Breaking News Instant updates and real-time market news.

MYL

Mylan

$38.18

0.23 (0.61%)

, AGN

Allergan

$198.41

-7.11 (-3.46%)

18:46
10/16/17
10/16
18:46
10/16/17
18:46

Mylan CEO: 'Pleased' with court ruling on Allergan's Restasis patents

Mylan (MYL) announced that the United States District Court for the Eastern District of Texas has issued a 135-page decision finding all asserted claims of the patents relating to Restasis invalid based on obviousness. The Ccurt, recognizing that Allergan's (AGN) patent protection for Restasis ended in 2014, concluded that "Allergan is not entitled to renewed patent rights for Restasis in the form of a second wave of patent protection." The invalidated patents are United States Patent Numbers 8,629,111; 8,648,048; 8,685,930 and 9,248,191. Mylan received a covenant not to sue on the remaining two Orange Book patents, U.S. Patent Numbers 8,633,162 and 8,642,556, shortly before the trial began. The Court's decision also will be binding against the Saint Regis Mohawk Tribe, which the Court added to the lawsuit. In ultimately allowing the Tribe to join the lawsuit, the Court expressed its concerns that "sovereign immunity should not be treated as a monetizable commodity that can be purchased by private entities as part of a scheme to evade their legal responsibilities. It is not an inexhaustible asset that can be sold to any party that might find it convenient to purchase immunity from suit. Because that is in essence is what the agreement between Allergan and the Tribe does, the Court has serious reservations about whether the contract between Allergan and the Tribe should be recognized as valid, rather than being held void as being contrary to public policy." Mylan CEO Heather Bresch commented, "We couldn't be more pleased with today's federal court ruling invalidating the Restasis patents. For decades, our investments and perseverance continue to pay off as we have led the charge in challenging the unnecessary roadblocks often put up by brand pharmaceutical companies, whether it's through the regulatory pathway or around its intellectual property, which often delay access to affordable generic medicines to patients."

MYL

Mylan

$38.18

0.23 (0.61%)

AGN

Allergan

$198.41

-7.11 (-3.46%)

  • 17

    Oct

  • 20

    Oct

  • 23

    Oct

  • 01

    Nov

  • 06

    Nov

  • 03

    Dec

MYL Mylan
$38.18

0.23 (0.61%)

10/16/17
WELS
10/16/17
NO CHANGE
WELS
Outperform
Court ruling looks 'clearly negative' for Allergan, says Wells Fargo
Wells Fargo analyst David Maris says a federal judge ruling today that Allergan's (AGN) Restasis patents are invalid "appears clearly negative" for the company. Due to the magnitude of the potential damages involved, however, an at-risk generic launch is unlikely, Maris tells investors in an intraday research note. As such, the analyst continues to believe the earliest that a generic version of Restasis may enter the market is sometime in 2019. Maris keeps an Outperform rating on Allergan. He adds that today's court ruling is incrementally positive for generic Restasis filers, if approved, including Teva (TEVA), Mylan ( MYL) and Akorn (AKRN).
10/13/17
WELS
10/13/17
NO CHANGE
Target $276
WELS
Outperform
Allergan settlement leaves three Restasis challengers, say Wells Fargo
Wells Fargo analyst David Maris says three Restasis generic challengers remain after Allergan (AGN) reached a settlement with InnoPharma. The settlement, which allows InnoPharma to launch a generic Restasis in the U.S. beginning February 24, 2024, or six months before the expiration of Allergan's patents, points to the complexity of Restasis and the difficulty of getting a generic version approved, Maris tells investors in a research note. InnoPharma was one of four included in a consolidated lawsuit against Allergan, with Teva (TEVA), Mylan (MYL) and Akorn (AKRX) remaining, Maris points out. He's encouraged that the settlement date reached with InnoPharma is close to the expiration date of the patents. The analyst keeps an Outperform rating on Allergan with a $276 price target.
10/05/17
GSCO
10/05/17
NO CHANGE
Target $14
GSCO
Neutral
Momenta price target cut to $14 following Mylan gCopaxone approval at Goldman
Goldman analyst Dana Flanders lowered Momenta (MNTA) estimates and cut its price target on share to $14 from $18 following Mylan's (MYL) generic Copaxone approval. The analyst maintained a Neutral rating on Momenta given uncertainties on how the gCopaxone market will play out and lack of near-term pipeline catalysts.
10/05/17
UBSW
10/05/17
NO CHANGE
Target $46
UBSW
Buy
Mylan Copaxone approval to put upward pressure on consensus estimates, says UBS
UBS analyst Marc Goodman noted the approval for Mylan's generic Copaxone has taken such a long time that many analysts did not have its approval in their earnings model. As a result, the approval is a positive and will put upward pressure on consensus numbers. It will also help the credibility of management around its ability to get high barrier-to-entry products approved. The analyst has these high barrier approvals as part of his thesis and said Mylan remains his favorite generic name. Goodman reiterated his Buy rating and $46 price target on Mylan shares.
AGN Allergan
$198.41

