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Stock Market & Financial Investment News

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 17, 2015
08:00 EDTTEVA, MYLTeva patent loss should move management to acquire Mylan, says Cowen
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05:53 EDTMYLStocks with implied volatility movement; XLNX MYL
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April 16, 2015
16:02 EDTTEVAOptions Update; April 16, 2015
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15:40 EDTMYL, TEVAGeneric Copaxone approval a bit early but expected, says BMO Capital
BMO Capital believes FDA approval for Sandoz (NVS) and Momenta's (MNTA) generic 20mg Copaxone came slightly earlier than the market expected, but the firm added that the generic threat has been well expected. The firm added that it appears Mylanís (MYL) generic Copaxone hasn't been approved yet, leaving a "legitimate question" about why the FDA approved one generic and not the other. BMO thinks Teva's rate of conversion to the 40mg dose will help retain patients on the Copaxone franchise and it keeps an Outperform rating on Teva shares.
13:42 EDTTEVATeva shares defended at Evercore ISI
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12:37 EDTTEVAMomenta confirms Glatopa approval, to receive $10M payment
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12:35 EDTTEVASandoz receives FDA approval for Glatopa as generic competitor to Copaxone
Sandoz, a Novartis (NVS) company, announced the U.S. approval of Glatopa, the first generic version of Teva's (TEVA) Copaxone 20 mg/ml one-time-daily multiple sclerosis therapy. Glatopa, developed in collaboration with Momenta (MNTA) and produced entirely in the U.S., is indicated for the treatment of patients with relapsing forms of MS, including those who have experienced a first clinical episode and have magnetic resonance imaging features consistent with MS.
12:35 EDTTEVAFDA denies Teva attempt to block generic Copaxone
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06:16 EDTTEVAFormer Teva CEO appointed to position of CEO at Ovid Therapeutics
Ovid Therapeutics, a privately held biopharmaceutical company focused on developing therapies for rare and orphan diseases of the brain, appointed Dr. Jeremy Levin as CEO. Levin has served as Chairman of Ovid since 2014 and will continue to serve in this role. Most recently, Levin served as CEO of Teva.
April 15, 2015
19:34 EDTTEVAVIVUS files patent infringement lawsuit against Teva
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09:02 EDTMYLRBC sees Akorn as possible play on Perrigo takeover interest
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April 14, 2015
08:03 EDTTEVATeva, Eagle announce NDA for bendamustine HCI accepted for filing
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06:18 EDTACTActavis urges U.S. appeals court to reverse decision on Namenda, AP reports
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April 13, 2015
16:37 EDTACTActavis announces availability of 52mg Liletta to prevent pregnancy
Actavis and Medicines360, a nonprofit women's health pharmaceutical company, announced that Liletta 52 mg is now available in the U.S. for use by women to prevent pregnancy for up to three years.
15:12 EDTMYLMylan enters settlement, license agreement with Pfizer regarding Viagra
Mylan (MYL) announced that its subsidiaries Mylan Inc. and Mylan Pharmaceuticals have entered into a settlement and license agreement with Pfizer (PFE), Pfizer Limited and Pfizer Ireland Pharmaceuticals to settle patent litigation relating to Mylan's Abbreviated New Drug Application filed with the U.S. FDA for Sildenafil Citrate Tablets 25 mg, 50 mg, and 100 mg. This product is the generic version of Viagra, which is indicated to treat erectile dysfunction. Under the terms of the agreement, Mylan will be able to launch its ANDA products pursuant to a royalty-bearing license as early as December 11, 2017, or sooner under certain conditions, subject to FDA approval. All other terms and conditions of the settlement and license agreement are confidential, and the agreement itself is subject to review by the U.S. Department of Justice and the Federal Trade Commission. For the 12 months ending Dec. 31, 2014, Viagra had U.S. sales of approximately $1.3B, according to IMS Health.
10:52 EDTACTMeister says Actavis bought great companies, can continue growing
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09:27 EDTACTActavis and Medicine360 announce Liletta es available in the U.S.
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08:34 EDTACTZoetis names Actavis Executive Chairman Paul Bisaro to board
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07:56 EDTTEVA, MYLMylan, Teva, Perrigo price targets raised at JPMorgan
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06:49 EDTMYLMylan notifies Perrigo of HSR filing regarding proposed acquisition
Mylan N.V. (MYL) announced that it has provided Perrigo (PRGO) with notice of its filing of the premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with the U.S. Federal Trade Commission and the U.S. Department of Justice Antitrust Division regarding its proposed acquisition of Perrigo, as required by the HSR Act. Mylan proposed to acquire Perrigo for $205 per share in a cash-and-stock transaction on April 6.
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