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Aug. 4, 2015, 7:46 AM
- Shire plc (NASDAQ:SHPG) discloses that it made a proposal to Baxter (NYSE:BAX) spin-off Baxalta (NYSE:BXLT) to combine the firms in an all-stock transaction valued at $30B or $45.23 per share. Baxalta had previously declined to enter into discussions with Shire about a potential merger.
- Update: BXLT up 19% premarket on robust volume. SHPG down 4% on high volume.
Aug. 3, 2015, 9:14 AM
- Baxalta (BXLT) announces that it published pivotal Phase 3 data for its investigational Von Willebrand treatment BAX 111 in the journal of American Society and Hematology.
- The data demonstrated that 100% of the patients treated with BAX 111, a highly purified recombinant von Willebrand factor candidate, achieved success in the management of bleeding episodes.
- BAX 111 is currently under review by FDA. If approved, it would become the first recombinant replacement treatment for managing bleeding episodes for von Willebrand patients. Previously: Baxter's recombinant von Willebrand factor delivers 100% treatment success rate (April 20)
- Related tickers: (BAX)
Jul. 29, 2015, 4:41 PM
- Baxter International (NYSE:BAX) Q2 results ($M): Total Revenues: 3,893 (-8.7%); BioScience: 1,429 (-18.4%); Medical Products: 2,464 (-1.9%).
- Sales by segment: Hemophilia: 672 (-25.7%); Immunoglobulin Therapies: 422 (-41.4%); Inhibitor Therapies: 183 (-0.5%); BioTherapeutics: 152 (-1.9%); Fluid Systems: 518 (-3.0%); Renal: 949 (-9.1%); Integrated Pharmacy Solutions: 548 (-16.3%); Surgical Care: 333 (-3.8%).
- Net Income: 332 (-36.2%); EPS: 0.60 (-36.8%).
- Q3 Guidance: Revenues: flat from (9 - 10%); GAAP EPS: $0.00 - 0.02.
- H2 Guidance: GAAP EPS: $0.23 - 0.27.
- Shares are unchanged after hours.
Jul. 29, 2015, 4:35 PM
- Baxter (NYSE:BAX): Q2 EPS of $1.00 beats by $0.05.
- Revenue of $3.89B (-6.3% Y/Y) beats by $120M.
- Shares -0.03%.
Jul. 29, 2015, 12:26 PM
- Baxter International (BAX +1.1%) reports Q2 results after the close. Consensus view is EPS of $0.95 on revenues of $3.8B.
Jul. 28, 2015, 5:35 PM
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Jul. 8, 2015, 7:53 AM
- Relypsa (NASDAQ:RLYP) initiated with Buy rating and $42 (29% upside) price target by Cantor Fitzgerald.
- K2M Holdings (NASDAQ:KTWO) initiated with Buy rating and $30 (24% upside) price target by Needham.
- Baxter International (NYSE:BAX) downgraded to Market Perform from Outperform by BMO Capital Markets. Price target lowered to $36 (3% downside risk) from $80.
Jul. 7, 2015, 10:50 AM
- Edwards Lifesciences (EW -0.8%) upgraded to Overweight from Equal Weight with a $168 (17% upside) price target (up from $135) by Morgan Stanley.
- HealthSouth (HLS -0.7%) upgraded to Market Outperform from Market Perform with a price target of $54 (15% upside) by JMP Securities.
- AstraZeneca (AZN -0.6%) upgraded to Buy from Hold with an $81 (25% upside) price target by Berenberg.
- Humana downgraded to Hold from Buy by Argus Research.
- Intuitive Surgical (ISRG -1.1%) downgraded to Underweight from Equal Weight by Morgan Stanley. Price target lowered to $500 (6% upside) from $560.
- Aegerion Pharmaceuticals (AEGR -0.5%) downgraded to Sell from Neutral by Guggenheim Securities.
