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Aug. 3, 2015, 8:30 AM
- To further its emphasis on personalized medicine, Teva Pharmaceutical Industries (TEVA -0.1%) establishes a 51% equity stake in privately-held Cambridge, MA-based Immuneering, a genomic analysis company that employs proprietary algorithms using genetic, genomic and proteomic data to generate biological insights that enhance the clinical and commercial success of medicines.
- The firms have been working together over the past several years in characterizing non-biological complex drugs in addition to genetic biomarkers and therapy-specific gene expression signatures. Teva has the right of first refusal in projects related to Immuneering's work in central nervous system disorders.
- The specific amount of Teva's investment is not disclosed.
Jul. 31, 2015, 1:40 PM
- Teva Pharmaceutical Industries (TEVA -0.3%) receives commitment letters from a group of major banks for loans totaling $33.75B, $27B under a senior unsecured Bridge Loan Credit Facility and $6.75B under an Equity Bridge Loan Credit Facility.
- Teva will use the funds to pay for its acquisition of Allergan's generic drugs business.
Jul. 30, 2015, 3:51 PM
- Teva Pharmaceutical Industries (TEVA -2.6%) resumed at Morgan Stanley with an Overweight rating and price target of $85 (23% upside).
- Depomed (DEPO -2.9%) downgraded to Sector Perform from Outperform by RBC Capital. Price target raised to $32 (3% upside) from $26.
- Immunomedics (IMMU -1.2%) downgraded to Hold from Buy by Jefferies. Price target lowered to $2 (4% downside risk) from $6.
Jul. 30, 2015, 7:33 AM
- Teva Pharmaceutical Industries (NYSE:TEVA) Q2 results ($M): Total Revenues: 4,966 (-1.6%); Generic Medicines: 2,466 (-1.9%); Specialty Medicines: 2,090 (+3.1%); Other: 1,036 (+106.0%).
- Copaxone sales: 1,054 (+12.2%).
- Net Income: 539 (-27.7%); EPS: 0.63 (-27.6%); CF Ops: 1,480 (+40.6%).
- 2015 Guidance: Total Revenues: $19.0B - 19.4B (unch); Gross Margin: 60.0 - 62.5% from 59.5 - 61.5%; Non-GAAP EPS: $5.15 - 5.40 from $5.00 - 5.30.
- Shares are off a fraction premarket.
Jul. 30, 2015, 7:15 AM
- Teva Pharmaceutical (NYSE:TEVA): Q2 EPS of $1.43 beats by $0.15.
- Revenue of $4.97B (-1.6% Y/Y) beats by $190M.
Jul. 29, 2015, 12:52 PM
- Teva Pharmaceutical Industries (TEVA -0.5%) will report complete Q2 results tomorrow before the open. On Monday, it reported preliminary results of EPS of $1.43 (+16.3%) on revenues of $4.97B (-1.4%).
Jul. 29, 2015, 10:28 AM
- The FDA approves Ignyta's (RXDX -2.3%) Investigational New Drug (IND) application for RXDX-107, a nanoformulation of modified bendamustine, a nitrogen mustard used to treat certain blood cancers. The company intends to start a Phase 1/1b clinical trial promptly.
- RXDX-107, acquired from Teva Pharmaceutical Industries (TEVA +0.3%) in March, is a new chemical entity comprising an alkyl ester of bendamustine encapsulated in human serum albumin to form nanoparticles. Its value proposition is a longer half-life and improved tissue biodistribution compared to traditional bendamustine.
- Previously: Ignyta up 31% after hours on Teva oncology deal (March 17)
Jul. 28, 2015, 10:08 AM
- The European Medicines Agency validates Teva Pharmaceutical Industries' (TEVA -1.6%) Marketing Authorization Application (MAA) for reslizumab for the treatment of inadequately controlled asthma in adult patients with elevated blood eosinophils despite an inhaled corticosteroid-based regimen. A final decision by the European Commission is anticipated in H2 2016.
- Reslizumab is an investigational humanized monoclonal antibody that binds to interleukin-5 (IL-5), a cytokine that plays a key role in the activation and growth of eosinophils, a type of white blood cell that is elevated in the lungs and blood of many asthmatics. High levels of eosinophils correlate with disease severity so binding to IL-5 inhibits its ability to stoke eosinophil levels.
- Teva's Biologics License Application (BLA) is currently under review by the FDA. A decision is expected in March 2016.
- Asthma-related tickers: (SNY -0.1%)(GSK -0.4%)(AZN -0.7%)(OTCQX:RHHBY)(AMGN +2.2%)(MRK -1.1%)(NVS +0.7%)(THRX +1.5%)
Jul. 27, 2015, 12:48 PM
Jul. 27, 2015, 9:14 AM
Jul. 27, 2015, 8:00 AM
- Teva Pharmaceutical (NYSE:TEVA): Q2 EPS of $1.43 beats by $0.12.
- Revenue of $4.97B (-1.4% Y/Y) beats by $60M.
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. 27, 2015, 5:19 AM
- Teva Pharmaceuticals (NYSE:TEVA) has agreed to buy the generic-drug business of Allergan (NYSE:AGN) for about $40.5B in cash and stock, ending its effort to acquire rival Mylan (NASDAQ:MYL).
- Allergan will receive $33.75B in cash and shares in Teva valued at $6.75B, giving it a 10% stake in the enlarged company.
- The acquisition further extends a wave of mergers that has swept over the healthcare industry. Pharmaceutical deals so far this year have topped $180B, on pace to beat the $200B announced in 2014.
- TEVA +12.1% premarket
Jul. 27, 2015, 3:40 AM| Jul. 27, 2015, 3:40 AM
Jul. 26, 2015, 6:37 AM
- Teva Pharmaceuticals (NYSE:TEVA) is in advanced talks to buy Allergan's (NYSE:AGN) generic drug business following an unsuccessful effort to acquire Mylan (NASDAQ:MYL), WSJ reports.
- A deal for the business, valued at about $45B, could be announced as early as Monday and would extend the recent wave of mergers that has swept over the healthcare industry.
- Previously: Bloomberg: Allergan thinking of selling/spinning off generics business (Jul. 24 2015)
Jul. 23, 2015, 1:06 PM
- An independent Dutch foundation, Stichting Preferred Shares Mylan, exercises its call option allowing it to purchase 50% of Mylan's (MYL -1.4%) shares, giving it temporary control of half the company. The call option (i.e., poison pill), a common feature in Netherlands-based foundations, is a mechanism by which these groups can block unwelcome bids like the one from Teva Pharmaceutical Industries (TEVA). According to Stichting, it is acting to "safeguard Mylan's stakeholder interests." Mylan rejected Teva's $40B offer in April.
- In a statement, Teva said it has the power to challenge to foundation's action in court and that it would "take the necessary actions at the appropriate time."
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