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Stock Market & Financial Investment News

News Breaks
April 7, 2014
14:09 EDTTEVA, RDY, VRX, 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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July 23, 2015
09:04 EDTTEVATeva says 'strongly disagrees' with Stichting stated analysis
Teva Pharmaceutical Industries (TEVA) issued the following statement regarding Stichting Preferred Shares Mylan’s (MYL) decision to exercise its call option: "We strongly disagree with the stated analysis of Stichting Preferred Shares Mylan and its decision to exercise its call option, which is unwarranted, relies on false assumptions, and risks depriving Mylan stockholders and other stakeholders of the value inherent in a combination of Teva and Mylan. We continue to believe that our proposed transaction offers a compelling opportunity for value-creation and many other benefits for the stockholders, customers, patients, and employees of both companies. We are well advised on Dutch law, including the ability of Mylan stockholders to challenge this action in court, and are prepared to take the necessary actions at the appropriate time."
08:48 EDTTEVA, PRGOMylan, Teva lower after Stitching looks to thwart hostile deal
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08:34 EDTTEVAMylan foundation exercises call option to 'level playing field'
08:33 EDTPRGO, TEVAMylan foundation says shareholders at risk of Teva takeover
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06:29 EDTVRXValeant raises FY15 cash EPS view to $11.5-$11.80 from $10.90-$11.20
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06:26 EDTVRXValeant sees Q4 cash EPS $3.98-$4.18, consensus $3.49
Sees Q4 revenue $3.2B-$3.4B, consensus $3.03B.
06:25 EDTVRXValeant sees Q3 cash EPS $2.60-$2.70, consensus $2.86
Sees Q3 revenue $2.6B-$2.8B, consensus $2.74B.
06:24 EDTVRXValeant reports Q2 cash EPS $2.56, consensus $2.46
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06:06 EDTVRXValeant raises FY15 cash EPS to $11.50-$11.80 from $10.90-$11.20
The increased EPS guidance reflects continued business outperformance and approval of IBS-D indication for Xifaxan. Raises FY15 total revenue to $10.7B-$10.4B from $10.4B-$10.6B. Sees FY15 Salix revenue $1.2B. Raises FY15 adjusted cash flow from operations to be greater than $3.2B from greater than $3.1B. Sees FY15 SSS organic growth of greater than 10% for 2H15.
06:05 EDTVRXValeant sees Q4 cash EPS $3.98-$4.18, revenue $3.2B-$3.4B
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06:05 EDTVRXValeant sees Q3 cash EPS $2.60-$2.70, revenue $2.6B-$2.8B
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06:04 EDTVRXValeant reports Q2 GAAP EPS (15c), Q2 cash EPS $2.56
Excluding negative impact of ForEx and Salix, cash EPS would have been $2.73. Reports Q2 total revenue $2.73B vs. $2.04B last year. Reports Q2 Product sales $2.70B vs. $1.99B last year. Reports Q2 SSS organic growth up 19%. Reports Q2 Salix revenue $313M.
July 22, 2015
10:06 EDTPRGO, TEVAAbbott CEO says supportive of Mylan pursuit of Perrigo
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09:30 EDTTEVAAbbott CEO says 'pretty alligned' with Mylan so far
07:14 EDTPRGOPerrigo agrees to acquire Yokebe
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July 21, 2015
10:01 EDTVRXOn The Fly: Analyst Initiation Summary
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July 20, 2015
16:15 EDTVRXValeant initiated with a Buy at BTIG
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10:26 EDTTEVALeerink's specialty pharma/generics analyst has analyst/industry conference call
Specialty Pharmaceuticals / Generics Analyst Gerberry, along with MEDACorp Specialists Michael Belliveau, PhD and Shashank Upadhye, JD, discuss the strengths and weaknesses of TEVA's preliminary responses to the IPR challenge on Copaxone 40mg, the likely outcomes for the Copaxone 40mg patent challenge and perspectives on recent updates in the JAZZ Xyrem patent case on an Analyst/Industry conference call to be held on July 22 at 2 pm.
08:38 EDTVRXAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
07:33 EDTVRXValeant price target raised to $285 from $275 at Canaccord
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