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Stock Market & Financial Investment News

News Breaks
March 26, 2013
06:32 EDTGSK, MYL, JNJ, BMY, TEVA, ACT, GNK, NVS, PFESome justices seem skeptical about payments to generic drug firms, NY Times says
Several Supreme Court justices seemed skeptical about the practice of brand name pharmaceutical companies paying generic companies to keep their cheaper drugs off the market for a longer time, according to The New York Times. Some of the justices appeared to be interested in issuing a narrow ruling in the case they are hearing regarding the issue that would not create a precedent, the newspaper added. Reference Link
News For PFE;ACT;JNJ;NVS;TEVA;MYL;GNK;BMY;GSK From The Last 14 Days
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November 19, 2014
09:04 EDTJNJJohnson & Johnson submits NDA for three-month paliperidone palmitate
Janssen Research & Development, a Johnson & Johnson company, announced the submission of a New Drug Application, or NDA, for three-month atypical antipsychotic paliperidone palmitate to the FDA. The NDA seeks approval for the medication as a treatment for schizophrenia in adults. If approved, it will be the first and only long-acting atypical antipsychotic that has a four times a year dosing schedule.
07:52 EDTGSK, PFE, BMYInforma Business Information to hold a conference
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06:30 EDTJNJJohnson & Johnson, Boston Scientific trial set to start tomorrow, Reuters says
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06:07 EDTBMYBristol-Myers' Opdivo for melanoma shows positive Phase 3 results
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November 18, 2014
16:26 EDTACTOn The Fly: Closing Wrap
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13:34 EDTACTActavis rallies after analysts push targets north of $300
Shares of drug maker Actavis (ACT) are climbing after a number of analysts cheered the company's acquisition of Allergan (AGN), and activist investor Bill Ackman said he supported the transaction, according to CNBC. WHAT'S NEW: Piper Jaffray analyst David Amsellem responded to Actavis' acquisition of Allergan by hiking his price target on the name to $338 from $280. The combined company has durable assets, a cost-efficient infrastructure, and the willingness to maintain a strong R&D infrastructure, contended Amsellem. Actavis' price-to-earnings ratio is likely to increase, since it has durable assets, while it his very likely to sustain growth of at least 10%, the analyst added. He kept an Overweight rating on the shares. Also extremely upbeat on Actavis following the deal was UBS analyst Marc Goodman. Actavis provides "the best value in the sector" following the deal, as the transaction should accelerate the company's revenue and profit growth, Goodman believes. That growth, in turn, should propel Actavis' price-to-earnings multiple higher, the analyst predicted. He hiked his price target on Actavis to $333 from $278 and kept a Buy rating on the stock. Meanwhile, Pershing Square's Bill Ackman said that he supported Actavis' takeover of Allergan, CNBC reported this morning. The owner of a large stake in Allergan, Ackman had been trying to get the drug maker to sell itself to Valeant (VRX). The activist investor said today that he would no longer push Allergan to hold a special meeting on December 18, CNBC noted. PRICE ACTION: In mid-afternoon trading, Actavis surged 7.5% to $266.50, while Allergan gained 2% to $214.
11:22 EDTTEVATeva patent victory over Warner Chilcott, Roche affirmed
The U.S. Court of Appeals for the Federal Circuit ruled that a district court was correct to grant summary judgment to Teva (TEVA) in a patent dispute with Warner Chilcott and Roche (RHHBY) over patents related to osteoporosis drug risedronate.
10:26 EDTACTAckman to withdraw Allergan special meeting request, CNBC reports
Bill Ackman said he will withdraw his request for an Allergan (AGN) special meeting and that he supports the company's planned transaction with Actavis (ACT), according to CNBC's Scott Wapner. Reference Link
10:08 EDTTEVATeva calls active on renewed takeover chatter
Teva November 57 and 58 calls are active on total call volume of 21K contracts (2K puts) following renewed takeover chatter. November call option implied volatility is at 18, December is at 19; compared to its 26-week average of 24 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
09:47 EDTTEVARumor: Teva moves up on renewed takeover chatter
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08:59 EDTACTActavis deal positive, says Sterne Agee
Sterne Agee believes that the friendly nature of Actavis' (ACT) takeover of Allergan (AGN) will enable the combined companies to achieve greater revenue growth. The firm thinks the deal will enable the companies to integrate seamlessly, and it thinks that CEO Brent Saunders' experience at Forest and Bausch & Lomb will help him manage Allergan's leading ophthalmology franchises. Sterne keeps a Buy rating on Actavis.
08:33 EDTPFEPfizer announces availability of Trumenba vaccine
Pfizer announced hat TRUMENBA, the first and only FDA-approved vaccine for active immunization to prevent invasive disease caused by Neisseria meningitidis serogroup B in individuals 10 through 25 years of age, is now available for order by healthcare providers in the United States.
08:00 EDTTEVATeva launches liquid formulation of TREANDA injection in the U.S.
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07:48 EDTACTValeant not likely to raise bid for Allergan, says Canaccord
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07:41 EDTACTActavis provides best value in pharmaceutical sector, says UBS
UBS believes Actavis (ACT) provides the best value in the pharmaceutical sector following its deal to acquire Allergan (AGN). The firm pointed to the double digit accretion to earnings, synergies, and very attractive current valuation. UBS reiterated its Buy rating on Acatvis and raised its price target to $333 from $278.
07:29 EDTPFEPfizer less likely to pursue AstraZeneca after PD-L1 deal, says JPMorgan
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07:20 EDTGSKEuro Organization for Research & Treatment of Cancer co-hosts a symposium
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07:18 EDTPFEWoodford confident in Astra, sees 50% chance of new Pfizer bid, Reuters reports
Investment manager Neil Woodford of Woodford Investment Management said he now has an even stronger belief in AstraZeneca (AZN), citing the company's strong product pipeline, and put the chances of a new takeover bid from Pfizer (PFE) at 50/50, reported Reuters, citing a statement from Woodford. Reference Link
06:40 EDTACTActavis price target raised to $338 from $280 at Piper Jaffray
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06:39 EDTPFEAstraZeneca: 'Hard to comment' on whether Pfizer will come back, Reuters reports
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