Backing Out of the Synageva BioPharma Deal, Part 3
Things like acts of war and natural disasters aren’t MACS unless they disproportionately affect Synageva relative to other early-clinical-stage biopharmaceutical companies.
Merger must-knows: The shareholder vote and 90% tender condition
Once the SEC approves the proxy, a vote is scheduled. Usually, the last condition for a deal is the vote of the target shareholders.
The Salix–Valeant merger: Basics of Salix Pharmaceuticals
Xifaxin is by far Salix’s largest product, accounting for ~70% of its revenues in 2013. Xifaxin is a big reason for the Salix–Valeant merger transaction.
Key Factors That Impact Johnson & Johnson’s Forward Valuation
Two factors expected to impact Johnson & Johnson’s forward valuation are increasing competition for Olysio and further decline in international revenues.
Alternative ETFs’ Investment Strategy Guide
A liquid alternative ETF, the ProShares Large Cap Core Plus ETF (CSM) tracks a long-short index of Credit Suisse 130/30.
Parsing the Salix–Valeant merger MAC clause: Part 1
In the deal between Salix Pharmaceuticals and Valeant, the MAC clause lays out the circumstances under which Valeant can back out of its deal with Salix.
Parsing the Salix–Valeant merger MAC clause: Part 2
Pretty much anything that has a material adverse effect on the company will be considered a MAC, but there will be exceptions to that rule.
The Pharmacyclics–AbbVie Merger: The Basics of AbbVie
A major reason for the Pharmacyclics–AbbVie merger is to diversify AbbVie away from its reliance on a single product, Humira, and boost its pipeline.
The Freescale–NXP merger: A large deal in the semiconductor space
The key to the Freescale–NXP merger is the timing. The companies are guiding to a 2H15 close, likely in the fourth quarter.
The Freescale–NXP Merger: Freescale at a glance
The Freescale–NXP merger is driven by complementary offerings. Freescale is active in the auto, consumer, networking, and industrial markets.
Is the Cigna-Anthem Merger a Setup?
Cigna has been put ‘in play,’ which means other buyers will be taking a look. The spread is wide, but there are major unanswered questions. It makes sense to give this one a wide berth.
Anthem Files Bear Hug Letter for Cigna on June 21
On June 21, Anthem (ANTM) filed a bear hug letter for Cigna (CI). A bear hug letter is a formal press release in which an acquiring company discloses its interest in a target company.
Central Nervous System Is Key to Teva’s Specialty Medicines
Revenues for Teva’s (TEVA) Specialty Medicines segment grew by 2.1% to $8,560 million in 2014, from $8,388 million in 2013.
The Salix–Valeant merger MAC clause: Part 3
If these carve-outs affect Salix in a disproportionate way compared to other pharma companies, then it is still a MAC and Valeant can back out of the deal.
More on the Baker Hughes and Halliburton merger MAC clause
This article further discusses the MAC clause in the Baker Hughes and Halliburton merger agreement.
Examining the SPY ETF and how US Stocks Performed in 2015
As we enter 2016, let’s review how Wall Street and US stocks, represented here by the SPDR S&P 500 ETF (SPY), responded to global events throughout 2015.
How are XLV’s Moving Averages Trending?
Out of 56 stocks in XLV’s portfolio, a total of 32 stocks were trading above their 20-day moving average.
Biotechnology Traded below Moving Averages in Last Week of August
Biotechnology and pharmaceuticals are the two largest subgroups of XLV. In the biotechnology subgroup, 100% of the stocks are trading below their 20-day, 50-day, and 100-day moving averages.
The Biotech Sector Is in a Downward Long-Term Trend
Though most of the biotech stocks rebounded from the recent lows, the long-term trend for biotech seems to be heading downward.
Teva’s Debt Levels – Best among Competitors
In terms of debt-to-EBITDA, Teva is well placed at 2.0x–2.5x to maintain a low credit risk. This will allow Teva to use debt for acquisitions and growth.
3 Key Therapeutic Segments Drive Branded Revenues
Actavis’s North American Brands segment revenue increased significantly by 336% year-over-year to $4,631.4 million in 2014 from $1,062.5 million in 2013.
What’s Supporting Continued Growth in the Generics Market?
The global generics market was valued at $168 billion in 2013. From 2013 to 2018, it’s expected to grow at a CAGR of 11% to reach $283 billion.
Complex Generics Are Attractive Due to High Margins
Complex generics are large and complex formulations or active ingredients used to treat chronic and life threatening diseases like cancer, Hepatitis C, and HIV.
Specialty Generics: Why Are They Getting More Attention?
There are two categories of specialty generics – NTE (New Therapeutic Entities) and Complex Generics. In this part of the series, we’ll discuss NTE.
Don’t trade the Office Depot spread like a typical arb spread
Once the proxy comes out, check the transaction background and see if they ran an auction. If not, a private equity buyer may step in after the deal breaks.
Handicapping the risk-reward balance of the Office Depot deal
Staples stock was up on the announcement, and the analyst community understands the pressure this segment is under. At any rate, no Staples vote is needed.
Hospira–Pfizer merger: Benefits from growing biosimilars market
One of the major drivers for the Hospira–Pfizer transaction is the expected growth of the sterile injectables and biosimilar markets.