers for Perrigo, and while the likelihood of the deal seems low given Perrigo's numerous rejections and Teva's (TEVA) 4.61% blocking stake in Mylan. BMO Capital remarked that a failed deal should see "limited downside" for Perrigo. There could certainly be near-term volatility if a Mylan agreement doesn't materialize, but the analyst was confident in the well-positioned company's ability to deliver on both earnings per share and cash flow. PRICE ACTION: Shares of Perrigo are up nearly 2% in afternoon trading. The company saw a nearly 25% leap following Mylan's initial offer on April 8, though it has since dipped from that high.
14:01 EDTPFEPfizer announces enrollment of first patient in RESET study
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09:53 EDTPFEPfizer management to meet with FBN Securities
Meeting to be held in New York on June 25 hosted by FBN Securities.
08:49 EDTTEVAMylan CFO to meet with Tel Aviv bourse head Wednesday, Reuters says
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07:31 EDTAZNBIND Therapeutics announces FDA authorization of clinical trial with AZD2811
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07:25 EDTPFEPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
June 22, 2015
08:52 EDTPFEPortola, Bristol-Myers, and Pfizer announce results from Phase 3 ANNEXA study
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07:01 EDTPFEPfizer to acquire Nimenrix, Mencevax from GlaxoSmithKline for $130M
Pfizer (PFE) announced that it has entered into an agreement with GlaxoSmithKline (GSK) to acquire its quadrivalent meningitis ACWY vaccines, Nimenrix and Mencevax, for a total consideration of approximately $130M. This transaction will add two high-quality and complementary vaccines to Pfizer’s portfolio, allowing the company to reach a broader global population. Nimenrix is a single dose meningococcal ACWY-TT conjugated vaccine designed to protect against Neisseria meningitidis, an uncommon but highly contagious disease that can lead to disability and death. Mencevax is a single-dose meningococcal ACWY unconjugated polysaccharide vaccine used to control outbreaks of meningococcal infection and for travelers to countries where the disease is endemic or highly epidemic. Pfizer does not expect this transaction to have any significant impact on its 2015 financial performance. The transaction is subject to customary closing conditions as well as regulatory approvals in several markets, and is expected to occur in the second half of 2015. Pfizer’s legal advisors for the transaction were Ropes & Gray and Clifford Chance.
June 21, 2015
19:53 EDTTEVAMylan CEO says Teva's 4.61% stake may be 'illegal,' Bloomberg reports
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