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News Breaks
January 21, 2014
07:06 EDTTEVA, ENDP, PATHNuPathe terminates agreement with Endo, to be acquired by Teva
NuPathe (PATH) announced that it has terminated its agreement and plan of merger with Endo Health Solutions (ENDP) and its board has withdrawn its recommendation that stockholders accept Endo's offer to acquire all outstanding shares of NuPathe common stock. NuPathe has also entered into an agreement and plan of merger with Teva Pharmaceutical (TEVA) under which Teva will acquire NuPathe for $3.65 per share in cash. In addition to the upfront cash payment, NuPathe stockholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe's migraine treatment, Zecuity, are achieved over time. Under the terms of the agreement, an affiliate of Teva will promptly commence a tender offer to acquire all outstanding shares of NuPathe's common stock for $3.65 per share in cash and the right to receive contingent cash consideration payments of up to $3.15 per share if specified net sales thresholds for NuPathe's Zecuity are achieved. The contingent cash consideration payments, which will not be publicly traded, are as follows: $2.15 per share in cash payable upon net sales of Zecuity of at least $100M in any four consecutive calendar quarters, on or prior to the 60th day following the ninth anniversary of the date of the first commercial sale of Zecuity; and $1.00 per share in cash payable upon net sales of ZECUITY of at least $300 million in any four consecutive calendar quarters, on or prior to the 60th day following the ninth anniversary of the date of the first commercial sale of Zecuity. The transaction is expected to be completed in February.
News For PATH;ENDP;TEVA From The Last 14 Days
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December 17, 2014
09:26 EDTTEVAPerrigo would be good acquisition for Teva, says RBC Capital
RBC Capital views Perrigo (PRGO) as an attractive acquisition target and says in a note to investors that it thinks a takeover could be a good strategic fit with solid accretion for Teva (TEVA). Teva has interest in over-the-counter products and its growth rate would be boosted by the merger, RBC believes. The firm assumes a $200 per share value for Perrigo in its acquisition assumptions. Shares of the over-the-counter and generic pharmaceuticals company closed yesterday at $153.77.
December 16, 2014
09:52 EDTTEVAFDA ruling on generic Celebrex reversed by appeals court
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08:58 EDTENDPEndo a top pick for 2015, says Sterne Agee
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December 12, 2014
10:01 EDTTEVAOn The Fly: Analyst Upgrade Summary
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08:49 EDTTEVATeva upgraded at Sterne Agee
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07:06 EDTTEVATeva upgraded to Buy from Neutral at Sterne Agee
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December 11, 2014
17:04 EDTENDPEndo registration statement relating to Auxilium declared effective by SEC
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09:39 EDTTEVATeva FY15 outlook appears strong, reasonable, says BMO Capital
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07:24 EDTTEVATeva to host conference call
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07:12 EDTTEVATeva sees FY15 Copaxone sales $3.5B-$3.7B
Sees FY15 Treanda sales $670M-$750M. Sees FY15 ProAir family sales $470M-$580M, Azilect sales $350M-$400M and Nuvigil sales $300M-$330M. Erez Vigodman, President & CEO of Teva, said, "Generics remain at the heart of our business, both as the cornerstone of the Company, but also as an area that has great impact on society. At the same time, we anticipate four specialty product approvals and five submissions in 2015 which we believe will improve treatment options for patients, and add value for all of our stakeholders." The company expects 2015 generic revenues in the United States to be $4.2B-$4.6B, $2.6B-$3.0B in Europe and $2.0B-$2.3B in its ROW markets. Results of its specialty segment are expected to be impacted by the introduction of two AB-rated generic competitors to Copaxone in the U.S. beginning in September 2015, which is a modeling assumption only, as well as by increased competition from oral products for the treatment of multiple sclerosis. In addition, the company is expecting to invest in a significant number of product launches and in its specialty pipeline. "All of these will result in lower profit and profitability, as we focus on generating growth over the next few years," Teva said.
07:08 EDTTEVATeva sees FY15 gross profit 59.5%-61.5%
Teva sees FY15 cash flow from operations $4.3B-$4.7B and free cash flow $3.5B-$3.7B.
07:07 EDTTEVATeva sees spending $1B-$1.2B on share buybacks in 2015
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07:02 EDTTEVATeva sees FY15 EPS $5.00-$5.30, consensus $5.06
Sees FY15 revenue $19B-$19.4B, consensus $20.07B.
December 10, 2014
08:31 EDTTEVATeva announces launch of first generic Celebrex capsules in the U.S.
Teva Pharmaceutical Industries (TEVA) announces the launch of the first FDA-approved generic equivalent to Celebrex Capsules in the United States. Teva is offering 50, 100, 200, and 400 mg strengths of Celecoxib Capsules. Celebrex Capsules, marketed by Pfizer (PFE) had annual sales of approximately $2.56B in the United States, according to IMS data as of October 2014.
December 9, 2014
07:44 EDTTEVAAmerican Association for Cancer Research to hold a symposium
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07:08 EDTENDPEndo completes acquisition of rights to Natesto from Trimel BioPharma
Endo International announced the completion of the acquisition of rights to Natesto, a testosterone nasal gel, the first and only testosterone nasal gel for replacement therapy in adult males diagnosed with hypogonadism, from Trimel BioPharma, a wholly-owned subsidiary of Trimel Pharmaceuticals for $25M including additional payments upon the achievement of certain regulatory and sales milestones. Endo will collaborate with Trimel on all regulatory and clinical development activities regarding Natesto. Endo intends to launch the product, through its Endo Pharmaceuticals subsidiary, in the Q1 of 2015.
December 8, 2014
11:30 EDTTEVALeerink generics pharmaceutical analyst holds analyst/industry conference call
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09:32 EDTENDPSyneron Medical signs agreement with AMS to supply holmium laser for urology
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08:21 EDTTEVAMerck says looked at all risks, including patent litgation, before Cubist deal
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06:47 EDTTEVAArena says Teva files marketing authorization of Belviq in Israel
Arena Pharmaceuticals (ARNA) disclosed late Friday that Teva Pharmaceutical's (TEVA) local Israeli subsidiary, Abic Marketing Limited, has filed for marketing authorization of Belviq in Israel. In connection with the filing, Arena will receive a milestone payment of $250K.
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