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Allergan Inc. (AGN)

  • Mon, Apr. 27, 7:44 AM
    • In his "We Are Full of Bull" note this morning, Morgan Stanley's Adam Parker says the economy will accelerate in Q2 and Q3, bringing stocks along for the ride. If investors are gun-shy thanks to record levels for the averages, Parker suggests looking for names with decent long-term earnings forecasts trading at a discount to the market.
    • The ten largest U.S. stocks trading at a discount, but with above-average expected growth rates: Apple (NASDAQ:AAPL), Citigroup (NYSE:C), Gilead (NASDAQ:GILD), Union Pacific (NYSE:UNP), Actavis (NYSE:ACT), Twenty-First Century Fox (NASDAQ:FOXA), Time Warner (NYSE:TWX), Ford (NYSE:F), BlackRock (NYSE:BLK).
    • Conversely, one might want to avoid those stocks selling for substantial premiums. The ten largest stocks trading at a premium to the market while growing at a below-average rate: Exxon (NYSE:XOM), Procter & Gamble (NYSE:PG), Chevron (NYSE:CVX), Coca-Cola (NYSE:KO), Pepsico (NYSE:PEP), Schlumberger (NYSE:SLB), MMM, McDonald's (NYSE:MCD), UPS, Nike (NYSE:NKE).
    • Source: Bloomberg
    | Mon, Apr. 27, 7:44 AM | 53 Comments
  • Fri, Apr. 24, 3:52 PM
    • Burlington, MA-based CoLucid Pharmaceuticals (Pending:CLCD) is set for its IPO of 5.36M shares of common stock at $13 - 15.
    • The clinical stage biopharmaceutical firm is developing a small molecule for the acute treatment of migraine headaches. Lasmiditan, currently in Phase 3 development in an oral tablet form, is a 5-HT1F receptor agonist that blocks the pain transmission without the side effects of the class of migraine therapies called triptans. The 5-HT1F receptor is a serotonin subtype that lacks the vasoconstrictive properties of other serotonin receptors, which can cause adverse cardiac events in patients with cardiovascular or cerebrovascular disease. Top-line data from a Phase 3 study, called SAMURAI, is expected in Q3 2016. A second Phase 3 evaluating an IV formulation of lasmiditan should commence in H1 2016.
    • The company licensed lasmiditan from Eli Lilly.
    • 2014 financials ($M): Operating expenses: 2.3 (+43.8%); Net Loss: (3.0) (-34.6%); CF Ops: (0.8) (+49.3%).
    • Migraine-related tickers: (OFIX +0.4%)(TEVA +1.8%)(AVNR)(RDHL +0.5%)(PTX -3%)(ALDR -0.8%)(ENDP -0.8%)(JNJ +0.6%)(AMGN -0.7%)(DEPO +1.2%)(AGN)
    | Fri, Apr. 24, 3:52 PM | Comment!
  • Mon, Apr. 13, 8:46 AM
    • Depomed (NASDAQ:DEPO) and Actavis (NYSE:ACT) settle their patent infringement suit regarding the latter's Abbreviated New Drug Application (ANDA) for a generic version of Gralise (gabapentin). The settlement allows Actavis to begin selling a generic version on January 1, 2024 or earlier under certain circumstances.
    • A year ago, Depomed announced settlements with two other Gralise ANDA filers that permitted them to market generic versions beginning in 2024.. The suit again Actavis was unresolved because it appealed a district decision in favor of Depomed. The appeal was dismissed after the settlement.
    • Previously: Depomed prevails over Actavis in Gralise patent infringement case (Aug. 19, 2014)
    | Mon, Apr. 13, 8:46 AM | Comment!
  • Tue, Apr. 7, 3:58 PM
    • Shire plc (SHPG +4.4%) is confident that it will prevail in a patent challenge from hedge fund Hayman Capital Management regarding its ulcerative colitis drug Lialda (mesalamine). The company won a previous challenge to its patent, which expires in 2020, in 2013 by Actavis (ACT -0.8%) unit Watson. No competitor has been able to get a generic mesalamine on the U.S. market, a fact that strengthens Shire's position.
