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Stock Market & Financial Investment News

News Breaks
July 9, 2014
06:49 EDTACT, LCI, TEVA, MYLGeneric drug prices have risen significantly, NY Times says
The cost of some generic drugs has risen rapidly since last year, according to The New York Times, which cited information from research firm EvaluatePharma. Publicly traded generic drug companies include Teva (TEVA), Mylan (MYL), Actavis (ACT) Impax Laboratories (IPXL), and Lannett (LCI). Reference Link
News For TEVA;MYL;ACT;LCI From The Last 14 Days
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August 27, 2014
15:43 EDTLCILannett reports Q4 EPS 64c, consensus 58c
Reports Q4 revenue $80.6M, consensus $79.06M.
15:27 EDTLCINotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Workday (WDAY), consensus (14c); Williams-Sonoma (WSM), consensus 53c; Bally Technologies (BYI), consensus $1.22; Guess (GES), consensus 29c; Lannett (LCI), consensus 58c; Greif (GEF), consensus 84c.
August 22, 2014
16:11 EDTACTActavis confirms generic Neupro patent challenge
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08:02 EDTMYLMylan launches first generic Klor-Con Extended-release tablets
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August 21, 2014
15:16 EDTACT, TEVADEA restricts painkiller drug prescriptions to curb abuse, WSJ reports
The Drug Enforcement Agency, or DEA, will reclassify hydrocodone combination painkiller drugs and place them in the category of medical substances that have the highest potential for harm in an attempt to curb the widespread abuse of the drugs, according to The Wall Street Journal. The rescheduling of the drugs will take effect in 45 days and result in people being able to obtain the drug for only 90 days without obtaining a new prescription. Major manufacturers of these drugs include Teva Pharmaceutical (TEVA), Mallinckrodt (MNK), AbbVie (ABBV), and Actavis (ACT). Reference Link
07:55 EDTACTActavis volatility expected to move on Pfizer considering new target report
Actavis (ACT) volatility is expected to move on Pfizer (PFE) considering other overseas alternatives, Bloomberg reports. Overall option implied volatility of 27 is near its 26-week average of 31 according to Track Data, suggesting decreasing price movement.
07:47 EDTACTPfizer looking at new targets, including Actavis, Bloomberg reports
While it weighs another attempt to acquire AstraZeneca (AZN), Pfizer is considering other overseas alternatives, including Actavis (ACT), Bloomberg reports, citing people familiar with the matter. Pfizer prefers to reach a deal with AstraZeneca, and a move on another company is unlikely "anytime soon," Bloomberg adds, citing its sources. Shares of Actavis are rising 3%, or $6.65, to $230.01 in pre-market trading, while AstraZeneca is up 2% to $72.59. Reference Link
07:38 EDTACTSupernus announces paragraph IV Abbreviated NDA filing for Trokendi XR
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August 20, 2014
11:44 EDTMYLMylan completes second bidding round for GSK prescription portfolio, WSJ says
Mylan (MYL), TPG Capital, Advent International, KKR (KKR), Warburg Pincus and a few Indian prescription manufacturers have completed the second round of bidding for GlaxoSmith Kline's (GSK) portfolio of mature medications, according to The Wall Street Journal, citing people familiar with the sales process. GSK noted that it aims to sell a portfolio of drug brands in the U.S. and EU with yearly sales of approximately $1.66B. Reference Link
11:35 EDTLCILannett expects to launch Estradiol tablets within the next several months
Lannett Company announced that it has agreed to purchase ANDAs for Estradiol Tablets, USP, 0.5 mg, 1 mg and 2 mg, and Selegiline Hydrochloride Capsules 5 mg, upon the completion of a successful technical transfer. The company did not disclose the name of the seller nor the financial terms of the transaction. Lannett expects to launch Estradiol Tablets within the next several months and Selegiline Hydrochloride Capsules sometime thereafter. According to IMS, for the full year 2013 total sales of Estradiol Tablets, USP, 0.5 mg, 1 mg and 2 mg, and Selegiline Hydrochloride Capsules 5 mg at Average Wholesale Price were approximately $31M and $8.5M, respectively. The reference listed drug manufacturer for Estradiol Tablets is Barr Laboratories; Selegiline Hydrochloride Capsules 5 mg is the generic equivalent of Somerset Pharmaceuticals, Inc.’s Eldepryl. “We are pleased to add Estradiol Tablets and Selegiline Hydrochloride Capsules to our offering,” said Arthur Bedrosian, president and chief executive officer of Lannett. “The acquisition of these two important medications further expands and diversifies our product portfolio and complements our internal research and development efforts.”
11:33 EDTMYLMylan into second round of bidding for GSK drug portfolio, WSJ reports
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10:08 EDTLCILannett does not expect study to significantly impact Digoxin sales
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07:56 EDTLCILannett digoxen use in clinics unlikely to change, says Canaccord
Canaccord said the use of Lannett's digoxen drug was only prescribed to critically ill Afib patients so the mortality risk cited in a retrospective study by Turakhia is not surprising. Given the risk of thrombotic events from Afib progression far outweighing the mortality risk the firm sees little change to clinical practice. Shares of Lannett are Buy rated with a $55 price target.
August 19, 2014
12:26 EDTLCILannett downgraded to Hold from Buy at Craig-Hallum
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11:44 EDTMYLMylan launches generic Precedex Injection
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11:18 EDTACTDepomed announces favorable ruling in Gralise case
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10:32 EDTACTDepomed higher after favorable ruling in Gralise case
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09:47 EDTLCILannett could see decreased digoxin sales, says Craig-Hallum
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07:26 EDTACTActavis confirms positive results from RECLAIM pivotal Phase III studies
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05:11 EDTTEVAGamida Cell announces investment, option agreement with Novartis
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