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March 20, 2014
08:01 EDTSPHS, SLXPSophiris Bio adds Gerald Proehl to board of directors, effective March 19
Proehl most recently served as the president, CEO and director of Santarus, Inc. until its acquisition by Salix Pharmaceuticals (SLXP) in January.
News For SPHS;SLXP From The Last 14 Days
Check below for free stories on SPHS;SLXP the last two weeks.
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July 22, 2014
16:08 EDTSLXPSalix initiated with a Hold at Deutsche Bank
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July 17, 2014
05:24 EDTSLXPSalix, Pharming Group announces FDA approval of Ruconest
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July 16, 2014
09:12 EDTSLXPLeerink healthcare analyst holds an analyst/industry conference call
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July 14, 2014
07:07 EDTSLXPFDA says RELISTOR can be approved on data submitted in sNDA
Salix Pharmaceuticals (SLXP) and Progenics Pharmaceuticals (PGNX) announced that the Food and Drug Administration has informed Salix that RELISTOR can be approved on the data submitted in the sNDA. The FDA Office of Drug Evaluation III responded to the company’s formal appeal filed in response to the Complete Response Letter of July 27, 2012 to the supplemental NDA ) for RELISTOR. The Agency’s letter stated that, “Salix’s request that FDA approve the supplemental NDA for RELISTOR subcutaneous injection for the treatment of opioid-induced constipation in patients with chronic non-cancer pain based on the submitted data is granted.” This request for a proposal for a post-marketing observational study is in accordance with recommendations of the June 11-12, 2014 meeting of the Anesthetic and Analgesic Drug Product Advisory Committee. Salix will work with the DGIEP in an effort to provide information to the division that will enable the division to approve RELISTOR for use by patients with chronic non-cancer pain and experiencing OIC.
July 11, 2014
16:46 EDTSLXPStocks end week lower on European, Fed concerns
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09:19 EDTSLXPSalix price target raised to $165 from $130 at Sterne Agee
Sterne Agee increased its price target on Salix (SLXP) to reflect recent data on the company's Xifaxan irritable bowel treatment. The firm views the data as very strong and now sees a 90% chance that the treatment will be approved. Sterne Agee also cited the reduction of the company's taxes following its merger with Cosmo Tech as a reason for its target increase. Sterne keeps a Buy rating on Salix.
July 10, 2014
08:05 EDTSLXPSalix price target raised to $150 from $125 at Brean Capital
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06:56 EDTSLXPSalix price target raised to $192 from $126 at Piper Jaffray
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06:55 EDTSLXPSalix growth outlook, value compelling, says Stifel
Following Salix's Analyst Day, Stifel believes that Salix's shares offer one of the most compelling growth and value opportunities among specialty drug companies it covers. The firm thinks that data for the company's Xifaxan data was strong and is likely to satisfy the FDA. The firm is upbeat on the company's Cosmo deal and thinks the deal is underappreciated. It keeps a Buy rating on Salix.
July 9, 2014
10:29 EDTSLXPSalix prospects as takeover target debated after inversion deal
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10:19 EDTSLXPSalix targets 3-5 year goal of adjusted net income 32%-37% of revenue
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10:15 EDTSLXPSalix repeats FY14 adjusted EPS view about $6.33, consensus $6.52
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09:13 EDTSLXPOn The Fly: Pre-market Movers
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08:01 EDTSLXPSalix deal suggests not likely to look to sell in near-term, says JMP Securities
After Salix announced a merger with Irish-domiciled Cosmo Technologies, JMP Securities thinks the deal may disappoint investors since it's not immediately materially accretive. The firm contends that the deal suggests that Salix is unlikely to look to sell itself in the near-term ,although it thinks that the company still remains a takeover target. JMP Securities keeps an Outperform rating on the stock.
07:53 EDTSLXPSalix near-term takeout unlikely after inversion deal, says Leerink
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07:46 EDTSLXPSalix tax inversion deal disappointing, says UBS
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06:41 EDTSLXPSalix rationale behind Cosmo deal compelling, says Piper Jaffray
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06:20 EDTSLXPSalix to host conference call
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July 8, 2014
17:04 EDTSLXPSalix to combine with Cosmo Technologies
Salix Pharmaceuticals and Cosmo Pharmaceuticals announced a definitive merger agreement under which Salix will combine with Cosmo Technologies, a subsidiary of Cosmo. Under the terms of the agreement, Salix will become a wholly-owned subsidiary of Irish domiciled Cosmo Tech, which will change its name to Salix Pharmaceuticals, plc and is expected to have its ordinary shares listed and traded on the NASDAQ Global Select Market. The transaction is expected to be modestly accretive to Salix’s EPS in FY16 and increasingly accretive thereafter. Salix Pharmaceuticals, plc will own Cosmo’s U.S. patents for rifamycin MMX, methylene blue MMX and Uceris, and have specified rights of negotiation with respect to all products Cosmo or its affiliates seek to develop or commercialize in the U.S. In addition, Salix Pharmaceuticals, plc will acquire Cosmo’s patents for rifamycin MMX in Canada, specified Latin American countries, India, China, Japan and the rest of the Far East, excluding Australia and New Zealand, and Cosmo’s patents for Uceris in Japan. Upon completion of the merger, shareholders of Salix are expected to own slightly less than 80% of the ordinary shares of Salix Pharmaceuticals, plc and Cosmo is expected to own slightly more than 20%. Shareholders of Salix will receive one ordinary share of Salix Pharmaceuticals, plc in exchange for each share of Salix Pharmaceuticals, Ltd common stock they own at closing. In connection with the merger, Cosmo will continue to supply Uceris to Salix and will also supply rifamycin MMX and methylene blue MMX. Additionally, Cosmo will have the right to designate one director to serve on the board of Salix Pharmaceuticals, plc and will be subject to certain standstill provisions for at least 10 years following the completion of the merger. The transaction, which will be taxable to Salix’s shareholders, is expected to close in Q4.
17:02 EDTSLXPSalix to combine with Cosmo Technologies
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