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VRX

Ticker changed BHC

$18.02

-0.3 (-1.64%)

, MYL

Mylan

$36.77

-2.01 (-5.18%)

20:05
05/02/18
05/02
20:05
05/02/18
20:05

New Jersey court grants motion for partial summary judgment in RELISTOR patent

Valeant Pharmaceuticals announced that the U.S. District Court for the District of New Jersey has granted a motion for partial summary judgment of validity of a formulation patent for RELISTOR Injection. The ruling prevents generic competition in the United States until 2024. Plaintiffs in the case, including Progenics Pharmaceuticals (PGNX), Salix Pharmaceuticals, Inc., Valeant (VRX) and Wyeth LLC, had filed a motion for summary judgment on challenges to the validity of Claim 8 of U.S. Patent No. 8,552,025, which protects the formulation of RELISTOR Injection. Defendants in the case, which include Mylan Inc (MYL)., Mylan Laboratories LTD., Mylan Pharmaceuticals, Inc. and Actavis LLC., had previously stipulated to infringement of Claim 8 and have no remaining invalidity defenses. In the upcoming trial on June 4, the court will decide the infringement and validity of other patents that could prevent generic RELISTOR vials until 2029 and generic RELISTOR syringes until 2030. Valeant will continue to vigorously defend its intellectual property in these and other claims.

VRX

Ticker changed BHC

$18.02

-0.3 (-1.64%)

MYL

Mylan

$36.77

-2.01 (-5.18%)

PGNX

Progenics

$6.68

0.09 (1.37%)

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VRX Ticker changed BHC
$18.02

-0.3 (-1.64%)

04/30/18
DBAB
04/30/18
NO CHANGE
Target $22
DBAB
Buy
Deutsche raises Valeant price target on extended Xifaxan exclusivity
The stay in the Xifaxan litigation between Valeant Pharmaceuticals (VRX) and Teva (TEVA) was recently extended to July 30, 2018 from April 30, 2018, and may be extended further, Deutsche Bank analyst Gregg Gilbert tells investors in an intraday research note. According to the court docket, the companies agreed to extend the stay "because the facts and circumstances that warranted a stay as of May 15, 2017 have not materially changed," Gilbert adds. He previously modeled Xifaxan exclusivity through 2024, but pushed that out one more year saying Teva "does not yet appear to have clarity on the path forward for its generic filing." The exclusivity extension to 2025 on Valeant's largest product pushes the analyst's price target for the shares to $22 from $20. The stock in midday trading is up 19c to $18.26. Gilbert looks forward to an update from Teva when the company reports on May 3 and continues to like the risk/reward for Valeant. He keeps a Buy rating on the shares.
04/30/18
DBAB
04/30/18
NO CHANGE
Target $22
DBAB
Buy
Valeant price target raised to $22 from $20 at Deutsche Bank
Deutsche Bank analyst Gregg Gilbert raised his price target for Valeant Pharmaceuticals to $22 and keeps a Buy rating on the shares.
04/12/18
WELS
04/12/18
NO CHANGE
WELS
Market Perform
Wells says suit against Salix may have been filed by Mallinckrodt whistleblower
Wells Fargo analyst David Maris said he found reference to a lawsuit filed by a Rasivinder Dhaliwal against Salix Pharmaceuticals in January 2015, thought he has not been able to confirm that this Rasivinder Dhaliwal is the same one who filed a recent whistleblower lawsuit against Mallinckrodt (MNK). Maris previously stated in a note to investors earlier today that Mallinckrodt strongly disagrees with the allegations, believes the suit is baseless, and plans to defend itself vigorously. The Fly notes that Valeant (VRX) acquired Salix in 2015.
04/06/18
04/06/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Valeant (VRX) upgraded to Neutral from Underperform at Mizuho with analyst Irina Koffler saying while she remains concerned about Valeant's return to revenue growth, sees no near-term "sell catalysts." 2. Patterson Companies (PDCO) upgraded to Buy from Hold at Craig-Hallum with analyst Kevin Ellich saying that his sum-of-parts analysis suggests the company could unlock value by splitting its dental and animal health businesses. 3. Prologis (PLD) and AvalonBay (AVB) were upgraded to Buy from Neutral at Citi. 4. Universal Display (OLED) upgraded to Outperform from Perform at Oppenheimer with analyst Andrew Uerkwitz saying with the shares down 41% year-to-date, the stock is oversold and the risks are fully priced in. 5. Halyard Health (HYH) upgraded to Overweight from Sector Weight at KeyBanc with analyst Matthew Mishan saying he sees the company's earnings growth accelerating and valuation re-rating following the sale of its Surgical & Infection Prevention unit. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MYL Mylan
$36.77

