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February 14, 2013
09:11 EDTSHPG, TEVATeva's generic version of Shire's Adderall XR approved by FDA
Teva (TEVA) announced that the FDA has approved its Abbreviated New Drug Application for the generic version of Shire (SHPG)ís Adderall XR Capsules, 5mg, 10mg, 15mg, 20mg, 25mg and 30 mg capsules for the treatment of attention deficit hyperactivity disorder. Adderall XR had annual sales, including brand and generic sales, of approximately $2B in the United States.
News For TEVA;SHPG From The Last 14 Days
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November 25, 2015
07:04 EDTSHPGShire re-approaching Baxalta is feasible, says Leerink
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05:29 EDTTEVATeva enters licensing, drug-discovery agreement with Heptares Therapeutics
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November 24, 2015
15:28 EDTSHPGShire working on new Baxalta takeover bid, Reuters reports
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15:16 EDTSHPGShire readying new takeover offer for Baxalta, Reuters says
New bid could be structured as both cash and shares, Reuters says, citing a source.
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 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
07:43 EDTTEVAJefferies to hold a conference
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November 17, 2015
10:00 EDTSHPGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CF Industries (CF) upgraded to Positive at Susquehanna... ExlService (EXLS) upgraded to Buy from Neutral at BofA/Merrill... Fitbit (FIT) upgraded to Buy at BofA/Merrill... Forward Air (FWRD) upgraded to Outperform at Baird... HD Supply (HDS) upgraded to Positive from Neutral at Susquehanna... Hannover Re (HVRRY) upgraded to Overweight from Underweight at JPMorgan... Moody's (MCO) upgraded to Buy from Neutral at UBS... PRA Group (PRAA) upgraded to Strong Buy from Market Perform at Raymond James... Plum Creek Timber (PCL) upgraded to Outperform from Sector Perform at RBC Capital... Shire (SHPG) upgraded to Outperform from Market Perform at Leerink... Yandex (YNDX) upgraded to Overweight from Equal Weight at Morgan Stanley... Zayo Group (ZAYO) upgraded to Buy from Neutral at MoffettNathanson.
07:47 EDTTEVALeerink sees M&A accelerating for central nervous system assets
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November 16, 2015
16:53 EDTTEVA, SHPGPaulson reduced stake in Valeant
Paulson & Co. gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Perrigo (PRGO), CIT Group (CIT), Precision Castparts (PCP), Cameron (CAM), and Altera (ALTR). INCREASED STAKES: Teva (TEVA), Post Holdings (POST), Starwood Hotels (HOT), LivaNova (LIVN), and Synergy Pharmaceuticals (SGYP). DECREASED STAKES: Valeant (VRX), Shire (SHPG), Whiting Petroleum (WLL), Computer Sciences (CSC), and Oasis Petroleum (OAS). LIQUIDATED STAKES: Houghton Mifflin Harcourt (HMHC), Broadcom (BRCM), and Sprint (S).
16:18 EDTSHPGShire upgraded to Outperform, price target raised to $239 at Leerink
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16:02 EDTSHPGShire upgraded to Outperform from Market Perform at Leerink
09:59 EDTSHPGOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
06:01 EDTSHPGSynergy Pharmaceuticals appoints Gary Sender as CFO
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November 13, 2015
10:49 EDTTEVAMylan jumps, Perrigo plunges after hostile takeover bid fails
Shares of Mylan (MYL) jumped after the company's offer to acquire Perrigo (PRGO) failed. Perrigo shares fell after the news. WHAT'S NEW: Mylan's approximately $26B hostile takeover offer for Perrigo officially fell through Friday morning, ending a seven-month ordeal between the two companies. Mylan said that only about 40% of Perrigo's shares were tendered by the company's stockholders, falling short of the 50% required for an acquisition, forcing the offer to lapse after failing to meet its goal by the established deadline. In response to the news, Perrigo Chief Executive Officer Joseph Papa said he was "delighted" that his company's shareholders rejected the offer. "We have said all along that this offer from Mylan was a bad deal for our shareholders, as it significantly undervalued our durable business model and industry-leading future growth prospects," Papa said. Perrigo added that it will immediately commence its previously announced $2B share buyback and that it intends to complete $500M of the planned repurchase by the end of the year. WHAT'S NOTABLE: On July 27, Teva (TEVA) withdrew a takeover offer for Mylan amid Mylan's talks with Perrigo. The Israeli pharmaceutical company opted instead to purchase Allergan's (AGN) generics business. Commenting on its failure to buy Perrigo, Mylan Executive Chairman Robert Coury said in a statement that while the company viewed Perrigo as a "unique and exciting company," it was not required for the future success of the company. Coury said, "We are well-positioned to quickly execute on the next strategic, value-enhancing opportunities for our business, some of which we have already identified." STREET RESEARCH: Citi analyst Liav Abraham upgraded Mylan to Buy and raised her price target for shares to $59 from $52, saying that an overhang has been removed since the company's hostile attempt to buy Perrigo has fallen through. Abraham argued that a combination of the two companies would have been both destructive to both earnings and value for Mylan and that the failed bid will increase management's optionality to pursue other value-enhancing opportunities and enable investors to focus on the company's base business. In addition, RBC Capital Markets analyst Randall Stanicky confirmed a Sector Perform rating for both Mylan and Perrigo with price targets of $60 and $176, respectively. Stanicky said he expects Mylan's stock to gain 10%-15% towards $50 as a result of the news, while Perrigo will probably see a pull-back into the low $140s. The analyst added that the removal of the Mylan bid will drive initial weakness for Perrigo's shares but that the stock can settle close to its current levels. PRICE ACTION: In morning trading, Mylan rallied 12.5% to $48.60 and Perrigo fell 6.92% to $145.72. OTHERS TO WATCH: Teva shares trading in New York increased 0.26%, Allergan was up 0.66%, and Endo (ENDP), with which Reuters reported Perrigo held unsuccessful takeover talks, gained 5.56%.
November 12, 2015
08:02 EDTSHPGSynergy Pharmaceuticals still a saleable asset, says Canaccord
Canaccord still views Synergy Pharmaceuticals (SGYP) as a saleable asset, with Valeant (VRX) or Shire (SHPG) seen as the most obvious buyers. The firm also sees the cost of the launch of plecanatide as lower than expected and sees no need for the company to raise capital until at least the end of 2016. Canaccord reiterated its Buy rating and $19 price target on Synergy Pharmaceuticals shares.

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