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Stock Market & Financial Investment News

News Breaks
June 25, 2014
05:32 EDTSHPG, MYL, ACT, NVSShire says New Jersey court found Vyvanse patents infringed
Shire announces that Judge Stanley Chesler of the U.S. District Court for the District of New Jersey granted Shire's summary judgment motion in a patent infringement lawsuit, holding that certain claims of the patents protecting Vyvanse were both infringed and valid. The ruling prevents the five pharmaceutical manufacturers who have filed Abbreviated New Drug Applications from launching generic versions of Vyvanse until the earlier of either a successful appeal to the U.S. Court of Appeals for the Federal Circuit, or the expiration of these patents in 2023. To appeal successfully, the ANDA Defendants must overturn the court's rulings for each of the 18 patent claims, Shire said. The court's summary judgment ruling concerning Shire's motion included 18 patent claims from four of the FDA Orange Book-listed patents for Vyvanse, which cover Vyvanse's active ingredient, the lisdexamfetamine dimesylate compound, and a method of using lisdexamfetamine dimesylate for the treatment of ADHD. Shire's lawsuit is against the five ANDA defendants that filed ANDAs with the FDA seeking to market generic versions of Vyvanse. The defendants are Actavis (ACT), Amneal Pharmaceuticals, Mylan (MYL), Roxane Laboratories and Novartis' (NVS) Sandoz.
News For SHPG;ACT;MYL;NVS From The Last 14 Days
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June 29, 2015
08:35 EDTNVSAnacor announces amendment to KERYDIN commercialization agreement
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05:15 EDTNVSNovartis acquires Spinifex Pharmaceuticals, terms not disclosed
Novartis announced that it has entered into an agreement to acquire Spinifex Pharmaceuticals. Spinifex Pharmaceuticals is a U.S. and Australian-based, privately held development stage company, focused on developing a peripheral approach to treat neuropathic pain such as EMA401, a novel angiotensin II Type 2 receptor, or AT2R, antagonist. Financial terms were not disclosed.
June 26, 2015
07:44 EDTNVSNovartis drug Farydak recommended by CHMP for EU approval
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June 25, 2015
14:02 EDTNVSNovartis initiated with a Buy at HSBC
Price target CHF 115.
13:58 EDTSHPGShire initiated with a Reduce at HSBC
Price target GBP 47.34.
12:52 EDTMYLEU to decide by July 29 on Mylan's bid for Perrigo, Reuters reports
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June 23, 2015
14:16 EDTMYLBMO Capital sees strong fundamentals in Perrigo regardless of Mylan deal
Shares of Perrigo (PRGO) are trading higher intraday after BMO Capital Markets initiated coverage of the stock with an Outperform rating. The research firm is bullish on the shares regardless of whether Mylan's bid for the company succeeds, saying Perrigo is well-positioned to ride momentum in reduced-price healthcare. WHAT'S NEW: BMO Capital Markets' David Maris initiated coverage of Perrigo with an Outperform rating and a $246 price target. Maris cited the company's 70%-plus market share in store- and private-label brands, as well as its roughly $1B annual sales in the generics space. The analyst believes Perrigo will see continued benefit from larger trends driving consumer-centric healthcare and the curtailing of medical costs. WHAT'S NOTABLE: BMO Capital Markets noted that two upcoming Tysabri-related events are not accounted for by the Street, giving rise to a "significant" undervaluing of the shares. Mylan (MYL) has submitted multiple unsolicited offers for Perrigo, and while the likelihood of the deal seems low given Perrigo's numerous rejections and Teva's (TEVA) 4.61% blocking stake in Mylan. BMO Capital remarked that a failed deal should see "limited downside" for Perrigo. There could certainly be near-term volatility if a Mylan agreement doesn't materialize, but the analyst was confident in the well-positioned company's ability to deliver on both earnings per share and cash flow. PRICE ACTION: Shares of Perrigo are up nearly 2% in afternoon trading. The company saw a nearly 25% leap following Mylan's initial offer on April 8, though it has since dipped from that high.
08:49 EDTMYLMylan CFO to meet with Tel Aviv bourse head Wednesday, Reuters says
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06:01 EDTMYLPerrigo initiated with an Outperform at BMO Capital
BMO Capital analyst David Maris started Perrigo (PRGO) with an Outperform rating and $246 price target. Maris calls shares "significantly undervalued" on a fundamental basis and sees limited downside risk should Mylan (MYL) remove its unsolicited bid for the company.
June 21, 2015
19:53 EDTMYLMylan CEO says Teva's 4.61% stake may be 'illegal,' Bloomberg reports
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June 19, 2015
08:30 EDTMYLTeva completes purchase of 4.61% interest in Mylan
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05:47 EDTMYLStocks with implied volatility movement; MYLCMG
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June 18, 2015
17:05 EDTNVSNovartis announces U.S. launch of Glatopa
Sandoz, a Novartis (NVS) company, announced the U.S. launch of Glatopa, the first generic version of Teva's (TEVA) Copaxone 20 mg/ml one-time-daily multiple sclerosis therapy.
15:41 EDTMYLTeva tender offer for Mylan likely imminent, says Citi
Citi said Teva (TEVA) is likely to build up a 4.6% stake in Mylan (MYL) by today and that a formal tender offer is likely coming soon. An official bid could come with a provision requiring board changes and a tender will likely trigger a "poison pill" by Mylan, the firm added. Citi has a Buy rating and $70 price target on Teva shares.
11:57 EDTMYLMylan comments on ruling by appeals court on Copaxone patent
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11:54 EDTNVS, MYLAppeals court invalidates Teva patent claim related to Copaxone
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10:01 EDTMYLOn The Fly: Analyst Initiation Summary
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07:46 EDTMYLMylan initiated with a Buy at BTIG
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06:57 EDTNVSMallinckrodt says Questcor facing multi-state antitrust probe
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06:09 EDTMYLTeva raises stake in Mylan to 4.3%, Globes reports
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