Every Friday, Seeking Alpha's Biotech Weekly highlights the editors' picks of the week's Seeking Alpha analysis, as well as a review of the top Breaking News stories.
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And now, on to the week's news and analysis.
Seeking Alpha Analysis You Should Check Out
- A Pre-Earnings Update On Gilead by DoctoRx (SA PRO Article)
- Gilead Versus Celgene: Value Play Versus Reinvestment Opportunity by Intrepid Investor
- Top Value Biotech Picks Starting Q2 2015 by Daniel Ward
- The Unwinding Of Convertible Notes Has Positive Implications For MannKind by George Rho
- Vivus Offers Operational Update - Is Trouble Brewing? by Spencer Osborne
- Exelixis Entering Critical Six-Month Period by Clinically Sound Investor
- Apparent Connections To A Convicted Stock Promoter: Another Chapter In The Organovo Saga by Alpha Exposure
- Why You Should Own Brainstorm Cell Therapeutics by Jason Napodano, CFA (SA PRO Article)
Here are some of the top breaking news items of the week.
Teva Pharmaceutical Industries (NYSE:TEVA) acquires Auspex Pharmaceuticals (NASDAQ:ASPX) for $101 per share ($3.2B) in an all-cash transaction. The deal will enhance Teva's revenue and earnings growth profile as well as strengthen its central nervous system franchise.
Horizon Pharma (NASDAQ:HZNP) has agreed to acquire all of the issued and outstanding shares of Hyperion Therapeutics' (NASDAQ:HPTX) common stock for $46 per share in cash or approximately $1.1B on a fully diluted basis.
The FDA approves a new indication for Medtronic's (NYSE:MDT)CoreValve System, a self-expanding device for aortic value replacement, to treat patients who have had a tissue aortic valve replacement and are in need of a second one, called "valve-in-valve" replacement.
Even after his big win with Allergan, Bill Ackman's Pershing Square maintains significant exposure (~50%) to the healthcare sector. In a recent regulatory filing, Pershing disclosed a 19.5M share stake in Valeant Pharmaceuticals (VRX -0.2%) valued at ~$3.83B, making it the largest position in its equity portfolio. It also has a 41.8M share stake in Zoetis (ZTS -0.2%) valued at almost $2B.
NuVasive (NUVA -3%) CEO Alex Lukianov was forced to resign after an internal investigation found that he failed to comply with the firm's expense reimbursement and other policies. According to Director Jack Blair, the amounts involved are immaterial to the company's financial results but Mr. Lukianov's actions "in this regard were not representative of the high standards by which NuVasive operates. We believe this leadership transition is appropriate and in the best interests of the Company and all of our stakeholders."
Micro cap Organovo (NASDAQ:ONVO) is up 10% premarket on average volume in response to its announcement that it presented data on in vitro three-dimensional kidney tissue at the Experimental Biology conference in Boston.
The latest buzz surrounding Panasonic Healthcare's rumored bid for Bayer's (OTCPK:OTCPK:BAYRY +1%) diabetes device business pegs the price at $830M, down substantially from earlier estimates as high as $2.5B.
Other stories of note:
- Suitors allegedly eyeing Italian pharma firm's rare diseases unit
- ImmunoGen raises $194M via royalty transaction
- FDA accepts Amgen's Kyprolis sNDA under Priority Review
- BioDelivery Sciences' Clonidine Topical Gel fails Phase 3; shares plunge 35%
- Cancer PD-1 inhibitor market only half as large as consensus says analyst
- U.S. launch of Movantik underway
- GW Pharma initiates Phase 3 study of Epidiolex in Dravet syndrome
- FDA clears new oral formulation of Novartis' Exjade
- Movantik launch triggers $100M milestone payment to Nektar
- Xtandi successful in second Phase 2 prostate cancer study
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it. The author has no business relationship with any company whose stock is mentioned in this article.
Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.