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Stock Market & Financial Investment News

News For MYL;NVS From The Last 14 Days
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August 21, 2015
05:25 EDTNVSNovartis acquires all remaining rights to Ofatumumab from GSK
Novartis (NVS) announced that it has entered into an agreement to acquire all remaining rights to Ofatumumab from GlaxoSmithKline (GSK). Ofatumumab, a fully human monoclonal antibody which targets CD20, is being developed for relapsing remitting multiple sclerosis, or RRMS, and other autoimmune indications. Novartis previously acquired the rights to Ofatumumab for oncology indications and it is marketed under the brand name Arzerra. Novartis will be responsible for the worldwide development, regulatory and commercialization activities for Ofatumumab. Under the terms of the agreement, Novartis will make an initial upfront payment of $300M to GSK for the acquisition of the compound and a further payment of $200M payable following the start of a phase III study in MS by Novartis. Upon completion of pre-determined milestones, contingent payments of up to $534M may be made. Novartis will also pay royalties of up to 12% to GSK on any future net sales of Ofatumumab in autoimmune conditions.
August 20, 2015
05:29 EDTNVSNovartis Odomzo gains EU approval for laBCC
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August 18, 2015
11:34 EDTMYLMylan says FDA warning on Agila facilities has no material impact on forecast
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10:19 EDTMYLMylan calls active on speculation of an activist investor stake
Mylan August 55 and 60 calls are active on total call volume of 7,900 contracts (800 puts) on speculation of an activist investor stake. August call option implied volatility is at 42, September is at 38; compared to its 52-week range of 22 to 52. Active call volume suggests traders taking positions for upside price movement.
10:01 EDTMYLRumor: Mylan moves higher on speculation of an activist investor stake
09:19 EDTNVSPiper Jaffray biopharma analyst holds an analyst/industry conference call
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07:32 EDTMYLMylan sued in connection with filing of ANDA for Abiraterone Acetate Tablets
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August 17, 2015
13:30 EDTNVSOn The Fly: Top stock stories at midday
Stocks began the session deep in negative territory after a disappointing Empire Manufacturing report. The data got the market off to a weak start as optimism over last week's finish began to fade. The averages continued to drift in a narrow range for the opening hour before reversing and capturing the opening losses. Each of the major equity indices is now back in positive territory sporting slight gains across the board. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index plunged to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009. The employment component slid to 1.82, while new orders crashed to -15.70. Meanwhile, the U.S. NAHB homebuilder sentiment index rose to 61 in August from 60 in June and and is the highest since November 2005. The single family sales index edged up to 66 versus a revised 65 last month, while the index of prospective buyer traffic improved to 45 versus 43 previously. In Europe, various Eurozone parliaments prepare to vote on Greece's new EUR86B bailout plan this week. COMPANY NEWS: Liberty Interactive (QVCA) announced this morning an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B, driving zulily shares up more than 47% in intraday trading. The acquisition will be attributed to Liberty's QVC Group tracking stock, though QVC and zulily will be operated as separate consumer facing brands. On a conference call discussing the acquisition, Liberty Interactive executives noted that the "highly efficient" deal will allow Liberty to reach a younger base. MAJOR MOVERS: Among the notable gainers AVEO Oncology (AVEO), which rose roughly 50% after announcing a license agreement with Novartis (NVS) for the development and commercialization of AVEO's AV-380 drug and related antibodies. Also higher was Kite Pharma (KITE), which advanced roughly 5.4% after clarifying that an earlier patient death in its Phase 1/2 KTE-C19 trial for non-Hodgkin's lymphoma was unrelated to Kite's therapy. Additionally, shares of Target (TGT) have gained roughly 10c despite lingering in negative territory early Monday after the company promoted CFO John Mulligan to the newly created role of EVP and COO and appointed Cathy Smith as EVP and CFO. Prior to joining Target, Smith served as EVP and CFO at St. Louis-based Express Scripts (ESRX). Among the noteworthy losers was KKR (KKR), which lost roughly 2.4% after Samson Resources announced a restructuring agreement late Friday, adding that it expects to file for bankruptcy within 30 days. Also lower was Estee Lauder (EL), which declined nearly 6.5% after its quarterly guidance missed analysts' estimates. INDEXES: Near midday, The Dow was up 65.11, or 0.37%, to 17,542.51, the Nasdaq gained 34.73, or 0.69%, to 5,082.96, and the S&P 500 advanced 8.80, or 0.42%, to 2,101.03.
06:01 EDTNVSAVEO Oncology announces license agreement with Novartis
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August 14, 2015
17:08 EDTMYLPaulson & Co gives quarterly update on stakes
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16:37 EDTMYLAppaloosa gives quarterly update on stakes, takes stake in Apple
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13:33 EDTMYLPaulson & Co. votes in support of Mylan's proposed merger with Perrigo
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12:12 EDTMYLPaulson recently took position in Perrigo, WSJ reports
John Paulson's hedge fund, which owns a 4.6% stake in Mylan (MYL), recently built a position in Perrigo (PRGO), Wall Street Journal reports, citing people familiar with the matter. Mylan has made an unsolicited bid to acquire Perrigo. Shares of Perrigo moved up following the report, and sit up 85c to $193.35 in midday trading.
11:10 EDTMYLPerrigo says ISS affirms position that Mylan deal would be 'value destructive'
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09:20 EDTMYLMylan responds to ISS recommendation regarding Perrigo transaction
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08:59 EDTMYLMylan tells holders board unanimously recommends Perrigo deal
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08:35 EDTMYLHayman takes Mylan, Perrigo stakes, boasts exposure to energy
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08:23 EDTMYLMylan still in 'decent' position to win Perrigo vote, CNBC's Faber reports
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08:22 EDTMYLISS tells Mylan investors to vote against Perrigo takeover, WSJ reports
Proxy adviser Institutional Shareholder Services, or ISS, recommended that Mylan (MYL) investors vote against approving the company's $36B takeover of Perrigo (PRGO), the Wall Street Journal reports. ISS said that the deal faces too many hurdles and has "unreasonable uncertainties" associated with it, the report says. Reference Link
07:02 EDTNVSPrima BioMed announces commencement of milestones for IMP701 program
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