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Stock Market & Financial Investment News

News Breaks
August 7, 2014
16:15 EDTMSLIMerus Labs subsidiary to acquire branded prescription medicine product
Merus Labs International announced that one of its wholly owned subsidiaries has signed a letter of intent to acquire the rights to manufacture, market, and sell a branded prescription medicine product in certain European countries. The product is being divested by a large multinational pharmaceutical company. In FY13, the product had net sales of approximately $28M in the applicable European territories. "We are pleased to sign this letter of intent as the addition of this product will substantially increase the revenues and associated EBITDA of the company, as well as, bring further scale and diversity to our existing product portfolio." said Elie Farah, president and CEO of Merus Labs International. The letter of intent is non-binding except that, in conjunction with its execution the company has paid $2M as an exclusivity payment and has the right to extend the exclusivity by making an additional payment of $1M. The transaction is expected to close on or before September 30.
News For MSLI From The Last 14 Days
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February 5, 2016
12:55 EDTMSLIMerus Labs management to meet with Canaccord
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February 2, 2016
10:01 EDTMSLIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Agnico Eagle (AEM) downgraded to Hold from Buy at Desjardins... Alere (ALR) downgraded to Hold from Buy at Canaccord... Antero Resources (AR) downgraded to Reduce from Neutral at SunTrust... Carbylan (CBYL) downgraded to Market Perform from Outperform at Leerink... Copa Holdings (CPA) downgraded to Hold from Buy at Deutsche Bank... Dominion (D) downgraded to Neutral from Buy at Citi... Duke Energy (DUK) downgraded to Market Perform from Outperform at Wells Fargo... Hain Celestial (HAIN) downgraded to Neutral from Overweight at Piper Jaffray... Integrated Device (IDTI) downgraded to Neutral from Buy at BofA/Merrill... Logitech (LOGI) downgraded to Underweight from Equal Weight at Morgan Stanley... Merus Labs (MSLI) downgraded to Sector Perform from Outperform at Scotiabank... New Gold (NGD) downgraded to Sell from Buy at Desjardins... Nokia (NOK) downgraded to Underperform from Buy at CLSA... Plantronics (PLT) downgraded to Underperform from Outperform at Raymond James... Pool Corp. (POOL) downgraded to Equal Weight from Overweight at Stephens... Praxair (PX) downgraded to Sector Weight from Overweight at KeyBanc... Rofin-Sinar (RSTI) downgraded to Neutral from Buy at Longbow... Southwestern Energy (SWN) downgraded to Neutral from Overweight at JPMorgan... Stifel cuts Twitter (TWTR) to Sell after noting Yahoo has significantly more users... Superior Energy (SPN) downgraded to In-Line from Outperform at Imperial Capital... Sysco (SYY) downgraded to Underweight from Equal Weight at Morgan Stanley... Telenor (TELNY) downgraded to Underperform from Neutral at Credit Suisse... Twitter (TWTR) downgraded to Sell from Hold at Stifel... Valeo (VLEEY) downgraded to Underweight from Equal Weight at Morgan Stanley.
07:57 EDTMSLIMerus Labs downgraded to Sector Perform from Outperform at Scotiabank
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February 1, 2016
14:56 EDTMSLIMerus Labs now sees FY16 adjusted EBITDA of $43M-$46M
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14:55 EDTMSLIMerus Labs agrees to acquire three cardiovascular products
Merus Labs International announced that it has entered into an agreement with UCB to acquire rights to Elantan, Isoket and Deponit in Europe and select other markets. Merus has agreed to acquire product rights for a one-time payment of EUR 92M, or 2.7 times last 12 months net revenue of approximately EUR 34M. At current exchange rates, the products are expected to generate approximately $22M in annual EBITDA. On an annualized basis, the new products are expected to increase our existing products adjusted EBITDA by approximately 70%. The acquisition will be funded with cash-on-hand and a new Euro-denominated five year term debt facility at an interest rate of 4.5 percent per annum, decreasing as the company de-leverages. All conditions to closing under the purchase agreement, other than payment of the purchase price have been satisfied, and payment of the purchase price and closing are anticipated to be completed during the next five business days.
14:21 EDTMSLIMerus Labs trading halted, pending news
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