|January 21, 2014|
|07:06 EDT||PATH, ENDP, TEVA||NuPathe 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announced that it has terminated its agreement and plan of merger with Endo Health Solutions (ENDP) and its board has withdrawn its recommendation that stockholders accept Endo's offer to acquire all outstanding shares of NuPathe common stock.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
Check below for free stories on PATH;ENDP;TEVA the last two weeks.
|August 21, 2014|
|15:16 EDT||TEVA||DEA restricts painkiller drug prescriptions to curb abuse, WSJ reports|
The Drug Enforcement Agency, or DEA, will reclassify hydrocodone combination painkiller drugs and place them in the category of medical substances that have the highest potential for harm in an attempt to curb the widespread abuse of the drugs, according to The Wall Street Journal. The rescheduling of the drugs will take effect in 45 days and result in people being able to obtain the drug for only 90 days without obtaining a new prescription. Major manufacturers of these drugs include Teva Pharmaceutical (TEVA), Mallinckrodt (MNK), AbbVie (ABBV), and Actavis (ACT). Reference Link
|August 19, 2014|
|05:11 EDT||TEVA||Gamida Cell announces investment, option agreement with Novartis |
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|August 18, 2014|
|10:06 EDT||TEVA||Lannett surges after upbeat Q4, FY14 outlook|
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|08:50 EDT||TEVA||Teva management to meet with JPMorgan|
Meeting to be held in Boston on August 20 hosted by JPMorgan.
|August 14, 2014|
|17:08 EDT||TEVA||Soros Fund Management gives quarterly update on stakes |
NEW STAKES: CONSOL Energy (CNX), Google (GOOG), Level 3 (LVLT), Time Warner (TWC), and New Oriental (EDU). INCREASED STAKES: YPF SA (YPF), Apple (AAPL), Facebook (FB), AIG (AIG), and American Airlines (AAL). DECREASED STAKES: Teva (TEVA), Liberty Global (LBTYK), Barrick Gold (ABX), EQT (EQT), and Comcast (CMCSA). LIQUIDATED STAKES: FedEx (FDX), Monster Beverage (MNST), Google (GOOGL), Devon Energy (DVN), Marathon Petroleum (MPC).
|12:58 EDT||TEVA||JANA Partners gives quarterly update on stakes |
NEW STAKES: Apache (APA), FMC Corp (FMC), Civeo (CVEO), PetSmart (PETM), and Charter Communications (CHTR). INCREASED STAKES: Actavis (ACT), AIG (AIG), Mallinckrodt (MNK), HD Supply (HDS), and American Capital (ACAS). DECREASED STAKES: Liberty (LVNTA), Oil States International (OIS), eBay (EBAY), Liberty Media (LMCA), and Liberty Interactive (LINTA). LIQUIDATED STAKES: Sirius XM (SIRI), Juniper (JNPR), Golar LNG (GLNG), Outerwall (OUTR), and Teva (TEVA).
|07:46 EDT||ENDP||Endo valuation attractive, says Goldman|
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|August 8, 2014|
|09:00 EDT||ENDP||BioDelivery Sciences still a takeover target, says Janney Capital|
Janney Capital continues to believe that BioDelivery Sciences (BDSI) could be a takeover target, noting that it thinks partner Endo International (ENDP) could be a potential buyer if BioDelivery has more positive top-line results and if the market weakens. The firm, which added that it likes BioDelivery Sciences as a stand-alone company as well, maintains its Buy rating and $15 fair value estimate on the stock.
|August 7, 2014|
|13:55 EDT||TEVA||Teva won't be meaningfully hurt soon by new Copaxone filing, says BMO Capital|
After Teva (TEVA) confirmed that it received the first paragraph IV notice for the 3x per week version of its Copaxone drug from Dr. Reddy's (RDY), BMO Capital said it had expected companies to seek to market a generic version of the latest Copaxone formulation, but was surprised that Dr. Reddy's took this action. The firm notes that Teva's decision to file a lawsuit against Dr. Reddy over the application will trigger a 30 month stay of approval of the generic version,. BMIO Capital says that investors should keep this issue on their radar, but the firm does not expect Teva to be meaningfully hurt in the near-term by this development. It keeps an Outperform rating on Teva.
|12:06 EDT||TEVA||Teva will continue to defend COPAXONE intellectual property rights|
Teva (TEVA) confirmed that it has received the first paragraph IV notice for its three-times-a-week COPAXONE 40 mg/mL product from Dr. Reddy’s Laboratories (RDY). Teva will continue to vigorously defend its COPAXONE intellectual property rights against infringement wherever they are challenged. Teva intends to file a lawsuit for patent infringement against Dr. Reddy’s within the 45 day period provided under the Hatch-Waxman Act. The filing of the lawsuit will trigger a 30 month stay of FDA approval of Dr. Reddy’s ANDA. COPAXONE 40 mg/mL is protected by two Orange Book patents that expire in 2030.
|10:20 EDT||TEVA||Mylan says litigation ins ongoing in India regarding Teva|
Mylan (MYL) said that it expects Teva's (TEVA) efforts to seek an injunction will "as ineffective as it was in U.S. courts." The company said it will not provide further comment on the matter. Mylan said it will also postpone its 2014 Investor Day due to the ongoing nature of the Abbott (ABT) transaction. It expects its fully realized savings and profit from new products will not be realized till 2015. Comments taken from Q2 earnings conference call.