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Stock Market & Financial Investment News

News Breaks
March 24, 2014
13:30 EDTTEVA, MYLDistrict Court upholds Mylan's patents on performist inhalation solution
Mylan announced the United States District Court for the Northern District of West Virginia issued a decision upholding the validity of all patents asserted by Mylan, protecting Perforomist Inhalation Solution. Mylan previously sued Teva alleging that Teva's Abbreviated New Drug Application for this product infringed four Mylan patents covering Perforomist. After a full trial, the Court entered a judgment finding infringement of the patents-in-suit, rejecting Teva's defenses, and enjoining Teva from making, using, offering to sell, selling or importing the inhalation product described in Teva's ANDA. The Court's decision also prevents Teva's ANDA, which has yet to receive a tentative approval from the FDA, from receiving final approval prior to expiration of U.S. Patent Nos. 6,667,344; 6,814,953; 7,348,362; and 7,462,645, which cover Perforomist through June 2021.
News For MYL;TEVA From The Last 14 Days
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February 11, 2016
06:48 EDTMYLCiti struggling with high price Mylan paid for Meda
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05:44 EDTTEVA, MYLOptions expected to be active
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February 10, 2016
19:33 EDTMYLOn The Fly: After Hours Movers
UP AFTER EARNINGS: HubSpot (HUBS), up 12%... CSRA (CSRA), up 12%... Expedia (EXPE), up 11.5%... Tesla (TSLA), up 9.6%... Hortonworks (HDP), up 8.6%... Skechers (SKX), up 8.8%... Cisco Systems (CSCO), up 7.3%... Centurylink (CTL), up 8.4%... O'Reilly Automotive (ORLY), up 5.2%... Kinross Gold (KGC), up 3.7%... Whole Foods Market (WFM), up 2.5%. ALSO HIGHER: Tripadvisor (TRIP) is up 7.1% and Priceline (PCLN) is up 4.5% after Expedia reported its quarterly results. DOWN AFTER EARNINGS: Pilgrim's Pride (PPC), down 10.9%... Cornerstone OnDemand (CSOD), down 3.6%... Mylan (MYL), down 9.4% after reporting quarterly results and announcing that it will acquire Meda Aktiebolag for $9.9B... Zynga (ZNGA), down 8.9%... iRobot (IRBT), down 6.4%... Prudential (PRU), down 1%... Twitter (TWTR), down 3%... Pioneer Natural (PXD), down 2.4%. ALSO LOWER: Franco-Nevada (FNV), down 4.9% after 11.5M share Spot Secondary priced at $47.85... Continental Resources (CLR), down 2.4% after reporting proved reserves of 1.23B Boe at Dec. 31, 2015.
18:42 EDTMYLMeda board unanimously recommends shareholders accept Mylan offer
The Board of Directors of Meda unanimously recommends that the shareholders of Meda accept the offer made by Mylan (MYL). The Board's opinion of the Offer is based on an assessment of a number of factors that the Board has considered relevant in relation to the evaluation of the Offer. These factors include, but are not limited to, Meda's present position, the expected future development of the Company and thereto related possibilities and risks. In the Board's opinion, Meda has a well-defined and viable strategy going forward, notably in relation to further organic growth of the Dymista franchise both in Europe and the US, a strong and growing presence in emerging markets and further margin expansion following the integration of the Rottapharm business. However, the Board views a combination of Meda and Mylan as positive and believes it to be strategically merited in a rapidly consolidating market, and the share consideration will further enable the Company's shareholders to benefit from the combined accelerated growth story and combination benefits. Furthermore, these benefits enable Meda to address certain risks associated with the Company's current prospects. These risks include those associated with Meda's scale in the US market, which is not at critical mass, macroeconomic issues in selected economies and the inorganic growth of Meda.
16:17 EDTMYLMylan sees 2016 adjusted EPS $4.85-$5.15, consensus $4.97
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16:16 EDTMYLMylan reports Q4 EPS adjusted EPS $1.22, consensus $1.27
Reports Q4 adjusted revenue $2.49B, consensus $2.70B.
