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Stock Market & Financial Investment News

News Breaks
July 23, 2014
10:45 EDTTEVA, TEVA, HSP, HSP, VRX, VRX, MYL, MYL, ENDP, ENDP, PRGO, PRGO, ACT, ACT, JAZZ, JAZZ, MNK, MNK, SLXP, SLXPDeutsche Bank hosts an analyst Specialty Pharma/Industry conference call
Analyst will discuss his initiation of coverage of Specialty Pharmaceuticals on a conference call on July 23 at 11 am. Tickers to be discussed include TEVA, MNK, JAZZ, ACT, PRGO, ENDP, MYL, VRX, HSP, SLXP.
News For TEVA;MNK;JAZZ;ACT;PRGO;ENDP;MYL;VRX;HSP;SLXP From The Last 14 Days
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January 21, 2015
08:38 EDTTEVAMomenta announces Supreme Court decision to remand generic Copaxone back to CAFC
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07:22 EDTACTActavis price target raised to $330 from $280 at Deutsche Bank
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January 20, 2015
14:37 EDTTEVA, MYLTeva generic competition to Copaxone pushed out by ruling, says BMO Capital
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14:31 EDTSLXPSalix climbs after Reuters says strategic options being explored
Shares of Salix Pharmaceuticals (SLXP) are jumping after Reuters reported that the company is working with investment bank Centerview Partners to explore strategic options, including a possible sale to a larger peer. On January 6, Cantor and Piper Jaffray wrote that the retirement of the company's CEO increased the chances that it would look to sell itself. Salix develops treatments for bowel disorders. WHAT'S NEW: Salix has hired Centerview Partners to help it explore various options, including a possible sale to a larger drug maker, Reuters reported this afternoon, citing three unnamed sources. However, Salix has not determined if it will look to sell itself now or wait until it hires a new CEO, the news service added. ANALYST VIEW: On January 6, after Salix announced that its CEO would retire, Cantor analyst Irina Koffler wrote that the retirement could "pave the way" for a sale of the company. The analyst wrote that "all options could be on the table." She raised her price target on the stock to $145 from $127 and kept a Buy rating on Salix shares. Similarly, Piper Jaffray analyst David Amsellem wrote that the CEO's departure, combined with the company's announcement last month of an accelerated workdown of its inventory levels, sets the stage for an eventual sale of the company. There would be "ample interest" in acquiring the company, added the analyst, who kept a $130 price target and Overweight rating on the shares. PRICE ACTION: In mid-afternoon trading, Salix jumped about 5% to trade near $126 per share.
14:23 EDTSLXPSalix calls active on exploring options report
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14:13 EDTSLXPSalix exploring options, including potential sale, Reuters reports
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13:48 EDTSLXPSalix exploring options with help of Centerview, Reuters reports
12:56 EDTMYL, TEVAMylan says continues to believe '808 patent is 'invalid'
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11:29 EDTTEVATeva says Supreme Court reverses circuit court judgment on Copaxone 20 mg/mL
Teva Pharmaceutical announced the U.S. Supreme Court’s decision in Teva Pharmaceuticals USA, Inc. et al. Petitioners v. Sandoz Inc. et al. that reversed the Federal Circuit Court’s judgment of invalidity of Teva’s ‘808 patent for COPAXONE 20 mg/mL. The Supreme Court remanded the case to the Federal Circuit for further review in light of the applicable standard the Supreme Court laid out for appellate review of claim construction. A ruling last year by the U.S. Court of Appeals for the Federal Circuit upheld four Teva patents that expired in May 2014, while invalidating the ‘808 patent that is set to expire on September 1, 2015. “We are encouraged by the U.S. Supreme Court’s Decision and look forward to the Federal Circuit’s review. We will continue to explore all available avenues to protect our intellectual property for COPAXONE 20mg/mL,” said Erez Vigodman, President and CEO of Teva. “There is currently no FDA-approved follow-on version of Teva’s COPAXONE. We are encouraged by the FDA’s willingness to date to have dialogue regarding the complexities of COPAXONE 20 mg/mL and the potential limitations and other unknowns of purported follow-on versions,” added Rob Koremans, MD, President and CEO of Global Specialty Medicines at Teva.
11:16 EDTPRGOPerrigo management to meet with B. Riley
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10:45 EDTTEVATeva spikes, retraces, after win in Copaxone patent case
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10:40 EDTMYL, TEVAMomenta Pharma sinks after Supreme Court rules on Copaxone
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10:35 EDTTEVATeva rises after patent ruling upheld by Supreme Court
The Supreme Court upheld a lower court ruling related to generic versions of Teva's Copaxone drug. In the ruling, the court wrote that "When reviewing a district court’s resolution of subsidiary factual matters made in the course of its construction of a patent claim, the Federal Circuit must apply a “clear error,” not a de novo, standard of review." Teva shares are up 1.5% to $58.58 in early trading after the ruling. Reference Link
07:00 EDTENDPEndo price target raised to $98 from $86 at Piper Jaffray
Piper Jaffray raised its price target for Endo shares to $98 saying Xiaflex's market expansion opportunities are not fully appreciated by the broader market. It keeps an Overweight rating on the stock.
05:34 EDTACTActavis reports positive Phase III results for cariprazine
Gedeon Richter and Actavis announced positive results from a Phase III trial evaluating the efficacy and safety of cariprazine in the prevention of relapse in patients with schizophrenia. There were 101 patients randomized to cariprazine 3 to 9 mg per day and 99 randomized to placebo. The primary efficacy measure was time to first relapse during the double-blind period. There were 25 relapses in the cariprazine group versus 47 relapses in the placebo group. Treatment with cariprazine was associated with a 55% reduction in risk of relapse versus placebo.
January 15, 2015
14:31 EDTMYLMylan launches generic Epivir-HBV tablets
Mylan (MYL) announced the U.S. launch of its Lamivudine Tablets, 100 mg, which is the generic version of GlaxoSmithKline's (GSK) Epivir-HBV. Mylan received final approval from the U.S. FDA for its Abbreviated New Drug Application for this product, which is indicated for the treatment of chronic hepatitis B virus infection associated with evidence of hepatitis B viral replication and active liver inflammation. Lamivudine Tablets, 100 mg, had U.S. sales of approximately $18.1M for the 12 months ending September 30, 2014, according to IMS Health. Currently, Mylan has 284 ANDAs pending FDA approval representing $109.1B in annual brand sales, according to IMS Health. Forty-four of these pending ANDAs are potential first-to-file opportunities, representing $29.3B in annual brand sales, for the 12 months ending June 30, 2014, according to IMS Health.
January 14, 2015
18:18 EDTACTOn The Fly: After Hours Movers
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16:59 EDTACTGalena, Orexo AB receive "Paragraph IV" patent certification notice from Actavis
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12:49 EDTJAZZOn The Fly: Midday Wrap
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12:09 EDTJAZZFlamel Technologies plunges after Jazz gets favorable patent ruling
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