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News Breaks
March 18, 2013
10:03 EDTTEVA, MYL, ACTGeneric drug makers fall after Wells analyst downgrades sector
A number of generic drug makers are losing ground after Wells Fargo analyst Michael Tong downgraded the sector to Market Weight from Overweight in a note to investors earlier today. After four years of outperformance, companies in the sector may have to exploit new catalysts in order to advance further, Tong believes. These new catalysts, however, carry more risks than previous drivers of the stock, the analyst contended. Upcoming catalysts for the sector include profitable international expansion, diversified brand portfolio, and biosimilars, Tong wrote. Investors should move out of generic drug stocks and buy the stocks of large drug companies, the analyst recommended. In the same note, Tong downgraded two specific generic drug makers. He dropped Teva (TEVA) to Market Perform from Outperform and lowered Actavis (ACT) to Market Perform from Outperform. Teva is taking longer than expected to implement its turnaround plan and may face increased competition to its Copaxone MS treatment, while Actavis' stock price has risen to the point where the shares accurately reflect the company's long-term outlook, Tong believes. In early trading, Teva fell 1% to $40.35, Actavis gave back 2% to $90, and Mylan (MYL) lost 1% to $30.15.
News For TEVA;ACT;MYL From The Last 14 Days
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April 16, 2014
10:00 EDTTEVA, ACTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: A10 Networks (ATEN) initiated with a Buy at BofA/Merrill... Actavis (ACT) initiated with a Buy at Sterne Agee... Allergan (AGN) initiated with a Buy at Sterne Agee... Autohome (ATHM) initiated with a Neutral at Credit Suisse... BitAuto (BITA) initiated with an Outperform at Credit Suisse... Centene (CNC) initiated with a Neutral at UBS... Endo International (ENDP) initiated with a Buy at Sterne Agee... FS Investment (FSIC) initiated with an Overweight at Evercore... Hertz (HTZ) initiated with a Buy at Gabelli... Hilton (HLT) initiated with a Hold at Jefferies... Hospira (HSP) initiated with a Neutral at Sterne Agee... ImmunoGen (IMGN) initiated with a Buy at Canaccord... Impax (IPXL) initiated with a Neutral at Sterne Agee... Imperva (IMPV) assumed with a Neutral at Wedbush... Ingredion (INGR) initiated with an Outperform at Credit Suisse... Laredo Petroleum (LPI) initiated with an Outperform at RW Baird... Lpath (LPTN) initiated with a Buy at Canaccord... MediWound (MDWD) initiated with an Outperform at Oppenheimer... Medivation (MDVN) initiated with a Hold at Canaccord... NPS Pharmaceuticals (NPSP) assumed with a Buy at Canaccord... Nimble Storage (NMBL) initiated with a Market Perform at Raymond James... Regeneron (REGN) initiated with a Buy at Canaccord... Salix (SLXP) initiated with a Buy at Sterne Agee... Sibanye Gold (SBGL) initiated with an Outperform at Imperial Capital... Teva (TEVA) initiated with a Neutral at Sterne Agee... Wipro (WIT) assumed with a Hold at Jefferies.
08:34 EDTACTPiper Jaffray tech and biopharma analysts hold analyst/industry conference call
Technical Analyst Johnson, along with BioPharma Analysts, discuss the recent downturn in the biotech and specialty pharmaceuticals industries on an Analyst/Industry conference call to be held on April 17 at 10 am.
07:59 EDTACTActavis initiated with a Buy at Sterne Agee
Target $230.
07:00 EDTTEVATeva initiated with a Neutral at Sterne Agee
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April 15, 2014
12:26 EDTTEVATeva announces launch of generic Lunesta tablets in U.S.
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10:21 EDTACT, MYLMylan announces settlement agreement for first-to-file Generess
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10:10 EDTMYLMylan launches generic Lunesta tablets
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08:07 EDTACT, MYLActavis announces agreement related to Generess FE patent challenge litigation
Actavis (ACT) announced that it has entered into an agreement with Mylan (MYL) and Famy Care to settle all outstanding patent litigation related to Mylan's generic version of Generess. Under the terms of the agreement, Actavis will grant Mylan a license to market its generic version of Generess® FE under its pending Abbreviated New Drug Application beginning on April 1, 2015. Alternatively, Mylan will be permitted to launch an authorized generic version of Actavis' product beginning on October 1, 2015. Other terms of the settlement were not disclosed. Actavis remains in litigation with Lupin Ltd in connection with Lupin's pending ANDA for a generic version of Generess.
