Actavis Generics: A 2-Year Ticket To Insolvency?
Graham Osborn • 53 Comments
Graham Osborn • 53 Comments
The Preferred Way To Play The Allergan-Pfizer Break Up
Andrew Walker, CFA • 56 Comments
Andrew Walker, CFA • 56 Comments
Yesterday, 4:28 PM
- In a statement, Allergan (NYSE:AGN) says it will "vigorously defend" the six patents covering eye drop RESTASIS (cyclosporine ophthalmic emulsion) 0.05% that are the subject of an Inter Partes review by the USPTO's Patent Trial and Appeal Board (PTAB). Generic competitor Mylan N.V. (NASDAQ:MYL) requested the action. The patents are valid until August 2024.
- A decision from the PTAB should happen by Q4 2017.
Yesterday, 7:30 AM
- Philip van Doorn and team at Marketwatch put together a list of 18 S&P 500 names with consensus sell-side price targets at least 30% above the current price.
- Ten of the 18 stocks are in healthcare, which has been roughed up by a combination of Obamacare, Clinton's talk about drug pricing (back when all thought she would be the next POTUS), and now Trump joining in the bashing.
- The list (in order of possible upside): Mallinckrodt PLC (NYSE:MNK) - 56% potential upside, Endo International PLC (NASDAQ:ENDP) - 52% upside, Hanesbrands (NYSE:HBI) - 45% upside, Edwards Lifesciences (NYSE:EW) - 44% upside, Mylan (NASDAQ:MYL) - 42% upside, Allergan (NYSE:AGN) - 39% upside, Alexion (NASDAQ:ALXN) - 37% upside, Activision Blizzard (NASDAQ:ATVI) - 35% upside, Salesforce.com (NYSE:CRM) 34% upside, NRG Energy (NYSE:NRG) - 34% upside, Centene (NYSE:CNC) 34% upside, Gilead (NASDAQ:GILD) 33% upside, Facebook (NASDAQ:FB) 32% upside, Boston Scientific (NYSE:BSX) - 32% upside, Pitney owes (NYSE:PBI) - 32% upside, Molson Coors (NYSE:TAP) - 30% upside, Newell Brands (NYSE:NWL) - 30% upside, Zimmer Bioment (NYSE:ZBH) - 30% upside.
Fri, Dec. 2, 9:16 AM
- Amgen (NASDAQ:AMGN) and collaboration partner Allergan (NYSE:AGN) announce the filing of a Marketing Authorization Application (MAA) with the European Medicines Agency (EMA) seeking approval of ABP 215, a biosimilar candidate to Roche's (OTCQX:RHHBY) cancer drug Avastin (bevacizumab).
- Under a 2011 collaboration agreement, the companies (then Watson Pharmaceuticals) agreed to develop and commercialize four oncology-focused biosimilars. Amgen has primary responsibility for developing, manufacturing and initially commercializing the products.
- Watson acquired Actavis in 2013 which acquired Allergan in 2015.
Fri, Dec. 2, 8:16 AM
- Allergan (NYSE:AGN) provides an additional information on its Accelerated Share Repurchase (ASR) Program.
- As previously announced, the Company entered into a variable tenor ASR arrangement on November 2 under which the Company will repurchase $10B of its ordinary shares. About 40.5M shares worth $8B were received and retired by Allergan in November. The remaining shares will be received and retired by Q3 2017.
- 50% of the ASR Program will be collared with the cap and floor based on the company's stock price over a reference period.
Fri, Dec. 2, 7:27 AM
- Allergan (NYSE:AGN) and Qualicaps Co. Ltd., have settled their patent infringement litigation with Zydus Pharmaceuticals and Cadilla Healthcare Limited related to U.S. Patent No. 6,649,180 covering ulcerative colitis med DELZICOL (mesalamine). The patent will expire on April 13, 2020.
- Under the terms of the settlement, Zydus and Cadilla may market their generic versions of DELZICOL in the U.S. beginning March 1, 2020 or earlier under certain circumstances.
Tue, Nov. 29, 12:58 PM
- Aegis Capital initiates coverage on Revance Therapeutics (RVNC -0.3%) with a Buy rating and $28 (60% upside) price target.
- The company's lead product candidate is RT002 (daxibotulinumtoxinA for injection) for the treatment of frown lines. In a mid-stage study, RT002 beat Allergan's (AGN +2.2%) BOTOX Cosmetic.
