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Stock Market & Financial Investment News

News Breaks
July 9, 2014
07:38 EDTABBV, SHPGShire still has leverage, can get one more raise from AbbVie, Reuters contends
The selloff in shares of Shire (SHPG) and AbbVie (ABBV) yesterday following the latter's increased takeover offer suggests the market now expects a strong rebuttal from Shire, but "one plausible response" is a gently worded rejection that signals that another raised bid would be enough to secure a deal without a hostile play, contended Reuters Breakingviews columnists Neil Unmack and Robert Cyran. Shire’s board still has some leverage and can "probably extract one more increase in return for their recommendation," the authors believe. Reference Link
News For SHPG;ABBV From The Last 14 Days
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May 26, 2015
10:46 EDTABBVAnthem sued for denying coverage for Gilead's Harvoni, WSJ says
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08:32 EDTABBVAbbVie completes acquisition of Pharmacyclics
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08:14 EDTSHPGBoston Biotech Conferences to hold a conference
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08:03 EDTABBVInfinity Pharmaceuticals reports preclinical data for duvelisib
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May 22, 2015
08:00 EDTABBVAbbVie announces expiration of HSR waiting period for Pharmacyclics acquisition
AbbVie (ABBV) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for AbbVie's purchase of Pharmacyclics (PCYC) has expired today. The expiration satisfies the exchange offer condition with respect to the approvals and clearances required under antitrust laws. Assuming that the other customary exchange offer conditions are satisfied, including a minimum tender of at least a majority of outstanding Pharmacyclics shares, it is expected that the exchange offer to acquire all of the outstanding shares of common stock of Pharmacyclics will expire today at 5:00 p.m., New York City time, without any further extension.
May 21, 2015
08:04 EDTABBVAbbVie announces offer consideration for acquisition of Pharmacyclics
AbbVie (ABBV) announced the per share offer consideration amounts pursuant to its previously announced offer to acquire each outstanding share of common stock of Pharmacyclics (PCYC) for a mix of cash and AbbVie common stock, as described in the Registration Statement on Form S-4 filed with the SEC by AbbVie on March 23, 2015, as amended. The mixed consideration will consist of $152.25 in cash and 1.6639 shares of AbbVie common stock and, subject to proration, the all-stock consideration will consist of 3.9879 shares of AbbVie common stock.
07:58 EDTABBVDeutsche sees AbbVie shares getting to $80 over summer
Deutsche Bank sees pipeline readouts over the summer pushing shares of AbbVie to $80. The firm keeps a Buy rating on the stock with an $80 price target after meting with management.
07:37 EDTABBV, SHPGPfizer replaces AbbVie as top global pharma pick at Jefferies
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May 20, 2015
09:07 EDTABBVJohnson & Johnson says exploring eight new indications for Imbruvica
Imbruvica is jointly developed and commercialized by Pharmacyclics (PCYC) and Johnson & Johnson (JNJ) subsidiary Janssen Biotech. AbbVie (ABBV) is in the process of acquiring Pharmacyclics.
07:21 EDTABBVUBS to hold a conference
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May 19, 2015
08:57 EDTABBVLeerink biotech analyst holds an analyst/industry conference call
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May 15, 2015
16:46 EDTABBVAbbVie extends exchange offer to acquire Pharmacyclics
AbbVie (ABBV) announced that it has extended the expiration of its exchange offer to acquire all of the outstanding shares of common stock of Pharmacyclics (PCYC) to 5 p.m., New York City time, on May 22. The depositary of the exchange offer has advised that, as of 4:00 p.m., New York City time, on May 15, a total of approximately 42,822,941 shares of Pharmacyclics common stock were validly tendered and not properly withdrawn in the exchange offer. All other terms and conditions of the exchange offer remain unchanged.
11:08 EDTSHPGOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
10:29 EDTABBVAmerican Urological Association to hold an annual meeting
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09:45 EDTABBVAbbVie reports FDA orphan designation for Humira in treatment of HS
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May 14, 2015
13:12 EDTABBVAbbVie granted orphan status for Humira
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10:41 EDTABBVAnalysts upbeat on Amgen's Kyprolis after ASCO abstracts
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09:09 EDTABBVBristol-Myers down 1.3% after release of ASCO abstracts
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May 13, 2015
13:12 EDTABBVSen. Sanders urges VA to break patents on Gilead hepatitis C drugs
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May 12, 2015
07:52 EDTSHPGLeerink to hold a tour
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