News Breaks |
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| February 25, 2013 |
| 08:56 EDT |  | WCRX | Warner Chilcott says U.S. elects not to intervene in qui tam action at this time
Warner Chilcott disclosed in a regulatory filing that on February 22 the company became aware that a qui tam action filed against the company was unsealed by order of the United States District Court for the District of Massachusetts. The qui tam action which was filed under seal on June 27, 2011, was brought by a former company sales representative on behalf of the United States, 26 states, and the District of Columbia under the Federal False Claims Act and state law equivalents to the Federal False Claims Act and alleges that the company violated Federal and state false claims acts through the promotion of its products Actonel and Atelvia. On February 19, the U.S. filed notice of its election not to intervene in the qui tam action at this time, the company said. In this notice, which was also unsealed pursuant to the court’s order entered on February 22, the U.S. indicated that its investigation of the allegations raised in the complaint is continuing and, as such, it was not able to decide, as of the court’s seal expiration deadline, whether to intervene in the action. The company has previously disclosed that beginning in February, the company, along with several current and former non-executive employees in its sales organization and certain third parties, received subpoenas from the U.S. Attorney for the District of Massachusetts concerning, among other things, sales and marketing activities relating to all of the company’s current key products. While the company has not yet been served with the qui tam complaint, it is reviewing the allegations in the complaint and intends to vigorously defend itself in the litigation when and if served, Warner Chilcott said. |
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News For WCRX From The Last 14 Days Check below for free stories on WCRX the last two weeks. |
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| May 20, 2013 |
| 16:22 EDT |  | WCRX | On The Fly: Closing Wrap
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| 14:27 EDT |  | WCRX | Actavis price target raised to $140 from $101 at Morgan Stanley
Morgan Stanley raised Actavis's price target to $140 due to Warner Chilcott (WCRX) deal accretion. Shares are Overweight rated. |
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| 14:05 EDT |  | WCRX | Warner Chilcott downgraded to Hold from Buy at Needham
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| 13:06 EDT | | WCRX | On The Fly: Midday Wrap
Stocks on Wall Street were modestly higher at midday as the Dow and S&P seek to continue their march higher after closing last week at record levels. ECONOMIC EVENTS: In the U.S., the light domestic economic calendar included the Chicago Fed National Activity index, which slipped to -0.53 for April from its prior reading of -0.23. In Asia, the Hang Seng and Shanghai Composite both climbed after Chinese home prices were reported to have risen in April. COMPANY NEWS: Yahoo (YHOO) confirmed it is buying social media platform Tumblr for $1.1B, as widely reported over the weekend, and promised "not to screw it up" in its press release to announce the deal... Actavis (ACT) agreed to acquire Warner Chilcott (WCRX) in a stock-for-stock transaction valued at approximately $8.5B. The deal, which was approved by the boards of both companies, equates to a value of $20.08 per Warner Chilcott share based on Actavis' closing share price on Friday, the companies said. MAJOR MOVERS: Among the notable gainers were some other companies with M&A news: Acquity Group (AQ) shares more than doubled after Accenture (ACN) agreed to buy the company for $13.00 per American Depositary Share, and Pactera Technology (PACT) gained 31% after receiving a non-binding proposal from a Blackstone (BX) affiliate to be taken private for $7.50 per ADS. Among the noteworthy losers was XenoPort (XNPT), which fell 11% after one of its drugs failed in a Phase III trial for multiple sclerosis spasticity. Also lower were shares of Red Hat (RHT), which slid 4% following a downgrade to Market Perform at BMO Capital. INDICES: Near 1 pm ET, the Dow was up 13.67, or 0.09%, to 15,368.07; the Nasdaq was up 1.13, or 0.03%, to 3,500.10; and the S&P 500 was up 2.18, or 0.13%, to 1,669.65. |
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| 11:56 EDT |  | WCRX | Options with decreasing implied volatility: SGMO WCRX TSLA CSC SUPN
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| 11:16 EDT | | WCRX | Actavis, Warner Chilcott company worth $128 per share, says Leerink
Leerink estimates the value of the combined Actavis (ACT) and Warner Chilcott (WCRX) company at $128 per share. The firm sees some upside for shareholders of the new company should Warner Chilcott's brands prove durable in 2014. Leerink has a Market Perform on shares of Actavis. |
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| 10:43 EDT | | WCRX | Actavis price target rasied to $145 from $124 at BMO Capital
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| 09:57 EDT |  | WCRX | Actavis hosted a conference call
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| 09:26 EDT | | WCRX | On The Fly: Pre-market Movers
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| 09:07 EDT | | WCRX | Warner Chilcott announces Irish takeover rules revision
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| 07:21 EDT | | WCRX | Warner Chilcott volatility elevated into Actavis acquiring for $8.5B
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| 07:11 EDT | | WCRX | Actavis to acquire Warner Chilcott for $8.5B in stock
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| 07:08 EDT | | WCRX | Actavis to acquire Warner Chilcott in $8.5B stock-for-stock transaction
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| May 17, 2013 |
| 14:48 EDT |  | WCRX | Actavis may bid for Warner Chilcott to ward off takeover, Reuters says
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| 13:56 EDT | | WCRX | Actavis may purchase Warner Chilcott as takeover defense, Reuters reports
Over past few weeks, Actavis (ACT) has "spurned approaches" from Valeant (VRX) and Mylan (MYL), and has instead pursued a bid for Warner Chilcott (WCRX), according to Reuters, citing people familiar with the situation. |
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| 13:19 EDT |  | WCRX | Rumor: Warner Chilcott goes positive following chatter it canceled a conference
Shares of Warner Chilcot (WCRX) have turned positive following conjecture it canceled out of a sell-side conference. Note that Warner Chilcott is engaged in preliminary discussions with Actavis (ACT) regarding a potential business combination transaction. |
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| 10:36 EDT | | WCRX | Leerink's major/specialty pharma analyst holds analyst/Industry conference call
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| May 16, 2013 |
| 12:07 EDT | | WCRX | Options with increasing implied volatility: INFI WCRX SODA LYV HYG
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| 07:46 EDT | | WCRX | Jefferies sees high probability of Actavis, Warner Chilcott merger
Jefferies believes a takeover of Warner Chilcott (WCRX) by Actavis (ACT) would make strategic and financial sense and would be significantly accretive to Actavis. The firm sees a high probability of a deal getting done and raised its price target for Actavis to $120 from $81 while keeping a Hold rating on the name. Jefferies estimates a deal at $24 per Warner Chilcott share would be accretive to Actavis' 2014 earnings by $5.31. |
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| 05:54 EDT | | WCRX | Stocks with implied volatility movement; WCRX AGNC
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