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BioTech Stock News in Video : Valeant (NYSE:VRX) vs Allergan (NYSE:AGN) Takeover Battle, Medtronic (NYSE:MDT) + Covidien (NYSE:COV) $45 Billion Deal in Video + GMO Experiments

A source familiar with the matter said on Saturday, Medical-device maker Medtronic Inc and rival Covidien, are in advanced talks to combine in a deal valued at $45 billion to $50 billion. The person said, asking not to be named because the matter is not public, the deal, which would allow Medtronic to be domiciled in Ireland where Covidien is based and thus take advantage of lower tax rates, could come as soon as Monday. Minneapolis-based Medtronic, which makes cardiovascular and orthopedic devices, has a market value of about $61 billion.

An executive vice-president of Valeant Pharmaceuticals International Inc will leave the company, even as the Canadian drugmaker fends off criticism about management turnover from its takeover target Allergan Inc . Valeant confirmed late on Friday after inquiries by Reuters, Executive vice-president and company group chairman Ryan Weldon will leave. Like Chief Executive Mike Pearson, Weldon previously worked for management consulting firm McKinsey & Co. Valeant said Weldon’s departure was planned, and takes effect after it completes a $1.4 billion sale of several injectable treatments to Nestle SA.

Before residents in southern Oregon overwhelmingly voted to ban genetically modified crops last month, farmers negotiated for months with a biotech company that grows engineered sugar beets near their fields. Their goal was to set up a system to peacefully coexist, an online mapping database of fields to help growers minimize cross-pollination between engineered and non-engineered crops. But the effort between farmers and Swiss company Syngenta failed, leading to the ban. Last October, Oregon Gov. John Kitzhaber directed the state’s Department of Agriculture to undertake something far more ambitious than that failed mapping effort — map GMO field locations across the entire state and establish buffer zones and exclusion areas for GE crops.

Continue reading “BioTech Stock News in Video : Valeant (NYSE:VRX) vs Allergan (NYSE:AGN) Takeover Battle, Medtronic (NYSE:MDT) + Covidien (NYSE:COV) $45 Billion Deal in Video + GMO Experiments”

Peregrine Pharmaceuticals (NASDAQ:PPHM) Up 20% to 19-Month High; Agenus (NASDAQ:AGEN) Soars

Peregrine Pharmaceuticals (NASDAQ:PPHM) is up nearly 20% and reached a 19-month high after the biopharmaceutical company said Wednesday that it will present data from three preclinical studies highlighting the immuno-oncology and anti-viral potential of phosphatidylserine (PS)-targeting antibodies. Results will be presented at two upcoming Keystone Symposia to be held March 9-13. Shares of Peregrine (NASDAQ:PPHM) are at $2.29, and earlier touched $2.37 – its highest price … Continue reading Peregrine Pharmaceuticals (NASDAQ:PPHM) Up 20% to 19-Month High; Agenus (NASDAQ:AGEN) Soars

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Biotech Stock in News: The Medicines Co.’s Angiomax Gets Favorable Court Ruling

The Medicines Co (MDCO) announced that the U.S. District Court for the Northern District of Illinois has ruled in its favor in a patent infringement lawsuit against Mylan, Inc (MYL). Mylan was looking to get its generic version of The Medicines Co.’s Angiomax (European trade name: Angiox) approved in the U.S. The Medicines Co. stated that the Court declared its patent claims 1-3, 7-10 and … Continue reading Biotech Stock in News: The Medicines Co.’s Angiomax Gets Favorable Court Ruling

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Biotech Stock News: Biogen Falls on Concerns Regarding Tecfidera Sales

Despite posting better-than-expected earnings, Biogen Idec’s (BIIB) shares fell 5.4% immediately after the release of third quarter results. Although shares recovered slightly in the subsequent trading session, the overall decline is approximately 3.3% since the announcement of third quarter results. The decline in share price reflects concerns regarding the growth prospects of Biogen’s oral multiple sclerosis (MS) treatment, Tecfidera. Tecfidera, approved in the U.S. in … Continue reading Biotech Stock News: Biogen Falls on Concerns Regarding Tecfidera Sales

Top Biotech Stock News: Biogen’s Q3 Earnings Top Estimates

Biogen Idec (BIIB) reported third quarter 2014 earnings per share of $3.79 (including the impact of stock-based compensation expense), way above the Consensus Estimate of $3.22 and the year-ago earnings of $2.34 per share. Third quarter 2014 revenues increased 37% to $2.5 billion, topping the Consensus Estimate of $2.4 billion. Including one-time items, third quarter 2014 earnings increased 77% to $3.62 per share. Third quarter … Continue reading Top Biotech Stock News: Biogen’s Q3 Earnings Top Estimates

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Biotech Stock News: Amgen Looks Upbeat, Beats on Q3 Earnings & Revenues

Amgen (AMGN) reported third quarter 2014 earnings of $2.30 per share, well above the Consensus Estimate of $2.06 and the year-ago earnings of $1.93. Earnings were driven by higher revenues and higher profitability on Enbrel. Total revenues increased 6% to $5,031 million in the third quarter of 2014, beating the Consensus Estimate of $4,918 million. Including one-time items, third quarter earnings declined 10% to $1.61 … Continue reading Biotech Stock News: Amgen Looks Upbeat, Beats on Q3 Earnings & Revenues