-2.01 (-5.18%)

04/19/18
WELS
04/19/18
NO CHANGE
WELS
Wells says bottom has not been reached in generics pricing
After Aceto (ACET) cited the continued intense competitive and pricing pressures in the generic industry when withdrawing its guidance last night, and Novartis (NVS) this morning reported that net sales at its generic unit Sandoz dropped 4% in the quarter, Wells Fargo analyst Davis Maris says he's not ready to call the bottom in generics pricing. Those that have are premature, Maris tells investors in a research note titled "Negative Read Throughs For Generics Continue." The Aceto and Sandoz pricing news shows the data continue to be negative for U.S. generic industry pricing, the analyst contends. He sees a negative read-through for companies with large U.S. commodity generic exposure, such as Teva (TEVA) and Mylan (MYL).
04/18/18
LEHM
04/18/18
NO CHANGE
Target $230
LEHM
Overweight
Barclays sees 'significant challenges' for Botox biosimilar
Barclays analyst Douglas Tsao says that while he'd probably stop short of calling it "mission impossible," he sees "significant challenges" in the development of a biosimilar to Allergan's (AGN) Botox. Following a deep dive into the key issues Mylan (MYL) will likely face in developing a biosimilar Botox, the analyst and concluded that it seems "technically difficult and faces a long road ahead." Even a best case scenario puts timing out to 2023, Tsao tells investors in a research note. The analyst has an Overweight rating on Allergan with a $230 price target.
04/25/18
WELS
04/25/18
NO CHANGE
WELS
Market Perform
Glaxo comments on Advair have negative read through for Mylan, says Wells Fargo
Noting that GlaxoSmithKline (GSK) said it now expects branded Advair sales to decline 30% this year, even excluding the impact of a generic, Wells Fargo analyst David Maris said the news has a negative read through for Mylan (MYL) given that its generic Advair is one of the company's highest profile pipeline items. While Advair will be a good generic opportunity, it represents "a fraction of what some might have previously believed," said Maris, who has a Market Perform rating on Mylan shares.
04/23/18
WELS
04/23/18
NO CHANGE
WELS
Market Perform
Mylan layoffs will led to questions, says Wells Fargo
Wells Fargo analyst David Maris acknowledges press reports that Mylan is laying off approximately 500 employees, or approximately 15% of its employees in Morgantown, Virginia. Investors will have questions when Mylan reports Q1 results about the layoffs and what Mylan means about the need to make the Morgantown plant less complex, Maris tells investors in a research note. He keeps a Market Perform on Mylan shares.
PGNX Progenics
$6.68

0.09 (1.37%)

03/23/18
NEED
03/23/18
NO CHANGE
Target $14
NEED
Strong Buy
Needham still confident in Progenics approval despite PDUFA delay
The three month extension to Progenics' FDA action date is not related to the efficacy or safety data for Azdera, Needham analyst Chad Messer tells investors in a research note. The analyst remains confident in the drug's approval. He maintains a Strong Buy rating on the shares with a $14 price target.
07/12/17
CANT
07/12/17
INITIATION
Target $15
CANT
Overweight
Progenics initiated with an Overweight at Cantor
Cantor Fitzgerald analyst Mara Goldstein started Progenics Pharmaceuticals with an Overweight rating and $15 price target. The analyst views the expectations of both the company's clinical and commercial success as modest.

