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Stock Market & Financial Investment News

News Breaks
June 2, 2014
07:03 EDTMYL, PFEMylan settles patent litigation related to Celebrex capsules with Pfizer
Mylan (MYL) announced that it has entered into a settlement and license agreement with Pfizer (PFE) relating to Mylan's Abbreviated New Drug Application filed with the FDA for Celecoxib Capsules, 50 mg, 100 mg, 200 mg and 400 mg. This product is the generic version of Celebrex, which is indicated for the relief of the signs and symptoms of osteoarthritis, rheumatoid arthritis, and ankylosing spondylitis, and for the management of acute pain in adults. Under the terms of the agreement, Mylan will begin selling product at the earliest market formation, however in any case not later than December. All other terms and conditions of the settlement and license agreement are confidential, and the agreement itself is subject to review by the U.S. Department of Justice and the Federal Trade Commission. Additionally, Mylan has appealed the decision by the United States District Court for the Northern District of West Virginia denying Mylan's request for an injunction in its suit against the FDA. Mylan continues to believe that FDA seriously erred in its decision awarding one party eligibility for 180 days of exclusivity on Celecoxib, and will continue with this suit independent of the aforementioned settlement.
News For MYL;PFE From The Last 14 Days
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July 27, 2015
07:18 EDTMYLMylan volatility flat into Teva canceling proposal to acquire
Mylan (MYL) July weekly call option implied volatility is at 32, August and September is at 37; compared to its 52-week range of 23 to 53, suggesting non-directional price movement into Teva (TEVA) withdrawing its proposal to acquire and entering a definite agreement to purchase Allergan's (AGN) generics unit.
07:07 EDTMYLMylan downgraded to Market Perform from Outperform at Cowen
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06:46 EDTMYLMylan comments on Teva agreement to acquire Allergan Generic Drug Unit
Mylan N.V. (MYL) issued the following statement regarding Teva's (TEVA) announcement of its entry into an agreement to acquire Allergan's (AGN) Generic Drug Unit and its withdrawal of its unsolicited expression of interest to acquire Mylan. Mylan Executive Chairman Robert Coury stated: "We congratulate Teva on their agreement to acquire Allergan's generics business and welcome their continued, and potentially enhanced, commitment to the generics industry. As Teva continues to move forward with their strategy, Mylan's strategic focus remains unchanged. Mylan's board and leadership team remains steadfast in its commitment to our mission, vision and strategy to provide access to quality medicine to the world's 7B people and deliver value and sustainable growth for our shareholders and other stakeholders. Our offer to acquire Perrigo continues to be the next natural step in this strategy. Combining Mylan and Perrigo will create a unique infrastructure that is able to maximize on evolving industry dynamics and capitalize on key trends. Further, the complementary cultures and strategies of these two businesses will enable us to redefine how healthcare is delivered and position our company for the future."
05:28 EDTMYLTeva withdraws proposal to acquire Mylan
Teva (TEVA) announced that it has withdrawn its cash and stock proposal to acquire all of the outstanding ordinary shares of Mylan (MYL) and Teva does not intend to continue to pursue a transaction with Mylan at this time. Teva’s decision to terminate the proposal to acquire Mylan follows announcement that Teva has entered into a definitive agreement with Allergan (AGN) to acquire Allergan Generics. Teva CEO Erez Vigodman commented, “We continue to believe that a combination of Teva and Mylan would have made sense for our companies, our respective stockholders and the healthcare industry as a whole. However, despite our clear commitment to consummating a transaction, and our conviction that we ultimately would have succeeded in acquiring Mylan, we believe we have an even greater opportunity to create compelling, sustainable value for Teva’s stockholders through our transaction with Allergan – and we acted quickly to seize the opportunity. Our agreement with Allergan will reinforce Teva’s strategy to create an even stronger business model in the industry and will position us well to grow the business and better serve our customers and patients.” Teva intends to review its options with respect to its ownership of approximately 4.6% of the outstanding ordinary shares of common stock of Mylan.
July 26, 2015
18:22 EDTMYLMedia reports say Teva to buy Allergan unit as it looks beyond Mylan
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12:30 EDTMYLTeva nears deal to buy Allergan generics unit for $40.5B, Bloomberg says
Teva (TEVA) is nearing a deal to buy Allergan's (AGN) generic drug unit for roughly $40.5B and an agreement could be announced as early as Monday, reports Bloomberg, citing people familiar with the matter. Sources said Teva also plans to withdraw its bid for Mylan (MYL) as soon as Monday. Reference Link
12:17 EDTMYLTeva to cancel Mylan bid, plans offer for Allergan generics unit, Bloomberg says
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July 24, 2015
06:56 EDTMYLPaulson may play key role in Teva-Mylan-Perrigo drama, CTFN says
John Paulson's hedge fund, Paulson & Co., has upped its stake in Mylan (MYL) to 4.65%, which is below the threshold that would compel it to disclose its plans to the U.S. SEC but high enough for it to obtain standing before the Dutch Enterprise Chamber, which would hear any legal challenge to the "stichting" maneuver the company is employing to avoid a takeover by Teva (TEVA), said CTFN. The takeover fight is most likely headed for court in Amsterdam after Mylan's shareholder foundation exercised an option to acquire shares and Paulson's involvement is noteworthy since he teamed with Centaurus Capital in 2007 to thwart a stichting ploy used by Stork, the report noted. Reference Link
July 23, 2015
09:04 EDTMYLTeva says 'strongly disagrees' with Stichting stated analysis
Teva Pharmaceutical Industries (TEVA) issued the following statement regarding Stichting Preferred Shares Mylan’s (MYL) decision to exercise its call option: "We strongly disagree with the stated analysis of Stichting Preferred Shares Mylan and its decision to exercise its call option, which is unwarranted, relies on false assumptions, and risks depriving Mylan stockholders and other stakeholders of the value inherent in a combination of Teva and Mylan. We continue to believe that our proposed transaction offers a compelling opportunity for value-creation and many other benefits for the stockholders, customers, patients, and employees of both companies. We are well advised on Dutch law, including the ability of Mylan stockholders to challenge this action in court, and are prepared to take the necessary actions at the appropriate time."
08:48 EDTMYLMylan, Teva lower after Stitching looks to thwart hostile deal
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08:48 EDTMYLMylan confirms exercise of full call option by independent foundation
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08:34 EDTMYLMylan foundation exercises call option to 'level playing field'
08:33 EDTMYLMylan foundation says shareholders at risk of Teva takeover
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July 22, 2015
10:06 EDTMYLAbbott CEO says supportive of Mylan pursuit of Perrigo
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09:30 EDTMYLAbbott CEO says 'pretty alligned' with Mylan so far
08:32 EDTPFEPfizer expands lease agreement with MIT subsidiary
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July 21, 2015
08:04 EDTPFEPfizer launches Caltrate Bone & Joint Health supplement
Pfizer Consumer Healthcare announced the launch of Caltrate Bone & Joint Health, a 3-in-1, triple action product that delivers UC-II, an exclusive form of collagen, to support healthy cartilage and promote joint flexibility, calcium and vitamin D3, to nourish strong and healthy bones, and vitamin C and minerals to support collagen production for healthy bones and skin.
July 20, 2015
08:38 EDTMYLAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
07:33 EDTMYLInternational AIDS Society to hold a conference
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07:30 EDTMYLZoetis 'highly likely' to merge with Bayer unit in 2016, says Jefferies
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