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Stock Market & Financial Investment News

News Breaks
June 2, 2014
09:47 EDTACT, PG, TEVATeva announces new organizational structure, senior leadership changes
Teva Pharmaceutical Industries announced a new organizational structure and related executive positions, which will become effective July 1. These changes are another key step in Teva's strategic direction to create a less complex, integrated company that can address the evolving needs of patients in the global markets in the most efficient, innovative and differentiated manner possible, the company said. Teva will be spearheaded by two commercial business units – Global Specialty Medicines, established in April 2013, and the newly-formed Global Generic Medicines group. GGM will have full global responsibility for all existing generic markets. GGM will also be responsible for Teva's growing Over-the-Counter (OTC) business, led by Teva's joint venture with Procter and Gamble (PG). Teva announced that Sigurdur Olafsson has been appointed President and CEO of the newly formed Global Generic Medicines group and will assume this position on July 1, based in the U.S. Olafsson joins Teva from his previous role as President of Actavis Pharma (ACT). GSM, led by Dr. Rob Koremans, is responsible for Teva's global specialty medicines business and will continue to drive organic growth, with a strong pipeline of patient-centric solutions and new brands.
News For TEVA;PG;ACT From The Last 14 Days
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June 24, 2015
08:04 EDTTEVATeva launches PainMatters.com to support ‘responsible pain management’
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June 23, 2015
14:16 EDTTEVABMO Capital sees strong fundamentals in Perrigo regardless of Mylan deal
Shares of Perrigo (PRGO) are trading higher intraday after BMO Capital Markets initiated coverage of the stock with an Outperform rating. The research firm is bullish on the shares regardless of whether Mylan's bid for the company succeeds, saying Perrigo is well-positioned to ride momentum in reduced-price healthcare. WHAT'S NEW: BMO Capital Markets' David Maris initiated coverage of Perrigo with an Outperform rating and a $246 price target. Maris cited the company's 70%-plus market share in store- and private-label brands, as well as its roughly $1B annual sales in the generics space. The analyst believes Perrigo will see continued benefit from larger trends driving consumer-centric healthcare and the curtailing of medical costs. WHAT'S NOTABLE: BMO Capital Markets noted that two upcoming Tysabri-related events are not accounted for by the Street, giving rise to a "significant" undervaluing of the shares. Mylan (MYL) has submitted multiple unsolicited offers for Perrigo, and while the likelihood of the deal seems low given Perrigo's numerous rejections and Teva's (TEVA) 4.61% blocking stake in Mylan. BMO Capital remarked that a failed deal should see "limited downside" for Perrigo. There could certainly be near-term volatility if a Mylan agreement doesn't materialize, but the analyst was confident in the well-positioned company's ability to deliver on both earnings per share and cash flow. PRICE ACTION: Shares of Perrigo are up nearly 2% in afternoon trading. The company saw a nearly 25% leap following Mylan's initial offer on April 8, though it has since dipped from that high.
08:49 EDTTEVAMylan CFO to meet with Tel Aviv bourse head Wednesday, Reuters says
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06:33 EDTPGOnline market for razors growing quickly, WSJ reports
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June 21, 2015
19:53 EDTTEVAMylan CEO says Teva's 4.61% stake may be 'illegal,' Bloomberg reports
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June 19, 2015
08:30 EDTTEVATeva completes purchase of 4.61% interest in Mylan
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07:23 EDTTEVATeva data quite strong, says Bernstein
After Teva (TEVA) announced data for its TEV-48125 drug in episodic migraine, Bernstein notes that the drug met its primary and secondary endpoints. The firm says that the reduction in migraine days of Teva's drug appears to be higher than what Amgen (AMGN) and Lilly (LLY) have shown. The firm continues to see the migraine treatments from Teva and Alder as better than those from Lilly and Amgen.
June 18, 2015
17:05 EDTTEVANovartis announces U.S. launch of Glatopa
Sandoz, a Novartis (NVS) company, announced the U.S. launch of Glatopa, the first generic version of Teva's (TEVA) Copaxone 20 mg/ml one-time-daily multiple sclerosis therapy.
15:41 EDTTEVATeva tender offer for Mylan likely imminent, says Citi
Citi said Teva (TEVA) is likely to build up a 4.6% stake in Mylan (MYL) by today and that a formal tender offer is likely coming soon. An official bid could come with a provision requiring board changes and a tender will likely trigger a "poison pill" by Mylan, the firm added. Citi has a Buy rating and $70 price target on Teva shares.
12:51 EDTTEVATeva guidance assumed launch of Copaxone generic, says BMO Capital
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11:57 EDTTEVAMylan comments on ruling by appeals court on Copaxone patent
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11:54 EDTTEVAAppeals court invalidates Teva patent claim related to Copaxone
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10:41 EDTTEVAMomenta reports CAFC decision to invalidated remanded Teva patent
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09:11 EDTTEVAAlexza Pharmaceuticals amends Adasuve commercial partnership agreements
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08:34 EDTTEVATeva to present new data from Phase 2b migraine prevention studies at AHS
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08:02 EDTTEVATeva, Microchips Biotech announce partnership agreement
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07:36 EDTTEVAReceptos remains an attractive takeover candidate, says Leerink
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06:09 EDTTEVATeva raises stake in Mylan to 4.3%, Globes reports
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June 17, 2015
07:12 EDTTEVANeurocrine price target raised to $87 from $63 at Piper Jaffray
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06:39 EDTPGCoty downgraded to Neutral from Buy at Citi
Citi downgraded Coty (COTY) to Neutral after shares rallied on a New York Post report saying the company is in talks to acquire Procter & Gamble's (PG) beauty business for $12B. Citi sees potential challenges with the deal and notes the stock is up 65% since its upgrade in January. The firm raised its price target for shares to $32 from $29.
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