News Breaks |
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| March 18, 2013 |
| 10:03 EDT |  | TEVA, ACT, MYL | Generic 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. |
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News For TEVA;ACT;MYL From The Last 14 Days Check below for free stories on TEVA;ACT;MYL the last two weeks. |
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| May 17, 2013 |
| 14:48 EDT |  | MYL, ACT | Actavis may bid for Warner Chilcott to ward off takeover, Reuters says
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| 13:56 EDT | | ACT, MYL | Actavis may purchase Warner Chilcott as takeover defense, Reuters reports
Over past few weeks, Actavis (ACT) has "spurned approaches" from Valeant (VRX) and Mylan (MYL), and has instead pursued a bid for Warner Chilcott (WCRX), according to Reuters, citing people familiar with the situation. |
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| 07:31 EDT | | MYL | Mylan launches generic Tricor tablets
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| May 16, 2013 |
| 08:11 EDT | | ACT | Novartis says no intention of pursuing Actavis, Bloomberg reports
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| 07:46 EDT |  | ACT | Jefferies sees high probability of Actavis, Warner Chilcott merger
Jefferies believes a takeover of Warner Chilcott (WCRX) by Actavis (ACT) would make strategic and financial sense and would be significantly accretive to Actavis. The firm sees a high probability of a deal getting done and raised its price target for Actavis to $120 from $81 while keeping a Hold rating on the name. Jefferies estimates a deal at $24 per Warner Chilcott share would be accretive to Actavis' 2014 earnings by $5.31. |
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| May 15, 2013 |
| 19:37 EDT | | ACT, MYL | Novartis weighing Actavis bid, WSJ reports
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| 18:17 EDT | | ACT | Novartis weighs possible bid for Actavis, DJ reports
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| 17:36 EDT | | MYL | Paulson gives quarterly update on stakes
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| 11:42 EDT | | MYL | Mylan launches generic Zomig tablets
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| 07:03 EDT | | MYL, ACT | Mylan highly unlikely to acquire Actavis, says Barclays
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| May 14, 2013 |
| 13:55 EDT | | MYL, ACT | Actavis weighing over $5B bid for Warner Chilcott, snubbed Mylan, Bloomberg says
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| 13:36 EDT | | ACT | Actavis discussing over $5B bid for Warner Chilcott, Bloomberg reports
Bloomberg cites a source. |
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| 13:22 EDT | | ACT, MYL | Actavis turned down $15B takeover bid from Mylan, Bloomberg reports
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| 07:18 EDT |  | ACT | BofA/Merrill to host a conference
2013 Health Care Conference is being held in Las Vegas on May 14-16. |
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| May 13, 2013 |
| 12:14 EDT | | ACT | Actavis price target raised to $140 from $125 at Buckingham
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| 09:44 EDT | | TEVA | Several companies reportedly interested in buying Adcock Ingram, Globes says
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| 09:04 EDT | | ACT | Actavis NDA for progestin-only patch accepted for filing by FDA
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| 09:00 EDT | | ACT | Warner Chilcott price target raised to $21 from $18 at Susquehanna
Susquehanna raised its price target on Warner Chilcott (WCRX) following its confirmation it is in discussions with Actavis (ACT) about a business combination. The firm believes the possible combination is compelling and worth exploring. Shares are Positive rated. |
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| 07:49 EDT | | TEVA, ACT | FDA decision on Opana a modest positive for Impax, says Leerink
Leerink views the FDA's denial of Endo's (ENDP) Citizen Petition as a modest positive for Impax (IPXL), which it notes is the sole holder of 180 day exclusivity on generic Opana. However, Leerink says upside for Impax will be limited as Actavis (ACT), Sandoz, and Teva (TEVA) have settlements to enter the market starting in June 2013 when Impax's 180-day generic exclusivity expires. |
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| May 10, 2013 |
| 16:29 EDT |  | ACT | On The Fly: Closing Wrap
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