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Allergan Inc. (AGN)

- NYSE
  • Mon, Jul. 27, 9:14 AM
    | Mon, Jul. 27, 9:14 AM | 2 Comments
  • Mon, Jul. 27, 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.
    | Mon, Jul. 27, 7:09 AM | 3 Comments
  • Thu, May 21, 10:58 AM
    • Thinly traded nano cap Intellipharmaceutics (IPCI +17.3%) heads north on a 10x surge in volume in response to its announcement that the FDA may not require a Phase 3 study for its abuse-deterrent opioid candidate, Rexista Oxycodone XR, if bioequivalence to Purdue Pharma's Oxycontin is demonstrated. The company believes that its previously completed Phase 1 trials fulfill this criterion.
    • The firm intends to file its New Drug Application (NDA) within the next 6 - 12 months. Approval is not guaranteed, however. After reviewing the data, the FDA may still require further studies.
    • Rexista Oxycodone XR's formulation deters abuse by instantaneously coagulating and entrapping the drug in a viscous hydrogel when pulverized and hydrated. It is also designed to prevent dose dumping if taken with alcohol.
    • Related tickers: (PTIE -1.9%)(DRRX)(COLL +1.9%)(ZGNX)(MNK -0.3%)(ACT +1.1%)(TEVA +1.6%)(ABBV -0.7%)(LCI -0.7%)(ALKS -1%)(EGLT -0.1%)(PFE -0.2%)(ACUR -2.4%)
    | Thu, May 21, 10:58 AM | 12 Comments
  • 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!
  • Wed, Feb. 18, 6:43 AM
    • Actavis (NYSE:ACT): Q4 EPS of $3.91 beats by $0.24.
    • Revenue of $4.01B (+44.2% Y/Y) beats by $170M.
    • Shares +2.83% PM.
    • Press Release
    | Wed, Feb. 18, 6:43 AM | Comment!
  • Thu, Feb. 5, 4:32 AM
    • AstraZeneca (NYSE:AZN) reported a fourth-quarter loss this morning, but stressed that it was on track to return to growth by 2017.
    • The company's fourth-quarter net loss came in at $321M, down 38% from $524M a year earlier, while sales for the last three months of the year fell 2% to $6.68B.
    • Actavis (NYSE:ACT) also confirmed that AstraZeneca would buy its branded respiratory business in the U.S. and Canada for an initial $600M.
    • ACT -1.7% premarket
    | Thu, Feb. 5, 4:32 AM | Comment!
  • Dec. 24, 2014, 8:52 AM
    • The FDA approves the New Drug Application (NDA) for Namzaric, a fixed dose combination of memantine HCl extended release and donepezil hydrochloride, for the treatment of moderate-to-severe dementia of the Alzheimer's type.
    • Memantine is an NMDA receptor agonist which blocks the activity of the neurotransmitter glutamate. At normal levels, glutamate aids memory and learning but it the levels are excessive, it overstimulates and eventually kills nerve cells via excitotoxicity.
    • Donepezil is a reversible acetylcholinesterase inhibitor. It inhibits the hydrolysis of acetylcholine which is a process associated with cognitive impairment.
    • Namzaric was co-developed by Adamas Pharmaceutics (NASDAQ:ADMS) and Forest Laboratories (NYSE:ACT) under the terms of an agreement signed in November 2012.
    • Adamas is due a $30M milestone payment from Forest for the approval.
    • ADMS is up 19% premarket on moderate volume.
    | Dec. 24, 2014, 8:52 AM | Comment!
  • Nov. 21, 2014, 1:51 AM
    • Valeant Pharmaceuticals (NYSE:VRX) has slashed its stake in Allergan (NYSE:AGN) to 0.1% from 9.7%, three days after Actavis (NYSE:ACT) trumped its offer for the Botox maker.
    • Pershing Square and Valeant have now sold all 2.2M Allergan in PS Fund 1, a shell fund that was set up by the two to act as a joint acquisition vehicle.
    • VRX -0.8% AH
    | Nov. 21, 2014, 1:51 AM | Comment!
  • Nov. 17, 2014, 5:40 PM
    • Top gainers, as of 5:15 p.m.: AVB +4.9%. CLVS +3.1%. GLW +2.5%. ACT +2.3%. DHX +2.1%.
