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Stock Market & Financial Investment News

News For MRK;PFE;GSK;JNJ;BMY;NVS;SHPG;ABT;CELG;SNY From The Last 14 Days
Check below for free stories on MRK;PFE;GSK;JNJ;BMY;NVS;SHPG;ABT;CELG;SNY the last two weeks.
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April 23, 2014
07:24 EDTGSKGlaxoSmithKline upgraded to Buy from Hold at Argus
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07:00 EDTSHPG, NVS, PFETerrapinn to hold a conference
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06:54 EDTPFE, GSK, MRK, SNYCambridge Healthtech Institute to hold a conference
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06:54 EDTPFE, SNY, MRK, JNJGlobal Technology Community to hold a summit
7th Annual Diabetes Summit is being held in Cambridge, MA on April 23-25.
06:53 EDTSNY, PFE, JNJFood & Drug Law Institute to hold a conference
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06:16 EDTPFE, BMY, NVS, JNJ, GSK, MRK, SNYPharmaceutical companies narrowing focus, WSJ reports
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05:25 EDTNVSNovartis announces new data confirms efficacy of Gilenya
New analyses of pooled data from the FREEDOMS and FREEDOMS II trials will be presented at the 66th American Academy of Neurology, or AAN, Annual Meeting in Philadelphia, Pennsylvania, and will show the consistent efficacy of Gilenya on four key measures of multiple sclerosis disease activity - reducing relapses, new MRI lesion counts, brain volume loss and disability progression. Demonstrating benefit on these four measures is important in order to improve the course of MS and ultimately address the loss of function experienced by patients with MS. An additional analysis of FREEDOMS and FREEDOMS II will show that significantly more Gilenya-treated patients had brain volume loss rates comparable to people without MS. Given that brain volume loss, measured by MRI, starts early in the disease course and is correlated with long-term disability, a treatment benefit on this measure will be important for patients with MS.
April 22, 2014
19:03 EDTBMY Bristol-Myers and Samsung BioLogics to increase scope of existing agreement
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16:33 EDTNVS, GSKOn The Fly: Closing Wrap
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14:47 EDTBMYOnglyza, Kombiglyze XR get Paragraph IV patent challenges
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12:39 EDTJNJ, MRK, NVS, GSK, SHPGOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday amid a number of big deals and a much talked about proposed deal in the pharmaceutical industry, as well as another wave of earnings reports. The market opened quietly but on the positive side of the ledger as investors pored over the multitude of quarterly reports issued after the close last night and earlier today. Near noon the market stood near its session highs and is pointing toward its sixth consecutive positive close. ECONOMIC EVENTS: In the U.S., existing home sales slipped 0.2% to a 4.59M rate in March, versus expectation for them to have fallen 1% to a 4.56M rate. The Richmond Fed manufacturing survey for April had a reading of 7, beating the consensus forecast for a reading of 2. COMPANY NEWS: Valeant Pharmaceuticals (VRX) teamed with Bill Ackman's hedge fund Pershing Square to make a hostile takeover offer for Allergan (AGN), sending shares of both companies higher. Allergan confirmed it received the offer of $48.30 in cash and 0.83 shares of Valeant stock for each of its own shares, which it said it will evaluate with the help of its advisers. Analysts' opinion on the fallout varied, with one firm suggesting Allergan could pursue its own takeover of Shire (SHPG) or Jazz Pharmaceuticals (JAZZ) as a defense, and another saying a rival big pharma company, such as Johnson & Johnson (JNJ) or Merck (MRK), could launch a competing bid for Allergan. Shares of Allergan led all gainers on the S&P 500, rising 16%, while Valeant shares gained more than 6%... A number of other big drug makers made news with a string of deals, as Novartis (NVS) and GlaxoSmithKline (GSK) both reshaped their companies via a trio of agreements. Novartis will acquire GSK's oncology products for a $14.5B payment and up to $1.5B contingent future payments, Novartis will sells its Vaccines business, excluding flu, to GSK for $7.1B plus royalties, and the two agreed to tie-up their consumer healthcare businesses through a joint venture. In a separate transaction, Novartis agreed to divest its Animal Health Division to Eli Lilly (LLY) for about $5.4B. MAJOR MOVERS: Among the notable gainers following their earnings reports were streaming video service Netflix (NFLX), which advanced almost 6%, and motorcycle maker Harley-Davidson (HOG), which rose 8%. Companies that slid following their earnings reports included printer maker Lexmark (LXK), which fell over 11%, and Pentair (PNR), which dropped almost 6%. INDEXES: Near midday, the Dow was up 106.77, or 0.65%, to 16,556.02, the Nasdaq was up 45.95, or 1.11%, to 4,167.50, and the S&P 500 was up 11.59, or 0.62%, to 1,883.48.
