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Stock Market & Financial Investment News

News Breaks
August 8, 2014
14:54 EDTDEPO, PDLIPDL BioPharma says concluding talks with SEC on Depomed deal accounting
PDL BioPharma (PDLI) disclosed in a regulatory filing that the company is currently concluding discussions with the SEC staff after receiving a comment letter to the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, that requested additional information about the company’s accounting for the royalty purchase and sale agreement with Depomed (DEPO). "The Company’s responses to those comments may affect the narrative disclosures and financial statements included in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2014. All of the comments cannot be resolved by the prescribed due date for the Current Quarterly Report without unreasonable effort or expense," PDL stated. The company intends to file its current quarterly report by not later than Monday, August 18, PDL added.
News For PDLI;DEPO From The Last 14 Days
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March 30, 2015
11:18 EDTPDLIPDL BioPharma rises after Cerdelga approved in Japan
Genzyme, a Sanofi (SNY) company, announced earlier that the Ministry of Health, Labor and Welfare has granted marketing approval for Cerdelga as oral therapy for the treatment of adults with Gaucher disease type 1 in Japan. PDL BioPharma (PDLI) announced on November 6 that it has acquired a portion of the University of Michigan's worldwide royalty interest in Cerdelga for $65.6M. Under the terms of the royalty agreement, PDL will receive 75% of all royalty payments due under U-M's license agreement with Genzyme until expiration of the licensed patents, excluding any patent term extension. The royalty rate used to calculate the royalties to be paid by Genzyme to U-M was not disclosed by the parties. Shares of PDL BioPharma are up 12c, or 1.8%, to $7.16 in morning trading.
March 19, 2015
10:02 EDTDEPOOn The Fly: Analyst Downgrade Summary
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08:22 EDTDEPODepomed downgraded to Neutral at Janney Capital
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08:16 EDTDEPODepomed downgraded to Neutral from Buy at Janney Capital
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March 17, 2015
08:35 EDTDEPODepomed announces expiration of waiting period to acquire rights of NUCYNTA
Depomed announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired with respect to Depomed's pending acquisition of U.S. rights to the NUCYNTA franchise from Janssen Pharmaceuticals. The termination of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending acquisition, which remains subject to completion of Depomed's previously announced financing and other customary closing conditions.

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