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Stock Market & Financial Investment News

News Breaks
January 8, 2014
07:28 EDTENDP, TEVA, PATHNuPathe says Teva proposal 'reasonably expected' to lead to 'superior proposal'
NuPathe (PATH) disclosed Teva (TEVA) offered to purchase any and all of the shares of NuPathe, at a price per Share of $3.65 per share, net to the seller in cash, plus contractual rights to receive up to an additional $3.15 per share in contingent cash consideration payments payable in the future upon achievement of certain milestones related to ZECUITY. Further, Teva indicated it is prepared to loan the company funds to cover both the company’s ongoing operations pending closing of a transaction and to pay any termination fee due under the existing merger agreement NuPathe has entered with Endo Health Solutions (ENDP). Teva further stated that the Teva proposal will not require additional due diligence, that the Teva offer was unanimously approved by the Teva board of directors, and that there are no financing contingencies with the Teva proposal. NuPathe's board determined that the Teva proposal is :reasonably expected" to lead to a "Superior Proposal," but that pursuant to the terms of the existing merger agreement, NuPathe will continue to recommend that the company’s stockholders tender their shares in the offer by Endo.
News For PATH;TEVA;ENDP From The Last 14 Days
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January 27, 2015
09:35 EDTENDPAuxilium shareholders approve merger with Endo
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09:10 EDTTEVAGevo announces Supreme Court rules in favor of Gevo
Gevo (GEVO) announced that the U.S. Supreme Court ruled in Gevo's favor and overturned an earlier Federal Circuit Court of Appeals ruling on the interpretation of key patent claims. The result is that Gevo's victory in the Delaware District Court is reinstated, and that the case has been remanded back to the Appeals Court for consideration in light of the new standard of appellate review that was decided in the Teva Pharmaceuticals USA, Inc., v. Sandoz, Inc. case last week. In Teva (TEVA), the Supreme Court ruled that the Appeals Court must apply a more stringent "clear error" standard of review, rather than a "de novo" standard of review. In Gevo's case, the Appeals Court must now apply the "clear error" standard of review and cannot set aside the Delaware District Court's findings of fact in Gevo's favor unless they were clearly erroneous. The Supreme Court's decision effectively reinstates Gevo's victory at the District Court where a final judgment of non-infringement was entered in Gevo's favor following the acknowledgment by Butamax Advanced Biofuels LLC that Gevo does not infringe Butamax's Patent Nos. 7,851,188 and 7,993,889.
January 26, 2015
15:24 EDTTEVATeva confirms U.S. approval of AstraZeneca's Nexium generic
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14:15 EDTTEVATeva unit wins FDA approval for Nexium generic
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January 23, 2015
16:08 EDTTEVATeva volatility elevated, Pfizer approached late last year, Bloomberg says
Teva (TEVA) overall option implied volatility of 25 compares to its 26-week average of 23 according to Track Data, suggesting large price movement into Pfizer (PFE) approach late last year, Bloomberg says.
16:04 EDTTEVATeva rebuffed Pfizer approach late last year, Bloomberg says
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January 22, 2015
14:03 EDTENDPAuxilium to host special shareholder meeting
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January 21, 2015
18:27 EDTENDPOn The Fly: After Hours Movers
UP AFTER EARNINGS: eBay (EBAY), up 2.9%... United Rentals (URI), up 1.5%. ALSO HIGHER: Minerva (NERV), up 16.1% after reporting positive Phase 1 data with MIN-202... Endo (ENDP), up 3.1% after it was announced that Endo will replace Covidien in S&P 500 as of 1/26 close... Covidien (COV) is up 1%. DOWN AFTER EARNINGS: F5 Networks (FFIV), down 15.8%... Xilinx (XLNX), down 6.1%... Discover Financial Services (DFS), down 3.3%... American Express (AXP), down 2.2%. ALSO LOWER: BioMarin (BMRN), down 2.5% after filing to sell 7.25M shares of common stock... Kinder Morgan (KMI), down 1.9% after announcing that it will acquire Hiland Partners for approximately $3B and reporting fourth quarter results... Cisco (CSCO), down 1.4% after Bloomberg reported that Oracle's (ORCL) Ellison said that Oracle's new Virtual Compute Appliance is cheaper than Cisco's product.
18:06 EDTENDPS&P announces changes to the S&P 500, MidCap 400, SmallCap 600 indices
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17:19 EDTENDPBoston Beer to replace Endo in S&P 400 as of 1/26 close
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17:18 EDTENDPEndo to replace Covidien in S&P 500 as of 1/26 close
08:38 EDTTEVAMomenta announces Supreme Court decision to remand generic Copaxone back to CAFC
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January 20, 2015
14:37 EDTTEVATeva generic competition to Copaxone pushed out by ruling, says BMO Capital
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12:56 EDTTEVAMylan says continues to believe '808 patent is 'invalid'
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11:29 EDTTEVATeva says Supreme Court reverses circuit court judgment on Copaxone 20 mg/mL
Teva Pharmaceutical announced the U.S. Supreme Court’s decision in Teva Pharmaceuticals USA, Inc. et al. Petitioners v. Sandoz Inc. et al. that reversed the Federal Circuit Court’s judgment of invalidity of Teva’s ‘808 patent for COPAXONE 20 mg/mL. The Supreme Court remanded the case to the Federal Circuit for further review in light of the applicable standard the Supreme Court laid out for appellate review of claim construction. A ruling last year by the U.S. Court of Appeals for the Federal Circuit upheld four Teva patents that expired in May 2014, while invalidating the ‘808 patent that is set to expire on September 1, 2015. “We are encouraged by the U.S. Supreme Court’s Decision and look forward to the Federal Circuit’s review. We will continue to explore all available avenues to protect our intellectual property for COPAXONE 20mg/mL,” said Erez Vigodman, President and CEO of Teva. “There is currently no FDA-approved follow-on version of Teva’s COPAXONE. We are encouraged by the FDA’s willingness to date to have dialogue regarding the complexities of COPAXONE 20 mg/mL and the potential limitations and other unknowns of purported follow-on versions,” added Rob Koremans, MD, President and CEO of Global Specialty Medicines at Teva.
10:45 EDTTEVATeva spikes, retraces, after win in Copaxone patent case
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10:40 EDTTEVAMomenta Pharma sinks after Supreme Court rules on Copaxone
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10:35 EDTTEVATeva rises after patent ruling upheld by Supreme Court
The Supreme Court upheld a lower court ruling related to generic versions of Teva's Copaxone drug. In the ruling, the court wrote that "When reviewing a district court’s resolution of subsidiary factual matters made in the course of its construction of a patent claim, the Federal Circuit must apply a “clear error,” not a de novo, standard of review." Teva shares are up 1.5% to $58.58 in early trading after the ruling. Reference Link
07:00 EDTENDPEndo price target raised to $98 from $86 at Piper Jaffray
Piper Jaffray raised its price target for Endo shares to $98 saying Xiaflex's market expansion opportunities are not fully appreciated by the broader market. It keeps an Overweight rating on the stock.

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