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News Breaks
August 20, 2014
08:04 EDTGSK, PTX, POZNPOZEN announces U.S. rights for Treximet acquired by Pernix Therapeutics
POZEN (POZN) announced that the acquisition of all of GlaxoSmithKline’s (GSK) rights to Treximet have been acquired by Pernix Therapeutics Holdings (PTX). The previously announced transaction was contingent upon Pernix securing financing, which is now complete. As part of the divestiture, GSK has assigned the Product Development and Commercialization Agreement between POZEN and GSK to Pernix, and POZEN and Pernix have amended the agreement to address rights of the parties and future development. Under the amended agreement, Pernix will continue certain of GSK’s ongoing development activities and undertake certain new activities, for which POZEN will provide reasonable assistance. In addition, any restrictions on POZEN’s right to develop and commercialize additional certain dosage forms of sumatriptan / naproxen combinations outside of the United States have been eliminated, and POZEN may seek approval for these combinations on the basis of the approved U.S. New Drug Application. Pernix had also granted POZEN a warrant to purchase 500,000 shares of Pernix common stock at an exercise price equal to the closing market price on May 13, 2014. The common stock underlying the warrant will be registered by Pernix with the Securities and Exchange Commission. The warrant will be exercisable from August 20, 2014, the closing date of the divestiture, until February 28, 2018.
News For POZN;PTX;GSK From The Last 14 Days
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November 27, 2015
08:00 EDTGSKGlaxo has cut 40% of China sales reps in wake of scandal, Reuters reports
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07:34 EDTGSKGlaxoSmithKline starts phase III study of sirukumab in Giant Cell Arteritis
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November 25, 2015
11:29 EDTGSKStudy says Valeant, others exploding dermatology drug prices, WSJ reports
The JAMA Dermatology journal published a new study that found that retail prices of 19 dermatologic prescription drugs increased fivefold on average between 2009 and 2015, reported The Wall Street Journal. Targretin, marketed by Valeant (VRX), jumped to $30,320 this year from $15,708 last year and $1,687 in 2009, the study found, but "It's not just Valeant," said lead author Miranda Rosenberg. Prices for drugs made by GlaxoSmithKline (GSK) and Novartis (NVS) at least doubled or tripled over the same time frame, the report noted. Reference Link
November 24, 2015
11:16 EDTGSKAdaptimmune initiates Phase I/II trial of affinity enhanced T-cell therapy
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November 23, 2015
09:07 EDTPOZNPOZEN, Tribute provide update on pending combination
POZEN and Tribute Pharmaceuticals Canada provided an update on their pending combination transactions. The companies have reviewed the recent guidance from the U.S. Treasury's Notice 2015-79 issued on November 19 and its potential impact on the proposed transaction. POZEN and Tribute remain committed to combining their respective businesses and are considering a Canadian domicile for Aralez Pharmaceuticals, the new parent entity for the combined companies. With the planned business operations in Ireland, Canada and the United States, the Canadian domicile offers substantially similar financial, tax and competitive advantages to an Irish domicile, and will benefit from Tribute's business foundation and strong presence in Canada where Tribute was incorporated and from where it has always operated. The parties further believe that a Canadian domicile will be in compliance with the new Treasury Department Guidance and are working diligently and expeditiously on an alternative transaction structure that would be in the best interest of their respective securityholders, and the parties are further considering the Treasury Department Guidance as they continue to arrive at this alternative transaction structure.
08:08 EDTGSKIdera Pharmaceuticals announces partnership with GSK
Idera Pharmaceuticals (IDRA) announced it has entered into an exclusive worldwide collaboration and license agreement with GSK (GSK) to research, develop and commercialize selected molecules from Idera's 3rd generation antisense platform for the treatment of selected targets in renal disease. Under the terms of the agreement, Idera is eligible to receive approximately $100M in development and regulatory milestone payments, including a $2.5M upfront payment. Additionally, Idera is eligible to receive royalties on all sales upon commercialization at varying rates up to five percent on annual net sales in excess of $500M.
November 19, 2015
10:11 EDTPOZNHigh option volume stocks
November 18, 2015
08:11 EDTGSKIMS Health forecasts global drug spending to increase 30% by 2020 to $1.4T
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November 16, 2015
07:22 EDTPTXBrean Capital to hold a summit
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