Fly News Breaks for May 19, 2017
May 19, 2017 | 12:32 EDT
After the U.S. Patent Office's Trials and Appeal Board ruled that patents related to Valeant's Apriso were unpatentable, Wells Fargo analyst David Maris said the decision may allow generic competition to the ulcerative colitis drug a "dozen years" earlier than Valeant anticipated. Valeant's 2016 10-K does not list Apriso as one of products the company sees facing generic competition between 2017 and 2021, noted Maris, who adds that it is possible that Valeant appeals the PTAB decision. Maris keeps an Underperform rating on Valeant shares.
News For VRX From the Last 2 Days
Jul 25, 2017 | 10:45 EDT
Bullish option flow detected in Valeant with 23,949 calls trading, 1.4x expected, and implied vol increasing almost 2 points to 67.50%. 7/28 weekly 18 calls and 7/28 weekly 18.5 calls are the most active options, with total volume in those strikes near 9,000 contracts. The Put/Call Ratio is 0.21. Earnings are expected on August 8th.