$SPHS (Sophiris Bio, Inc.)

$SPHS {{ '2016-08-29T09:54:45+0000' | timeago}} • Announcement

Biopharmaceutical company $SPHS said it has closed its previously announced public offering. With the proceeds from the offering, company plans to conduct a second Phase 2 clinical trial of topsalysin for treating localized prostate cancer. Company expects to have 6 month biopsy data from the trial in 2H of 2017.

$MCK {{ '2017-07-21T16:07:44+0000' | timeago}} • Announcement

Biologics, a unit of healthcare technology firm $MCK, said it will join the limited distribution network of $PBYI to promote the latter’s kinase inhibitor Nerlynx. The formulation is indicated for treatment of adult patients with early-stage HER2 overexpressed/amplified breast cancer.

$VRX {{ '2017-07-17T14:04:54+0000' | timeago}} • Announcement

$VRX has entered into an agreement to sell its Obagi Medical Products business for $190MM in cash to Haitong International Zhonghua Finance Acquisition Fund I, L.P. The transaction is expected to close in second half of 2017. $VRX intends to use the proceeds from the sale to permanently repay term loan debt under its Senior Secured Credit Facility.

$VRTX {{ '2017-07-13T12:31:35+0000' | timeago}} • Announcement

$VRTX announced that the Italian Medicines Agency has agreed to reimburse ORKAMBI (lumacaftor/ivacaftor), the first medicine to treat the underlying cause of cystic fibrosis in people ages 12 and older who have two copies of the F508del mutation. Effective immediately, hundreds of eligible patients in Italy will have access to this medicine.

$VRX {{ '2017-07-10T13:27:06+0000' | timeago}} • Announcement

$VRX pays down $811MM of senior secured term loans using the net proceeds of the sale of Dendreon Pharmaceuticals LLC. The company has now reduced its debt by more than $4.3Bil since the end of 1Q16. $VRX still expects to pay down $5Bil in debt from divestiture proceeds and free cash flow within 18 months of August 2016.

$WBA {{ '2017-06-29T14:01:47+0000' | timeago}} • Announcement

$WBA agreed to buy 2,186 stores, three distribution centers and related inventory from $RAD. $WBA expects the new transaction to be modestly accretive to its adjusted EPS in the first full year after the initial closing of the new transaction, and expects to realize synergies from the new transaction in excess of $400MM.

$WBA {{ '2017-06-29T14:01:00+0000' | timeago}} • Announcement

$WBA agreed to buy 2,186 stores, three distribution centers and related inventory from $RAD. This new agreement replaces the previous merger agreement with Rite Aid, announced in October 2015 and amended in January 2017. The initial closing of the new transaction is expected to occur within the next six months.

$WBA {{ '2017-06-29T14:00:00+0000' | timeago}} • Announcement

$WBA agreed to buy 2,186 stores, three distribution centers and related inventory from $RAD. The consideration for the transaction will be $5.175Bil in cash, the assumption by $WBA of the related real estate leases and the grant of an option to $RAD to become a member of $WBA's group purchasing organization, Walgreens Boots Alliance Development.

$WBA {{ '2017-06-29T13:35:36+0000' | timeago}} • Webcast

$WBA said that on the $RAD agreement, while the company is assuming a real-estate obligation, it is not assuming any debt. Additionally, $WBA is expecting the deal to give significant cash tax benefit, as it tax amortizes the intangible assets it acquires from $RAD.

$RAD {{ '2017-06-29T12:19:47+0000' | timeago}} • Announcement

In 1Q18, $RAD opened one store, relocated four, remodeled 67 and expanded one store, bringing the total number of wellness stores chainwide to 2,482. The company closed 14 stores, resulting in a total store count of 4,523 at the end of the first quarter.

$RAD {{ '2017-06-29T12:18:00+0000' | timeago}} • Announcement

Drugstore chain $RAD posted revenue of $7.8Bil in 1Q18, a decrease of 4.9%, as same store sales slid 3.9% YoY. Net loss widened to $75.3MM or $0.07 per share, compared to last year’s $4.6MM or $0.00 per share, hurt by lower pharmacy gross profit. Adjusted EBITDA was $192.6MM compared to $286MM in the year-over period.