    • Generic firms aren't giving up, though. A trial versus Mylan is set to begin September 1.
    • Lialda/Mezavant (brand name in Europe) generated almost $634M in sales for Shire in 2014.
    | Tue, Apr. 7, 3:58 PM | 1 Comment
  • Wed, Apr. 1, 3:30 PM
    • Actavis (ACT -1%) should outperform following its purchase of Allergan, and FDA action dates for eluxadoline and cariprazine could also be catalysts.
    • Though Occidental Petroleum is the team's top pick in energy, Anadarko (APC +1.1%) is the best short-term play on a recovery in oil prices.
    • Strong fundamentals and easy year-over-year comps make AvalonBay (AVB -0.9%) a pick in apartment rentals.
    • A favorable Supreme Court ruling in King vs. Burwell by the end of June provides plenty of upside possibility with little downside for HCA Holdings (HCA -0.8%).
    • Also on the buy list are Ingersoll-Rand (IR -1.5%), Nvidia (NVDA +0.2%), UTX (UTX -1.1%), and Disney (DIS +0.4%).
    • Making the underperform list is the Gap (GPS -2.2%) thanks to less room for cost cutting and a forecast for continued weakness in sales. Also a Q2 sell: Tesla (TSLA -1%) " lacks any real technological advantage over its competitors" says the team, seeing a significant Q1 loss, an increase in the already-high cash burn, and a questionable delivery outlook.
    • Source: Benzinga
    | Wed, Apr. 1, 3:30 PM | 50 Comments
  • Tue, Mar. 31, 1:23 PM
    • Allergan's former Chairman & CEO David Pyott converted equity awards totaling $534M after the company was acquired by Actavis (ACT -0.9%). He traded 3M stock options for $497M in cash and swapped more than 285K shares and restricted shares for $36.9M.
    • No word, though, on Mr. Pyott's post-Allergan plans other than he won't be joining Actavis' board.
    | Tue, Mar. 31, 1:23 PM | Comment!
  • Tue, Mar. 31, 9:08 AM
    • Actavis (NYSE:ACT) sells its generic drug business in Australia to privately-held Amneal Pharmaceuticals for an undisclosed sum. Actavis will continue to supply the market until the deal is complete.
    | Tue, Mar. 31, 9:08 AM | Comment!
  • Tue, Mar. 17, 10:10 AM
    • Actavis (ACT) completes its acquisition of Botox-maker Allergan (AGN) in a cash-and-stock transaction valued at $70.5B. The combined organization should generate more than $23B in revenues this year, ranking it in the global top 10 pharma companies.
    | Tue, Mar. 17, 10:10 AM | Comment!
  • Wed, Mar. 11, 10:01 AM
    • Based on feedback from the FDA, Egalet (EGLT) now plans to submit a New Drug Application (NDA) for its abuse-deterrent, extended-release oral morphine product, Egalet-001, by the end of the year.
    • The company will initiate a pivotal bioequivalence study comparing the 60 mg dose to Purdue's MS Contin later this month. Bioequivalence to MS Contin has already been demonstrated at the 15 mg and 30 mg doses.
    • Egalet-001 incorporates the company's Guardian Technology to deter abuse. It utilizes injection molding to create a hard matrix and shell that is designed to be difficult to crush, grind, chew or dissolve. It also turns to gel when exposed to water.
    • Related tickers: (ZGNX -23.4%)(ACUR)(ALKS +0.5%)(PFE +0.6%)(ABBV +0.7%)(LCI +1.6%)(ACT +1.7%)(MNK +1.6%)(TEVA +2.6%)
    | Wed, Mar. 11, 10:01 AM | 3 Comments
  • Tue, Mar. 10, 3:29 PM
    • As expected, a majority of Allergan's (AGN -0.8%) shareholders voted in favor of being acquired by Actavis (ACT -1.9%) at this morning's special meeting. The current value of the cash-and-stock transaction is $70.7B.
    | Tue, Mar. 10, 3:29 PM | Comment!
