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Stock Market & Financial Investment News

News Breaks
November 13, 2012
15:01 EDTCPIX, PRGOPerrigo confirms settlement of generic version of Acetadote patent litigation
Perrigo (TASE) announced that it has agreed to settle its Hatch-Waxman litigation relating to Acetadote injection brought by Cumberland Pharmaceuticals (CPIX). Under the terms of the settlement, Perrigo can launch a generic version of Acetadote injection upon expiration of the patents in May 2026. In addition, Perrigo entered into an agreement with Cumberland wherein Perrigo can distribute Cumberland sourced authorized generic product upon generic market formation. Acetadote injection, administered intravenously within 8 to 10 hours after ingestion of a potentially hepatotoxic quantity of acetaminophen, is indicated to prevent or lessen hepatic injury and has annual sales of approximately $41M, as measured by Wolters Kluwer. Perrigo's Chairman and CEO Joseph C. Papa stated, "This settlement is another example of our long-term investment in extended product development. As always, Perrigo is committed to making quality healthcare more affordable for our customers."
News For PRGO;CPIX From The Last 14 Days
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February 3, 2016
06:13 EDTPRGOPfizer insists Allergan deal won't be thwarted by U.S. politicians, FT says
Pfizer (PFE) has insisted that its $160B acquisition of Allergan (AGN) will not be stifled by political opposition, amid criticism that the deal will cost the U.S. Treasury billions of dollars in future tax revenues, the Financial Times reports. Pfizer CEO Ian Read also reiterated his intention to postpone until 2018 a decision on whether to break of the combined entity into two or three smaller companies, but has said that he would be open to offers for its generics unit, the report says. Mylan (MYL) has been connected to a potential acquisition of Pfizer's generic drugs business after it failed in its attempt to buy Perrigo (PRGO) last year, the report says. Reference Link
January 26, 2016
12:12 EDTPRGOEndo spike attributed to takeover speculation
The midday spike in shares of Endo International (ENDP) is being attributed to takeover speculation. Conjecture has Perrigo (PRGO) interested in a potential acquisition of Endo, trading sources tell The Fly. Shares of Endo are up $1.26 to $59.10 in midday trading. The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved.
January 25, 2016
08:31 EDTPRGOPerrigo completes acquisition of generic Retin-A from Matawan
Perrigo announced that it has completed the previously announced acquisition of a portfolio of generic dosage forms and strengths of Retin-A from Matawan Pharmaceuticals. Perrigo was the authorized generic distributor of these products from 2005 to 2013 before the agreement was terminated. Generic and brand sales of Retin-A, which is indicated for the topical treatment of acne vulgaris, were approximately $290M for the 12 months ending November 2015.The transaction is expected to immediately exceed Perrigo's ROIC threshold and add more than 20c in adjusted EPS within the first 12 months post-close after the exclusion of estimates for intangible amortization, transaction costs and integration related expenses. Perrigo Chairman and CEO Joseph C. Papa commented, "We are excited to complete this transaction; bringing a high barrier-to-entry, margin-enhancing product and greater reach to the extended topicals portfolio. This acquisition further strengthens Perrigo's strategic position as we continue our mission of providing Quality Affordable Healthcare Products(R) to consumers around the world."
08:05 EDTCPIXCumberland and Piramal launch co-promotion of Caldolor and Vaprisol
Piramal Critical Care, an integral business unit of Piramal Enterprises and Cumberland Pharmaceuticals announced that they have officially launched co-promotion of two of Cumberland's branded hospital products, Caldolor and Vaprisol throughout the U.S. Caldolor, ibuprofen, Injection is the first injectable product approved in this country for the treatment of pain and fever in adults. The brand recently received FDA approval for the management of pain and reduction of fever use in pediatric patients six months and older. Vaprisol is the only injectable brand available to treat hyponatremia, the most common electrolyte imbalance in U.S. hospitalized patients.

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