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January 17, 2014
05:23 EDTSHPGShire executes agreements to divest Dermagraft
Shire announced that it has entered into a definitive agreement pursuant to which it has sold its Dermagraft assets to Organogenesis. Dermagraft is a living skin substitute indicated for use in the treatment of full-thickness diabetic foot ulcers and is approved for use in the US and Canada. Going forward Organogenesis will assume all financial and management responsibility for Dermagraft. The Dermagraft assets that have been sold to Organogenesis comprise the key operating assets relating to the development, manufacture and sale of the Dermagraft product. These assets include intellectual property relating to Dermagraft including patents, trademarks and know-how; regulatory filings and registrations relating to Dermagraft; certain manufacturing plant, equipment and materials; Dermagraft product inventory and accounts receivable. These assets had a value of $683M in Shire's September 30, 2013 balance sheet. Shire is generally retaining legacy liabilities relating to the Dermagraft business, including the previously announced Department of Justice investigation relating to the sales and marketing practices of Advanced Biohealing. Shire will receive no upfront payment from Organogenesis but is entitled to receive up to $300M cash in total milestone payments should Organogenesis meet certain annual net sales targets between now and 2018. Shire will record a loss on disposal and associated impairment charges of approximately $650M in Q4, which will be excluded from Non GAAP earnings.
News For SHPG From The Last 14 Days
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November 25, 2015
07:04 EDTSHPGShire re-approaching Baxalta is feasible, says Leerink
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November 24, 2015
15:28 EDTSHPGShire working on new Baxalta takeover bid, Reuters reports
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15:16 EDTSHPGShire readying new takeover offer for Baxalta, Reuters says
New bid could be structured as both cash and shares, Reuters says, citing a source.
November 17, 2015
10:00 EDTSHPGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CF Industries (CF) upgraded to Positive at Susquehanna... ExlService (EXLS) upgraded to Buy from Neutral at BofA/Merrill... Fitbit (FIT) upgraded to Buy at BofA/Merrill... Forward Air (FWRD) upgraded to Outperform at Baird... HD Supply (HDS) upgraded to Positive from Neutral at Susquehanna... Hannover Re (HVRRY) upgraded to Overweight from Underweight at JPMorgan... Moody's (MCO) upgraded to Buy from Neutral at UBS... PRA Group (PRAA) upgraded to Strong Buy from Market Perform at Raymond James... Plum Creek Timber (PCL) upgraded to Outperform from Sector Perform at RBC Capital... Shire (SHPG) upgraded to Outperform from Market Perform at Leerink... Yandex (YNDX) upgraded to Overweight from Equal Weight at Morgan Stanley... Zayo Group (ZAYO) upgraded to Buy from Neutral at MoffettNathanson.
November 16, 2015
16:53 EDTSHPGPaulson reduced stake in Valeant
Paulson & Co. gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Perrigo (PRGO), CIT Group (CIT), Precision Castparts (PCP), Cameron (CAM), and Altera (ALTR). INCREASED STAKES: Teva (TEVA), Post Holdings (POST), Starwood Hotels (HOT), LivaNova (LIVN), and Synergy Pharmaceuticals (SGYP). DECREASED STAKES: Valeant (VRX), Shire (SHPG), Whiting Petroleum (WLL), Computer Sciences (CSC), and Oasis Petroleum (OAS). LIQUIDATED STAKES: Houghton Mifflin Harcourt (HMHC), Broadcom (BRCM), and Sprint (S).
16:18 EDTSHPGShire upgraded to Outperform, price target raised to $239 at Leerink
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16:02 EDTSHPGShire upgraded to Outperform from Market Perform at Leerink
09:59 EDTSHPGOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
06:01 EDTSHPGSynergy Pharmaceuticals appoints Gary Sender as CFO
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November 12, 2015
08:02 EDTSHPGSynergy Pharmaceuticals still a saleable asset, says Canaccord
Canaccord still views Synergy Pharmaceuticals (SGYP) as a saleable asset, with Valeant (VRX) or Shire (SHPG) seen as the most obvious buyers. The firm also sees the cost of the launch of plecanatide as lower than expected and sees no need for the company to raise capital until at least the end of 2016. Canaccord reiterated its Buy rating and $19 price target on Synergy Pharmaceuticals shares.

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