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Stock Market & Financial Investment News

News Breaks
April 4, 2014
10:45 EDTCELG, TEVA, MYLMylan rises despite Meda rejecting takeover offer
Mylan (MYL) shares are higher this morning following a Financial Times report of its desire to buy Swedish rival Meda. Subsequent to the story being published, Meda confirmed it had been in talks with Mylan but rejected the company's takeover offer. WHAT'S NEW: The Financial Times reported that Mylan was considering buying Meda, a Swedish drugmaker, in a deal that would create a $23B+ pharmaceuticals business. Mylan reportedly hired advisers to put a deal together for Meda, and though the value of a deal was not noted, sources said Mylan was likely to pay a "significant" premium to Meda's market value, which was $4.5B at the end of trading on Thursday. Mylan's market value currently stands at $18.5B. A combination of the drugmakers would create a company with annual revenues of around $9B, the FT said, noting that would be half the size of generic drug rival Teva (TEVA). WHAT'S NOTABLE: Meda's board of directors confirmed that it was contacted by Mylan regarding a proposal to merge the companies, but the board decided to reject the proposal. Meda said all discussions between the company and Mylan have been terminated "without further actions." ANALYST REACTION: Citigroup upgraded Mylan to Buy from Neutral and raised its price target on the stock to $61 from $52 this morning. The firm cited potential operational and tax benefits from an acquisition of Meda, stating that in addition to expanding Mylan's geographic presence, the deal would increase its presence in specialty, OTC and branded generics. OTHER NEWS: Mylan sued Celgene (CELG) to block that company's efforts to keep generic versions of Revlimid and Thalomid off the market, Reuters reported. PRICE ACTION: Mylan shares are up $2.98, or 5.98%, to $52.84 in mid-morning trading.
News For MYL;TEVA;CELG From The Last 14 Days
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August 28, 2015
06:01 EDTTEVAStocks with implied volatility below IV index mean; BIIB TEVA
Stocks with implied volatility below IV index mean; Biogen (BIIB) 38, Teva (TEVA) 31 according to iVolatility.
August 27, 2015
16:03 EDTCELGCelgene completes acquisition of Receptos
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06:01 EDTTEVAStocks with implied volatility below IV index mean; BBY TEVA
Stocks with implied volatility below IV index mean; Best Buy (BBY) 34, Teva (TEVA) 33 according to iVolatility.
August 26, 2015
10:07 EDTMYLMylan initiated with a Buy at Standpoint Research
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06:55 EDTMYLMylan shares may sell off on affirmative Perrigo deal vote, says BMO Capital
With Mylan (MYL) set to hold a shareholder vote on August 28 regarding its proposed acquisition of Perrigo (PRGO), BMO Capital analyst David Maris predicts that if the vote goes in Mylan's favor, he expects Perrigo shares to rise and Mylan shares to fall. Afterward, he feels added overhangs, such as Teva's (TEVA) and Abbott's (ABT) shareholdings and potential short-term selling by arbitrageurs, will come into play, further pressuring Mylan shares.
05:58 EDTMYLPerrigo CEO says company is 'very active in M&A,' Bloomberg reports
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05:56 EDTTEVAStocks with implied volatility below IV index mean; BBY TEVA
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August 25, 2015
17:11 EDTTEVAU.S. District Court rules in Eli Lilly's favor on Alimta vitamin regimen patent
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15:02 EDTTEVA, MYLMylan says USPTO institutes IPR of two Copaxone patents
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14:40 EDTTEVA, MYLTeva Copaxone patents to be reconsidered by regulators, Bloomberg says
14:16 EDTMYLMylan launches generic version of Pfizer's Zosyn Injection
Mylan (MYL) announced the U.S. launch of Piperacillin and Tazobactam for Injection USP, 3.375g Single-dose Vials, which is the generic version of Pfizer's (PFE) Zosyn Injection. This product is a combination penicillin-class antibacterial and beta-lactamase inhibitor indicated for the treatment of patients with moderate to severe infections caused by susceptible isolates of certain bacteria. Piperacillin and Tazobactam for Injection USP, 3.375g Single-dose Vials had U.S. sales of approximately $72.1M for the 12 months ending June 30, 2015, according to IMS Health. Mylan's launch of this product adds to the company's growing portfolio of more than 145 injectable products available to patients in the U.S. across a broad array of therapeutic categories including oncology, anti-infectives, anesthesia/pain management and cardiovascular.
13:22 EDTMYLMylan comments on 'misleading' Perrigo statements
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11:27 EDTTEVA, MYLTeva to refrain from voting at Mylan special meeting
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08:17 EDTTEVATeva multiple low, says Leerink
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07:31 EDTCELGCelgene announces expiration of tender offer for Receptos shares
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August 24, 2015
18:55 EDTCELGOn The Fly: After Hours Movers
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18:52 EDTCELGJazz, Celgene, Shire up after USPTO rejects Acorda patent challenge
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13:36 EDTCELGBiotech correction presents some opportunities, says RBC Capital
RBC Capital analyst Michael Yee said he won't try to pick the short-term bottom in biotech, but contends that any macro weakness in China shouldn't have any major impact to financials or fundamentals for the sector given their minimal exposure there. If the market continues to be volatile, Yee recommends a focus on names with defensive characteristics, such as higher margins and free cash flow yield, naming Amgen (AMGN), Celgene (CELG) and Gilead (GILD) as some examples. The analyst adds that he likes Vertex (VRTX) on the pullback for "more aggressive" growth investors. Yee has Outperform ratings on all of the stocks mentioned above.
10:20 EDTTEVATeva says EMA confirms validation of reslizumab MAA
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August 23, 2015
12:35 EDTCELGBiotech firms could see 'billions' in sales from new cancer drugs, Barron's says
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