Tue, Nov. 29, 9:49 AM
- David Tepper is presenting at the Robin Hood conference today and he reportedly will tout Allergan (AGN +2.2%) as a long.
Tue, Nov. 22, 4:43 PM
- Chase Pharma is a clinical-stage biotech focused on treatments for neurodegenerative disorders including Alzheimer's disease. Allergan (NYSE:AGN) purchased the company for an upfront payment of $125M, and potential milestone payments based on sales for Chase's CPC-201, and certain backup compounds.
- Allergan intends to advance the treatment into a single Phase 3 registration study in 2017.
Tue, Nov. 22, 3:33 PM
- Looking at the top 50 hedge fund hotels, it's probably little surprise that Amazon (NASDAQ:AMZN) and Facebook (NASDAQ:FB) top the list, with Amazon making for a top 10 holding in 61 funds, and Facebook in 57.
- Rounding out the top 10 are Charter Communications (NASDAQ:CHTR), Alphabet (GOOG, GOOGL), Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Yahoo (NASDAQ:YHOO), Allergan (NYSE:AGN), Bank of America (NYSE:BAC), and Priceline (NASDAQ:PCLN).
- Looking at another gauge - the percent of market cap owned by hedge funds - shows CommScope (NASDAQ:COMM) leading the way, with hedge funds owning 37%. Next is Dell Technologies (NYSE:DVMT) and Expedia (NASDAQ:EXPE) at 30%, and after that: Liberty Broadband (NASDAQ:LBRDK) at 24%, LinkedIn (NYSE:LNKD) at 21%, Constellation Brands (NYSE:STZ) at 20%, and Humana (NYSE:HUM) and WhiteWave Foods (NYSE:WWAV) at 19%.
- Previously: Goldman's list of shorts mattering most to hedge funds (Nov. 22)
Tue, Nov. 22, 8:33 AM
- The FDA approves Allergan's (NYSE:AGN) XEN Glaucoma Treatment System that includes the XEN45 Gel Stent and XEN injector to reduce intraocular pressure (IOP) in treatment-resistant glaucoma patients. It reduces IOP by creating a new drainage channel with a permanent inside-the-eye implant that becomes flexible.
- Commercial launch will commence in Q1 2017.
Fri, Nov. 18, 11:53 AM
- Barron's reports that S3 Partners research chief Ihor Dusaniwsky says short sellers are regaining their mojo with Valeant Pharmaceuticals (VRX +0.2%) as various government investigations continue to dog the company.
- This month, short interest has climbed to $626M, up 18% from October's $532M. Short interest peaked at $2.5B during Valeant's pursuit of Allergan (AGN -2.1%) but dropped to $1.2B by the end of 2015.
- He adds that VRX remains at General Collateral levels (cheapest to borrow) and there are plenty of shares available for bears.
Thu, Nov. 17, 7:51 AM
- Allergan (NYSE:AGN) finalizes its licensing agreement with AstraZeneca's (NYSE:AZN) MedImmune unit for IL-23 monoclonal antibody MEDI2070. The product candidate is in mid-stage development for Crohn's disease and ulcerative colitis.
- Previously: AstraZeneca signs $1.5B antibody deal with Allergan (Oct. 3)
Tue, Nov. 15, 4:10 PM
- Amgen (NASDAQ:AMGN) and development partner Allergan plc (NYSE:AGN) announce the submission of a Biologics License Application (BLA) to the FDA seeking approval of a biosimilar to Roche's (OTCQX:RHHBY) cancer med Avastin (bevacizumab). The biosimilar, ABP 215, is the most advanced of the four oncology biosimilars that the companies are collaborating on under their December 2011 agreement.
- Under the terms of the partnership, Amgen has primary responsibility for developing, manufacturing and initially commercializing the products.
Tue, Nov. 15, 12:05 PM
- Gaining on triple or more their normal volume:
- Advance Auto (AAP +15.5%)
- BBVA (BBVA +1.1%)
- Eni (E +1.9%)
- Global Payments (GPN +2.9%)
- JD.com (JD +13.3%)
- Visa (V +1.3%)
Mon, Nov. 14, 7:20 AM
Fri, Nov. 11, 10:58 AM
- Privately held Sofregen Medical acquires Allergan's (AGN -3.3%) SERI Surgical Scaffold product line for an undisclosed sum. Polaris Partners financed the deal.
- SERI is a silk-based scaffold that provides soft tissue support in plastic and reconstructive surgical procedures. It has been used on over 10K procedures requiring surgical mesh.