-7.11 (-3.46%)

10/16/17
JPMS
10/16/17
NO CHANGE
JPMS
Overweight
JPMorgan says generic Restasis risk already 'well reflected' in Allergan shares
After a judge ruled Allergan's Restasis patents are invalid, JPMorgan analyst Chris Schott said the news "clearly represents a setback" but he also believes the financial risk of generic Restasis competition is already "well reflected" in the stock. Given that, the news could represent a "clearing event," added Schott, who keeps an Overweight rating on Allergan.
10/16/17
COWN
10/16/17
NO CHANGE
COWN
Outperform
Cowen says Allergan investors may now 'move past' Restasis patent loss
After an adverse ruling from a federal court on Allergan's patents for Restasis, Cowen analyst Ken Cacciatore believes that it is fair to assume generics beginning in early 2019. While this had long been feared, it also had long been modeled by many, including Cacciatore, who called the news a "clearing event" that investors will now likely "finally be able to move past." The analyst, who said Allergan's growth beyond an assumed 2019 Restasis generic "looks as solid as any in the biopharmaceutical industry," keeps an Outperform rating on the stock.

TODAY'S FREE FLY STORIES

T

AT&T

$34.25

-0.08 (-0.23%)

, TWX

Time Warner

$89.74

0.18 (0.20%)

09:53
11/22/17
11/22
09:53
11/22/17
09:53
Conference/Events
FBN Securities strategist to hold an analyst/industry conference call »

FBN Securities…

T

AT&T

$34.25

-0.08 (-0.23%)

TWX

Time Warner

$89.74

0.18 (0.20%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Nov

CUB

Cubic

$62.00

1.25 (2.06%)

09:52
11/22/17
11/22
09:52
11/22/17
09:52
Technical Analysis
Technical View: Cubic up on mobile ticketing contract win for Rhein-Sieg area »

The stock was last up…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Nov

SAN

Banco Santander

$6.49

0.09 (1.41%)

09:50
11/22/17
11/22
09:50
11/22/17
09:50
Options
Santander Mar 7 calls active at the opening bell Wednesday »

Santander Mar 7 calls…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

XXII

22nd Century

$2.31

-0.0094 (-0.41%)

09:46
11/22/17
11/22
09:46
11/22/17
09:46
Hot Stocks
22nd Century to discontinue U.S. sales of RED SUN brand cigarettes »

22nd Century Group…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

09:45
11/22/17
11/22
09:45
11/22/17
09:45
General news
Consumer Sentiment Index to be reported at 10:00 »

Consumer Sentiment Index…

SAN

Banco Santander

, GME

GameStop

09:40
11/22/17
11/22
09:40
11/22/17
09:40
Options
Unusually active option classes on open November 22nd »

Unusual total active…

SAN

Banco Santander

GME

GameStop

HPE

HP Enterprise

HPQ

HP Inc.

CRM

Salesforce

SWKS

Skyworks

$110.25

0.46 (0.42%)

LRCX

Lam Research

$218.91

3.81 (1.77%)

SBUX

Starbucks

$57.26

0.45 (0.79%)

BIDU

Baidu

$244.30

5.76 (2.41%)

AMAT

Applied Materials

$58.80

1.18 (2.05%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Nov

  • 27

    Nov

  • 28

    Nov

  • 28

    Nov

  • 29

    Nov

  • 11

    Dec

  • 25

    Jan

XLE

Energy Select Sector SPDR

09:40
11/22/17
11/22
09:40
11/22/17
09:40
Technical Analysis
Technical View: Energy Select Sector SPDR leads index on the upside »

