Corporate Statements, Supplemental New Drug Application, Financial Result, and Technical Update - Research Reports on Allergan, Salix, Medivation, Valeant and AstraZeneca
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NEW YORK, August 13, 2014 /PRNewswire/ --
Today, Analysts Review released its research reports regarding Allergan, Inc. (NYSE: AGN), Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP), Medivation Inc. (NASDAQ: MDVN), Valeant Pharmaceuticals Intl Inc. (NYSE: VRX) and AstraZeneca plc (NYSE: AZN). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/5701-100free.
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Allergan, Inc. Research Reports
On August 6, 2014, Allergan, Inc. (Allergan) issued a statement in response to reports by Institutional Shareholder Services (ISS) and Glass Lewis on Pershing Square Capital Management, L.P's (Pershing Square) solicitation to call a special meeting of Allergan's stockholders. An excerpt from the statement is as follows- "These recommendations do not change the fact that Valeant's offer is grossly inadequate, substantially undervalues Allergan, creates significant risks and uncertainties for Allergan stockholders and is not in the best interests of the Company and its stockholders." On April 22, 2014, the Company received an unsolicited proposal from Valeant Pharmaceuticals International, Inc. (Valeant) to acquire all of the outstanding shares of the Company for a combination of 0.83 of Valeant common shares and $48.30 in cash per share of common stock of the Company. The full research reports on Allergan are available to download free of charge at:
http://www.analystsreview.com/Aug-13-2014/AGN/report.pdf
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Salix Pharmaceuticals, Ltd. Research Reports
On August 11, 2014, Salix Pharmaceuticals, Ltd. (Salix) and Progenics Pharmaceuticals (Progenics) jointly announced that the Food and Drug Administration (FDA) has informed Salix that the supplemental New Drug Application (sNDA) for RELISTOR® (methylnaltrexone bromide) Subcutaneous Injection, 20 mg/ml, for the treatment of opioid-induced constipation (OIC) in patients taking opioids for chronic non-cancer pain has been assigned a user fee goal date of September 29, 2014. The Company informed that RELISTOR is a Peripherally Acting Mu Opioid Receptor Antagonist (PAMORA) specifically designed to block the constipating effects of opioids in the gastrointestinal tract. The full research reports on Salix are available to download free of charge at:
http://www.analystsreview.com/Aug-13-2014/SLXP/report.pdf
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Medivation Inc. Research Reports
On August 7, 2014, Medivation Inc. (Medivation) reported its Q2 2014 collaboration revenues of $148.09 million, up 111.1% YoY. According to the Company, during the quarter Medivation's collaboration revenue related to - U.S. net sales of XTANDI was $71.9 million; ex-U.S. net sales of XTANDI were $10.0 million; and upfront and development milestone payments of $66.2 million. The Company's Q2 2014 net income came in at $47.9 million or $0.60 per diluted share, compared to net loss of $4.9 million or $0.07 diluted loss per share in Q2 2013. Analysts polled by Thomson Reuters expected the Company to post Q2 2014 EPS of $0.24 per share on revenue of $125.6 million. The Company's H1 2014 collaboration revenue improved 102.3% YoY to $235.3 million, while net income stood at $34.3 million, compared to net loss of $32.1 million in H1 2013. For full-year 2014, the Company expects total collaboration revenue in the range of $615 million - $640 million. The full research reports on Medivation are available to download free of charge at:
http://www.analystsreview.com/Aug-13-2014/MDVN/report.pdf
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Valeant Pharmaceuticals Intl Inc. Research Reports
On August 6, 2014, Valeant Pharmaceuticals Intl Inc. (Valeant) and Pershing Square Capital Management, L.P. (Pershing Square) released their views on Institutional Shareholder Services' (ISS) recommendation in support of Pershing Square's effort to call a special meeting of Allergan shareholders. J. Michael Pearson, Valeant's Chairman and CEO, commented, "Our offer represents a significant premium to Allergan's unaffected stock price, and shareholders should have the right to determine for themselves whether they want to pursue this enormously value-creating transaction. Given the Allergan board's repeated refusal to engage in good faith negotiations with Valeant, their 'scorched earth' campaign of unjustified attacks on Valeant's business and their efforts to prevent Allergan shareholders from voicing their perspectives on our offer, we believe that the only path forward is to replace a majority of the Allergan board, remove Allergan's anti-shareholder governance provisions and allow investors the opportunity to decide the outcome of this transaction." On April 22, 2014, the Company submitted a merger proposal to the Board of Directors of Allergan Inc. (Allergan) in which each share of Allergan were proposed to be exchanged for $48.30 in cash and 0.83 shares of Valeant common stock, based on the fully diluted number of Allergan shares outstanding. The full research reports on Valeant are available to download free of charge at:
http://www.analystsreview.com/Aug-13-2014/VRX/report.pdf
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AstraZeneca plc Research Reports
On August 8, 2014, AstraZeneca plc's (AstraZeneca) stock declined 2.17% to end the trading session at $68.49, underperforming the S&P 500 that moved up 1.15% over the same trading session. AstraZeneca's stock opened the session at $69.57 and oscillated in the range of $67.48 - $69.77. Over the past six months, the stock has returned 7.42% largely in line with the S&P 500 that returned 7.49% over the same period of time. The full research reports on AstraZeneca are available to download free of charge at:
http://www.analystsreview.com/Aug-13-2014/AZN/report.pdf
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