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Stock Market & Financial Investment News

News Breaks
July 23, 2014
07:09 EDTGSK, MYLMylan wins restraining order against Apotex for generic version of GSK's Paxil
Mylan (MYL) announced that the U.S. District Court for the District of New Jersey granted its motion for a temporary restraining order against Apotex Inc. and Apotex Corporation in litigation relating to Paroxetine CR, the authorized generic of GlaxoSmithKline's (GSK) Paxil CR. The District Court ordered Apotex to immediately discontinue all sales and supply of Paroxetine CR. Mylan previously obtained an order enjoining GlaxoSmithKline from supplying Paroxetine CR to Apotex. Mylan has an exclusive license to an Orange Book patent pertaining to Paxil CR which expires in July 2016.
News For MYL;GSK From The Last 14 Days
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June 30, 2015
08:27 EDTMYLPerrigo deal for Roxane would make Mylan fight harder, says Citi
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June 26, 2015
10:38 EDTGSKCourt revives lawsuit over GlaxoSmithKline Lamictal drug, Bloomberg reports
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June 25, 2015
14:01 EDTGSKGlaxoSmithKline initiated with a Buy at HSBC
Price target GBP 17.
12:52 EDTMYLEU to decide by July 29 on Mylan's bid for Perrigo, Reuters reports
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June 24, 2015
13:37 EDTGSKGSK says CDC committee votedfor meningococcal group B vaccines
GlaxoSmithKline (GSK) announced that the U.S. Centers for Disease Control Advisory Committee on Immunization Practices voted for a Category B recommendation for meningococcal group B vaccination, including Bexsero, in individuals aged 16 to 23. Bexsero was approved by the FDA in January for use in individuals aged 10 through 25 years and acquired by GSK in March following the closure of the three-part transaction with Novartis (NVS).
June 23, 2015
14:16 EDTMYLBMO Capital sees strong fundamentals in Perrigo regardless of Mylan deal
Shares of Perrigo (PRGO) are trading higher intraday after BMO Capital Markets initiated coverage of the stock with an Outperform rating. The research firm is bullish on the shares regardless of whether Mylan's bid for the company succeeds, saying Perrigo is well-positioned to ride momentum in reduced-price healthcare. WHAT'S NEW: BMO Capital Markets' David Maris initiated coverage of Perrigo with an Outperform rating and a $246 price target. Maris cited the company's 70%-plus market share in store- and private-label brands, as well as its roughly $1B annual sales in the generics space. The analyst believes Perrigo will see continued benefit from larger trends driving consumer-centric healthcare and the curtailing of medical costs. WHAT'S NOTABLE: BMO Capital Markets noted that two upcoming Tysabri-related events are not accounted for by the Street, giving rise to a "significant" undervaluing of the shares. Mylan (MYL) has submitted multiple unsolicited offers for Perrigo, and while the likelihood of the deal seems low given Perrigo's numerous rejections and Teva's (TEVA) 4.61% blocking stake in Mylan. BMO Capital remarked that a failed deal should see "limited downside" for Perrigo. There could certainly be near-term volatility if a Mylan agreement doesn't materialize, but the analyst was confident in the well-positioned company's ability to deliver on both earnings per share and cash flow. PRICE ACTION: Shares of Perrigo are up nearly 2% in afternoon trading. The company saw a nearly 25% leap following Mylan's initial offer on April 8, though it has since dipped from that high.
08:49 EDTMYLMylan CFO to meet with Tel Aviv bourse head Wednesday, Reuters says
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07:25 EDTGSKPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
06:01 EDTMYLPerrigo initiated with an Outperform at BMO Capital
BMO Capital analyst David Maris started Perrigo (PRGO) with an Outperform rating and $246 price target. Maris calls shares "significantly undervalued" on a fundamental basis and sees limited downside risk should Mylan (MYL) remove its unsolicited bid for the company.
June 22, 2015
07:01 EDTGSKPfizer to acquire Nimenrix, Mencevax from GlaxoSmithKline for $130M
Pfizer (PFE) announced that it has entered into an agreement with GlaxoSmithKline (GSK) to acquire its quadrivalent meningitis ACWY vaccines, Nimenrix and Mencevax, for a total consideration of approximately $130M. This transaction will add two high-quality and complementary vaccines to Pfizer’s portfolio, allowing the company to reach a broader global population. Nimenrix is a single dose meningococcal ACWY-TT conjugated vaccine designed to protect against Neisseria meningitidis, an uncommon but highly contagious disease that can lead to disability and death. Mencevax is a single-dose meningococcal ACWY unconjugated polysaccharide vaccine used to control outbreaks of meningococcal infection and for travelers to countries where the disease is endemic or highly epidemic. Pfizer does not expect this transaction to have any significant impact on its 2015 financial performance. The transaction is subject to customary closing conditions as well as regulatory approvals in several markets, and is expected to occur in the second half of 2015. Pfizer’s legal advisors for the transaction were Ropes & Gray and Clifford Chance.
June 21, 2015
19:53 EDTMYLMylan CEO says Teva's 4.61% stake may be 'illegal,' Bloomberg reports
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June 19, 2015
08:30 EDTMYLTeva completes purchase of 4.61% interest in Mylan
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05:47 EDTMYLStocks with implied volatility movement; MYLCMG
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June 18, 2015
15:41 EDTMYLTeva tender offer for Mylan likely imminent, says Citi
Citi said Teva (TEVA) is likely to build up a 4.6% stake in Mylan (MYL) by today and that a formal tender offer is likely coming soon. An official bid could come with a provision requiring board changes and a tender will likely trigger a "poison pill" by Mylan, the firm added. Citi has a Buy rating and $70 price target on Teva shares.
13:08 EDTGSKGlaxoSmithKline management to meet with Piper Jaffray
Meeting to be held in Minneapolis on June 23 hosted by Piper Jaffray.
11:57 EDTMYLMylan comments on ruling by appeals court on Copaxone patent
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11:54 EDTMYLAppeals court invalidates Teva patent claim related to Copaxone
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10:01 EDTMYLOn The Fly: Analyst Initiation Summary
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07:46 EDTMYLMylan initiated with a Buy at BTIG
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06:09 EDTMYLTeva raises stake in Mylan to 4.3%, Globes reports
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