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Stock Market & Financial Investment News

News Breaks
June 18, 2014
10:17 EDTSHPG, AGN, VRX, BMY, ABBV, GILD, BIIB, AMGNShire rises after analyst predicts Allergan takeover
Shares of Irish drug maker Shire (SHPG) are climbing after an analyst at SunTrust predicted that Allergan (AGN) would soon look to buy the Irish company. WHAT'S NEW: A bid for Shire by Allergan is imminent, wrote SunTrust analyst John Boris in a note to investors earlier today. An acquisition of Shire would be more advantageous for Allergan shareholders than the proposed hostile takeover of the company by Valeant (VRX), Boris contended. An acquisition of Shire would boost Allergan's stock more than a Valeant deal, and would enable Allergan's shareholders to avoid the risk of holding Valeant's stock, the analyst stated. Following an acquisition of Shire by Allergan, the combined company would have sustainable, transparent revenue growth of about 10%, a diversified sales mix, high value research and development programs and a tax inversion, the analyst believes. Additionally, the transaction would boost Allergan's profit by 50% in its first year and would enable its profit growth to accelerate significantly, according to Boris. He kept a $200 price target and Buy rating on Shire shares. ALSO TODAY: Valeant announced that it has commenced an exchange offer for Allergan, taking its buyout proposal directly to stockholders. Under the terms of the offer, Allergan stockholders would be able to elect to exchange each of their Allergan shares for $72.00 in cash and 0.83 Valeant common shares, or an amount of cash, or a number of Valeant common shares, in each case subject to proration. The offer is scheduled to expire at 5:00 p.m., New York City time, on August 15. WHAT'S NOTABLE: On June 16, Reuters reported that Shire had hired Citigroup (C) as an adviser to prepare for takeover bids. Bankers believe that Shire could be an attractive takeover target for Bristol Myers (BMY), Abbvie (ABBV), Gilead (GILD), Biogen (BIIB) or Amgen (AMGN), the news service reported. PRICE ACTION: In early trading, Shire is up 4%, or $6.61, to $193.77 while Allergan is up 1%, or $1.27, to $161.80. Valeant is little changed at $118.90.
News For SHPG;AGN;VRX;BMY;ABBV;GILD;BIIB;AMGN From The Last 14 Days
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October 13, 2014
09:23 EDTABBVAbbVie's Humira for hidradenitis suppurativa meets Phase 3 trial endpoint
AbbVie announced new results from PIONEER II, a pivotal Phase 3 study, demonstrating the effect of Humira in reducing common clinical signs and symptoms in moderate-to-severe hidradenitis suppurativa, specifically the number of abscesses and inflammatory nodules. The results of this study, in combination with previously presented results from PIONEER I, will contribute to worldwide regulatory filings for an expanded use of Humira, which is not currently approved by regulatory authorities for the treatment of HS.
08:36 EDTGILDGilead HARVONI launch should be strong, says BMO Capital
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08:05 EDTBMYBristol-Myers, Pharmacyclics, Janssen announce clinical collaboration
Bristol-Myers Squibb Company (BMY), Pharmacyclics, Inc. (PCYC), and Janssen Research & Development, LLC (JNJ) announced today they have entered into a clinical trial collaboration agreement to evaluate the safety, tolerability and preliminary efficacy of Bristol-Myers Squibb’s investigational PD-1 immune checkpoint inhibitor OPDIVO in combination with IMBRUVICA, an oral Bruton's tyrosine kinase inhibitor co-developed and co-marketed by Pharmacyclics and Janssen. The Phase 1/2 study will focus on evaluating the safety and anti-tumor activity of combining OPDIVO and IMBRUVICA as a potential treatment option for patients with non-Hodgkin lymphoma, including diffuse large B-cell lymphoma, follicular lymphoma and chronic lymphocytic leukemia. Bristol-Myers Squibb has proposed the name OPDIVO, which if approved by health authorities, will serve as the trademark for the investigational drug, nivolumab. OPDIVO is part of a new class of cancer treatments known as immunotherapies, which are designed to harness the body’s own immune system in fighting cancer by targeting distinct regulatory components of the immune system. Each agent has individually shown activity against hematologic malignancies in clinical trials; pre-clinical evidence suggests OPDIVO and IMBRUVICA may have the potential for additive treatment effects in patients with hematologic malignancies. The study will be conducted by Janssen. Additional details of the collaboration were not disclosed.
07:56 EDTGILDGilead Harvoni pricing 'very reasonable,' says RBC Capital
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07:39 EDTABBV, GILDPharmaceutical Care Management Association to hold annual meeting
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07:37 EDTABBVAmerican Society of Anesthesiologists to hold annual meeting
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07:13 EDTBMYBioFlorida to hold a conference
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06:39 EDTAGNAllergan takeout value at or above $210 per share, says Leerink
Leerink believes Allergan's takeover value is now at or above $210 per share given the company's recent execution. After speaking with management, the firm says Allergan's upside in Q3 was driving by fundamentals, not cost cuts. It continues to view the "most likely and straightforward outcome" for Allergan as being an outright sale of the company. Leerink raised its price target for shares to $215 from $184 and keeps an Outperform rating on Allergan.
October 10, 2014
17:14 EDTAGNMarket ends week lower amid global growth worries
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14:08 EDTGILDGilead 12-week regimen of Harvoni to cost $94.5K
Gilead said its newly-approved treatment of hepatitis C genotype 1 infection, Harvoni, will be priced at $94,500 for a full 12 week regiment, according to multiple media outlets, which cite a company spokesperson.
13:55 EDTGILDGilead confirms FDA approval of Harvoni
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13:42 EDTGILDGilead hepatitis C treatment Harvoni approved by FDA
The FDA announced the approval of Harvoni to treat chronic hepatitis C virus genotype 1 infection. Harvoni is the first combination pill approved to treat chronic HCV genotype 1 infection, the agency stated. It is also the first approved regimen that does not require administration with interferon or ribavirin, two FDA-approved drugs also used to treat HCV infection, it added. Harvoni is marketed by Gilead.
13:40 EDTGILDFDA approves Gilead hepatitus C treatment Harvoni
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10:20 EDTAGNFidelity supports potential merger between Actavis and Allergan, Reuters reports
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10:03 EDTBMYBristol-Myers receives orphan status for melanoma treatment
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08:19 EDTBMY, GILDMedivir announces Janssen initiates enrolment in phase II IMPACT study
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07:37 EDTAGN, VRXActavis more likely partner than Valeant if Allergan merges, says UBS
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07:35 EDTAGNAllergan price target raised to $224-$225, from $198-$199 at Wells Fargo
Wells Fargo increased its price target on Allergan after the company pre-released better-than-expected revenue and EPS, and raised its 2014-2016 EPS guidance. The firm keeps an Outperform rating on the shares.
07:21 EDTGILDFDA PDUFA Date for Gilead Sciences Sofosbuvir is October 10, 2014
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07:16 EDTVRX, AGNAmerican Society of Plastic Surgeons to hold annual meeting
Annual Meeting of ASPS is being held in Chicago on October 10-14.
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