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TEVA

Teva

$36.37

(0.00%)

09:26
12/22/16
12/22
09:26
12/22/16
09:26

Teva announces settlement with U.S. on FCPA violations

Teva Pharmaceuticals announced the conclusion of negotiations with the United States government over violations of the Foreign Corrupt Practices Act, or FCPA. Following Teva's voluntary worldwide investigation into business practices, Teva and the U.S. Department of Justice (DOJ) and Securities and Exchange Commission have agreed to a resolution to resolve previously disclosed investigations into conduct relating to three countries - Ukraine, Mexico and a guilty plea by the subsidiary in Russia. The resolution includes a deferred prosecution agreement, the implementation of a temporary independent compliance monitor, and previously reserved payments totaling $519M. The resolution involves conduct occurring in the past, and none of the employees involved in the improper payments are still employed by Teva, including in Russia where the entire leadership team was replaced in 2013. None of the conduct in question involved Teva's U.S. sales.

TEVA Teva
$36.37

(0.00%)

12/07/16
OPCO
12/07/16
INITIATION
Target $50
OPCO
Outperform
Teva assumed with an Outperform at Oppenheimer
Oppenheimer analyst Derek Archila assumed coverage of Teva Pharmaceutical with an Outperform rating but lowered his price target for the shares to $50 from $66. The analyst believes the stock underperformance this year has created an attractive entry point for investors.
12/15/16
LEER
12/15/16
NO CHANGE
LEER
DoJ could launch separate cases against generic pharma makers, says Leerink
Looking more closely at the Department of Justice indictments brought against executives of Heritage Pharma, Leerink analyst Jason Gerberry sees a few positive takeaways. While the DoJ alleges price collusion in a market where Mylan (MYL) participated during the alleged pricing fixing period, the analyst notes that none of the other products listed in a recent Mylan subpoena which overlap with Heritage products were cited. Additionally, Gerberry points out that while Teva (TEVA) had a dominant share of the glyburide market, the overall sales during the alleged period were negligible, and therefore a fine would not likely be material even if wrong doing were found. Nonetheless, the analyst believes the DoJ could launch separate cases against generic pharma makers over the course of the next 1-2 years.
12/15/16
WELS
12/15/16
NO CHANGE
WELS
Wells sees potential for larger risks from generic antitrust suit
Connecticut's Attorney General, along with 19 other states, filed an antitrust lawsuit against a group of generic drugmakers, including Mylan (MYL) and Teva (TEVA), alleging that the companies conspired to restrain trade, artificially inflate prices, and reduce competition in the U.S. for two drugs: doxycycline hyclate delayed release, an antibiotic, and glyburide, a diabetes medication, Wells Fargo analyst David Maris tells investors in a research note. While the shares are yet to react significantly to the news, larger business practice risks beyond this suit could surface should the allegations prove true, the analyst contends.
12/21/16
PIPR
12/21/16
NO CHANGE
PIPR
Gilead buying Alexion tops Piper's potential events in 2017
Piper Jaffray healthcare analysts, led by Joshua Schimmer, laid out 17 potential surprise or provocative events for Biopharma in 2017. Their potential outcomes and events are led Gilead (GILD) acquiring Alexion (ALXN) and a President Donald Trump tweeting about the price of Biogen and Ionis Pharmaceuticals' (IONS) Spinraza. Other potential events Piper sees is a "massively dilutive" equity recapitalization for Valeant (VRX) and a failure for Seattle Genetics' (SGEN) ECHELON trial. The firm also sees the potential for Teva cleaning house and bringing in a non-Israeli CEO.

TODAY'S FREE FLY STORIES

FFIV

F5 Networks

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CMG

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PTCT

PTC Therapeutics

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-0.19 (-0.54%)

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HRTX

Heron Therapeutics

$37.75

-0.35 (-0.92%)

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MTB

M&T Bank

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5.77 (3.42%)

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Treasury Market Outlook: Treasury yields have extended slightly higher »

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WRD

WildHorse Resource

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ARA

American Renal Associates

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Initiation
American Renal Associates initiated  »

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BIG

Big Lots

$42.76

0.39 (0.92%)

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07:18
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General news
Futures lower as trade war rhetoric, earnings reporting continues »

Stock futures are…

LITE

Lumentum

$59.30

-0.05 (-0.08%)

, VIAV

Viavi

$10.39

-0.09 (-0.86%)

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LITE

Lumentum

$59.30

-0.05 (-0.08%)

VIAV

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$10.39

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AAPL

Apple

$190.43

-1.12 (-0.58%)

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HNHPF

Hon Hai Precision

$0.00

(0.00%)

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Periodicals
Foxconn interested in webcast business opportunities, DigiTimes reports »

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AXP

American Express

$102.98

1.84 (1.82%)

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General news
FX Update: The Dollar rose for at third consecutive day »

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KEY

KeyCorp

$20.30

0.24 (1.20%)

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Hot Stocks
KeyCorp sees FY18 net interest income $3.95B-$4.05B, one rate increase »

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LGF

Use LGF.A, LGF.B

$0.00

(0.00%)

, AMZN

Amazon.com

$1,842.36

-1.64 (-0.09%)

07:14
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Upgrade
Use LGF.A, LGF.B, Amazon.com, Alphabet Class A rating change  »

Lionsgate upgraded to Buy…

LGF

Use LGF.A, LGF.B

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AMZN

Amazon.com

$1,842.36

-1.64 (-0.09%)

GOOGL

Alphabet Class A

$1,212.64

-1.01 (-0.08%)

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TGT

Target

$76.86

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PM

Philip Morris

$82.16

-0.17 (-0.21%)

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Earnings
Philip Morris lowers FY18 currency-neutral net revenue growth view to 3%-4% »

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RCI

Rogers Communications

$50.94

0.45 (0.89%)

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SPX

S&P 500

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PZG

Paramount Gold Nevada

$1.19

-0.02 (-1.65%)

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PM

Philip Morris

$82.16

-0.17 (-0.21%)

07:09
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Earnings
Philip Morris lowers FY18 EPS view to $5.02-$5.12, consensus $5.15 »

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GDX

Market Vector Gold Miners

$21.88

(0.00%)

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Market Vector Gold Miners: Pivot points, pivot low broken »

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UTX

United Technologies

$131.69

0.98 (0.75%)

, EADSY

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FUL

H.B. Fuller

$55.97

0.58 (1.05%)

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Conference/Events
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