    • Top losers, as of 5:15 p.m.: OME -19.2%. URBN -4.8%. FOLD -3.4%. RMTI -3.2%. PF -2.7%.
    | Nov. 17, 2014, 5:40 PM | Comment!
  • Nov. 11, 2014, 4:16 PM
    • The presence of Pershing Square's Bill Ackman on the list of major investors in Zoetis (NYSE:ZTS) sends a clear signal that it may be an acquisition target by none other than Valeant Pharmaceuticals (NYSE:VRX). A deal is not out of the question in light of its diminishing prospects of acquiring Allergan (NYSE:AGN) since Actavis (NYSE:ACT) joined the mix.
    • In after hours trading, VRX is up a fraction and ZTS is unchanged, both on higher-than-normal volume.
    • Previously: Zoetis jumps 6% on report of Ackman stake
    | Nov. 11, 2014, 4:16 PM | 1 Comment
  • Nov. 7, 2014, 1:53 AM
    • Salix Pharmaceuticals (NASDAQ:SLXP) -38.3% AH after announcing an accounting revision that showed sales of its drugs not as strong as Wall Street's expectations. The changes were accompanied by the resignation of CFO Adam Derbyshire.
    • The accounting issue also played a role in scuttling a potential takeover from Allergan (NYSE:AGN) earlier this year, WSJ reports.
    • Salix lowered its earnings guidance for the year, and now expects 2014 net income of $400M, or $5.20 per share, down from earlier estimates of $475M, or $6.16 per share.
    | Nov. 7, 2014, 1:53 AM | 7 Comments
  • Oct. 7, 2014, 6:06 PM
    • Valeant (NYSE:VRX) and Bill Ackman's Pershing Square Capital plan to up their hostile cash/stock bid for Allergan (NYSE:AGN) by $15/share, the WSJ reports. Based on Valeant's Tuesday close, that puts the new offer around $191/share.
    • Valeant/Pershing are still reportedly "ironing out questions of timing and the mix of cash and stock for the additional $15-per-share rise."
    • AGN +2.6% AH to $191.00.
    • Earlier: Allergan asks judge to keep Pershing's stake out of shareholder vote
    • Update (6:15PM): Valeant is up 3.4% AH.
    | Oct. 7, 2014, 6:06 PM | Comment!
  • Oct. 6, 2014, 8:37 AM
    • Actavis (NYSE:ACT) acquires Durata Therapeutics (NASDAQ:DRTX) for $675M ($23/share) in cash and contingent value rights entitling the holder to receive up to an additional $5 per share if certain Dalvance (dalbavancin)-related regulatory or commercial milestones are met. Actavis expects the acquisition to be accretive by the end of the first year.
    | Oct. 6, 2014, 8:37 AM | 6 Comments
  • Oct. 2, 2014, 6:16 PM
    • Bloomberg reports Salix (NASDAQ:SLXP) is now in talks to sell itself to Actavis (NYSE:ACT), and that M&A talks with Allergan (NYSE:AGN) have faded.
    • A tangled web: The WSJ previously reported Allergan was in "advanced talks" to buy Salix after turning down Actavis. Since then, speculation has grown Actavis will bid for Salix.
    • SLXP +3.9% AH.
    | Oct. 2, 2014, 6:16 PM | Comment!
  • Sep. 23, 2014, 5:35 PM
    | Sep. 23, 2014, 5:35 PM | Comment!
  • Sep. 23, 2014, 2:27 PM
    • Pfizer (PFE -0.6%) approached Actavis (ACT +3.3%) to "express its interest in an acquisition," sources tell Bloomberg. However, the news service adds the companies "aren’t currently in formal talks and Pfizer hasn’t made an offer."
    • Actavis has spiked on the report. Pfizer, interested in doing a tax inversion deal, made a rejected bid to acquire AstraZeneca earlier this year. Actavis was reported yesterday to have made a rejected offer for Allergan (AGN +1.4%), which is reportedly in advanced talks to buy Salix.
    • Yesterday, the Treasury Department announced it's close to finalizing rules meant to discourage U.S. companies from doing inversion deals.
    | Sep. 23, 2014, 2:27 PM | 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.