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News Breaks
June 25, 2014
05:32 EDTSHPG, ACT, MYL, 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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July 14, 2014
06:03 EDTSHPGStocks with implied volatility below IV index mean; BBBY SHPG
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05:27 EDTSHPGShire receives revised proposal from AbbVie of GPB 53.20 per share
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July 13, 2014
20:22 EDTMYLMylan near buying Europe-based drug portfolio from Abbott, Reuters says
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17:10 EDTSHPGShire said to seek bid of near 53 pounds per share from AbbVie, Reuters says
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July 11, 2014
16:46 EDTSHPGStocks end week lower on European, Fed concerns
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16:31 EDTACTActavis confirms generic Diclegis patent challenge
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14:13 EDTSHPGShire, AbbVie didn't commit to further talks, Dow reports
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13:58 EDTSHPGShire confirms meeting with AbbVie representatives
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11:54 EDTSHPGAbbVie, Shire in active takeover talks, Bloomberg reports
AbbVie (ABBV) and Shire (SHPG) are in active talks about a potential merger after AbbVie raised its takeover offer for a fourth time, Bloomberg reports, citing people with knowledge of the matter. The talks are in the early stage and may not lead to an agreement, sources told Bloomberg. Shares of Shire are up 5%, or $12.04, to $250.65 following the report.
11:34 EDTSHPGShire jumps 5% after Bloomberg report on talks with AbbVie
11:33 EDTSHPGShire, AbbVie held talks after latest raised takeover offer, Bloomberg says
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July 10, 2014
15:43 EDTNVSNovartis siponimod designated as orphan treatment of dermatomyositis
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09:40 EDTSHPGAbbVie, Shire not holding talks at this point as deadline approaches, CNBC says
AbbVie (ABBV) and Shire (SHPG) are not holding talks at this point, according to CNBC's David Faber, citing sources. Shire confirmed two days ago that it has received AbbVie's latest, raised takeover offer and that its board will meet to consider the proposal.
July 9, 2014
18:31 EDTSHPGShareholders urge Allergan to make large acquisition, FT reports
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18:21 EDTSHPGAllergan CEO seeks sizeable acquisitions, WSJ reports
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08:19 EDTSHPGAbbVie offer may not bring Shire to negotiating table, says BMO Capital
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07:38 EDTSHPGShire 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
07:15 EDTMYLTeva, others fined $583.4M by EU regulators, Reuters says
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06:49 EDTACT, MYLGeneric drug prices have risen significantly, NY Times says
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06:40 EDTSHPGAbbVie required to retract comments in Shire takeover battle, Reuters says
AbbVie (ABBV) has been required to take back comments made by its CEO Richard Gonzalez regarding shareholder support for its offer for Shire (SHPG), according to Reuters, citing a statement from the U.S. drugmaker. British takeover rules say that a rival is not allowed to claim support for its bid unless it has this in writing from shareholders. Reference Link
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