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PETQ

PetIQ

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FTV

Fortive

$74.86

-0.35 (-0.47%)

13:45
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Comcast

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13:43
11/12/18
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Comcast tells CNBC American Cable Association antitrust charge 'without merit' »

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13:40
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CMCSA

Comcast

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American Cable Association asks DOJ for investigation of Comcast-NBCU »

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GPS

Gap

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13:35
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Gap put volume heavy and directionally bearish »

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FOXA

21st Century Fox

$48.16

0.02 (0.04%)

, FOX

21st Century Fox

$47.72

(0.00%)

13:32
11/12/18
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13:32
Periodicals
Yankees plan to buy back YES Network from Fox, NY Post says »

The New York Yankees will…

FOXA

21st Century Fox

$48.16

0.02 (0.04%)

FOX

21st Century Fox

$47.72

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DIS

Disney

$116.91

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LLNW

Limelight Networks

$3.54

-0.16 (-4.32%)

, CMCSA

Comcast

$37.93

-0.41 (-1.07%)

13:32
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Hot Stocks
Limelight Networks adds NBCUniversal, CBS execs to board »

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LLNW

Limelight Networks

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CMCSA

Comcast

$37.93

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CMCSK

Comcast

$0.00

(0.00%)

CBS

CBS

$57.40

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PIR

Pier 1 Imports

$1.59

-0.06 (-3.64%)

13:27
11/12/18
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13:27
Downgrade
Pier 1 Imports rating change  »

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13:25
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Conference/Events
Cowen integrated oil analyst to hold an analyst/industry conference call »

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SPY

SPDR S&P 500 ETF Trust

$273.42

-4.5 (-1.62%)

, SPX

S&P 500

$0.00

(0.00%)

13:23
11/12/18
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13:23
General news
Trump 'hopes' Saudi Arabia, OPEC will not cut oil production »

President Donald Trump…

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SPDR S&P 500 ETF Trust

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FB

Facebook

$141.20

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13:20
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Facebook experiencing service issues »

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F

Ford

$9.53

0.15 (1.60%)

13:20
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$NSD

NASDAQ Market Internals

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CMCSA

Comcast

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NYSE Market Internals

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PEP

PepsiCo

$117.77

0.25 (0.21%)

13:15
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PepsiCo put volume heavy and directionally bearish »

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DISCA

Discovery

$32.83

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13:08
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Discovery analyst commentary  »

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XBI

SPDR S&P BIOTECH

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13:00
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13:00
Options
Put spreads in SPDR S&P Biotech Fund as bearish positions are adjusted »

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SNAP

Snap

$6.68

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12:59
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Snap's VP of Content, Nick Bell, leaving today, Cheddar reports »

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LITE

Lumentum

$39.50

-16.45 (-29.40%)

, AAPL

Apple

$195.96

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12:57
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Recommendations
Lumentum, Apple analyst commentary  »

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AAPL

Apple

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HD

Home Depot

$183.19

-2.85 (-1.53%)

, TSN

Tyson Foods

$61.79

-0.3 (-0.48%)

12:52
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Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

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TSN

Tyson Foods

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AAP

Advance Auto Parts

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ARMK

Aramark

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DF

Dean Foods

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0.12 (2.01%)

12:50
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Dean Foods draws call buying after volatility in shares last week »

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AGR

Avangrid

$49.35

0.43 (0.88%)

, UNH

UnitedHealth

$273.75

-2.93 (-1.06%)

12:45
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12:45
Hot Stocks
Avangrid names Peter Church chief HR officer »

Avangrid (AGR) announced…

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Avangrid

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UNH

UnitedHealth

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