A day after Teva Pharmaceuticals (TEVA) broke out of a base, fellow drugmaker Amgen (AMGN) is clearing a buy point. Amgen reports second quarter results after the close on Thursday. Earnings are projected to rise 3%, a slowdown from the first quarter’s 33% growth. The stock climbed in big volume in the stock market today, clearing an early buy point of 165.50. Amgen is also nearing a conventional buy point of 173.70. It’s currently trading about
Israeli drug giant Teva Pharmaceutical Industries (TEVA) dropped its hostile bid for Mylan (MYL) and instead agreed to buy the global generic-drug business of Allergan (AGN) Monday. Teva’s and Allergan’s stocks both jumped, while Mylan’s plunged. Teva agreed to pay $33.75 billion in cash and $6.75 billion in stock for Allergan’s Actavis business, with Allergan retaining 50% of the future money from Teva’s generic lenalidomide, better known as
Teva Pharmaceutical (TEVA) confirmed reports Monday that it will buy Allergan’s (AGN) generic drugs business for $40.5 billion and dropped its hostile takeover bid for Mylan Pharmaceuticals (MYL). Under the deal, Teva will pay $33.75 billion in cash and $6.75 billion in shares. The deal is expected to close in Q1 2016. Teva said the buyout will boost adjusted earnings per share by double-digits in 2016. The deal will allow Allergan to focus on its