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News Breaks
July 9, 2014
07:15 EDTMYL, TEVATeva, others fined $583.4M by EU regulators, Reuters says
Teva (TEVA), Servier and four other drug companies were fined a total of $583.4M by EU antitrust regulators for blocking less-expensive generic medicine, according to Reuters, citing a statement from European Competition Commissioner Joaquin Almunia. The other penalized companies were Unichem and its subsidiary Niche, as well as Matrix, which is now known as Mylan (MYL) Laboratories, and Slovenian peer Krka and Lupin. Reference Link
News For TEVA;MYL From The Last 14 Days
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April 17, 2015
14:31 EDTMYL, TEVAMylan jumps after reports of potential bid from Teva
Shares of Mylan (MYL) jumped in afternoon trading after The Wall Street Journal and Bloomberg separately reported that Teva (TEVA) is exploring a takeover offer for the company. Both reports, which each cited sources, said Teva is evaluating a bid internally, but that the company has not made any formal offer as of yet. WHAT'S NOTABLE: In a note to investors this morning, analysts at Cowen said the approval of a generic version of Teva's 20mg Copaxone should spur management to make a value-creating decision to acquire Mylan. The firm also believes in Teva's skill in protecting its Copaxone asset and said now is the time to pursue aggressive strategic actions. Cowen reiterated its Outperform rating and $100 price target on Teva shares. ANOTHER TO WATCH: On April 8, Mylan announced that it delivered to Perrigo's Chairman on April 6 a non-binding proposal to buy the company for $205 per share in a combination of cash and Mylan stock. RBC Capital analyst Randall Stanicky said earlier this week he believed Perrigo may be engaging other companies in talks after Mylan made its offer public. Stanicky sees no clear competing bidder for Perrigo, however, and used a $230 per share takeover while analyzing possible deals. PRICE ACTION: In afternoon trading, Mylan shares rose 5.6% to $70.58, Teva added 3.7% to $65.53 and Perrigo fell 2.5% to $193.99.
14:23 EDTMYL, TEVAMylan jumps after Dow Jones says Teva considering bid
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14:21 EDTTEVA, MYLTeva weighing potential bid for Mylan, Dow Jones says
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12:56 EDTMYL, TEVAFederal Circuit upholds Mylan's patents on Perforomist inhalation solution
Mylan (MYL) announced the United States Court of Appeals for the Federal Circuit upheld the validity and infringement of all four patents asserted by Mylan Specialty, L.P. protecting its Perforomist Inhalation Solution. The Court summarily affirmed the previous decision by the district court against Teva (TEVA). Today's decision prevents Teva from receiving final approval of its ANDA from the FDA prior to expiration of U.S. Patent Nos. 6,667,344; 6,814,953; 7,348,362; and 7,462,645. Those patents cover Perforomist until they expire in June 2021.
08:12 EDTTEVATeva pullback a buying opportunity, says Leerink
Leerink views yesterday's pullback in shares of Teva after generic Copaxone was approved as a buying opportunity. The firm notes Teva remains confident in its $5 earnings per share floor. Leerink views the company's outlook as "bright" and keeps an Outperform rating on the name.
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 EDTTEVA, MYLGeneric 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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April 13, 2015
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.
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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