Gartman's..crude is going to $15 last month..one of my favorite..doesn't have a clue.. miscalls..
Feb 23 (Reuters) - Novartis AG has won U.S. antitrust approval to buy GlaxoSmithKline's oncology drugs, with conditions, the U.S. Federal Trade Commission said on Monday.
Canada's competition agency also said on Monday that it would allow the deal to go forward.
To win U.S. approval for the $16 billion deal, Novartis agreed to divest assets related to its BRAF and MEK inhibitor drugs, now in development to fight melanoma, the FTC said.
The deal is one of three related transactions announced in April 2014 in which GlaxoSmithKline would buy Novartis' global vaccine business, except for flu vaccines, Novartis would buy Glaxo's cancer drugs and the two companies would combine to create a consumer healthcare business.
With Monday's approval, the FTC has given the green light to all three portions of the deal.
Array BioPharma Inc, which is based in Colorado, has agreed to purchase the inhibitor drugs, the U.S. agency said.
The FTC said the divestiture was needed because Glaxo and Novartis were among a small number of companies that sell or are developing the inhibitors.
The University of Texas System has hired Mark Houser, an executive with EV Energy Partners LP and EnerVest Ltd., both based in Houston, as CEO of the University Lands office.
The decision puts Houser in charge of the system's 2.1 million acres of oil-rich land in West Texas, which generates revenue for the UT and Texas A&M University system.
Houser, who will step down from EV Energy Partners at the end of the month and begin his new post in March, will make up to $2.4 million a year, with a base salary of $700,000, a retention payment of $350,000 and performance bonuses of up to $1.4 million. He will also receive a one-time payment of $500,000 to compensate him for foregone economic opportunities.
The oil fields that are part of the system generate yearly revenue for the schools' Permanent University Fund, an endowment currently valued at $17.5 billion. Last year those fields generated $1.1 billion and Houser's experience in the energy industry is expected to help increase the performance of those resources and generate more revenue.
With Encorafenib being in combination clinical trials with ERBITUX (cetuximab)..that produced good results presented at last years ASCO..seems Merck KGaA could be the deep pockets, European partner Array needs..
Cramer..king of the flip flops..and consistently wrong..who cares what he says..around here Charles Payne is on the same time in the evening as Cramer..time to retire Jim..before CNBC moves your time slot to 1 AM..
From Finanzen..German translation..
"Brussels / Basel (awp) - The European Commission has given the green light for the split transaction between Novartis and GlaxoSmithKline (GSK). Been approved had a hand in both the proposed acquisition of the vaccines business of Novartis by GSK and the establishment of a new company in which the activities of GSK and Novartis are brought together in the area of non-prescription health products, such as the authority announced on Wednesday. In addition, it was concluded that the proposed acquisition of Cancer division of GlaxoSmithKline Novartis is compatible with the EU Merger Regulation.
However, the latter approval successes under the condition that Novartis sold the rights to the cancer drugs BRAF and MEK inhibitors LGX818 inhibitors MEK162, it goes on to say."
The Deal Will Focus Novartis’ Scope and Turn Glaxo Into a Vaccines-and-Consumer-Drug Powerhouse..
Sometime ago ..I posted on this board..that no way should Array be trading at such a large discount to Celldex..this is glaringly obvious now given the recent Array developments..compare pipelines..compare active trials..
Some old CuraGen (acquired by CellDex) longs may wonder why Jonathan and friends gave up a potential blockbuster (CDX-011)and returned to research..would you?..Array is way undervalued..
The deal, which gives Array (Nasdaq: ARRY) worldwide rights to develop and commercialize encorafenib (LGX818), comes a month and a half after Array had recovered worldwide rights to a drug it had developed, binimetinib, from Novartis.
Both deals stem from Novartis’ deal announced last April to acquire a suite of oncology products from GlaxoSmithKline. To gain regulatory approval, Novartis has had to divest certain drugs from its portfolio.
LGX818 is a BRAF inhibitor developed by Novartis, but in the deal with GlaxoSmithKline the company acquired another BRAF inhibitor that is already on the market called Tafinlar. Likewise, Novartis’ acquisition of Mekinist in the GSK deal conflicted with its development and licensing deal with Array for binimetinib, a competing MEK inhibitor..from.."Array shares soar on new rights to developmental cancer drug LGX818"..
June, 2014 Johanna Bendell, MD, director of GI Cancer Research Program, associate director, Drug Development Program, Sarah Cannon Research Institute, discusses two studies in BRAF-mutated colorectal cancer (CRC). The studies were both presented at the 2014 ASCO Annual Meeting. The first was an open-label phase I/II study of trametinib, dabrafenib, and panitumumab in combination for patients with BRAF V600E mutated CRC. The second was a phase I study exploring the novel agent encorafenib (LGX818) combined with cetuximab with or without BYL719 in patients with advanced BRAF-mutant CRC. Bendell says both of these studies showed a response rate of about 35-40%. Usually, patients with BRAF-mutant CRC treated with single-agent chemotherapy only have a response rate of less than 10%. This study showed that an in-depth understanding of molecularly targeted agents and pathways really makes sense, Bendell says.
i think u get burned soon..lights go out for u..
Oct 22nd, 2014..Vanguard Natural Resources was upgraded by investment analysts at Wunderlich from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, TheFlyOnTheWall reports.
Oct 8, 2014, 1:13pm CDT Houston-based EnerVest Ltd. expects to soon launch a massive investment fund with up to $4.5 billion in purchasing power.
EnerVest CEO John Walker said the Fund XIV could be ready in December, as EnerVest also continues to be active in acquisitions. Walker said he is optimistic EnerVest will be involved in some big acquisitions by the end of February.
"I do think we’re going to have a very active market," Walker said. "I’m anticipating that between now and February, we’re going to see some very large deals, and hopefully we’ll get a few of those."
Got Energy? Sign up for our Energy Inc. newsletter here
Walker said EnerVest will "probably launch" Fund XIV in December with $2.5 billion to $3 billion in private equity and, with debt, between $4 billion and $4.5 billion in purchasing power.
"We have 177 institutional investors in the U.S. and Canada, and we’re now marketing outside of the United States," Walker said. "So I’d anticipate we’ll have a few international investors with us this time. We’ve never really done that before."
EnerVest's Fund XIII closed in March 2013 with $2 billion from 141 institutional investors and $3.3 billion in purchasing ability.
EnerVest has been busy of late with recent deals to buy assets in the Texas Panhandle from Houston-based Linn Energy LLC (Nasdaq: LINE) while also acquiring Houston-based HighMount Exploration & Production LLC from New York-based Loews Corp. (NYSE: L).