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Stock Market & Financial Investment News

News Breaks
May 12, 2014
08:25 EDTBAYRY, PTLA, JNJPortola Pharmaceuticals begins enrollment in Phase 3 study for Xarelto
Portola Pharmaceuticals (PTLA) announced that enrollment has begun in a Phase 3 study to evaluate the safety and efficacy of andexanet alfa, the company's investigational recombinant Factor Xa inhibitor reversal agent, with Bayer (BAYRY) and Janssen Pharmaceuticals' (JNJ) Factor Xa inhibitor XARELTO. Portola is developing andexanet alfa, an FDA-designated breakthrough therapy, as a potential first-in-class agent to reverse the anticoagulation activity of Factor Xa inhibitor-treated patients who are experiencing a major bleeding episode or who require emergency surgery.
News For PTLA;BAYRY;JNJ From The Last 14 Days
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July 29, 2015
05:47 EDTBAYRYBayer cuts FY15 sales to EUR 47B from EUR 48B- EUR 49B
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05:42 EDTBAYRYBayer reports Q2 Healthcare sales up 28% to EUR 5.91B
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05:40 EDTBAYRYBayer reports Q2 net income EUR 1.52B vs. EUR 953M last year
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July 28, 2015
07:05 EDTJNJMacroGenics reports MGD011 advances into clinical development
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July 27, 2015
10:40 EDTJNJLeerink major pharma analyst holds an analyst/industry conference call
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July 23, 2015
17:51 EDTJNJJanssen submits sNDA to update label for Olysio
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July 22, 2015
10:15 EDTJNJThoratec downgraded to Market Perform from Outperform at Northland
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July 20, 2015
10:00 EDTBAYRYOn The Fly: Analyst Downgrade Summary
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08:38 EDTBAYRYAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
07:30 EDTBAYRYZoetis 'highly likely' to merge with Bayer unit in 2016, says Jefferies
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05:21 EDTBAYRYBayer downgraded to Hold from Buy at Jefferies
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