IMS Health (RX) recently agreed to its acquisition by investment funds managed by TPG Capital (TPG) and the Canada Pension Plan Investment Board (CPPIB) for a total value of $5.2 billion.

The Board of Directors approved the decision based on the Transaction Committee recommendation, which was set up to review IMS’ strategic alternatives. Following the agreement, IMS shareholders will receive $22 cash for each share of IMS stock they own. The transaction is likely to be completed by the first quarter of 2010.

The transaction will be financed by a combination of equity to be invested by TPG and CPPIB and debt financing to be provided by Goldman Sachs & Co., including its principal loan and mezzanine funds.

Earlier, in October, IMS announced that it is exploring several strategic alternatives. While details were not provided, we believed that the company was seeking a buyer. During the third quarterly results, IMS recorded a

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Recently, Mylan Inc.‘s (MYL) subsidiary, Matrix Laboratories received final approval from the US Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Lansoprazole Delayed-release (DR) capsules in two dosage forms (15 mg and 30 mg). Mylan plans to begin shipment of the product immediately.  The drug is the generic version of Takeda Pharmaceuticals' (TKPHY.PK) proton pump inhibitor Prevacid DR Capsules. According to IMS Health (RX), the branded version had US sales of approximately $3 billion for the 12 months ending June 30.  Mylan received quite a few approvals in the recent past. In October, Mylan settled its dispute with Pfizer (PFE) related to the patent of antifungal drug Vfend (voriconazole), following which Mylan received the approval to launch the generic version of the drug. Additionally, in September, Mylan received FDA approval for its generic version of Bristol-Myers Squibb's (BMY) Sinemet ...

The pharmaceutical industry has witnessed major changes in 2009. Performance has been affected by factors like sluggish prescription trends, intensifying generic competition and limited phase III catalysts. The next five years are expected to reflect a significant imbalance between new product introductions and patent losses. According to IMS Health (RX), this is the main reason why global pharmaceutical market growth will be restricted to the mid-single digits through 2013. Over the next five years, products that currently generate about $137 billion in sales are expected to face generic competition, including Lipitor, Plavix and Seretide. At the same time, new products are not expected to generate the same level of sales as the products losing patent protection have. With most of the big pharma companies already facing patent challenges for their blockbuster products or likely to face them going forward, the companies have been looking toward mergers ...

Mylan, Inc. (MYL) reported third quarter earnings per share of 32 cents, above both the Zacks Consensus Estimate of 27 cents and 23 cents in the prior-year period. The company reported revenues of $1.26 billion, a 24% decline from the year-ago period. However, the year-ago period included $455 million of revenue related to the sale of the product rights of Bystolic. Excluding this, total revenues increased 5.2% over the third quarter 2008. Revenues would have increased 9%, but for the unfavorable movement of foreign currency. From this quarter onwards, Mylan has decided to report its results in two segments -- Generics and Specialty -- following the acquisition of approximately 24% of the remaining interest in Matrix and the related de-listing. The former Matrix segment has been included in the Generics segment. The Generics Segment, accounting for about 88% of total revenues during the quarter, increased marginally ...

Recently, Mylan (MYL) announced the settlement of its dispute with Pfizer (PFE) related to the patent of antifungal drug Vfend (voriconazole). Now Mylan can launch an authorized generic version of the drug in two dosage forms of 50 mg and 200 mg tablets in early 2011. Mylan’s subsidiary, Matrix Laboratories, has Food and Drug Administration (FDA) approval for the generic version of the drug. Being the first company to submit an Abbreviated New Drug Application (ANDA), Matrix expects to be eligible to receive 180 days of marketing exclusivity for the drug. However, the agreement does not include liquid or intravenous versions of Vfend. The agreement has yet to be approved by the US Department of Justice and the Federal Trade Commission. Vfend recorded sales of $164 million in the 12 months ended June 30. Mylan received quite a few approvals in the past few ...

Recently, Nektar Therapeutics (NKTR) presented data from its phase II trial of oral NKTR-118, meant for the treatment of opioid-induced constipation. The data was presented at the American Academy of Pain Management's 20th Annual Clinical Meeting in Phoenix, AZ. The drug met the primary endpoint of increase in spontaneous bowel movement over the baseline period along with no reduction of opioid-mediated analgesia in any dose groups. In addition, NKTR-118 was well tolerated, the common side effects being dose-dependent gastrointestinal-related effects. In September, AstraZeneca (AZN) had entered into a licensing deal with Nektar Therapeutics for two of its pipeline candidates, NKTR-118 and NKTR-119. While the former is a phase II trial candidate, the latter, in its early stage of development, is intended to treat pain without constipation as a side effect. We believe the deal will be beneficial to both the companies. In addition to receiving ...

Recently, AstraZeneca (AZN) entered into a licensing deal with Nektar Therapeutics (NKTR) for two of its pipeline candidates, NKTR-118 and NKTR-119. With the former having completed a phase II trial for the treatment of opioid-induced constipation, the latter, in early stage of development, is intended to treat pain without constipation side effects. Nektar will receive an upfront payment of $125 million for both the candidates. In addition, for NKTR-118, Nektar has the potential to receive $235 million of milestone payments on achieving certain regulatory milestones, as well as additional tiered sales milestone payments of up to $375 million if the drug succeeds in recording strong sales. The company will also receive double-digit royalty payments on global sales of the drug. For NKTR-119, Nektar is also supposed to receive milestone and royalty payments. Per the deal, AstraZeneca will carry on the development of both the ...

Yesterday, AstraZeneca (AZN) entered into a licensing deal with Nektar Therapeutics (NKTR) for two of its pipeline candidates, NKTR-118 and NKTR-119. With the former having completed a phase II trial for the treatment of opioid-induced constipation, the latter, in early stage of development, is intended to treat pain without constipation side effects. Nektar will receive an upfront payment of $125 million for both the candidates. In addition, for NKTR-118, Nektar has the potential to receive $235 million of milestone payments on achieving certain regulatory milestones, as well as additional tiered sales milestone payments of up to $375 million if the drug succeeds in recording strong sales. The company will also receive double-digit royalty payments on global sales of the drug. For NKTR-119, Nektar is also supposed to receive milestone and royalty payments. Per the deal, AstraZeneca will carry on the development of both the drugs ...

Yesterday, ISTA Pharmaceuticals Inc. (ISTA) announced that the U.S. Food and Drug Administration (FDA) approved its drug candidate, Bepreve, for the treatment of ocular itching associated with allergic conjunctivitis in patients two years and above. The drug is approved as a twice-daily prescription eye drop treatment. ISTA filed the New Drug Application for the drug (bepotastine ophthalmic solution) on Nov 13, 2008.  As a reminder, the advisory committee of the FDA had recommended the drug in June. The seven-member panel had voted unanimously in favor of Bepreve after reviewing comprehensive safety and efficacy data from ISTA's clinical program.  Bepreve is expected to be available to ophthalmologists and patients in the United States in the fourth quarter of 2009. The company, which expects to recognize revenues from the drug from this year, is expanding its sales force for this purpose.  ISTA has three drugs on the ...

 

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Bristol-Myers Squibb Co. (NYSE: BMY) completed its $2.1 billion acquisition of Medarex Inc., a biotech drugmaker developing treatments for immune system diseases and cancer.

Mylan Inc. (Nasdaq: MYL) is selling version of Sepracor’s Xopenex with 180-day marketing exclusivity. According to IMS Health, sales of inhalable Xopenex were $18.3 million over

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