- Centene (CNC -3.3%) downgraded to Equal Weight from Overweight by Barclays. Price target lowered to $81 (20% upside) from $88.
- Raptor Pharmaceutical (RPTP -1.8%) downgraded to Underperform from Perform with an $8 (40% downside risk) price target by Oppenheimer.
- Aetna (AET -3.5%) downgraded to Market Perform from Outperform by FBR Capital Markets. Price target lowered to $120 (6% upside) from $130.
- Baxter International (BAX -2.3%) downgraded to Neutral from Buy by Bank of America. Price target lowered to $40 (8% upside) from $78.
Jul. 1, 2015, 10:54 AM
- Baxter International (BAX -45.9%) spin-off Baxalta (BXLT -2.1%) begins trading today. Baxter retains almost a 20% stake in the firm.
- Previously: Baxter details post-split financial objectives (May 18)
- Previously: Baxter moves ahead on Baxalta spin-off; share dividend declared (June 5)
- Previously: Baxalta projected to log $5.9B in sales this year (May 19)
Jun. 24, 2015, 12:40 PM
- Baxter International (BAX +1.6%) initiated with Buy rating and $45 (post Baxalta) price target by Goldman Sachs.
- UnitedHealth Group (UNH -2%) initiated with Outperform rating and $159 (33% upside) price target by RBC Capital.
- Esperion Therapeutics (ESPR +2.1%) initiated with Neutral rating and $86 (4% upside) price target (down from $130) by Credit Suisse.
- Corindus Vascular Robotics (OTCPK:CVRS +0.2%) initiated with Buy rating and $6 (38% upside) price target by Stifel.
- Perrigo (PRGO -0.1%) initiated with Outperform rating and $246 (30% upside) price target by BMO Capital.
- Signal Genetics (SGNL +3.8%) initiated with Buy rating and $2.50 (55% upside) price target by Chardan Capital.
- CASI Pharmaceuticals (CASI +2.8%) initiated with Buy rating and $2.50 (39% upside) price target by HC Wainwright.
- Eagle Pharmaceuticals (EGRX -0.8%) initiated with Outperform rating and $97 (11% upside) price target by RBC Capital.
- BioLineRx (BLRX -0.2%) initiated with Outperform rating and $5 (117% upside) price target by JP Morgan.
- OncoSec Medical (ONCS -2.5%) initiated with Buy rating and $25 (255% upside) price target by HC Wainwright.
- Ignyta (RXDX +1.4%) initiated with Overweight rating and $34 (103% upside) price target by Piper Jaffray.
- Acadia Healthcare (ACHC -1.6%) initiated with Buy rating and $84 (11% upside) price target by Mizuho Securities.
- Pacira Pharmaceuticals (PCRX -6.2%) initiated with Market Perform rating and $86 (23% upside) price target by Leerink Swann.
Jun. 22, 2015, 7:48 AM
- Kamada (NASDAQ:KMDA) collaborates with Baxter (NYSE:BAX) subsidiary Baxalta on a Phase 1/2 clinical trial evaluating Kamada's proprietary alpha-1 antitrypsin (AAT) for the prevention of lung transplant rejection.
- Under the terms of the agreement, Baxalta will assist in the development of the study as well as the funding. The trial is expected to commence in H1 2016.
- Kamada's AAT demonstrated positive results in a proof-of-concept Phase 2 study in Graft-versus-Host-Disease conducted with Baxalta.
- Baxalta has distribution rights to AAT, branded as Glassia, for all indications in the U.S., Canada, Australia and New Zealand. Kamada retains full rights in all other territories.
- Baxalta will begin trading as a separate company on July 1 under the symbol "BXLT."
Jun. 19, 2015, 8:28 AM
- Baxter International (NYSE:BAX) subsidiary Baxalta prices a $5B private offering of senior notes with yields ranging from 2.00% to 5.25%, with one floating rate tranche ($375M). Net proceeds will be used to make a $4B cash distribution to Baxter and for general corporate purposes, including acquisitions.