  • Tue, Mar. 10, 10:24 AM
    • Akorn (AKRX -14.4%) slumps on double normal volume in response to Actavis' (ACT -1.2%) after hours announcement of its U.S. launch of a generic version of Fougera's Temovate (clobetasol cream 0.05%) for the relief of inflammatory and pruritic dermatoses. Akorn's generic version was one of its top sellers last quarter.
    • To assuage investors, Akorn reaffirms its 2015 revenue guidance of $960M - 980M and Non-GAAP EPS of $1.88 - 1.98.
    | Tue, Mar. 10, 10:24 AM | Comment!
  • Tue, Mar. 10, 8:01 AM
    • Privately-held Collegium Pharmaceutical raises $50M from institutional investors to fund the advancement of its abuse-deterrent product candidate, Xtampa ER (oxycodone extended-release capsules) through FDA clearance and commercial launch as well as fund operational growth and other pipeline programs.
    • The FDA accepted the company's New Drug Application (NDA) for Xtampa ER in February. Its abuse-deterrent technology is called DETERx, which combines oxycodone with fatty acid and waxes to form small spherical beads which resist particle size reduction and dose dumping when subjected to breaking, crushing, chewing and dissolving.
    • Previously: FDA accepts Collegium's NDA for abuse-deterrent opioid (Feb. 17)
    | Tue, Mar. 10, 8:01 AM | Comment!
  • Tue, Mar. 10, 7:29 AM
    • Vivus (NASDAQ:VVUS) receives notice from Teva Pharmaceutical Industries (NYSE:TEVA) that it has filed an Abbreviated New Drug Application (ANDA) with the FDA for a generic version of Qsymia (phentermine and topiramate extended release). The company is currently reviewed the notice but a patent infringement lawsuit will surely be initiated considering its suit against Actavis (NYSE:ACT) for its ANDA submission. Once filed, there is an automatic 30-month stay of regulatory clearance to allow for the legal process to play out.
    • Previously: Vivus sues Actavis over generic version of Qsymia (March 9)
    | Tue, Mar. 10, 7:29 AM | 8 Comments
  • Mon, Mar. 9, 10:58 AM
    • Vivus (VVUS -3.8%) files suit in the U.S. District Court for the District of New Jersey against Actavis (ACT -0.3%) in response to a second Paragraph IV certification notice from Actavis challenging the validity of two additional patents covering Qsymia (phentermine and topiramate extended release). The lawsuit is a customary response from a branded drug maker to the filing of an Abbreviated New Drug Application (ANDA) from a potential generic competitor. Once filed, there is an automatic 30-month stay of the FDA clearance of the generic version.
    • Vivus filed an earlier suit against Actavis relative to its infringement of additional Qsymia patents.
    | Mon, Mar. 9, 10:58 AM | Comment!
  • Wed, Mar. 4, 2:25 AM
    • Actavis (NYSE:ACT) sold the second-biggest corporate-bond offering in history yesterday, with a $21B deal fueled by investors' desire for income-generating investments when yields on government debt remain low.
    • The giant sale comes as companies this year sell debt at the fastest pace on record, extending a multi-year boom that has financed a flurry of deal making and stock buybacks.
    • Actavis plans to use the money for its $66B acquisition of Botox maker Allergan (NYSE:AGN).
    | Wed, Mar. 4, 2:25 AM | Comment!
  • Mon, Mar. 2, 9:47 AM
    • The European Commission approves Actavis (ACT +1.1%) subsidiary Durata Therapeutics International's Xydalba (dalbavancin) for the treatment of adult patients acute bacterial skin and skin structure infections (ABSSSI), the first once-weekly intravenous (IV) antibiotic approved for this indication.
    • Xydalba will be commercialized by Rome, Italy-based Angelini.
    • The product is marketed in the U.S. under the brand name Dalvance.
    • Actavis acquired Durata in October.
    • Previously: Actavis to buy Durata (Oct. 6, 2014)
    | Mon, Mar. 2, 9:47 AM | Comment!
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Company Description
Allergan PLC is a specialty pharmaceutical company. The Company is engaged in developing, manufacturing and distributing generic, brand and biosimilar products.