Apr. 21, 2014, 5:24 PM
Apr. 21, 2014, 4:44 PM
- Hedge fund honcho Bill Ackman and Valeant Pharmaceuticals (VRX +3.3%) are teaming up in an attempt to buy Botox maker Allergan (AGN +18.9%).
- Ackman's Pershing Square Capital Management has a 10% stake worth ~$4B. The deal, if successful, will probably have to come in above today's $142 close. Shares are up 12% after hours to almost $160.
Apr. 17, 2014, 4:44 PM
- Actavis (ACT) buys four currently-marketed products from Akorn (AKRX) and one more under development for cash. The transaction is contingent on the consummation of Akorn's acquisition of Hi-Tech Pharmacal (HITK).
- The products on the market are: Ciprofloxacin Hydrochloride Ophthalmic Solution, Levofloxacin Ophthalmic Solution, Lidocaine Hydrochloride Jelly and Lidocaine/Prilocaine Topical Cream.
- The FTC stipulated that Akorn divest the products as a condition of its approval of the Hi-Tech transaction.
- Financial terms are not disclosed.
Apr. 14, 2014, 8:43 AM
- Depomed (DEPO) settles with two of three defendants in the Gralise (gabapentin) patent infringement litigation. Incepta Pharmaceuticals and Zydus Pharmaceuticals may market generic versions of the 300 mg and 600 mg tablets on January 1, 2024 or earlier contingent on certain circumstances.
- Litigation continues with the third defendant Actavis (ACT).
Apr. 14, 2014, 7:44 AM
- Johnson and Johnson (JNJ) discontinues its development of PurTox, a neurotoxin intended to compete with Allergan's (AGN) $2B anti-wrinkle blockbuster.
- The company acquired the rights to the drug in 2009 with its buy of Mentor Corp.
- The move will result in the loss of a small number of U.S.-based jobs.
Apr. 1, 2014, 9:50 AM
- Actavis (ACT) pays $100M cash for generic drug maker Silom Medical Company, a private firm focused on the Thai market.
- Silom has a leading position in ophthalmology and respiratory therapy as well as a strong presence in cardiovascular disease. It offers more than 25 products to more than 4,400 hospitals, clinics and drugstores in Thailand.
Mar. 31, 2014, 7:49 AM
- Forest Labs (FRX) and Gedeon Richter (GEDSF) have announced positive top-line results in a Phase II trial of the companies' Cariprazine therapy for the treatment of bipolar depression.
- The results come after Cariprazine also performed well in a Phase IIb trial for patients with Major Depressive Disorder. (PR)
- Forest is being acquired by Actavis (ACT).
Mar. 28, 2014, 4:25 PM
- Actavis (ACT) confirms the reversal of the U.S. District Court of the Southern District of Florida ruling that the firm's generic mesalamine infringes on a Lialda patent.
- The U.S. Court of Appeals found that the District Court failed to correctly interpret the claims of the '720 patent. It remands the case back to the District Court for further proceedings based on the Appeals Court's rulings.
- Shire plc (SHPG) finished today's trading down 1% at $149.67.
Mar. 28, 2014, 11:31 AM
Mar. 26, 2014, 8:33 AM
- Large cap pharma and biotech firms have regenerative therapy R&D programs underway according to a recent survey.
- 69% of respondents are focused on developing cellular-based therapies.
- Wound healing and burns have the greatest near-term potential.
- Long term areas of interest are cardiovascular disease, oncology, neurodegenerative disease, monogenic disorders and ocular disease.
- (AGN) (AMGN) (BAX) (BIIB) (CELG) (LLY) (GSK) (JNJ) (NVS) (NVO) (PFE) (RHHBY) (SNY) (MRK) (SHPG)
Mar. 26, 2014, 7:32 AM
- Amidst the flurry of regulatory warnings to Indian generic drug manufacturers, other firms will quickly step in to satisfy demand. Those who can demonstrate a strong emphasis on quality will have an edge.
- India's Ranbaxy Labs, the largest manufacturer by sales, had its products banned by the FDA in January because of repeated quality problems.
- (ACT) (TEVA) (MYL) (CVS) (WAG)
Mar. 26, 2014, 7:10 AM
- Actavis (ACT) and Valeant Pharmaceuticals (VRX) report that the FDA approved Metronidazole 1.3% Vaginal Gel for the treatment of bacterial vaginosis. Actavis acquired the rights to the product last April.
- Valeant will receive as much as $57M in upfront payments plus certain guaranteed royalties during the first three years of commercialization. Actavis will pay additional royalties after the three-year term.
Mar. 19, 2014, 4:32 PM
- Actavis (ACT) and Noven Pharmaceuticals agree to settle all outstanding patent litigation related to the former's generic version of Daytrana (Methylphenidate Transdermal System), a CNS stimulant used to treat ADHD.
- Noven grants Actavis a non-exclusive royalty-bearing license to market its generic Daytrana beginning September 1, 2015 contingent on ACT receiving FDA approval for the drug.
- 2013 Daytrana sales in the U.S. were $98M.
Mar. 13, 2014, 7:27 AM| Mar. 13, 2014, 7:27 AM | 6 Comments
Mar. 7, 2014, 9:30 AM
- Columbia Laboratories (CBRX) purchases 1.4M shares of its common stock from Actavis (ACT) at $6.08/share, a 10.75% discount to yesterday's closing price.
- The CEO calls it a "unique opportunity to acquire Actavis' large block of shares at an advantageous price." No word on shareholder reaction to this once-in-a-lifetime use of 41% of the company's $20.7M of cash and equivalents.
- Consensus 2014 estimates are earnings of $0.33/share on revenues of $32M.
- EPS for 2013 was $0.73 on revenues of $29.2M.
Mar. 3, 2014, 10:18 AM
- Revance (RVNC) continues its volatile ways following its IPO on February 6, when it debuted at $16. The stock is up 2.5% today at $27.61 but that's down sharply from earlier highs and follows a steep fall at the end of last week.
- Revance's lead product is a topical Botulinum Toxin Type A Gel for the treatment of lateral canthal lines (crow's feet). It will complete with Allergan's (AGN) blockbuster injectable treatment Botox.
- Botulinum is in Phase 3 trials in the U.S.
- Anaylsts' price targets range from $37-55.
AGN vs. ETF Alternatives
Other News & PR