11:22 EDTJNJ, MRK, SHPGAnalysts think Valeant bid for Allergan could spur higher offer, rival deal
After Valeant Pharmaceuticals (VRX) teamed with hedge fund Pershing Square to make a hostile takeover offer for Allergan (AGN), analysts' opinion on the fallout varied, with one firm suggesting Allergan could pursue its own takeover as a defense and another believing Valeant will be pushed to raise its offer. WHAT'S NEW: Valeant, in partnership with Bill Ackman's Pershing Square, offered to combine with Allergan for $48.30 in cash and 0.83 shares of Valeant stock for each share of Allergan. Allergan has confirmed it received the offer and said that it would evaluate the proposal. ANALYST OPINION: In a note to investors, Wells Fargo stated that it believes that Valeant's low tax rate will enable it to raise its bid. Moreover, one or more big pharmaceutical companies, such as Johnson & Johnson (JNJ) or Merck (MRK), could launch a competing bid for Allergan, added Wells. The firm believes that Allergan could ultimately be purchased for $165 per share. Research firm Jefferies said it expects Allergan's board to oppose Valeant's takeover attempt. The firm suggested that Allergan could seek to fend off Valeant's takeover attempt by acquiring Shire (SHPG) or Jazz Pharmaceuticals (JAZZ). Jefferies kept a Hold rating on Allergan. BMO Capital similarly believes that Valeant will have to overcome significant hurdles in order to complete the deal. The management teams of the two companies have different views and Allergan's business could be damaged by significant cost cutting following the deal, according to the firm. Nonetheless, it kept an Outperform rating on the Botox maker. PRICE ACTION: In mid-morning trading, Allergan rallied 15.5% to $164, Valeant gained 4.4% to $133, Jazz shares rose 6.4% to $147.18 and Shire added 4.8% to $158.62.
10:36 EDTNVSEli Lilly sees Novartis deal as accretive on a cash basis by 2016
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10:00 EDTSHPGOn The Fly: Analyst Initiation Summary
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09:16 EDTGSK, NVSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 8%... Harley-Davidson (HOG), up 7%... PLX Technology (PLXT), up 8%... Illinois Tool (ITW), up 2.3%... Comcast (CMCSA), up 1%... McDonald's (MCD), up 0.6%. ALSO HIGHER: Allergan (AGN), up 17% after Valeant (VRX) confirms proposal to combine with the company for $48.30 and 0.83 shares of stock. Valeant is up 5% following its confirmation of the news that broke last night... GlaxoSmithKline (GSK), up 4.5% after agreeing to sell oncology products for $14.5B to Novartis (NVS) and buy Novartis' Vaccines business, currently excluding its flu business, for $7.1B plus royalties. Novartis shares trading in New York are also up 1% following the deals... Revance Therapeutics (RVNC), up 20% after announcing positive results from RT002 Phase 1/2 study... Facebook (FB), up 2% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Xerox (XRX), down 4%... Lexmark (LXK), down 4.8%. ALSO LOWER: Allison Transmission (ALSN), down 4% after filing to sell 25M shares for holders... FireEye (FEYE), down 2.9% after filing to sell 13.3M shares of common stock for holders... Bebe stores (BEBE), down 16% after reporting preliminary Q3 losses that were steeper than the consensus estimate.
08:49 EDTGSKGSK, Theravance announce Phase III study of FF/VI in Japan
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08:37 EDTGSKTheravance, GlaxoSmithKline receive Australian approval for Breo Ellipta
GlaxoSmithKline (GSK) and Theravance (THRX) announced that the Therapeutic Goods Administration has approved BREO ELLIPTA for the treatment of patients with asthma or chronic obstructive pulmonary disease, or COPD, in Australia. Two strengths of BREO ELLIPTA have been licensed for the treatment of asthma and one strength has been licensed for the treatment of COPD.
08:08 EDTPFEAstraZeneca Pfizer deal is doable, says Bernstein
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08:03 EDTPFEPfizer says OPT Pivotal #1 and #2 programs meet primary endpoints in study
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07:51 EDTSHPGAllergan could fend off Valeant with acquisition, says Jefferies
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