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Stock Market & Financial Investment News

News Breaks
May 14, 2014
07:32 EDTPTX, POZN, GSKPernix 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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May 28, 2015
10:09 EDTPTXPernix Therapeutics management to meet with Oppenheimer
Meeting to be held in Europe on June 1 hosted by Oppenheimer.
May 26, 2015
08:14 EDTGSKBoston Biotech Conferences to hold a conference
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May 22, 2015
10:52 EDTGSKJPMorgan says Actavis shares cheap compared to peers
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May 21, 2015
12:40 EDTPOZNHayman's Bass requests review of POZEN patents
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07:37 EDTGSKPfizer replaces AbbVie as top global pharma pick at Jefferies
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May 20, 2015
07:46 EDTGSKDeutsche Bank positive on potential Pfizer, GSK merger
Deutsche Bank analyst Gregg Gilbert believes a large foreign deal for Pfizer (PFE) may make sense and says a buyout of GlaxoSmithKline (GSK) could be "materially" accretive to earnings while improving the company's tax situation over time. Gilbert assumes a $60 per share buyout price for GlaxoSmithKline in a research note this morning titled "Introducing 'PfizerKline'". The stock closed yesterday up 2c to $44.68. Gilbert reiterates a Buy rating on Pfizer with a $41 price target. Shares ended yesterday up 23c to $34.21.
May 19, 2015
09:25 EDTGSKGlaxoSmithKline asthma drug overused, risks underappreciated, ProPublica says
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06:55 EDTGSKGenocea could be takeover target after data, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff expects Genocea Biosciences (GNCA) will report positive Phase II GEN-003 post-immunization results late in Q2. GEN-003 is a therapeutic vaccine for genital herpes targeting Herpes Simplex Virus Type 2. Positive GEN-003 data could position Genocea as a potential acquisition target by a larger vaccine player, Tenthoff tells investors today in a research note. Large vaccine makers include Sanofi (SNY), Merck (MRK), GlaxoSmithKline (GSK), Pfizer (PFE) and Novartis (NVS). The analyst reiterates an Overweight rating on Genocea with a $14 price target. Shares of the clinical-stage vaccine developer with a $227M market capitalization closed yesterday up 83c to $10.22.

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