Wed, Sep. 30, 12:28 PM
- Baxter International (BAX) says it will immediately add Third Point LLC partner Munib Islam to its board of directors and add another mutually agreed upon director in the near term. The additions will expand the board to 12 members.
- Third Point, an activist event-driven investor, is led by CEO Dan Loeb. It is Baxter's largest shareholder with ~10% stake. Having a presence on the board is part of its approach of implementing strategies to unlock shareholder value.
Tue, Sep. 15, 11:35 AM
- The FDA approves privately-held Octapharma's NUWIQ, Antihemophilic Factor (Recombinant), an intravenous therapy for adults and children with hemophilia A. The approval includes on-demand treatment and control of bleeding episodes, routine prophylaxis to reduce the frequency of bleeding episodes and perioperative management of bleeding.
- NUWIQ is the first B-domain-deleted recombinant Factor VIII derived from a human cell line, not chemically modified or fused with another protein, for the treatment of hemophilia A, which affects ~16K Americans.
- NUWIQ was cleared in Europe in August 2014.
- Related tickers: (BAX +0.3%)(BXLT -0.5%)(OTCQX:RHHBY +0.6%)(SGMO +2.4%) (OTCPK:CHGCY) (OPK +2.3%)(ALNY)(BIIB +0.5%)(OTCPK:BAYRY +0.4%)
Tue, Sep. 1, 5:52 PM
- Baxalta (NYSE:BXLT) files an S-1 with the SEC in connection with the proposed secondary offering of up to $1.45B of BXLT common stock currently held by Baxter International (NYSE:BAX).
- As Baxter has previously disclosed, it intends to dispose of its Baxalta stake in a tax-free manner via certain debt-for-equity exchanges. It has 18 months to complete the disposition.
Wed, Aug. 5, 3:35 PM
- Baxter International (BAX +4.7%) is up on more than a 4x surge in volume in apparent response to a 13D filing by noted investor Daniel Loeb's Third Point LLC that disclosed a 7% stake of 37,925,000 shares.
- In a press release, Baxter says that it has "engaged in discussions with Third Point representatives and expects to continue a constructive dialogue." It also says that the Board and management are committed to enhancing value for all Baxter shareholders.
Tue, Aug. 4, 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 $45.23 per share. Baxalta had previously declined to enter into discussions with Shire about a potential merger.
- Update: BXLT up 19% premarket on robust volume. SHPG down 4% on high volume.
Mon, Aug. 3, 9:14 AM
- Baxalta (BXLT) announces that it published pivotal Phase 3 data for its investigational Von Willebrand treatment BAX 111 in the journal of American Society and Hematology.
- The data demonstrated that 100% of the patients treated with BAX 111, a highly purified recombinant von Willebrand factor candidate, achieved success in the management of bleeding episodes.
- BAX 111 is currently under review by FDA. If approved, it would become the first recombinant replacement treatment for managing bleeding episodes for von Willebrand patients. Previously: Baxter's recombinant von Willebrand factor delivers 100% treatment success rate (April 20)
- Related tickers: (BAX)
Wed, Jul. 29, 4:41 PM
- Baxter International (NYSE:BAX) Q2 results ($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.
Wed, Jul. 29, 4:35 PM
Wed, Jul. 29, 12:26 PM
Tue, Jul. 28, 5:35 PM
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Wed, Jul. 8, 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.
Tue, Jul. 7, 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.
Wed, Jul. 1, 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)
Wed, Jun. 24, 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.
Mon, Jun. 22, 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."
Fri, Jun. 19, 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.
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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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