Mon, Jul. 27, 12:48 PM
Mon, Jul. 27, 9:14 AM
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, 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
Sun, Jul. 26, 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)
Thu, Jul. 23, 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."
Thu, Jul. 9, 8:28 AM
- Mylan N.V. (NASDAQ:MYL) launches Bexarotene 75 mg Capsules, its generic version of Valeant Pharmaceuticals' (NYSE:VRX) Targretin Capsules, in the U.S. The product is indicated for the treatment of cutaneous t-cell lymphoma in patients who are refractory to at least one prior systemic therapy.
- According to IMS, Bexarotene 75 mg generated ~$156M in sales in the U.S. for the twelve-month period ending in March.
- Mylan has 270 ANDAs currently under FDA review.
Mon, Jul. 6, 12:25 PM
Wed, Jun. 24, 1:43 PM
- Screen criteria: market cap >=$1B; average daily turnover >=400K shares; % change in mutual fund ownership (most recent qtr) >=0%; PEG ratio: <=1.0.
- (EVHC -0.8%)(ESRX -0.3%)(GILD -0.2%)(JAZZ -1.3%)(KANG -1.5%)(MOH -0.4%)(MYL -0.3%)(SHPG -1%)(UTHR -3.6%)(VRX -1.4%)(ZTS -1.2%)
- This is not a list of Buy/Sell recommendations, but rather a targeted list of stocks that may be suitable for more in-depth research.
Fri, Jun. 19, 10:42 AM
- Teva Pharmaceutical Industries (TEVA +0.2%) completes its accumulation of a 4.61% stake on Mylan N.V. (MYL -0.3%) which enables Teva to commence proceedings before the Dutch Enterprise Chamber, should it become necessary.
- In addition, Teva commits to limit its stake to less than 5% if Mylan holds its shareholders meeting no later than August 31.
Tue, Jun. 16, 5:30 PM
- Pulmatrix (NASDAQ:PULM) enters into an ex-U.S. development agreement with Mylan N.V. (NASDAQ:MYL) for PUR0200, an investigational bronchodilator for the treatment of chronic obstructive pulmonary disease. The technology underpinning the product candidate is the company's iSPERSE platform, which enables the engineering of small, dense and easily dispersible particles which improves the efficiency of inhaled drugs. Financial terms are not disclosed.
- Separately, the company announces a new drug candidate based on iSPERSE, PUR1900, an inhaled anti-infective for the potential treatment of fungal infections associated with cystic fibrosis. Preclinical data will be presented at a scientific meeting later this year.
Thu, Jun. 11, 6:47 AM
- Teva Pharmaceutical (NYSE:TEVA) has now raised its stake in Mylan (NASDAQ:MYL) to 3%, as part of its effort to acquire its rival, Globes reports.
- Yesterday, Teva bought about 1.3M shares in Mylan for close to $100M and has now paid about $1.1B for a total of 14.9M shares.
- Previously: Reuters: Teva set to raise stake in Mylan (Jun. 03 2015)
Wed, Jun. 10, 2:20 AM
- A Pennsylvania judge has recommended Kirkland & Ellis be prevented from advising Teva Pharmaceutical (NYSE:TEVA) on its attempted takeover of Mylan (NASDAQ:MYL) after the law firm represented Mylan on other matters.
- The report is likely to shake up a bitter, three-way takeover battle. Mylan has rejected Teva's bid in unusually harsh terms and is instead plowing ahead with its own, twice-rejected offer for Perrigo (NYSE:PRGO).
Mon, Jun. 8, 3:36 PM
- In yet another letter, Mylan (MYL -0.5%) Executive Chairman Robert Coury wants (TEVA -0.9%) to answer two simple questions: Are you going to make a formal offer for us? If so, are you willing to do whatever the U.S. Federal Trade Commission stipulates to make the deal happen?
- A response letter from Teva will, no doubt, be sent shortly.
Mon, Jun. 8, 1:15 PM
- In a letter to Mylan (MYL -0.6%) Executive Chairman Robert Coury, Teva Pharmaceutical Industries' (TEVA +0.2%) President & CEO Erez Vigodman responds to Mylan's rather negative perceptions about the latter's intent regarding a takeover bid. Teva appears committed to getting a deal done and asserts that Mylan is the one who is holding things up.
- Mylan is on the prowl for generic drug firm Perrigo (PRGO -0.9%), who keeps rejecting its offers, the latest at $34B. Teva made a $40B bid for Mylan in April that Mylan rejected.
Wed, Jun. 3, 1:47 AM
- Raising additional legal concerns, Teva Pharmaceutical (NYSE:TEVA) is reportedly looking to purchase more shares in Mylan (NASDAQ:MYL), sources told Reuters.
- Teva last week disclosed a 1.8% stake in Mylan, which blasted the move as breaching U.S. antitrust laws. Companies that acquire stakes worth more than $76.3M in rivals must first obtain regulatory approval.
- The strategy is a sign of Teva's commitment to acquire Mylan, as the latter presses on with its own $34B hostile bid for Perrigo (NYSE:PRGO).
- MYL rose 1% in after-hours trading.
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