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Stock Market & Financial Investment News

News Breaks
April 8, 2014
07:08 EDTMNK, QCOR, ACT, VRXDrug deals increase to new high, Bloomberg says
M&A activity in the specialty pharmaceuticals industry has reached a new high after Mallinckrodt (MNK) recently bought Questcor (QCOR) for $5.6B, reported Bloomberg. Drugmakers from Actavis (ACT) to Valeant (VRX) are widening their suites of drugs through takeovers that immediately increased earnings with the help of lower corporate tax rates in countries such as Ireland. Reference Link
News For MNK;QCOR;ACT;VRX From The Last 14 Days
Check below for free stories on MNK;QCOR;ACT;VRX the last two weeks.
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July 16, 2014
17:42 EDTVRXPershing Square's Ackman says Allergan's attack on Valeant unprecedented
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16:13 EDTQCOR, MNKMallinckrodt initiated with an Outperform, $100 target at Oppenheimer
Oppenheimer believes Mallinckrodt's (MNK) acquisition of Questcor (QCOR) provides sustainable high-growth revenue potential. It believes the company bought Acthar at an attractive valuation. Opco started shares of Mallinckrodt with an Outperform rating and $100 price target.
16:09 EDTMNKMallinckrodt initiated with an Outperform at Oppenheimer
Target $100.
11:28 EDTACTLeon Cooperman gives 12 stock picks at CNBC conference
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11:16 EDTACTCooperman lists Actavis, Citigroup, KKR among top-picks, CNBC says
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10:36 EDTVRXTreasury calls on Congress to halt inversion deals
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10:35 EDTQCOROptions with decreasing implied volatility
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09:16 EDTVRXPershing Square sends letter to Allergan's board of directors
Pershing Square Capital Management announced it has sent a letter to Allergan's Board of Directors. Pershing Square last Friday filed definitive solicitation materials with the U.S. SEC to seek shareholder support for a special meeting of Allergan shareholders and is now actively soliciting shareholder support to call the meeting. At this special meeting, Allergan shareholders will be able to voice their opinions on a number of critical matters, including the proposed removal of six incumbent members of the Allergan board, the proposed appointment of an independent slate of directors and certain other proposed provisions to improve Allergan’s corporate governance.
09:12 EDTACTLeerink healthcare analyst holds an analyst/industry conference call
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08:16 EDTVRXLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTVRXTreasury Secretary urges Congress to take action on tax inversions
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July 14, 2014
15:09 EDTQCOR, MNKQuestcor rises after S-4 effective, interest from other suitors disclosed
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12:47 EDTVRXAllergan slides question Valeant growth, disclosures, says BMO Capital
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08:13 EDTVRXAllergan reiterates belief that Valeant model unsustainable in new presentation
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08:02 EDTVRXValeant submits HSR filing for proposed acquisition of Allergan
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07:04 EDTMNK, QCORMallinckrodt and Questcor update transaction
Mallinckrodt (MNK) and Questcor (QCOR) announced that the registration statement on Form S-4 filed with the SEC by Mallinckrodt on May 16 and amended on July 11 which includes a joint proxy statement of Mallinckrodt and Questcor that also constitutes a prospectus of Mallinckrodt, was declared effective on July 11. The companies have also each scheduled shareholder meetings on August 14 for shareholders of record on July 9 to consider (i) in the case of Mallinckrodt, its proposal to issue its ordinary shares in connection with its proposed acquisition of Questcor and (ii) in the case of Questcor, approval of the merger agreement with Mallinckrodt and related matters. The transaction is currently expected to be completed in August.
July 11, 2014
16:48 EDTVRXAllergan comments on Pershing Square’s definitive proxy solicitation
Allergan (AGN) provided the following comment in response to the definitive proxy solicitation filed by Pershing Square Capital Management in connection with Pershing Square’s request to call a Special Meeting of Stockholders. At the Special Meeting, if called, Allergan stockholders would be asked to remove a majority of the company’s existing directors in connection with Valeant Pharmaceuticals' (VRX) unsolicited exchange offer to acquire all outstanding common shares of Allergan for 0.83 shares of Valeant common stock and $72.00 in cash, or subject to proration, an amount of cash or a number of Valeant common shares with the implied value set forth in the exchange offer. Under the current Board’s leadership, which includes individuals with significantly more industry experience than Pershing Square’s recommended nominees, Allergan continues to execute on its plan to drive near- and long-term organic growth, enhance its growth prospects and continue generating significant value for all of Allergan’s stockholders. We believe Pershing Square’s attempt to replace a majority of the Allergan Board is a further effort to support Valeant in its bid to acquire Allergan at a grossly inadequate price that substantially undervalues the company and creates significant risks and uncertainties for Allergan stockholders. Valeant has repeatedly failed to address the serious concerns raised by Allergan and important members of the investment community about Valeant’s anemic organic growth driven by unsustainable price increases, among other fundamental business model issues. Allergan has a track record of consistently acting in the best interests of its stockholders and the Board remains confident in the company’s ability to create significantly more value than Valeant’s proposal.
16:31 EDTACTActavis confirms generic Diclegis patent challenge
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09:09 EDTQCOROn The Fly: Pre-market Movers
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06:39 EDTMNK, QCORQuestcor reports Acthar adverse effects data, NY Times says
The number of patients who reported an adverse effect last year while taking Questcor's (QCOR) Acthar drug amounted to almost 5% of prescriptions dispensed, the company stated in a regulatory filing released yesterday, according to The New York Times. The filing marked the first time that the company has disclosed any difficulties experienced by Acthar patients, the newspaper added. Questcor has agreed to be bought by Mallinckrodt (MNK). Reference Link
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