16:09 EDTMYLMylan acquires Meda Aktiebolag for $9.9B
Mylan announced a recommended public offer to the shareholders of Meda Aktiebolag to tender all their shares in Meda to Mylan. The total offer consideration consists of a combination of cash and Mylan ordinary shares with a value at announcement of SEK 165 per Meda share. The total value of the offer for all Meda shares, including Meda net debt, is approximately $9.9B which represents a multiple of approximately 8.9x 2015 adjusted EBITDA with synergies. The company said, "The combination of Mylan and Meda will create a diversified global pharmaceutical leader with an expansive portfolio of branded and generic medicines and a strong and growing portfolio of over-the-counter (OTC) products. The combined company will have a balanced global footprint with significant scale in key geographic markets, particularly the U.S. and Europe. The acquisition of Meda also provides Mylan with entry into a number of new and attractive emerging markets, including China, Southeast Asia, Russia, the Middle East and Mexico, complemented by Mylan's presence in India, Brazil and Africa." The offer has been unanimously approved by Mylan's board of directors and unanimously recommended by Meda's board of directors. Meda's two largest shareholders, representing in the aggregate approximately 30% of Meda's outstanding shares, have undertaken to accept the offer, subject to certain conditions. Meda's shares are listed on Nasdaq Stockholm, Large Cap. The offer is not subject to approval by Mylan shareholders and is not subject to any financing conditions. The transaction is expected to be immediately accretive to Mylan earnings, with accretion increasing significantly after the first full year as synergies are realized. The transaction creates an opportunity to achieve 35c-40c accretion in 2017 and to accelerate achievement of Mylan's previously stated $6.00 in adjusted diluted EPS target in 2017 versus 2018.
15:46 EDTMYLMylan to announce acquisition of Meda, FT says
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14:32 EDTTEVANotable companies reporting before tomorrow's open
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14:32 EDTMYLNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Cisco (CSCO), consensus 54c... Tesla (TSLA), consensus 8c... Twitter (TWTR), consensus 12c... Whole Foods (WFM), consensus 40c... Mylan (MYL), consensus $1.27... Expedia (EXPE), consensus $1.00... Prudential Financial (PRU), consensus $2.30... O'Reilly Automotive (ORLY), consensus $2.08... Pioneer Natural Resources (PXD), consensus (30c)... Skechers (SKX), consensus 20c... Zynga (ZNGA), consensus 0c.
13:19 EDTMYLMylan volatility elevated into Q4 and outlook
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09:01 EDTTEVATeva volatility elevated into Q4 and outlook
Teva February weekly call option implied volatility is at 81, February is at 51, March is at 37; compared to its 52-week range of 20 to 41, suggesting large near term price movement into the expected release of Q4 results on February 11.
08:12 EDTMYLTheravance achieves 50% enrollment in three Phase 3 studies of COPD treatment
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08:10 EDTMYLMomenta announces early HSR clearance for biosimilars collaboration with Mylan
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February 9, 2016
13:26 EDTMYLMylan volatility elevated into Q4 and outlook
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February 8, 2016
09:34 EDTTEVAPfizer sees decision about potential separation by no later than end 2018
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February 3, 2016
06:13 EDTMYLPfizer insists Allergan deal won't be thwarted by U.S. politicians, FT says
Pfizer (PFE) has insisted that its $160B acquisition of Allergan (AGN) will not be stifled by political opposition, amid criticism that the deal will cost the U.S. Treasury billions of dollars in future tax revenues, the Financial Times reports. Pfizer CEO Ian Read also reiterated his intention to postpone until 2018 a decision on whether to break of the combined entity into two or three smaller companies, but has said that he would be open to offers for its generics unit, the report says. Mylan (MYL) has been connected to a potential acquisition of Pfizer's generic drugs business after it failed in its attempt to buy Perrigo (PRGO) last year, the report says. Reference Link
February 2, 2016
08:12 EDTTEVATeva enters into collaborative research agreement with AbCellera
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08:01 EDTTEVATeva, AbCellera enter agreement to discover rare monoclonal antibodies
Teva and AbCellera have entered into a collaborative research agreement whereby AbCellera will apply its high-throughput single cell antibody platform for the discovery of rare monoclonal antibodies. Under the terms of the agreement, AbCellera will receive an upfront payment, research payments, and is eligible to receive undisclosed downstream milestones associated with the development and approval of therapeutic antibodies.
February 1, 2016
08:04 EDTTEVA, MYLTeva Mylan not seeing same negative trends as Sandoz, says Bernstein
After Novartis (NVS) reported weak results for its generics unit, Sandoz, and blamed it on industry trends, Bernstein quotes Mylan (MYL) and Teva (TEVA) as saying that they are seeing only "slight adjustments back to normal levels" from "mildly favorable" results in 2014 and 2015. Bernstein says that Sandoz has lost a number of fairly profitable products and has had fewer approvals than its peers. Bernstein keeps Outperform ratings on Teva and Mylan.
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