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Stock Market & Financial Investment News

News Breaks
May 15, 2013
19:37 EDTACT, NVS, VRX, MYLNovartis weighing Actavis bid, WSJ reports
Valeant Pharmaceuticals (VRX) and Mylan (MYL) are weighing options after approaches made to Actavis (ACT) were rebuffed, and a report by the Wall Street Journal, citing a source, says Novartis (NVS) is weighing whether to launch its own bid for Actavis. Reference Link
News For NVS;MYL;VRX;ACT From The Last 14 Days
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July 22, 2015
07:03 EDTNVSIgnyta names Bernard Parker as Chief Commercial Officer
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July 21, 2015
11:49 EDTNVSNovartis may sell Amgen's cancer drug as soon as September, Bloomberg says
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10:01 EDTVRXOn The Fly: Analyst Initiation Summary
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05:20 EDTNVSNovartis backs FY15 revenue guidance of up mid-single digit
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05:17 EDTNVSNovartis reports Q2 core EPS $1.27, consensus $1.24
Reports Q2 revenue $12.7B, consensus $12.44B. Further strengthening of USD impacted sales by -11% and core operating income by -13%. Growth Products, an indicator of the rejuvenation of the portfolio, contributed 35% of continuing operations net sales in Q2, and were up 24%. In Pharmaceuticals, Growth Products contributed 44% of division net sales in the quarter, and sales for these products were up 38%.
July 20, 2015
16:15 EDTVRXValeant initiated with a Buy at BTIG
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08:38 EDTMYL, VRXAnalyst 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.
08:25 EDTNVSNovartis management to meet with JPMorgan
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07:33 EDTVRXValeant price target raised to $285 from $275 at Canaccord
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07:33 EDTMYLInternational AIDS Society to hold a conference
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07:32 EDTNVSAlzheimer's Association 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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July 17, 2015
08:38 EDTMYLLeerink puts 25% odds on Teva, Mylan deal within 12 months
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08:02 EDTVRXValeant agrees to acquire Amoun Pharmaceutical
Valeant announced that it has entered into a definitive agreement under which Valeant will acquire Mercury Holdings, the holding company of Amoun Pharmaceutical, for consideration of approximately $800M, plus contingent payments. Amoun Pharmaceutical currently expects to reach EGP 1.75B by 2015, with annual growth of approximately 20%. Valeant intends for Amoun to serve as a platform for further expansion in the broader Middle East and North Africa pharmaceutical market and expects the transaction to close in the third quarter, subject to customary closing conditions.
July 15, 2015
07:58 EDTNVSAnalysts break down impact of $7.2B Receptos buyout
After Celgene (CELG) announced last night that the company has agreed to acquire Receptos (RCPT) for $232 per share in cash, or a total of about $7.2B net of cash acquired, research firms have chimed in with their opinions on how the proposed deal may impact others in the biotech space. Receptos key asset is Ozanimod, which is being studied in Phase III trials for relapsing multiple sclerosis and ulcerative colitis. DERIVATIVE CALLS: Piper Jaffray analyst Edward Tenthoff told investors that he views Celgene's deal for Receptos as good for Arena Pharmaceuticals (ARNA). The analyst notes that Arena's APD334 is already showing dose-dependent decreases in circulating lymphocyte counts and that the company will initiate Phase II studies in ulcerative colitis and Crohn's disease this year. Tenthoff reiterates an Overweight rating and $7.50 price target on Arena, which has a market capitalization around $1B and closed yesterday up 8c to $4.47. In its own note to investors this morning, Nomura said Celgene's deal could put downward pressure on Biogen's (BIIB) long-term multiple sclerosis estimates. Nomura's M. Ian Somaiya contended that one-year Phase II efficacy data for Ozanimod looked as good as Novartis’s (NVS) Gilenya and Biogen's Tecfidera’s Phase III at year 2. Somaiya also wondered if rival Gilead (GILD) could be "looking for something bigger" than Receptos for its own deal, telling investors that the firm views Incyte (INCY) as Gilead's most likely takeout target. Incyte's shares closed up $4.46 at $117.46 yesterday, giving the company a market cap of about $20B. RIVAL BID?: Wedbush analyst Liana Moussatos believes another bidder may seek to acquire Receptos, noting that she previously estimated Receptos could be valued at $348 per share, or about $10.9B, in a buyout. Moussatos noted that Celgene said it expects annual peak sales for Ozanimod to reach about $4B-$6B for RMS and UC, making its acquisition price of $7.2BN only a bit more than about 1X peak sales without accounting for other possible indications or the rest of its pipeline. Moussatos told investors she sees "plenty" of potential upside to justify a rival bidder stepping in and reiterated the firm's Outperform rating on Receptos shares. PRICE ACTION: In pre-market trading, Receptos rose 10% to $228.61 while Gilead gained 1.4% to about $119 per share.
July 14, 2015
09:53 EDTMYLAdvocacy groups ask FTC to block Teva-Mylan deal, Bloomberg reports
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07:32 EDTMYLMylan launches Memantine Hydrochloride Tablets USP in the U.S.
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July 13, 2015
11:47 EDTACT, NVSFDA approves new drug to treat schizophrenia
The U.S. FDA announced that it has approved Rexulti tablets to treat adults with schizophrenia and as an add-on treatment to an antidepressant medication to treat adults with major depressive disorder. Rexulti is manufactured by Tokyo-based Otsuka Pharmaceutical. Novartis' (NVS) Clozaril is indicated to treat severely ill adult patients with schizophrenia who have not responded appropriately to standard antipsychotic treatment. Other atypical antipsychotics include Otsuka's Abilify, Pfizer's (PFE) Geodon, Janssen's (JNJ) Invega and Risperdal, Forest Labs' (ACT) Saphris, AstraZeneca's (AZN) Seroquel and Eli Lilly's (LLY) Zyprexa.
09:01 EDTVRXUnilens Vision agrees to be acquired by Valeant for $12.75 per share
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07:24 EDTVRXZoetis recent pullback a buying opportunity, says Piper Jaffray
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