Jul. 27, 2015, 7:09 AM
- Mylan (NASDAQ:MYL) drops 12% premarket on increased volume in response to Teva's (NYSE:TEVA) $40.5B deal for Allergan's (NYSE:AGN) generics business, dashing investors' hopes that it would pursue its hostile bid for Mylan.
- In a statement, Mylan reaffirms its interest in Perrigo. A vote on the combination by Mylan shareholders is expected to happen in the next few weeks.
Jul. 6, 2015, 12:25 PM
Apr. 27, 2015, 3:42 PM
- Teva Pharmaceutical Industries (TEVA -4.3%) is allegedly scheduled to meet with institutional holders of Mylan (MYL -5.5%) this week in an effort to clarify the valuation necessary to close the deal. Some observers think a revised bid will be in the $85 - 95 range. Teva's first offer, which Mylan rejected, was $82.
Apr. 21, 2015, 9:22 AM
Apr. 21, 2015, 8:48 AM
- 50% stock and 50% cash
- Expected to be significantly accretive to Teva non-GAAP EPS, starting in the mid-teens in year 1 and approaching 30% by year 3.
- Teva/Mylan product offerings would create a combined pipeline of over 400 pending ANDAs and over 80 first-to-files in the U.S.
- MYL +9.3% premarket to $74.40. TEVA +2.8% premarket.
- Previously: Bloomberg: Teva offer for Mylan could come today (Apr. 21)
- Previously: Mylan says rumored Teva marriage would not makes sense (Apr. 20)
- Related: Why Does Mylan Want To Buy Perrigo? (Apr. 9)
Apr. 21, 2015, 6:17 AM
- Teva (NYSE:TEVA) could make an unsolicited offer for rival Mylan (NASDAQ:MYL) as soon as today, Bloomberg reports, in what could be the drug industry's largest takeover attempt this year. Mylan has a market value of $33.3B.
- Teva has been working with Barclays on the approach and has contacted other banks about financing a potential deal.
- On Friday, Mylan said it's not interested in a sale and doesn't expect a potential combination to clear antitrust hurdles.
- TEVA +3.9%; MYL +12% premarket
- Previously: Mylan says rumored Teva marriage would not makes sense (Apr. 20 2015)
- Previously: Teva reportedly weighing bid for Mylan; shares jump (Apr. 17 2015)
Apr. 17, 2015, 2:30 PM
- The WSJ and Bloomberg report Teva (TEVA +3.4%) is weighing a bid to acquire fellow generic drug giant Mylan (MYL +5.5%), while adding no decision has been made yet. Shaes of both companies have spiked higher.
- Bloomberg's sources state Teva "hasn't made a formal approach yet," though Mylan is aware of Teva's interest. Many analysts have long expected Teva to go after Mylan, given many perceived top and bottom-line synergies. Teva is currently worth $66.2B, and Mylan $34.3B.
- Perrigo (PRGO -2.8%), which Mylan announced a $28.9B ($205/share) bid for last week, has moved lower on the news.
Oct. 3, 2014, 9:10 AM
Oct. 3, 2014, 7:34 AM
- Citing a stronger-than-expected Q3, Mylan (NASDAQ:MYL) increases its Q3 and full-year guidance. For Q3, it now expects non-GAAP EPS to be $1.12 - 1.16 compared to its previous forecast of $0.90 - 0.95. The revised guidance includes $0.14 per share from an agreement with Strides Arcolab Limited. Myan recognized earnings for lost revenues in 2014 that arose from supply disruptions due to quality enhancement efforts initiated at certain Agila locations prior to Mylan's acquisition of Agila from Strides in 2013.
- Mylan ups its 2014 full-year non-GAAP EPS guidance to $3.44 - 3.54 from $3.25 - 3.45.
- The company will report Q3 results on October 30 after the close. The conference call will begin at 4:30 pm ET. Consensus view on revenue is $2.04B.
- Shares are up 4% premarket on light volume.
Apr. 25, 2014, 2:15 PM
Apr. 4, 2014, 9:10 AM
Apr. 4, 2014, 7:14 AM
Feb. 27, 2014, 9:04 AM
- Mylan's (MYL) net profit rose 11% to $180.2M as double-digit growth at the company's specialty segment and in its foreign generics business counter-balanced a 45% drop in revenue from new products following approval delays.
- Gross margin increased to 44% from 43.1%.
- Projects 2014 EPS of $3.25-3.60 vs consensus of $3.38 and revenue of $7.8-8.2B vs $7.75B.
- Mylan expects to make another "substantial transaction" this year, although the company didn't provide details.
- Shares are +3%. (PR)
Jan. 7, 2014, 9:58 AM
- BofA upgrades Perrigo (PRGO +1.2%) to Buy from Neutral. RBC starts the shares as a Top Pick, with a $187 price target.
- BofA upgrades Becton Dickinson (BDX +0.8%) to Neutral from Underperform.
- RBC upgrades Johnson & Johnson (JNJ +1.6%) to Outperform from Sector Perform. Price target is $104.
- Citi upgrades Varian Medical (VAR +1.6%) to Neutral from Sell.
- Roth starts ANI Pharma (ANIP +9.5%) at Buy. Price target is $27.
- RBC starts Teva (TEVA +0.1%) at Sector Perform. Price target is $39.
- RBC starts AcelRx (ACRX +2.5%) at Outperform. Price target is $15.
- RBC starts Mylan (MYL +2.3%) at Outperform. Price target is $50.
- RBC starts Allergan (AGN +1.3%) at Outperform. Price target is $131.
- RBC starts Impax Labs (IPXL +0.2%) at Sector Perform. Price target is $25.
Nov. 20, 2013, 3:15 PM
- Shares of Teva (TEVA +3.7%) are trading notably higher on the session.
- Helping the cause is Susquehanna, where analysts have upgraded the stock to Positive from Neutral.
- Price target is now $50 (from $43).
- Meanwhile, the rumor mill is alive with talk of a possible merger with either Mylan (MYL +0.8%) or Valeant (VRX +0.1%).
- "People are looking for the company to do something,” an S&P analyst quoted by Bloomberg says.
Oct. 14, 2013, 1:29 PM
- Mylan (MYL -1.7%) is suffering through a rough session, underperforming both the broad market and the NASDAQ Biotech Index.
- Earlier, Morgan Stanley downgraded the shares to Equalweight from Overweight and removed a $41 price target.
- Although analyst David Risinger believes the "long-term growth outlook remains robust [thanks in part to] a compelling pipeline of high-value, limited competition opportunities in the U.S.," he steps to the sidelines, saying the "market now better appreciates the strength and durability of Mylan's global platform."
Mylan N.V., is a pharmaceutical company which develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceutical products. It operates through the following businesses: Generic Products, Rx Products, Active Pharmaceutical Ingredients, and Access... More
Industry: Drugs - Generic
Country: United States
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