08:06 EDTMYLProsonix, Mylan enter licensing deal for generic version of Flixotide, Flovent
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April 11, 2014
11:50 EDTMYLStocks with call strike movement; TNA MYL
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10:30 EDTACT, MYLActavis and Mylan shares recommended at Bernstein
07:31 EDTMYLMylan confirms judge enforces agreement with Endo regarding generic Frova
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April 9, 2014
10:06 EDTACTOn The Fly: Analyst Upgrade Summary
AmSurg (AMSG) upgraded to Buy from Hold at Cantor... CBOE Holdings (CBOE) upgraded to Buy from Neutral at BofA/Merrill... Carlyle Group (CG) upgraded to Outperform from Perform at Oppenheimer... FireEye (FEYE) upgraded to Buy from Hold at Topeka... Fortune Brands (FBHS) upgraded to Outperform from Neutral at Credit Suisse... Gray Television (GTN) upgraded to Outperform from Market Perform at Wells Fargo... Hibbett Sports (HIBB) upgraded to Overweight from Neutral at Piper Jaffray... LinkedIn (LNKD) upgraded to Buy from Hold at Topeka... Mallinckrodt (MNK) upgraded to Buy from Neutral at UBS... NXP Semiconductors (NXPI) upgraded to Strong Buy from Outperform at Raymond James... Nexstar (NXST) upgraded to Outperform from Market Perform at Wells Fargo... Penn National (PENN) upgraded to Overweight from Equalweight at Barclays... Philip Morris (PM) upgraded to Neutral from Reduce at Nomura... SAIC (SAIC) upgraded to Market Perform from Underperform at Wells Fargo... Sinclair Broadcast (SBGI) upgraded to Outperform from Market Perform at Wells Fargo... Yelp (YELP) upgraded to Buy from Fair Value at CRT Capital... Danaher (DHR) upgraded to Strong Buy from Buy at ISI Group... Quanex (NX) upgraded at BB&T... Omnicell (OMCL) upgraded at Craig-Hallum... Volkswagen (VLKAY) upgraded to Outperform from Market Perform at Bernstein... Magna (MGA) upgraded to Neutral from Sell at Citigroup... Actavis (ACT) upgraded to Positive from Neutral at Susquehanna... E-Trade (ETFC) upgraded to Neutral from Underperform at BofA/Merrill... AmerisourceBergen (ABC) upgraded to Outperform from Market Perform at FBR Capital... CONSOL (CNX) upgraded to Outperform from Neutral at Macquarie.
08:16 EDTACTActavis upgraded to Positive from Neutral at Susquehanna
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05:57 EDTMYLMylan implied volatility of 47 at upper end of index mean range
April 8, 2014
09:17 EDTACTActavis recommended on pullback at UBS
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08:46 EDTTEVATeva announces first approval, launch of generic Lovaza capsules in the U.S.
Teva (TEVA) announces the approval of the generic equivalent to Lovaza in the United States. Teva believes it is first-to-file and thus far is the only company to receive an approval from FDA. Teva plans to commence shipping immediately. Lovaza Capsules, marketed by GlaxoSmithKline (GSK), had annual sales of approximately $1.1B in the United States, according to IMS data as of December 2013.
07:56 EDTMYLMylan volatility elevated at 42
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07:08 EDTACTDrug deals increase to new high, Bloomberg says
M&A activity in the specialty pharmaceuticals industry has reached a new high after Mallinckrodt (MNK) recently bought Questcor (QCOR) for $5.6B, reported Bloomberg. Drugmakers from Actavis (ACT) to Valeant (VRX) are widening their suites of drugs through takeovers that immediately increased earnings with the help of lower corporate tax rates in countries such as Ireland. Reference Link
April 7, 2014
14:09 EDTTEVASun Pharmaceutical agrees to acquire generic drugmaker Ranbaxy
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