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Stock Market & Financial Investment News

News Breaks
July 23, 2014
07:28 EDTSHPGShire enters licensing and collaboration agreement with ArmaGen
Shire and ArmaGen, a US privately held biotechnology company, announced a worldwide licensing and collaboration agreement for AGT-182, an investigational enzyme replacement therapy for the potential treatment of both the central nervous system and somatic manifestations in patients with Hunter syndrome. Shire will obtain worldwide commercialization rights for AGT-182 in exchange for payments of approximately $225M to ArmaGen, including an initial upfront payment of $15M in cash and equity, an additional equity investment, R&D funding, development milestones and sales milestones, in addition to royalty payments. ArmaGen will be responsible for conducting and completing the Phase I/II study which it expects to initiate before the end of 2014, after which point Shire will be responsible for further clinical development, including Phase III trials, and commercialization.
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April 23, 2015
09:20 EDTSHPGCelgene patent latest to be challenged by Hayman Capital's Bass
The Coalition For Affordable Drugs, a group linked to Hayman Capital's Kyle Bass, has requested an Inter Partes Review of Claims 110 of U.S. Patent No. 6,045,501 held by Celgene (CELG), according to a USPTO filing. The 501 patent claims methods for delivering a drug, including a teratogenic drug, to a patient while preventing the exposure of a fetus or other contraindicated individuals to the drug. The patent is related to the company's Revlimid drug. BACKGROUND: Previously, the same coalition requested an Inter Partes Review of patents held by Pharmacyclics (PCYC), Acorda Therapeutics (ACOR), Shire (SHPG) and Jazz Pharmaceuticals (JAZZ). On January 7, Reuters reported that Bass planned to take "around 15 pharmaceutical companies with a combined market capitalization of $450B" into an Inter Partes Review for extending patents in questionable ways, citing a presentation made by Bass in Oslo. PRICE ACTION: Shares of Celgene are down 0.5% to $114.92 in pre-market trading.
April 22, 2015
07:07 EDTSHPGEuropean Association for the Study of the Liver to hold annual meeting
50th Annual Meeting of EASL will be held in Vienna, Austria on April 22-26.
April 20, 2015
14:32 EDTSHPGPharmacyclics patent for Imbruvica challenged by Hayman Capital's Bass
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April 13, 2015
07:20 EDTSHPGShire price target raised to $288 from $267 at JPMorgan
JPMorgan raised its price target for Shire to $288 after lifting its estimates for Lifitegrast in dry eye following the FDA's Priority Review designation. The firm believes the FDA is very likely to approve the application in October of this year, without waiting for the third Phase III study late 2015. It upped its 2020 Lifitegrast forecasts by $600M to $900M and reiterates an Overweight rating on Shire.

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