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News For TEVA;NVS From The Last 14 Days
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November 23, 2015
05:37 EDTNVSNovartis receives two EU approvals for Cosentyx
Novartis announced today that the European Commission has approved Cosentyx for the treatment of people living with ankylosing spondylitis, or AS, and psoriatic arthritis, or PsA. For AS, this is the first new treatment advance in 16 years since the development of the current standard of care, anti-tumor necrosis factor, or anti-TNF, therapy. Cosentyx is the first in a new class of medicines called interleukin-17A, or IL-17A, inhibitors to be made available in Europe for AS and PsA. These approvals follow on from the earlier EC approval of Cosentyx for the first-line treatment of patients with moderate-to-severe plaque psoriasis. AS and PsA are common inflammatory joint conditions affecting approximately five million people in Europe, yet they remain significantly under-diagnosed and under-treated. If not treated effectively, they can lead to irreversible damage to the spine and joints, causing life-long pain and disability. New treatments are urgently needed for both conditions as many patients do not respond well to existing treatments, with up to 40% not responding sufficiently to anti-TNFs.
05:16 EDTTEVATeva upgraded to Buy from Neutral at Goldman
Goldman Sachs analyst Jami Rubin upgraded Teva Pharmaceuticals (TEVA) to Buy saying the setup for 2016 is attractive following the pullback in shares that began in late July. Several share overhangs will be removed in the near-term, with a likely equity offering ahead of Allergan (AGN) genetics unit purchase and recent quantification of Copaxone generic downside risk, Rubin tells investors in a research note. The analyst keeps a $75 price target for Teva. The generic pharmaceutical giant closed Friday up 68c to $61.72.
November 20, 2015
17:16 EDTNVSNovartis announces FDA approval of Tafinlar + Mekinist
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14:41 EDTNVSNY AG leads team of states in $390M settlement with Novartis over kickbacks
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14:00 EDTNVSNY AG leads team of states in $390M settlement with Novartis over kickbacks
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10:52 EDTNVSFDA approves new oral medication to treat multiple myeloma
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November 19, 2015
13:52 EDTTEVAMylan announces U.S. launch of generic Adderall tablets
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09:02 EDTTEVATeva, UCL start unique brain imaging study
Teva Pharmaceuticals and University College London, or UCL, announced the start of a "unique" study, combining state-of-the-art brain imaging with key biomarkers, aimed at building a better understanding of the role of inflammation in neurodegenerative disease and potentially a new approach in its early diagnosis and treatment. The Pilot Longitudinal Study in Alzheimer's Disease of Central Markers of Microglial Activation, or PADMMA, study is a two-year study in 20 patients that will assess, using PET imaging, the prevalence and pattern of activation of a specific type of cell, called microglia, in the central nervous system in people with certain symptoms of neurodegenerative disease. It is key demonstration of Teva's commitment towards dementia research made following the UK Government's Dementia Summit, spearheaded by UK Prime Minister David Cameron.
08:02 EDTTEVATeva reports 'positive' results from Phase III Asthma treatment trials
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November 18, 2015
08:11 EDTNVSIMS Health forecasts global drug spending to increase 30% by 2020 to $1.4T
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07:43 EDTNVS, TEVAJefferies to hold a conference
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November 17, 2015
16:38 EDTNVSAduro Biotech to delay filing 10-Q
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07:47 EDTTEVALeerink sees M&A accelerating for central nervous system assets
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07:34 EDTNVSOphthotech to hold a conference call
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06:08 EDTNVSRoche subsidiary to participate in Ophthotech and Novartis agreement
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05:24 EDTNVSNovartis announces Phase III FLAME head-to-head trial met primary endpoint
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November 16, 2015
16:53 EDTTEVAPaulson reduced stake in Valeant
Paulson & Co. gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Perrigo (PRGO), CIT Group (CIT), Precision Castparts (PCP), Cameron (CAM), and Altera (ALTR). INCREASED STAKES: Teva (TEVA), Post Holdings (POST), Starwood Hotels (HOT), LivaNova (LIVN), and Synergy Pharmaceuticals (SGYP). DECREASED STAKES: Valeant (VRX), Shire (SHPG), Whiting Petroleum (WLL), Computer Sciences (CSC), and Oasis Petroleum (OAS). LIQUIDATED STAKES: Houghton Mifflin Harcourt (HMHC), Broadcom (BRCM), and Sprint (S).
