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Stock Market & Financial Investment News

News Breaks
March 5, 2014
08:37 EDTACT, SHPG, VRX, AGN, TEVARussia actions could disrupt specialty pharmaceutical sales, says Susquehanna
Susquehanna notes that Russia has been a growth market for specialty pharmaceutical companies such as Teva (TEVA), Valeant (VRX), Actavis (ACT), Allergan (AGN), and Shire (SHPG). The firm factored the sensitivity of a 10% sales impact would translate into roughly 1.0% or less of earnings. The firm said Teva and Valeant have the most sales exposure and that currency could create incremental top line pressure.
News For TEVA;VRX;ACT;AGN;SHPG From The Last 14 Days
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June 26, 2015
10:38 EDTTEVACourt revives lawsuit over GlaxoSmithKline Lamictal drug, Bloomberg reports
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09:37 EDTVRXValeant unlikely to pursue Zoetis acquisition, CNBC's Faber says
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09:33 EDTVRXValeant made Zoetis approach as courtesy to Ackman, CNBC reports
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09:33 EDTVRXValeant not going to pursue Zoetis acquisition, CNBC's Faber reports
06:06 EDTVRXZoetis downgraded to Market Perform from Outperform at BMO Capital
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06:02 EDTVRXJPMorgan assumes Valeant pays $60/share for Zoetis
JPMorgan analyst Chris Schott believes Zoetis (ZTS) would bring "an attractive, durable, cash-pay business" to Valeant's portfolio should a merger occur. The Wall Street Journal last night reported that Valeant has approached Zoetis regarding a potential takeover. Schott sees the deal being minimally accretive to near-term earnings, and assumes Valeant pays $60 per share for Zoetis, or a 20% premium to Wednesday's closing price. The analyst thinks any offer would include a substantial equity component given Valeant's levered balance sheet following the Salix acquisition. Schott keeps an Overweight rating on Valeant and a Neutral rating on Zoetis.
June 25, 2015
16:13 EDTVRXValeant made preliminary takeover approach to Zoetis, WSJ reports
Valeant Pharmaceuticals (VRX) made a preliminary approach regarding a potential deal to buy Zoetis (ZTS), said The Wall Street Journal, citing people familiar with the matter. The report said it was not clear if Zoetis is open to a sale or what was the company’s reaction to the approach. Zoetis share spiked more than 11% into the close following the report and are up another 1% to $55.95 in after hours trading. Reference Link
15:58 EDTVRXZoetis jumps 11%, halted for circuit breaker after report of Valeant approach
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15:57 EDTVRXValeant made preliminary takeover approach to Zoetis, DJ reports
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13:59 EDTTEVATeva initiated with a Hold at HSBC
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13:58 EDTSHPGShire initiated with a Reduce at HSBC
Price target GBP 47.34.
12:52 EDTTEVAEU to decide by July 29 on Mylan's bid for Perrigo, Reuters reports
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08:13 EDTAGNAllergan CEO: Irvine campus ‘crucial’ to company, L.A. Times reports
New Allergan CEO Brent Saunders said that the company’s Irvine, California campus is “crucial” to the recently purchased organization, the L.A. Times reports, citing comments from Saunders in an interview. Allergan was purchased in March by Actavis, a move which led to the layoff of roughly 600 employees from the Irvine offices, the report says. Saunders said that the “bleeding has stopped” after a round of layoffs, the L.A. Times says. Reference Link
08:05 EDTTEVATeva, Active Biotech say patient enrollment finalized for CONCERTO trial
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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.
09:20 EDTVRXValeant and Progenics announces submission of NDA to FDA for RELISTOR
Valeant Pharmaceuticals International (VRX) and Progenics Pharmaceuticals (PGNX) announced that Valeant submitted a New Drug Application, or NDA, to the FDA for RELISTOR, or methylnaltrexone bromide, Tablets for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain.
08:49 EDTTEVAMylan CFO to meet with Tel Aviv bourse head Wednesday, Reuters says
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07:25 EDTVRXPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
June 21, 2015
19:53 EDTTEVAMylan CEO says Teva's 4.61% stake may be 'illegal,' Bloomberg reports
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