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June 2, 2014
09:47 EDTPG, TEVA, ACTTeva 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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November 30, 2015
11:29 EDTTEVAOptions with increasing put volume; FSLR MON COH TEVA JD BLOX CLR
06:56 EDTTEVATeva files to sell $3.375B ADSs, $3.375B mandatory convertible preferred shares
Barclays, BofA Merrill Lynch, Citigroup, Morgan Stanley, BNP Paribas, Credit Suisse, HSBC, Mizuho Securities, RBC Capital Markets and SMBC Nikko are acting as the joint book-running managers for the offerings.
06:53 EDTTEVATeva files automatic mixed securities shelf
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05:16 EDTTEVATeva enters partnership with Takeda Pharmaceutical
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November 25, 2015
05:29 EDTTEVATeva enters licensing, drug-discovery agreement with Heptares Therapeutics
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November 23, 2015
10:00 EDTTEVAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abercrombie & Fitch (ANF) upgraded to Peer Perform from Underperform at Wolfe Research... Constellation Brands (STZ) upgraded to Outperform from Market Perform at Cowen... Dick's Sporting (DKS) upgraded to Buy from Hold at Canaccord... Encana (ECA) upgraded to Buy from Hold at Evercore ISI... Genomic Health (GHDX) upgraded to Buy from Neutral at UBS... HP Inc. (HPQ) upgraded to Buy from Hold at Maxim... Heritage Commerce (HTBK) upgraded to Buy from Hold at Sandler O'Neill... James River Group (JRVR) upgraded on improved outlook at BMO Capital... Kellogg (K) upgraded to Outperform from Neutral at Credit Suisse... KeyCorp (KEY) upgraded to Buy from Hold at Jefferies... Och-Ziff Capital (OZM) upgraded to Outperform from Market Perform at Keefe Bruyette... PBF Energy (PBF) upgraded to Buy from Neutral at Goldman... Panera Bread (PNRA) upgraded to Buy from Hold at Maxim... Parkway Properties (PKY) upgraded to Buy from Neutral at Mizuho... PepsiCo (PEP) upgraded to Neutral from Reduce at Nomura... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Sonoco (SON) upgraded to Outperform from Neutral at Macquarie... Synchrony (SYF) upgraded to Buy from Neutral at Sterne Agee CRT... Telecom Argentina (TEO) upgraded to Neutral from Sell at Goldman... Teva (TEVA) upgraded to Buy from Neutral at Goldman... TransAlta (TAC) upgraded to Sector Perform from Underperform at RBC Capital... Universal Insurance (UVE) upgraded to Outperform at Keefe Bruyette... Willis Group (WSH) upgraded to Hold from Sell at Deutsche Bank... YPF (YPF) upgraded to Buy from Neutral at Goldman.
07:06 EDTTEVAPfizer sees Allergan deal closing in 2H16
The completion of the transaction, which is expected in the second half of 2016, is subject to certain conditions, including receipt of regulatory approval in certain jurisdictions, including the United States and European Union, the receipt of necessary approvals from both Pfizer (PFE) and Allergan shareholders, and the completion of Allergan's (AGN) pending divestiture of its generics business to Teva Pharmaceuticals Ltd (TEVA)., which Allergan expects will close in the first quarter of 2016. Pursuant to the terms of the merger agreement, the Allergan parent company will be the parent company of the combined group. A wholly owned subsidiary of Allergan will be merged with and into Pfizer, and subject to receipt of shareholder approval, the Allergan parent company will be renamed "Pfizer plc" after the closing of the transaction. Immediately prior to the merger, Allergan will effect an 11.3-for-one share split so that each Allergan shareholder will receive 11.3 shares of the combined company for each of their Allergan shares, and the Pfizer stockholders will receive one share of the combined company for each of their Pfizer shares. Pfizer's U.S. stockholders will recognize a taxable gain, but not a loss, for U.S. federal income tax purposes. The transaction is expected to be tax-free for U.S. federal income tax purposes to Allergan shareholders. Pfizer stockholders will have the opportunity to elect to receive cash instead of stock of the combined company for some or all of their Pfizer shares, provided that the aggregate amount of cash to be paid in the merger will not be less than $6 billion or greater than $12 billion. In the event that the aggregate cash to be paid in the merger would otherwise be less than $6 billion or greater than $12 billion, then