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Stock Market & Financial Investment News

News Breaks
March 13, 2014
12:14 EDTHSP, MMSIMerit Medical recalls kits containing previously recalled Hospira product
Merit Medical Systems (MMSI) recalled Custom Procedural Trays/Kits manufactured from April 29, 2013 through August 20, 2013 due to the fact they contained Hospira (HSP) supplied 1% Lidocaine HCl, according to a posting to the FDA's website. The recall notice points out that Hospira previously announced on December 23, 2013 that it had initiated a voluntary nationwide recall to the user level for one lot of Lidocaine HCl Injection due to a reddish orange particulate on the inner surface and floating in the solution. Reference Link
News For MMSI;HSP From The Last 14 Days
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December 11, 2014
07:13 EDTHSPDanone to discuss whether to keep or sell medical nutrition unit, Reuters says
According to a source, Danone (DANOY) will hold a board meeting today to discuss whether to keep or sell its medical nutrition business, Reuters reports. Previous reports said Danone's board would decide whether to sell the unit to Hospira (HSP) or Fresenius (FMS), with Fresenius as the possible front-runner to enter exclusive talks. Reference Link
December 10, 2014
09:33 EDTMMSIMerit Medical announces multiple regulatory approvals
Merit Medical announced that it has received 501k clearance for three products: the ReSolve Biliary Locking Drainage Catheter, the ONE Snare Endovascular Microsnare System and the AEROmini Tracheobronchial Stent System.
December 9, 2014
13:08 EDTHSPMerck may have paid $2B-$3B too much for Cubist, analyst says
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08:23 EDTHSPMerck has 'no way out' of Cubist deal after court decision, says Leerink
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08:12 EDTHSPMerck still sees Cubist acquisition neutral to modestly accretive to 2015 EPS
Merck (MRK) issued the following statement regarding the decision of the U.S. District Court for the District of Delaware. The decision, which upheld the patent for CUBICIN that expires on June 15, 2016 and invalidated four others, is subject to appeal. The company continues to believe the acquisition of Cubist (CBST) will create strong fundamental value for Merckís shareholders. The combined strength of both companies will provide both incremental and long-term value, and Merck expects the transaction to add more than $1B of revenue to its 2015 base, with strong growth potential thereafter. The courtís decision does not change Merckís expectation that the transaction will be neutral to modestly accretive to 2015 non-GAAP EPS. The company also continues to expect that the transaction will contribute mid-single digit accretion on a percentage basis to non-GAAP EPS in 2016, and will continue to be accretive thereafter.
December 8, 2014
19:00 EDTHSPCubist CEO says Cubicin patent ruling will not affect Merck transaction
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18:24 EDTHSPOn The Fly: After Hours Movers
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18:00 EDTHSPCubist loses bid to stop Hospira's generic Cubicin after 2016, Bloomberg says
Cubist's (CBST) patent for Cubicin that expires in June 2016 upheld by judge, Bloomberg added. Note that this morning Merck (MRK) and Cubist Pharmaceuticals announced that the companies have entered into a definitive agreement under which Merck will acquire Cubist for $102 per share in cash.
17:54 EDTHSPFour Cubist Cubicin patents invalidated as Hospira wins ruling, Bloomberg says
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17:30 EDTHSPMerck shares lower after reports of judge decision in Cubist/Hospira case
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17:03 EDTHSPJudge may have found in favor of Hospira in Cubist case,CNBC's Meg Tirrell says
CNBC's Meg Tirrell said in a tweet: "Whoa. $CBST Hospira decision out -- "appears judge may have found in favor of Hospira on several points," ISI's @MarkSchoenebaum says." Reference Link
08:21 EDTHSPMerck says looked at all risks, including patent litgation, before Cubist deal
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