Leerink analyst Jason Gerberry noted that Actavis is pursuing a generic version of Valeant's (VRX) blockbuster Xifaxan drug and he views the news as further validation of the quality of the pipeline that Teva (TEVA) is acquiring from Allergan (AGN) in its planned generic portfolio deal. Gerberry keeps an Outperform rating on Teva shares.

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."