Shares of Teva Pharmaceutical Industries (TEVA) abruptly rebounded Friday afternoon on reports that the drugmaker is thinking seriously about bidding for Mylan. Anonymous sources said Teva may or may not make an offer but is evaluating the idea and has approached advisers on the subject, Bloomberg reported. Most of Wall Street has been assuming that Teva was thinking about this at least since March 11, when rumors first emerged that Mylan (MYL)
Sandoz, the generics division of Novartis (NVS), and its biotech partner Momenta Pharmaceuticals won FDA approval on Thursday for the first generic version of popular multiple-sclerosis drug Copaxone. The FDA denied a citizens’ petition by Copaxone’s manufacturer, Teva Pharmaceutical Industries (TEVA), requesting further proof of the similarity and safety of any generic version of the drug. Momenta (MNTA) said in a press release that the generic
Both Mylan (MYL) and Perrigo continued to climb on the stock market Thursday as Wall Street analyzed and speculated about a possible combination of the two. A day after Mylan’s unsolicited proposal, Leerink analyst Jason Gerberry wrote in a research note that Mylan could come out ahead whether it lands Perrigo (PRGO) or not. If it doesn’t, he said, Teva Pharmaceutical Industries (TEVA) will likely succeed in its widely rumored attempts to acquire