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Stock Market & Financial Investment News

News Breaks
June 20, 2014
07:31 EDTMRK, IDIXMerck begins tender offer to acquire Idenix
Merck (MRK) is commencing, through a subsidiary, a cash tender offer to purchase all outstanding shares of common stock of Idenix Pharmaceuticals (IDIX). On June 9, Merck announced its intent to acquire Idenix. Upon the successful closing of the tender offer, stockholders of Idenix will receive $24.50 in cash for each share of Idenix common stock validly tendered and not validly withdrawn in the offer, without interest and less any required withholding taxes. Following the purchase of shares in the tender offer, Idenix will become a wholly-owned subsidiary of Merck. Merck will file today with the U.S. SEC a tender offer statement on Schedule TO, which provides the terms of the tender offer. Additionally, Idenix will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 that includes the recommendation of the Idenix board of directors that Idenix stockholders accept the tender offer and tender their shares. As previously communicated, the Idenix board of directors has determined that the merger agreement and its related transactions, including the tender offer, are advisable, fair to and in the best interests of Idenix and its stockholders. The tender offer will expire at 5:00 pm EDT on Monday, August 4, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC.
News For MRK;IDIX From The Last 14 Days
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September 18, 2014
08:48 EDTMRKNeogen's dairy genomic program to be marketed by Merck
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September 17, 2014
09:33 EDTMRKMerck announced positive results from Phase 3 data for omarigliptin
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08:31 EDTMRKMerck, Sun Pharma enter into licensing agreement for Tildrakizumab
Merck and Sun Pharmaceutical Industries, through their respective subsidiaries,announced an exclusive worldwide licensing agreement for Merck’s investigational therapeutic antibody candidate, tildrakizumab, which is currently being evaluated in Phase 3 registration trials for the treatment of chronic plaque psoriasis, a skin ailment. Under terms of the agreement, Sun Pharma will acquire worldwide rights to tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of $80M. Merck will continue all clinical development and regulatory activities, which will be funded by Sun Pharma. Upon product approval, Sun Pharma will be responsible for regulatory activities, including subsequent submissions, pharmacovigilance, post approval studies, manufacturing and commercialization of the approved product. Merck is eligible to receive undisclosed payments associated with regulatory and sales milestones, as well as tiered royalties ranging from mid-single digit through teen percentage rates on sales. The transaction is subject to customary closing conditions, including the requirements under the Hart Scott-Rodino Antitrust Improvements Act.
September 16, 2014
07:31 EDTMRKEuropean Association for Study of Diabetes to hold annual meeting
50th Annual Meeting of EASD to be held in Vienna, Austria on September 15-19.
07:25 EDTMRKMerck price target raised to $72 from $62 at SunTrust
After meeting with Merck's CEO and head of clinical development, SunTrust increased its price target on the company as the firm thinks that it is ideally positioned across five of the fastest growing therapeutic classes. The firm believes that the company's EPS growth rates from 2015-2020 will be three percentage points above Street estimates, while it has a first-mover advantage in oncology. It keeps a Buy rating on the shares.
September 15, 2014
13:30 EDTMRKMerck announces data from pivotal Phase 3 study for odanacatib
Merck announced data from the pivotal Phase 3 fracture outcomes study for odanacatib in postmenopausal women with osteoporosis. Odanacatib is Merck’s investigational once-weekly cathepsin K inhibitor. In the Long-Term Odanacatib Fracture Trial, odanacatib met its primary endpoints and significantly reduced the risk of osteoporotic hip, spine and non-vertebral fractures compared with placebo. The rates of adverse events overall in LOFT were generally balanced between patients taking odanacatib and placebo. Adjudicated events of morphea-like skin lesions and atypical femoral fractures occurred more often in the odanacatib group than in the placebo group. Adjudicated major adverse cardiovascular events were generally balanced overall between the treatment groups. There were numerically more adjudicated stroke events with odanacatib than with placebo.
September 10, 2014
16:00 EDTMRKOptions Update; September 10, 2014
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September 8, 2014
16:00 EDTMRKOptions Update; September 8, 2014
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September 5, 2014
16:45 EDTMRKMarket ends week little changed after mixed economic data
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11:17 EDTMRKBristol-Myers files patent infringement suit against Merck
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08:39 EDTMRKMerck Keytruda sales to reach $5B in 2018, says BMO Capital
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