the stock and cash elections will be subject to proration. Following the transaction, and assuming that all $12 billion of cash is paid in the merger, it is expected that former Pfizer stockholders will hold approximately 56% of the combined company and Allergan shareholders will own approximately 44% of the combined company on a fully diluted basis. As a result of the combination with Allergan and subsequent integration of the two companies, Pfizer now expects to make a decision about a potential separation of the combined company's innovative and established businesses by no later than the end of 2018. Pfizer plc's board is expected to have 15 directors, consisting of all of Pfizer's 11 current directors and 4 current directors of Allergan. The directors from Allergan will be Paul Bisaro, Allergan's current Executive Chairman, Brent Saunders, Allergan's current CEO, and two other directors from Allergan to be selected at a later date. Ian Read, Pfizer's Chairman and CEO, will serve as Chairman and CEO of the combined company. Brent Saunders will serve as President and Chief Operating Officer of the combined company. He will be responsible for the oversight of all Pfizer and Allergan's combined commercial businesses, manufacturing and strategy functions.
05:16 EDTTEVATeva upgraded to Buy from Neutral at Goldman
Goldman Sachs analyst Jami Rubin upgraded Teva Pharmaceuticals (TEVA) to Buy saying the setup for 2016 is attractive following the pullback in shares that began in late July. Several share overhangs will be removed in the near-term, with a likely equity offering ahead of Allergan (AGN) genetics unit purchase and recent quantification of Copaxone generic downside risk, Rubin tells investors in a research note. The analyst keeps a $75 price target for Teva. The generic pharmaceutical giant closed Friday up 68c to $61.72.
November 22, 2015
12:56 EDTPGProcter & Gamble breakup could yield 25% return, Barron's says
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November 19, 2015
13:52 EDTTEVAMylan announces U.S. launch of generic Adderall tablets
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09:02 EDTTEVATeva, UCL start unique brain imaging study
Teva Pharmaceuticals and University College London, or UCL, announced the start of a "unique" study, combining state-of-the-art brain imaging with key biomarkers, aimed at building a better understanding of the role of inflammation in neurodegenerative disease and potentially a new approach in its early diagnosis and treatment. The Pilot Longitudinal Study in Alzheimer's Disease of Central Markers of Microglial Activation, or PADMMA, study is a two-year study in 20 patients that will assess, using PET imaging, the prevalence and pattern of activation of a specific type of cell, called microglia, in the central nervous system in people with certain symptoms of neurodegenerative disease. It is key demonstration of Teva's commitment towards dementia research made following the UK Government's Dementia Summit, spearheaded by UK Prime Minister David Cameron.
08:02 EDTTEVATeva reports 'positive' results from Phase III Asthma treatment trials
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November 18, 2015
09:09 EDTPGProcter & Gamble says 'not averse' to looking at any option that creates value
Says "not averse" to looking at any option that creates value for shareholders.
08:57 EDTPGProcter & Gamble CFO sees organic sales topline growth resuming in Q2
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08:46 EDTPGProcter & Gamble repeats FY16 guidance in presentation slides
Sees FY16 core EPS growth down slightly to up mid single digits, all-in EPS growth up 53%-63%. Sees FY16 core operating profit up mid to high single digits. Sees FY16 organic sales growth in line to up low single digits, all-in sales growth down high single digits. Sees currency down 5%-6%, Venezuela and minor brand divestitures down 2%-3%. Sees FY16 share retirement/repurchases $8B-$9B, dividends over $7B, cash returned to shareholders $15B-$16B. Comments from slides being presented at the Morgan Stanley Global Consumer and Retail Conference.
07:43 EDTTEVAJefferies to hold a conference
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November 17, 2015
07:52 EDTPGMorgan Stanley to hold a conference
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07:47 EDTTEVALeerink sees M&A accelerating for central nervous system assets
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