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Stock Market & Financial Investment News

News Breaks
August 7, 2014
10:20 EDTMYLMylan sees FY14 adjusted EBITDA $2.2B-$2.4B
News For MYL From The Last 14 Days
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September 23, 2014
10:54 EDTMYLStocks, analysts react to Treasury inversion crackdown
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09:13 EDTMYLOn The Fly: Pre-market Movers
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09:09 EDTMYLMylan shares defended at BofA/Merrill
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08:53 EDTMYLInversion regulations look more onerous than expected, says FBR Capital
FBR Capital says the new regulations announced last night by the Treasury and IRS contain appear more onerous than expected. FBR points out the proposed changes remove the ability of inverting companies to make "hopscotch loans" between the foreign and domestic subsidiaries. The firm believes the regulations will not end the practice of inversions, and it still expects completion of already announced deals.
06:28 EDTMYLTreasury rules may put Mylan deal at risk, says BMO Capital
BMO Capital believes Treasury's new inversion rules may put the tax benefits of Mylan's (MYL) planned acquisition of Abbott's (ABT) established products business at risk. BMO also thinks the rules impact Salix's (SLXP) pending deal for Cosmo Pharmaceuticals, which it feels may help make a deal with Allergan (AGN) more likely.
05:56 EDTMYLTreasury, IRS announce plans to reduce inversion tax benefits
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September 19, 2014
11:25 EDTMYLSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
September 17, 2014
11:01 EDTMYLActavis drops after NY AG seeks to block Alzheimer drug switch
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September 16, 2014
11:51 EDTMYLOECD looks to close tax loopholes with new proposals
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07:33 EDTMYLMylan initiates Phase III clinical trials for Advair Diskus and Lantus
Mylan (MYL) announced it is initiating Phase III clinical trials for its generic version of GlaxoSmithKline's (GKS) Advair Diskus and its insulin analog to Sanofi's (SNY) Lantus. In October Mylan will commence a Phase III clinical trial to evaluate the equivalence of its product to Advair Diskus when administered by inhalation in adult asthma patients.
September 15, 2014
06:34 EDTMYLMylan signs agreement with Gilead
Mylan (MYL) announced that its subsidiary Mylan Laboratories Limited has entered into an agreement with Gilead Sciences (GILD), under which Mylan has been licensed the non-exclusive rights to manufacture and distribute sofosbuvir and the investigational single tablet regimen of ledipasvir/sofosbuvir in 91 developing countries. Sofosbuvir is marketed by Gilead under the brand name Sovaldi. The countries within the agreement account for more than 100M people living with hepatitis C globally representing 54% of the total global infected population. Under the licensing agreement, Mylan will receive a technology transfer enabling the company to manufacture low-cost versions of the medicines for developing markets.
September 10, 2014
07:02 EDTMYLMylan to acquire U.S. rights to Arixtra injection from Aspen
Mylan's subsidiary Mylan Ireland Limited has entered into an agreement to acquire the U.S. commercialization, marketing and intellectual property rights relating to Arixtra Injection and the authorized generic of Arixtra from Aspen Global Incorporated. Arixtra is indicated for the prophylaxis of deep vein thrombosis, which may lead to pulmonary embolism in patients undergoing hip fracture surgery. Mylan already is selling Arixtra in the U.S. through an interim distribution arrangement with Aspen and Apotex is currently selling the AG of Arixtra, which will be transitioning to Mylan Institutional by year end.

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