Deutsche Bank raised its price target for Mylan (MYL) shares to $82 to reflect Teva's (TEVA) initial offer to acquire the company. Deutsche's analysis suggests that Teva could pay "significantly more" than $82 per share, but it notes the risk of a deal not happening. The firm believes Mylan shareholders will prefer the near-term risk/reward profile of a sale to Teva over that of an acquisition of Perrigo (PRGO). Deutsche keeps a Buy rating on Mylan saying it thinks management will act in the best interests of shareholder.

Vanda Pharmaceuticals "announced that the Supreme Court denied Vanda's petition for a writ of certiorari in its HETLIOZ(R) Abbreviated New Drug Application litigation against Teva Pharmaceuticals USA, Inc., Apotex Inc. and Apotex Corp." CEO Mihael H. Polymeropoulos stated: "We are disappointed that the Supreme Court has decided not to hear our case and clarify the lower court standard for obviousness in patent law. However, we are pleased that our case has drawn attention to an area of law that has broad and significant implications in life sciences innovation."