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Stock Market & Financial Investment News

News Breaks
May 14, 2014
07:32 EDTPTX, GSK, POZNPernix Therapeutics to acquire TREXIMET tablets for migrain from GlaxoSmithKline
Pernix Therapeutics Holdings (PTX) announced that it has signed an agreement with GlaxoSmithKline (GSK) to acquire the U.S rights to Treximet for the acute treatment of migraine attacks with or without aura in adults. Pernix’s team of approximately 90 specialty sales professionals will support the sales and marketing of Treximet. The transaction: Adds immediate revenues and earnings, FY13 Treximet net sales $78.7M; Leverages Pernix’s existing sales presence and experience across psychiatry and neurology customers; Expected to nearly double Pernix revenues and provide EBITDA margins in excess of 30% on a FY14 pro forma basis; Pernix estimates pro forma FY15 total company revenues will exceed $230M with an EBITDA margin of over 40%. Pernix will make an upfront payment to GSK of $250M for the U.S rights to Treximet. GSK will assign to Pernix the Product Development and Commercialization Agreement between GSK and POZEN (POZN). POZEN and Pernix will amend the PDC Agreement to facilitate further development of Treximet. Pernix expects to begin sales of Treximet immediately following the closing of the transaction with its approximately 90 sales professionals to specific targets in the Neurology, Psychiatry and the Primary Care audiences. Pernix also plans to seek an extension of the exclusivity of Treximet with the first ever pediatric indication for any sumatriptan treatment, expected to file by the end of 2014, as well as additional life-cycle opportunities that are currently being explored. Pernix will pay GSK additional consideration of $17M upon receipt of updated FDA Written Request for pediatric exclusivity.
News For PTX;GSK;POZN From The Last 14 Days
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October 21, 2014
11:04 EDTGSKGlaxoSmithKline receives orphan status for dabrafenib
The FDA granted GlaxoSmithKline orphan status for dabrafenib, its possible treatment of patients with BRAF mutation positive non-small cell lung cancer.
07:06 EDTGSKFierce Biotech to hold a breakfast meeting
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October 20, 2014
09:09 EDTGSKEMA encourages applications for orphan designation for Ebola treatments
The European Medicines Agency encourages developers of treatments or vaccines against Ebola to apply for orphan designation. Applications for orphan designation of Ebola medicines will be treated as a priority and EMA has committed to fast-tracking their evaluation, the regulator announced. Drug companies that are working on experimental Ebola vaccines and treatments include Tekmira (TKMR), Sarepta (SRPT), BioCryst (BCRX), Chimerix (CMRX), NewLink Genetics (NLNK) and GlaxoSmithKline (GSK).
07:19 EDTGSKIBC Life Sciences to hold a conference
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October 17, 2014
14:50 EDTGSKBARDA asks labs to ramp up Zmapp production, Reuters says
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11:17 EDTGSKGSK says Ebola vaccine too late for current epidemic, BBC reports
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October 14, 2014
13:09 EDTGSKGlaxoSmithKline seeks binding bids for mature drugs, Reuters reports
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11:23 EDTGSKBIND Therapeutics and The Conference Forum hold a conference
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11:19 EDTGSKNIH says several potential Ebola treatments under development
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10:10 EDTGSKNIH director says supporting BioCryst, Chimerix Ebola treatments
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06:31 EDTPTXPernix Therapeutics management to meet with Needham
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October 13, 2014
07:12 EDTGSKOligonucleotide Therapeutics Society to hold annual meeting
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October 9, 2014
07:02 EDTGSKIsis Pharmaceuticals receives $18M milestone payment from GlaxoSmithKline
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October 8, 2014
06:11 EDTGSKNovartis says expects three executive committee members to leave
Novartis (NVS) confirmed that following completion of the transactions with GlaxoSmithKline (GSK) and Eli Lilly and Company (LLY) in the coming months, that the three business leaders of the Novartis divisions at the center of the transaction will leave the Executive Committee of Novartis. The expected changes to the ECN are subject to the closing of the transactions announced on April 22 - Novartis expects the transaction with GSK to be completed in the first half of 2015, and the transaction with Eli Lilly for its Animal Health Business to close in the first quarter of 2015. George Gunn, currently Division Head, Novartis Animal Health, will reach his contractual retirement age in July 2015 and will retire from Novartis. Upon closing of the Animal Health transaction with Lilly he will leave the ECN. Brian McNamara, currently Division Head, Novartis OTC, will transition to GSK as Head of Americas and Europe for the consumer health businesses, reporting to the President of GSK Consumer Healthcare, effective at closing of the transaction. Andrin Oswald, currently Division Head, Novartis Vaccines, will be leaving Novartis to pursue other opportunities following closing of the transaction with GSK.

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