- Baxter will use the cash to redeem certain outstanding debt.
- Baxalta will be spun out by the end of the month. Shares will begin trading on the NYSE under the symbol "BXLT" on July 1.
Jun. 5, 2015, 4:45 PM
- Baxter International's (NYSE:BAX) Board of Directors approves the separation of its biopharmaceuticals business, known as Baxalta, and declares a special dividend distribution of 80.5% of Baxalta's common stock to Baxter shareholders who will receive one share of Baxalta for each BAX share owned. Baxter will retain a 19.5% stake.
- Baxalta will begin trading as an independent company on the New York Stock Exchange on July 1 under the symbol "BXLT."
Jun. 1, 2015, 10:13 AM
- CTI BioPharma (CTIC +17.5%) jumps in early trading in response to its announcement at ASCO (abstract #LBA7006) that patients with myelofibrosis treated with its lead product candidate, pacritinib, in a Phase 3 trial called PERSIST-1 met the primary efficacy endpoint of a statistically significant reduction in spleen volume compared to baseline at week 24. The results were originally reported in March.
- Fast Track-designated pacritinib, an oral tyrosine kinase inhibitor, is being co-developed with Baxter International (BAX -0.2%). Tyrosine kinase is an enzyme that serves as an "on/off" switch in many cellular functions. If stuck in the "on" position, unregulated cell growth occurs.
- Previously: CTI Bio up 19% premarket on Phase 3 results (March 9)
May 21, 2015, 11:18 AM
- Under the decentralized procedure, Baxter International (BAX -0.7%) submits a marketing authorization application to 17 authorities in Europe seeking approval of its 20% concentration subcutaneous immune globulin treatment for patients with primary immunodeficiencies. The company is advancing the 20% product in an effort to expand its treatment portfolio in primary immunodeficiencies.
May 21, 2015, 9:30 AM
- Alongside Goldman's list of 50 stocks appearing most as top holdings at hedge funds is its list of the 50 top shorts.
- New additions this quarter: Baxter Intl (NYSE:BAX), UPS, Marriott (NASDAQ:MAR), NextEra (NYSE:NEE), Ford (NYSE:F), National Oilwell Varco (NYSE:NOV), McDonald's (NYSE:MCD), M&T Bank (NYSE:MTB), CenturyLink (NYSE:CTL), Amgen (NASDAQ:AMGN), Pioneer Natural (NYSE:PXD), Duke Energy (NYSE:DUK), Seagate (NASDAQ:STX), AbbVie (NYSE:ABBV), Cisco (NASDAQ:CSCO).
- The full list (in order of $ value of short interest): AT&T (NYSE:T), Disney (NYSE:DIS), IBM, Verizon (NYSE:VZ), Intel (NASDAQ:INTC), Kinder Morgan (NYSE:KMI), Exxon (NYSE:XOM), Pfizer (NYSE:PFE), J&J (NYSE:JNJ), Deere (NYSE:DE), Caterpillar (NYSE:CAT), Exelon (NYSE:EXC), GE, Boeing (NYSE:BA), Halliburton (NYSE:HAL), Fox (NASDAQ:FOXA), Comcast (NASDAQ:CMCSA), UTX, Regeneron (NASDAQ:REGN), Merck (NYSE:MRK), salesforce.com (NYSE:CRM), AbbVie (ABBV), Conoco (NYSE:COP), Wal-Mart (NYSE:WMT), Eli Lilly (NYSE:LLY), Celgene (NASDAQ:CELG), Schlumberger (NYSE:SLB), AutoZone (NYSE:AZO), Wells Fargo (NYSE:WFC), Emerson (NYSE:EMR), McDonald's (MCD), Reynolds (NYSE:RAI), Target (NYSE:TGT), Accenture (NYSE:ACN), Coca-Cola (NYSE:KO).
Baxter International Inc is a healthcare company. It develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic conditions.
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