November 13, 2015
10:49 EDTTEVAMylan jumps, Perrigo plunges after hostile takeover bid fails
Shares of Mylan (MYL) jumped after the company's offer to acquire Perrigo (PRGO) failed. Perrigo shares fell after the news. WHAT'S NEW: Mylan's approximately $26B hostile takeover offer for Perrigo officially fell through Friday morning, ending a seven-month ordeal between the two companies. Mylan said that only about 40% of Perrigo's shares were tendered by the company's stockholders, falling short of the 50% required for an acquisition, forcing the offer to lapse after failing to meet its goal by the established deadline. In response to the news, Perrigo Chief Executive Officer Joseph Papa said he was "delighted" that his company's shareholders rejected the offer. "We have said all along that this offer from Mylan was a bad deal for our shareholders, as it significantly undervalued our durable business model and industry-leading future growth prospects," Papa said. Perrigo added that it will immediately commence its previously announced $2B share buyback and that it intends to complete $500M of the planned repurchase by the end of the year. WHAT'S NOTABLE: On July 27, Teva (TEVA) withdrew a takeover offer for Mylan amid Mylan's talks with Perrigo. The Israeli pharmaceutical company opted instead to purchase Allergan's (AGN) generics business. Commenting on its failure to buy Perrigo, Mylan Executive Chairman Robert Coury said in a statement that while the company viewed Perrigo as a "unique and exciting company," it was not required for the future success of the company. Coury said, "We are well-positioned to quickly execute on the next strategic, value-enhancing opportunities for our business, some of which we have already identified." STREET RESEARCH: Citi analyst Liav Abraham upgraded Mylan to Buy and raised her price target for shares to $59 from $52, saying that an overhang has been removed since the company's hostile attempt to buy Perrigo has fallen through. Abraham argued that a combination of the two companies would have been both destructive to both earnings and value for Mylan and that the failed bid will increase management's optionality to pursue other value-enhancing opportunities and enable investors to focus on the company's base business. In addition, RBC Capital Markets analyst Randall Stanicky confirmed a Sector Perform rating for both Mylan and Perrigo with price targets of $60 and $176, respectively. Stanicky said he expects Mylan's stock to gain 10%-15% towards $50 as a result of the news, while Perrigo will probably see a pull-back into the low $140s. The analyst added that the removal of the Mylan bid will drive initial weakness for Perrigo's shares but that the stock can settle close to its current levels. PRICE ACTION: In morning trading, Mylan rallied 12.5% to $48.60 and Perrigo fell 6.92% to $145.72. OTHERS TO WATCH: Teva shares trading in New York increased 0.26%, Allergan was up 0.66%, and Endo (ENDP), with which Reuters reported Perrigo held unsuccessful takeover talks, gained 5.56%.
November 11, 2015
07:56 EDTNVSBoston Biotech Conferences to hold a conference
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07:02 EDTTEVAEagle expects to report RYANODEX study results over next few weeks
"We are preparing for three important events at Eagle over the next several weeks, including reporting the results of our clinical study for RYANODEX in Exertional Heat Stroke shortly," said Scott Tarriff, president and CEO of Eagle Pharmaceuticals (EGRX). "Thereafter, we are awaiting approval of two products with December PDUFA dates: our rapidly infused bendamustine product, and our recently licensed Docetaxel Injection Concentrate, Non-Alcohol Formula, which has the potential to be the first alcohol-free docetaxel formulation approved in the US. Looking further ahead, we may receive approval of RTU bivalirudin in March 2016 and our tentatively approved liquid bendamustine in the 500ml bag on May 1st, 2016. Regarding rapidly infused bendamustine, we believe our commercial partner, Teva (TEVA), will convert most or all of the market quickly in what we expect will be a promising launch in 2016. Regarding our other products, with a highly-talented commercial team now in place, we are able to capitalize on the exciting opportunities that lie ahead in order to deliver long term value to shareholders."
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