Stifel said Mylan (MYL) making its offer to buy Perrigo (PRGO) formal will force the company to consider the bid and puts Perrigo in play, with other bidders likely to emerge. Teva (TEVA) has been discussed often as a possible bidder for Perrigo, though the firm sees it as an unlikely buyer given its stated interest in establishing a branded CNS footprint and recent Auspex (ASPX) purchase. Stifel added that Novartis (NVS) has expressed interest in getting larger in OTC and generics, suggesting it could be a competing bidder. The firm thinks this process could be an extended one and keeps its Buy rating on Perrigo shares, while reviewing it prior price target on the stock.

TD Cowen analyst Yaron Werber raised the firm's price target on BeiGene (BGNE) to $236 from $235 and keeps a Buy rating on the shares. The firm updated its model to reflect lower collaborative revenue given termination of Novartis (NVS) agreement for tisle in Sep 2023.

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."