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Stock Market & Financial Investment News

News Breaks
June 17, 2014
08:05 EDTTEVA, MYL, NVS, ACTTeva reaches settlement in NUVIGIL patent case
Teva (TEVA) announced that it has reached settlements with Sandoz (NVS), Actavis (ACT), Lupin and Apotex with respect to U.S. Patent 7,132,570 for Teva’s wakefulness product, NUVIGIL tablets. These settlements dismiss a pending appeal with the United States Court of Appeals for the Federal Circuit of a trial court decision that found the ‘570 patent to be valid and infringed. Teva has reached settlements with each of these companies, granting licenses to allow these parties to market their generic products 180 days after Mylan (MYL), the first generic company to file an abbreviated new drug application for the 50 mg, 150 mg, and 250 mg dosages of NUVIGIL. The settlements allow Actavis to launch generic 100 mg and 200 mg dosages in June 2016, and the others may launch these dosages 180 days after Actavis in the 100 mg and 200 mg dosage forms. Additional terms of the settlements are agreed by the parties to remain undisclosed. Previously, Teva settled its patent infringement litigation regarding the ‘570 patent against Mylan, which allowed Mylan to begin selling generic versions of 50 mg, 150 mg, and 250 mg NUVIGIL® under license beginning in June 2016, or earlier under certain circumstances.
News For TEVA;MYL;NVS;ACT From The Last 14 Days
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July 15, 2014
05:35 EDTNVSNovartis collaborates with Banner Alzheimer's Institute on study
Novartis announced a collaboration with Banner Alzheimer's Institute, or BAI, on a pioneering clinical study in Alzheimer's disease, or AD, prevention. The study will determine whether two Novartis investigational anti-amyloid treatments can prevent or delay the emergence of symptoms of AD in people identified as being at genetic risk for developing the late-onset form of the disease. Using an innovative trial design, the two treatments will be given in cognitively healthy people at genetic risk of developing the build-up of amyloid protein in the brain that may eventually lead to AD. One treatment is an active immunotherapy, a treatment that stimulates an immune response, and triggers the production of natural antibodies against amyloid. This investigational treatment, given via an injection, is in phase II clinical development. The second treatment, a BACE inhibitor, is an oral medication about to enter phase I trials and is designed to prevent the production of different forms of amyloid.
July 14, 2014
16:30 EDTMYLOn The Fly: Closing Wrap
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12:21 EDTMYLOn The Fly: Midday Wrap
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09:45 EDTMYLMylan moves higher, levels to watch
Abbott (ABT) sold its developed markets generics pharmaceuticals business to Mylan (MYL), which is sending shares of the latter higher to $51.83. At that price next resistance is at $53, the session high. Support is at $50.88.
09:16 EDTMYLOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
08:55 EDTMYLMylan says does not anticipate regulatory hurdles prohibiting close of deal
08:49 EDTMYLMylan says Abbott assets unlike other mature generic drug portfolios
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08:36 EDTMYLMylan accretive tax inversion deal makes sense, says UBS
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08:27 EDTMYLMylan sees Abbott transaction to be 'immediately and significantly accretive'
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08:26 EDTMYLMylan sees $10B in pro forma 2014 sales after closing Abbott deal
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08:12 EDTMYLMylan says Abbott deal 'first in series' of planned transactions
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08:04 EDTTEVATeva announces FDA acceptance of NDA filing for albuterol MDPI
Teva Pharmaceuticals Industries announced that the U.S. Food and Drug Administration has accepted for review the company’s new drug application for albuterol multi-dose dry-powder inhaler, an investigational breath-actuated dry-powder inhaler for the treatment or prevention of bronchospasm in patients 12 years of age and older with reversible obstructive airway disease; and for the prevention of exercise-induced bronchospasm in patients 12 years of age and older. The NDA filing includes data from eight clinical studies that evaluated the safety and efficacy of albuterol MDPI in adults and adolescents with asthma and exercise-induced bronchospasm. The NDA for albuterol MDPI has been accepted by the FDA for standard review, with a FDA Regulatory Action expected in March 2015.
07:28 EDTMYLMylan to host conference call
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07:23 EDTNVSAlzheimer's Association to hold a conference
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07:20 EDTMYLAbbott to host conference call
Conference call to discuss agreement to sell developed markets branded generics pharmaceuticals business to Mylan will be held on July 14 at 9:30 am. Webcast Link
06:54 EDTMYLWhiting Petroleum volatility expected to move on acquisition of Kodiak Oil & Gas
Whiting Petroleum (WLL) option implied volatility is expected to move on the acquisition of Kodiak Oil & Gas (KOG) in an all-stock transaction valued at $6B. Overall option implied volatility of 31 is at its 26-week average according to Track Data, suggesting non-directional price movement.
06:33 EDTMYLAbbott to sell developed markets generics pharmaceuticals business to Mylan
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06:33 EDTMYLMylan to acquire Abbott assets in all-stock transaction valued at about $5.3B
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06:31 EDTMYLAbbott to sell developed markets generics pharmaceuticals business to Mylan
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July 13, 2014
20:22 EDTMYLMylan near buying Europe-based drug portfolio from Abbott, Reuters says
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