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Stock Market & Financial Investment News

News Breaks
May 12, 2014
09:25 EDTIPXL, PRGOPerrigo announces FDA approval of generic version of Astepro nasal spray
Perrigo (PRGO) announced that it has received final approval from the FDA on its Abbreviated New Drug Application for azelastine hydrochloride nasal spray. The ANDA involved contributions from both Perrigo and Impax Laboratories (IPXL), who will share certain costs and benefits of this product. Perrigo and Impax continue to be in first to file Hatch Waxman patent litigation with Meda Pharmaceuticals in the United States District Court for the District of New Jersey. Perrigo has commenced shipment of product to its customers. Annual sales were approximately $97M annually, as measured by Symphony Health Solutions.
News For PRGO;IPXL From The Last 14 Days
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February 12, 2016
08:46 EDTPRGOAkorn remains a potential takeout target, says RBC Capital
RBC Capital analyst Randall Stanicky says he remains optimistic that Akorn (AKRX) can complete the audit process by May 9 and that the company remains a potential takeout candidate despite one less near-term buyer in Mylan (MYL). Mylan's purchase of Meda puts a potential buyer on the sidelines for now, Stanicky tells investors in a research note. He had viewed Mylan as the most likely suitor followed by Perrigo (PRGO). Applying the price paid for Meda yields a $47 per share buyout price target for Akorn, the analyst notes. He lowered his price target for Akorn shares to $37 from $52 and keeps an Outperform rating on the name.
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
February 2, 2016
07:36 EDTIPXLImpax receives tentative FDA approval for generic Vytorin ANDA
Impax Laboratories announced that Impax has received tentative approval from the U.S. FDA for its Abbreviated New Drug Application for the generic version of the ezetimibe and simvastatin containing tablets, in 10 mg / 10 mg, 10 mg / 20 mg, 10 mg / 40 mg and 10 mg / 80 mg strengths. "We are pleased to receive tentative approval from the FDA for our generic version of Vytorin tablets," said Fred Wilkinson, President and CEO. "We will continue to work with the FDA to gain final approval upon the expiration of the U.S. patents and associated pediatric exclusivity on April 25, 2017, and are currently planning to be among the first generic products to market."

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