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Stock Market & Financial Investment News

News For PFE;ACT;JNJ;NVS;TEVA;MYL;GNK;BMY;GSK From The Last 14 Days
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April 24, 2015
12:12 EDTMYLPerrigo rejects new Mylan offer, says lower than previous proposal
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12:10 EDTMYLPerrigo rejects Mylan takeover offer
12:02 EDTMYL, TEVAPerrigo plans to reject Mylan new offer, Bloomberg reports
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11:29 EDTMYLPerrigo could reject Mylan bid as early as today, Bloomberg reports
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09:55 EDTMYLMylan offer for Perrigo currently valued near $222 per share
Shares of Mylan (MYL) are little change in morning trading at $74. At 2.2 Mylan shares plus $60 cash, Mylan's formal offer to acquire Perrigo for $60 cash and 2.2 Mylan shares per Perrigo share equates to about $222 per Perrigo share, using Mylan's current share price. Perrigo shares are down about 1% to $199.15 in early trading after Mylan made its offer formal under Irish takeover law via a Rule 2.5 announcement.
09:49 EDTMYLMylan says 'steadfast' in offer to acquire Perrigo
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09:48 EDTMYLMylan offers $60 cash, 2.2 Mylan shares for each Perrigo share in buyout offer
Mylan (MYL) issued a Rule 2.4 announcement under the Irish Takeover Rules stating that it had made a non-binding proposal to acquire Perrigo (PRGO) for $205 in a combination of cash and Mylan stock for each Perrigo share. The Rule 2.4 announcement followed the delivery of that proposal to Perrigo's Chairman on April 6. Mylan issued a Rule 2.5 announcement setting forth its legally-binding commitment to commence an offer for the entire issued and to be issued share capital of Perrigo. Under the terms of the offer announced today, Perrigo shareholders will receive $60 in cash and 2.2 Mylan ordinary shares for each Perrigo ordinary share. Mylan expects the combination will result in at least $800M of annual pre-tax operational synergies by the end of year four following the consummation of the offer. The transaction is expected to be immediately accretive to EPS on a fully-synergized basis and it is anticipated that substantial free cash flows will drive rapid deleveraging and enhanced reinvestment into the business, with the combined company expected to maintain its investment grade credit profile. "The synergy estimate was prepared using a sound process and was independently reported on by the Irish firm of PricewaterhouseCoopers and Goldman Sachs International in accordance with the requirements of the Irish Takeover Rules," Mylan said.
09:46 EDTMYLMylan to start formal offer to buy Perrigo for $60 cash, 2.2 Mylan shares
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09:27 EDTACTActavis' Dalvance shows positive Phase 3 results for skin infections
Actavis announced positive top-line results for study DUR001-303, a phase 3 study comparing a single 1500 mg dose of Dalvance with the same total dose given as two-doses one week apart, for the treatment of acute bacterial skin and skin structure infections caused by susceptible Gram-positive bacteria, including methicillin resistant Staphylococcus aureus. Preliminary top-line data demonstrated the 1500 mg single-dose of Dalvance achieved its primary endpoint of non-inferiority to the two-dose regimen at 48-72 hours after initiation of therapy. Actavis plans to file a supplemental New Drug Application with these data in Q3.
08:09 EDTBMYBristol-Myers May weekly volatility elevated into Q1 and outlook
Bristol-Myers May weekly call option implied volatility is at 27, May is at 21, June is at 22, September is at 22; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 28.
07:47 EDTBMYBristol-Myers receives positive CHMP opinion in EU for Opdivo
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07:24 EDTMYL, TEVAMylan price target raised to $82 from $65 at Deutsche Bank
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07:11 EDTGSKAgenus: GSK's RTS,S vaccine showed statistically significant results in study
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07:09 EDTACTCipher Pharmaceuticals announces Markman hearing in Absorica patent suit
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05:53 EDTMYLStocks with implied volatility movement; SFUL MYL
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April 23, 2015
14:20 EDTJNJEarnings Watch: Google up close to 8.5% since last earnings report
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14:03 EDTTEVAActive Biotech AB, Teva enroll first patient in Phase 2 study of Laquinimod
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12:32 EDTTEVA, MYLTeva working with FTC on path toward Mylan deal approval, CT Financial News says
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11:02 EDTJNJJohnson & Johnson increases dividend by 7.1% to 75c
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10:02 EDTJNJAbbVie says communication with Johnson & Johnson has been 'very positive'
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