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January 31, 2014
05:08 EDTMYL, GILDMylan named as Gilead exclusive branded medicines partner for India
Mylan (MYL) announced that its India-based subsidiary Mylan Pharmaceuticals Private Limited has been named Gilead Sciences (GILD) exclusive branded medicines business partner for India. Under the agreement, Mylan will market and distribute in India Gilead's: HIV therapies Viread, Truvada, and the newer single tablet regimen Stribild. AmBisome, a treatment for life-threatening, systemic fungal infections, which is also used to treat the parasitic disease visceral leishmaniasis. Viread for its indication as a treatment for chronic hepatitis B virus infection. Gilead has partnered with Mylan since 2006, granting the company rights to manufacture and sell their own generic versions of licensed Gilead HIV therapies in India and up to 111 developing world countries where the HIV epidemic affects millions of individuals. Mylan will continue to maintain these rights, in addition to those in this new agreement.
News For MYL;GILD From The Last 14 Days
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August 15, 2014
06:12 EDTGILDGilead announced favorable ruling in arbitration against Roche
Gilead (GILD) announced that an arbitration panel determined that Roche (RHHBY) failed to establish any of their claims and ruled in favor of Gilead. As a result, Roche is not entitled to any damages or other relief. In March 2013, Roche initiated an arbitration against Gilead and Pharmasset, predecessor to Gilead Pharmasset, regarding a 2004 collaboration agreement between Roche and Pharmasset. In the arbitration demand, Roche asserted that it had an exclusive license to sofosbuvir pursuant to the collaboration agreement because sofosbuvir, a prodrug of a uridine monophosphate analog, is allegedly a prodrug of PSI-6130, a cytidine analog. Roche further claimed that, because it had exclusive rights to sofosbuvir, it also had an exclusive license to a patent covering sofosbuvir, and that we infringed that patent by selling and offering for sale products containing sofosbuvir.
August 14, 2014
16:01 EDTGILDOptions Update; August 14, 2014
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August 13, 2014
09:37 EDTGILDActive equity options trading on open
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August 11, 2014
09:36 EDTGILDActive equity options trading on open
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07:36 EDTMYLMylan launches generic Xeloda tablets
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07:29 EDTGILDGilead price target raised to $110 from $90 at Argus
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August 8, 2014
17:10 EDTMYLMarket finishes week up slightly as earnings offset by political events
Stocks finished the week fractionally higher than where they started as strong corporate earnings reports and better than expected economic data was weighed against concerns about geopolitical issues and negative M&A news. MACRO NEWS: A few ongoing geopolitical conflicts worried investors and weighed on shares. Russia unveiled sanctions against Western countries, banning the import of a wide range of food items from the U.S, the EU and a few allied countries in response to sanctions recently enacted against it from G7 nations... President Obama authorized the bombing of rebels in Iraq and Hamas and Israel failed to reach a permanent truce... An ISM services index, the U.S. trade deficit for June, and weekly jobless claims were all better than expected. Meanwhile, the increase in unit labor costs last quarter came in below the consensus outlook, perhaps easing fears that the Fed will need to raise interest rates sooner than expected. COMPANY NEWS: On the M&A front, two huge potential deals fell through as 21st Century Fox (FOX, FOXA) withdrew its offer to acquire Time Warner (TWX) and Sprint (S) reportedly decided to end its pursuit of a merger with peer T-Mobile (TMUS)... President Obama indicated that his administration would take unilateral steps in an effort to prevent companies from carrying out tax inversion acquisitions. Among the deals or possible transactions that involve inversion are Medtronic's (MDT) acquisition of Covidien (COV), Valeant's (VRX) proposed takeover of Allergan (AGN) and Mylan's (MYL) acquisition of Abbott's (ABT) developed markets branded generics pharmaceuticals business. Meanwhile, Walgreen's (WAG) stock tumbled after the U.S. company said it would not structure its takeover of European drugstore chain Alliance Boots as a tax inversion deal... 21st Century Fox, 3D printer maker Stratasys (SSYS), chip maker NVIDIA (NVDA), brewer Molson Coors (TAP), and luxury accessories maker Coach (COH) all rose following their earnings reports. Conversely, Target (TGT), luxury accessories maker Michael Kors (KORS) and Internet coupon provider Groupon (GRPN) fell following their results or guidance... Gannett (GCI) struck a deal to acquire the remaining 73% interest in Classified Ventures, whose primary asset is the online car shopping website Cars.com, for $1.8B from the other partners in the venture, which include McClatchy (MNI), Tribune Media (TRBAA), Graham Holdings (GHC) and A. H. Belo (AHC). Gannett also announced plans to spin-off its Publishing business, which includes USA Today, through a tax-free distribution to shareholders... McDonald's (MCD) stock was little changed after the company reported that its comparable store sales fell 2.5% in July, which was significantly worse than expected. Food quality issues weighed on the fast food company's sales in Asia and as a result of the China supplier issue, the company warned its previously issued global comparable sales forecast for 2014 is now at risk. INDEXES: The Dow finished the week up 0.35% to 16,553.93, the S&P 500 rose 0.32% to 1,931.59, and the Nasdaq gained 0.41% to 4,370.90.
12:34 EDTMYLOn The Fly: Midday Wrap
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10:00 EDTMYLOn The Fly: Analyst Downgrade Summary
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07:01 EDTMYLHarvard professor says Treasury can reduce inversion incentives, NY Times says
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06:30 EDTMYLMylan downgraded to Sector Perform from Outperform at RBC Capital
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August 7, 2014
10:29 EDTMYLMylan: Noise about inversion is tremendous speculation and that's all it is
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10:23 EDTMYLMylan sees FY14 CapEx $350M-$400M
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10:20 EDTMYLMylan sees FY14 adjusted EBITDA $2.2B-$2.4B
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10:20 EDTMYLMylan says litigation ins ongoing in India regarding Teva
Mylan (MYL) said that it expects Teva's (TEVA) efforts to seek an injunction will "as ineffective as it was in U.S. courts." The company said it will not provide further comment on the matter. Mylan said it will also postpone its 2014 Investor Day due to the ongoing nature of the Abbott (ABT) transaction. It expects its fully realized savings and profit from new products will not be realized till 2015. Comments taken from Q2 earnings conference call.
09:36 EDTGILDActive equity options trading on open
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06:42 EDTMYLObama to look to limit inversion deals, Politico says
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06:37 EDTMYLMylan narrows FY14 adjusted EPS view to $3.25-$3.45 from $3.25-$3.60
Consensus $3.37. Narrows FY14 revenue guidance to $7.8B-$8B from $7.8B-$8.2B, consensus $7.77B.
06:36 EDTMYLMylan sees Q3 EPS 90c-95c, consensus $1.03
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06:34 EDTMYLMylan reports Q2 adjusted EPS 69c, consensus 70c
Reports Q2 revenue $1.84B, consensus $1.88B.
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