$RAD {{ '2017-06-29T12:09:28+0000' | timeago}} • Announcement

$RAD and $WBA announced that the latter will not buy the former as initially announced. Instead of the previously announced deal that was severely scrutinized by the Federal Trade Commission, $WBA will instead buy 2,186 Rite Aid Stores and Related Assets for $5.17Bil. Rite Aid will receive $325MM from $WBA as termination fee.

$WBA {{ '2017-06-29T11:32:22+0000' | timeago}} • Announcement

$WBA, which reached an agreement with $RAD worth $5.17Bil today, reported a modest 5% increase in earnings for 3Q17 upon strategic partnerships that brought more patients to its pharmacies. Both sales and earnings inched up, with sales scaling up 2.1% to $30.1Bil, while earnings rose to $1,162MM. Adjusted earnings spiked 12.7% to $1.33 per share.

$VRTX {{ '2017-06-09T09:55:40+0000' | timeago}} • Announcement

$VRTX shareholders have elected Alan M Garber as an independent member of its board of directors. Garber is provost of Harvard University, the Mallinckrodt Professor of Health Care Policy at Harvard Medical School, a Professor of Economics in the Faculty of Arts and Sciences and a Professor of Public Policy in the Harvard Kennedy School of Govt.

$FRED {{ '2017-06-06T12:57:05+0000' | timeago}} • Webcast

$FRED is collaboratively working with $WBA, $RAD and Federal Trade Commission to obtain the FTC's approval of the divestiture of certain Rite Aid assets to Fred's Pharmacy in connection with Walgreen's pending acquisition of Rite Aid. The company is committed to purchasing additional assets, including up to 1,200 Rite Aid stores.

$FRED {{ '2017-06-06T12:56:11+0000' | timeago}} • Webcast

$FRED, which agreed to acquire 865 $RAD stores and certain assets in an $950MM deal in Dec. 2016,  closed underperforming stores and write off discontinued merchandise in 1Q17. The company said that it is on track with 2017 plan and expects to be profitable on an operational basis by the end of FY17.

$MCK {{ '2017-05-24T20:45:05+0000' | timeago}} • Announcement

The Board of Directors of $MCK declared a regular dividend of $0.28 per share on common stock. The dividend will be payable on July 3, 2017, to stockholders of record on June 5, 2017.

$MCK {{ '2017-05-18T22:30:24+0000' | timeago}} • Webcast

$MCK stated that on the buy side for generics, the company is seeing a deflation going forward. However, the company added that deflation is not a big factor that plays into the way its economics or P&L operates.

$MCK {{ '2017-05-18T21:05:10+0000' | timeago}} • Announcement

During 4Q17, $MCK's Distribution Solution revenues rose 5% YoY to $48.2Bil. Revenues of North America pharmaceutical distribution and services revenues were $40.6Bil, up 5%. International pharmaceutical distribution and services revenues were $6.1Bil and Medical-Surgical distribution and services revenues were $1.6Bil.

$MCK {{ '2017-05-18T21:01:30+0000' | timeago}} • Announcement

$MCK reported an increase in 4Q17 profit, due to a pre-tax gain of $3.9Bil related to the previously announced creation of the Change Healthcare joint venture. Net income rose to $3.6Bil, or $16.95 per share, compared to $431MM, or $1.97 per share during 4Q16. Revenues rose 4% YoY to $46.7Bil during the quarter.

$VRTX {{ '2017-05-18T12:30:41+0000' | timeago}} • Announcement

$VRTX said the U.S. Food and Drug Administration has approved Kalydeco (ivacaftor) for use in people with cystic fibrosis (CF) ages 2 and older who have one of 23 residual function mutations in the cystic fibrosis transmembrane conductance regulator gene. $VRTX lifted outlook for 2017 product revenue of Kalydeco to $740-770MM from $710-730MM.

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