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Stock Market & Financial Investment News

News Breaks
April 7, 2014
14:09 EDTTEVA, VRX, RDY, PRGOSun Pharmaceutical agrees to acquire generic drugmaker Ranbaxy
Indian drugmaker Sun Pharmaceutical will buy another Indian pharmaceutical company, Ranbaxy, for $3.2B, the companies said earlier today. Ranbaxy specializes in developing generic drugs. WHAT'S NEW: Sun will buy Ranbaxy in an all-stock transaction via which Ranbaxy shareholders will receive 0.8 shares of Sun Pharma for each share of Ranbaxy. The transaction price represents a premium of 18% to Ranbaxy’s 30-day volume-weighted average share price, the companies stated The combination of Sun Pharma and Ranbaxy creates the fifth-largest specialty generics company in the world and the largest pharmaceutical company in India, the companies noted. WHAT'S NOTABLE: It came to light late last week that another generic drug maker, Mylan (MYL), attempted to buy a Swedish rival, Meda. Meda's board of directors confirmed on Friday that it was contacted by Mylan regarding a proposal to merge the companies, but the board decided to reject the proposal. Meda said all discussions between the company and Mylan have been terminated "without further actions." OTHERS TO WATCH: Other generic drug makers include Teva (TEVA), Valeant (VRX), Dr. Reddy’s (RDY), and Perrigo (PRGO). PRICE ACTION: In mid-afternoon trading, Mylan fell 3% and Valeant slid over 4%, while Teva, Dr. Reddy's and Perrigo all retreated about 2%.
News For TEVA;VRX;RDY;PRGO From The Last 14 Days
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October 20, 2014
08:58 EDTVRXValeant says still willing to improve bid for Allergan
Valeant (VRX) said would raise Allergan (AGN) bid "when time is right." Says hopes Allergan shareholders see that Valeant's operating model does work and will continue to work. Says Valeant (VRX), Allergan have "unique" business overlap. Says company "should" own Allergan. Says interests with Pershing, Ackman "aligned" on Allergan.
08:37 EDTVRXValeant says 'completely focused' on Allergan acquisition
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07:34 EDTVRXValeant says remains focused on completing Allergan transaction
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07:32 EDTVRXValeant narrows FY14 revenue view to $8.1B-$8.3B from $8B-$8.3B
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07:30 EDTVRXValeant CEO says 'can bid more than anyone' in financially sound Allergan deal
Pearson says "we cannot stop" another company from making a bid that does not make economic sense, but he believes Valeant (VRX) can "bid more than anyone" for Allergan (AGN) in a deal that makes financial sense. Pearson says he has met with doctor groups and that 95% of those he's spoken with support Valeant's bid for Allergan. Valeant CEO J. Michael Pearson spoke on CNBC.
07:28 EDTVRXValeant raises FY14 cash EPS to $8.22-8.32 from $7.90-$8.10
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07:06 EDTVRXValeant raises FY15 outlook cash EPS $10.00 from $9.90
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07:05 EDTVRXValeant raises Q4 cash EPS $2.45-$2.55 from $2.35-$2.45
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07:03 EDTVRXValeant reports Q3 cash EPS $2.11, Q3 GAAP EPS 81c
Reports Q3 revenue revenue $2.1B; Reports Q3 total same store sales organic growth 19%. Bausch + Lomb organic growth was 12%. Q3 GAAP Operating Cash Flow $619 million, an increase of 207%; Adjusted Operating Cash Flow $771 million, an increase of 89%
06:28 EDTTEVAAllergan price target raised to $210 from $190 at Citigroup
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October 17, 2014
09:47 EDTVRXValeant will not raise Allergan bid ahead of record date, CNBC reports
Valeant (VRX) will not raise its hostile takeover bid for Allergan (AGN) ahead of the record date for the vote, CNBC's David Faber reports. Allergan (AGN) is not currently in takeover talks with Actavis (ACT), Faber added.
09:43 EDTVRXValeant not going to raise Allergan bid ahead of meeting, CNBC reports
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October 16, 2014
12:42 EDTVRXAckman believes Allergan, Valeant merger likely, CNBC reports
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12:38 EDTVRXAckman says Allergan CEO manipulated Valeant shares, CNBC reports
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October 15, 2014
13:07 EDTVRXAllergan seeing arb-related selling pressure, says BMO Capital
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October 14, 2014
11:23 EDTTEVABIND Therapeutics and The Conference Forum hold a conference
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11:19 EDTTEVATeva upgraded to Buy from Hold at Standpoint Research
10:28 EDTPRGOPerrigo Animal Health receives SQF certification
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October 10, 2014
07:37 EDTVRXActavis more likely partner than Valeant if Allergan merges, says UBS
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07:16 EDTVRXAmerican Society of Plastic Surgeons to hold annual meeting
Annual Meeting of ASPS is being held in Chicago on October 10-14.
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