New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 21, 2014
11:33 EDTSNY, ABTAward of $16M to Sanofi, Abbott for damages upheld on appeal
The Court of Appeals for the Federal Circuit affirmed a lower court ruling that Glenmark Pharmaceuticals infringed a patent related to the antihypertension drug Tarka that is owned by or exclusively licensed to Sanofi (SNY), Abbott Labs (ABT), and their related companies. In the prior case, Glenmark admitted infringement and the jury awarded $15.2M in lost profits and about $800K in price erosion damages. The appeals court affirmed the district court's jurisdiction in the matter, as well as its judgment and related rulings. Reference Link
News For SNY;ABT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 30, 2014
16:39 EDTSNYCMS discloses drug makers' payments to doctors, WSJ says
Subscribe for More Information
10:53 EDTSNYRegeneron dupilumab opportunity improved with new data, says Piper Jaffray
Piper Jaffray said it is increasingly optimistic about dupilumab's broad potential in allergic diseases following the Phase II data on chronic sinusitis with nasal polyps as well as prior data in atopic dermatitis and asthma. The firm views dupilumab as a potential blockbuster and reiterates its Overweight rating and $382 price target on Regeneron (REGN), which announced the data in partnership with Sanofi (SNY).
07:30 EDTSNYSachs Associates to hold a conference
14th Annual Biotech in Europe Forum for Global Partnering and Investment to be held in Basel, Switzerland on September 30-October 1.
05:16 EDTSNYRegeneron, Sanofi announce positive Phase 2 top-line dupilumab results
Regeneron Pharmaceuticals (REGN) and Sanofi (SNY) announced that a Phase 2a proof-of-concept study of dupilumab, an investigational therapy that blocks IL-4 and IL-13 signaling, met all primary and secondary endpoints in patients with moderate-to-severe chronic sinusitis with nasal polyps, or CSwNP, who did not respond to intranasal corticosteroids. In the study, dupilumab resulted in a statistically-significant improvement in the size of nasal polyps, as measured by endoscopic Nasal Polyp Score, the primary endpoint of the study. Statistically significant improvements in all secondary efficacy endpoints were also observed, including objective measures of sinusitis by CT scan, nasal air flow, and patient-reported symptoms. In a pre-specified exploratory analysis, dupilumab-treated patients who also had asthma demonstrated significant improvements in asthma control. The safety profile was consistent with previous studies. The most common AEs with dupilumab were injection site reactions, nasopharyngitis, oropharyngeal pain, epistaxis, headache and dizziness.
September 26, 2014
09:01 EDTABTAbbott completes CFR Pharmaceuticals acquisition
Abbott has acquired control of CFR Pharmaceuticals, doubling its Latin American branded generics pharmaceutical presence and further expanding the company's presence in fast-growing markets. Through purchase of the controlling interest and tender offers described below, Abbott indirectly acquired more than 99% of CFR's ordinary shares for approximately $2.9B. The CFR acquisition immediately establishes Abbott among the top 10 pharmaceutical companies in Latin America, a market that is expected to reach $124B by 2018, with estimated annual growth rates of two to three times that of developed markets over the coming years, according to IMS. This transaction will not impact Abbott's ongoing earnings-per-share guidance for 2014. Abbott anticipates this transaction to be accretive to ongoing earnings per share in 2015 and increasing thereafter, before one-time transaction-related items which will be provided at a later date.
September 24, 2014
17:01 EDTSNYMannKind announces closing of global licensing agreement with Sanofi
Subscribe for More Information
09:03 EDTABTAbbott's U.S. tender offer for Chile's CFR Pharmaceuticals expired
Abbott announced the expiration of the tender offer for the purchase from U.S. holders of the ordinary shares of CFR Pharmaceuticals S.A., a Chilean corporation, and for the purchase from all holders, wherever resident, of CFR's outstanding ADS. The offer expired at 5 p.m., NYC time, on Sept. 23, and was not extended. A Chilean tender offer for CFR ordinary shares, which was made concurrently with the U.S. offer, expired at 5:30 p.m., Chilean time, on Sept. 23, and was not extended. The results of the U.S. offer will be announced on Sept. 26, at the time the results of the Chilean tender offer for CFR ordinary shares are announced.
08:10 EDTSNYSanofi unit announces research collaboration
Subscribe for More Information
06:23 EDTABTExperts see new tax rules not halting inversions, WSJ reports
Subscribe for More Information
September 23, 2014
10:54 EDTABTStocks, analysts react to Treasury inversion crackdown
Subscribe for More Information
09:13 EDTABTOn The Fly: Pre-market Movers
Subscribe for More Information
09:00 EDTSNYBofa/Merill special situations team to hold an analyst/industry conference call
Subscribe for More Information
08:53 EDTABTInversion regulations look more onerous than expected, says FBR Capital
FBR Capital says the new regulations announced last night by the Treasury and IRS contain appear more onerous than expected. FBR points out the proposed changes remove the ability of inverting companies to make "hopscotch loans" between the foreign and domestic subsidiaries. The firm believes the regulations will not end the practice of inversions, and it still expects completion of already announced deals.
06:28 EDTABTTreasury rules may put Mylan deal at risk, says BMO Capital
BMO Capital believes Treasury's new inversion rules may put the tax benefits of Mylan's (MYL) planned acquisition of Abbott's (ABT) established products business at risk. BMO also thinks the rules impact Salix's (SLXP) pending deal for Cosmo Pharmaceuticals, which it feels may help make a deal with Allergan (AGN) more likely.
05:56 EDTABTTreasury, IRS announce plans to reduce inversion tax benefits
Subscribe for More Information
September 22, 2014
07:21 EDTSNYEBD Group to hold a conference
Subscribe for More Information
07:06 EDTABTAbbott price target raised to $48 from $44 at RBC Capital
Subscribe for More Information
September 19, 2014
11:25 EDTABTSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use