The Energy Select Sector…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

LOW

Lowe's

, HD

Home Depot

09:37
11/22/17
11/22
09:37
11/22/17
09:37
Recommendations
Lowe's, Home Depot analyst commentary  »

Lowe's price target…

LOW

Lowe's

HD

Home Depot

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 20

    Feb

09:35
11/22/17
11/22
09:35
11/22/17
09:35
General news
U. Michigan sentiment preview: »

U. Michigan sentiment…

CHFS

CHF Solutions

$7.88

-0.24 (-2.96%)

09:31
11/22/17
11/22
09:31
11/22/17
09:31
Syndicate
CHF Solutions announces $18M public offering »

CHF Solutions announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MTL

Mechel

09:31
11/22/17
11/22
09:31
11/22/17
09:31
Hot Stocks
Mechel announces reversal of Court decision »

Mechel reports a court…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

09:30
11/22/17
11/22
09:30
11/22/17
09:30
General news
The U.S. durables report undershot estimates »

The U.S. durables report…

09:30
11/22/17
11/22
09:30
11/22/17
09:30
General news
Breaking General news story  »

Week of 11/19 Bloomberg…

SNPS

Synopsys

$89.38

0.48 (0.54%)

09:29
11/22/17
11/22
09:29
11/22/17
09:29
Recommendations
Synopsys analyst commentary  »

Synopsys price target…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

AQUA

Evoqua Water

09:26
11/22/17
11/22
09:26
11/22/17
09:26
Hot Stocks
Evoqua Water names Dan Brailer head of investor relations »

Evoqua Water announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ROK

Rockwell Automation

, EMR

Emerson

09:26
11/22/17
11/22
09:26
11/22/17
09:26
Recommendations
Rockwell Automation, Emerson analyst commentary  »

Latest Rockwell rebuff…

ROK

Rockwell Automation

EMR

Emerson

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

09:25
11/22/17
11/22
09:25
11/22/17
09:25
General news
Fed funds futures are slightly firmer toward the back end of the curve »

Fed funds futures are…

PBYI

Puma Biotechnology

$104.90

0.85 (0.82%)

09:24
11/22/17
11/22
09:24
11/22/17
09:24
Hot Stocks
Puma Biotechnology, Specialised Therapeutics Asia enter licensing agreement »

Puma Biotechnology and…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

HPE

HP Enterprise

09:22
11/22/17
11/22
09:22
11/22/17
09:22
Hot Stocks
Whitman 'definitively' says not running for President or any other office »

Meg Whitman, speaking in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Nov

  • 11

    Dec

PG

Procter & Gamble

09:22
11/22/17
11/22
09:22
11/22/17
09:22
Hot Stocks
Trian comments on Procter & Gamble's contest to voting tabulation »

Trian Fund Management,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

DE

Deere

, SFL

Ship Finance

09:22
11/22/17
11/22
09:22
11/22/17
09:22
Hot Stocks
On The Fly: Pre-market Movers »

UP AFTER EARNINGS: Deere…

DE

Deere

SFL

Ship Finance

EMR

Emerson

ROK

Rockwell Automation

FRO

Frontline

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Nov

  • 22

    Nov

  • 28

    Nov

SIG

Signet Jewelers

09:22
11/22/17
11/22
09:22
11/22/17
09:22
Recommendations
Signet Jewelers analyst commentary  »

Signet Jewelers price…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Dec

  • 08

    Dec

WWE

WWE

09:20
11/22/17
11/22
09:20
11/22/17
09:20
Conference/Events
WWE management to meet with MKM Partners »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Nov

  • 28

    Nov

HPE

HP Enterprise

09:19
11/22/17
11/22
09:19
11/22/17
09:19
Hot Stocks
Whitman says 'probably have more confidence' now in previously issued guidance »

HP Enterprise CEO Meg…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Nov

  • 11

    Dec

SPX

S&P 500

, VIX

Volatility Index S&P 500 Options

09:18
11/22/17
11/22
09:18
11/22/17
09:18
Options
Overnight activity included 57 trades in SPX and 19 trades in VIX »

57 trades were executed…

SPX

S&P 500

VIX

Volatility Index S&P 500 Options

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.