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Stock Market & Financial Investment News

News Breaks
December 11, 2013
11:24 EDTWCRX, ACTFTC order settles charges that Warner Chilcott acquisition is anticompetitive
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Actavis, Inc’s (ACT) proposed acquisition of Warner Chilcott plc (WCRX) would reduce competition in the U.S. markets for four current and future pharmaceuticals. They are: Generic Femcon FE, a chewable oral contraceptive tablet that contains progestin and estrogen; Loestrin 24 FE and its generic equivalents, which are low-dose progestin/estrogen combination oral contraceptives; Lo Loestrin FE and its generic equivalents, which are also progestin/estrogen combination oral contraceptives; and Atelvia and its generic equivalents, which are delayed-release tablets used to treat post-menopausal osteoporosis. Under the FTC’s order, first announced in September, Actavis will sell all rights and assets to the three oral contraceptives and the osteoporosis treatment to New Jersey-based Amneal Pharmaceuticals L.L.C. Actavis also will relinquish its claim to first-filer marketing exclusivity for generic Lo Loestrin FE and Atelvia to preserve the incentives of the companies currently leading the patent litigations against Warner Chilcott related to those products. In the markets for Lo Loestrin FE and Atelvia, Warner Chilcott sells the branded drugs, but no company currently sells a generic version. By relinquishing its first-filer status, the merged firm cannot act to delay the introduction of a generic version of these two products. Reference Link
News For WCRX;ACT From The Last 14 Days
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April 15, 2014
10:21 EDTACTMylan announces settlement agreement for first-to-file Generess
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08:07 EDTACTActavis announces agreement related to Generess FE patent challenge litigation
Actavis (ACT) announced that it has entered into an agreement with Mylan (MYL) and Famy Care to settle all outstanding patent litigation related to Mylan's generic version of Generess. Under the terms of the agreement, Actavis will grant Mylan a license to market its generic version of Generess® FE under its pending Abbreviated New Drug Application beginning on April 1, 2015. Alternatively, Mylan will be permitted to launch an authorized generic version of Actavis' product beginning on October 1, 2015. Other terms of the settlement were not disclosed. Actavis remains in litigation with Lupin Ltd in connection with Lupin's pending ANDA for a generic version of Generess.
April 11, 2014
10:30 EDTACTActavis and Mylan shares recommended at Bernstein
April 9, 2014
10:06 EDTACTOn The Fly: Analyst Upgrade Summary
AmSurg (AMSG) upgraded to Buy from Hold at Cantor... CBOE Holdings (CBOE) upgraded to Buy from Neutral at BofA/Merrill... Carlyle Group (CG) upgraded to Outperform from Perform at Oppenheimer... FireEye (FEYE) upgraded to Buy from Hold at Topeka... Fortune Brands (FBHS) upgraded to Outperform from Neutral at Credit Suisse... Gray Television (GTN) upgraded to Outperform from Market Perform at Wells Fargo... Hibbett Sports (HIBB) upgraded to Overweight from Neutral at Piper Jaffray... LinkedIn (LNKD) upgraded to Buy from Hold at Topeka... Mallinckrodt (MNK) upgraded to Buy from Neutral at UBS... NXP Semiconductors (NXPI) upgraded to Strong Buy from Outperform at Raymond James... Nexstar (NXST) upgraded to Outperform from Market Perform at Wells Fargo... Penn National (PENN) upgraded to Overweight from Equalweight at Barclays... Philip Morris (PM) upgraded to Neutral from Reduce at Nomura... SAIC (SAIC) upgraded to Market Perform from Underperform at Wells Fargo... Sinclair Broadcast (SBGI) upgraded to Outperform from Market Perform at Wells Fargo... Yelp (YELP) upgraded to Buy from Fair Value at CRT Capital... Danaher (DHR) upgraded to Strong Buy from Buy at ISI Group... Quanex (NX) upgraded at BB&T... Omnicell (OMCL) upgraded at Craig-Hallum... Volkswagen (VLKAY) upgraded to Outperform from Market Perform at Bernstein... Magna (MGA) upgraded to Neutral from Sell at Citigroup... Actavis (ACT) upgraded to Positive from Neutral at Susquehanna... E-Trade (ETFC) upgraded to Neutral from Underperform at BofA/Merrill... AmerisourceBergen (ABC) upgraded to Outperform from Market Perform at FBR Capital... CONSOL (CNX) upgraded to Outperform from Neutral at Macquarie.
08:16 EDTACTActavis upgraded to Positive from Neutral at Susquehanna
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April 8, 2014
09:17 EDTACTActavis recommended on pullback at UBS
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07:08 EDTACTDrug deals increase to new high, Bloomberg says
M&A activity in the specialty pharmaceuticals industry has reached a new high after Mallinckrodt (MNK) recently bought Questcor (QCOR) for $5.6B, reported Bloomberg. Drugmakers from Actavis (ACT) to Valeant (VRX) are widening their suites of drugs through takeovers that immediately increased earnings with the help of lower corporate tax rates in countries such as Ireland. Reference Link

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