Endo Buying Par Pharma To Become Top Generics Player
BY AMY REEVES, INVESTOR'S BUSINESS DAILY
10:38 AM ET
Aspiring specialty-drug giant Endo International (NASDAQ:ENDP) agreed to buy major generic drugmaker Par Pharmaceutical Holdings for $8.05 billion Monday, a deal Endo says will make it one of the top five generic-drug makers in the world.
Investors were a bit nervous, however, and Endo was down 2% in early trading in the stock market today.
Endo agreed to shell out $6.5 million in cash and 18 million of its own shares to acquire Par from TPG Capital, the private-equity group that took Par private in September 2012. In March, Par filed to return to the stock market in an IPO, which revealed that it generated $1.3 billion in revenue last year from nearly 100 products.
"Our generics business, Qualitest, continues to be an extremely attractive and effective growth driver for Endo," Endo CEO Rajiv De Silva said in a statement. "This transaction with Par builds upon our generics growth, adding a strong portfolio of high barrier-to-entry and attractive gross margin products while also transforming Endo, creating a powerful corporate platform for future growth and strategic M&A."
De Silva said Par CEO Paul Campanelli would join Endo's leadership team, though he didn't specify the position. The companies expect to realize $175 million in operating and tax savings within the first 12 months of the merger.
The deal continues the highly acquisitive strategy De Silva has adopted since taking the helm in March 2013, following the example of Valeant Pharmaceuticals (NYSE:VRX), where De Silva used to be chief operating officer. In March, he faced off against his former employer in an attempt to woo Salix Pharmaceuticals away from Valeant, a move Valeant defeated by raising its bid.
The friendly nature of the Endo-Par deal stands out among the recent round of hostile buyout attempts in the generics industry, with Teva Pharmaceutical (NYSE:TEVA) chasing Mylan (NASDAQ:MYL) and Mylan chasing Perrigo (NYSE:PRGO), as the long run of consolidation in the industry has left only a few big companies able to make substantial deals.
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It's the end-o the road for TPG and Par Pharmaceutical Holdings Inc.Endo International PLC(ENDP) agreed to acquire the pharmaceutical maker for $8 billion, Chelsey Delaney writes for The Wall Street Journal.
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955 Bay Street
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that is the big question... I would expect it will be a good benefit for us BX holders.. assume they wouldonly do it because it increases value to us BS holders...BX knows what is best and has done the BEST....
Hilton REIT Deal Seen More Likely, No To Starwood
BY MARILYN ALVA, INVESTOR'S BUSINESS DAILY
04:02 PM ET
A potential spinoff of hotel properties owned by Hilton Worldwide Holdings (NYSE:HLT) into a real estate investment trust (REIT) may be more likely after this week's latest secondary offering of Hilton stock by majority owner Blackstone Group (NYSE:BX).
Since Blackstone's stake would fall below 50%, Hilton would no longer be "a controlled entity," said analyst Robin Farley of UBS in a research note on Friday, following a UBS-sponsored investors' conference with lodging companies.
That would make a tax-advantaged REIT spinoff more likely, she wrote.
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Blackstone bought Hilton in 2007 in a debt and equity deal valued at around $25 billon. It's been reducing its stake subsequent to the lockout period for Hilton's December 2013 IPO.
Farley says Hilton might also possibly initiate a dividend in the second half of the year, which would "open up a pool of income investors as potential owners" of Hilton shares.
Another potential catalyst for Hilton could be the launch of a new midscale brand priced below the Hampton brand.
As for a potential transaction or combination with troubled Starwood Hotels (NYSE:HOT), she said Hilton "feels they don't need the scale or the potential distraction" and that Starwood's Sheraton brand "may actually be too big."
Starwood is reportedly seeking "strategic alternatives" that might include a sale, spinoff of certain assets or other options.
"Hilton doesn't feel the need to buy it defensively. They have enough scale that it wouldn't matter to them if (Starwood) combined with another lodging company," Farley noted.
She said a Marriott (NASDAQ:MAR) combination with Starwood also seems to make "little sense."
Among lodging companies, Marriott has the second-largest market capitalization after Hilton, followed by Starwood.
Hilton is the highest rated of the three lodging companie
i love bx but sold
had seeval thousand shares at average cost around 32.50 .Don't like mkt here also sold many other stocks.will buy bx few points lower and if not many others to choose from.glta
IntelliPharmaCeutics Intl Lowered to Hold at Zacks (IPCI)
Posted on May 13, 2015 by Jamal Genner in Analyst Articles - US, Investing
Zacks downgraded shares of IntelliPharmaCeutics Intl (NASDAQ:IPCI) from a strong-buy rating to a hold rating in a report issued on Wednesday.
Zacks’ analyst wrote, “Intellipharmaceutics International Inc. is engaged in the research, development, and commercialization of controlled-release and targeted pharmaceutical products. Its products include Effexor XR and Protonix. The Company offers products in different stages of development in therapeutic areas, including neurology, cardiovascular, and GIT. Intellipharmaceutics International Inc. was formerly known as IntelliPharmaCeutics Ltd. and is based in Toronto, Canada. “
Zacks has also modified their ratings on a number of other stocks in the few days. The firm downgraded shares of Imperial Oil Limited from a buy rating to a hold rating. Also, Zacks downgraded shares of Energy Transfer Equity LP from a strong-buy rating to a hold rating. Finally, Zacks downgraded shares of BHP Billiton plc from a hold rating to a sell rating.
Shares of IntelliPharmaCeutics Intl (NASDAQ:IPCI) remained flat at $2.96 during trading on Wednesday. The stock had a trading volume of 293,227 shares. IntelliPharmaCeutics Intl has a 52-week low of $1.94 and a 52-week high of $4.19. The stock’s 50-day moving average is $2. and its 200-day moving average is $2.. The company’s market cap is $69.68 million.
IntelliPharmaCeutics Intl (NASDAQ:IPCI) last released its earnings data on Tuesday, April 14th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.04. Analysts expect that IntelliPharmaCeutics Intl will post $-0.13 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet upgraded shares of IntelliPharmaCeutics Intl from a sell rating to a hold rating in a research note on Wednesday, April 15th. Analysts at Brean Capital reiterated a buy rating and set a $8.00 price target on shares of IntelliPharmaCeutics Intl in a research note on Wednesday, April 1st. Finally, analysts at Nomura downgraded shares of IntelliPharmaCeutics Intl to a neutral rating in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. IntelliPharmaCeutics Intl presently has a consensus rating of Hold and a consensus target price of $7.50.
Intellipharmaceutics International Inc (NASDAQ:IPCI) is a pharmaceutical company specializing in the research, development and manufacture of generic controlled-release and targeted-release oral solid dosage drugs. Its patented Hypermatrix technologies are a multidimensional controlled-release drug delivery platform that can be applied to the efficient development of a range of existing and new pharmaceuticals.
Blackstone busy putting money to work
May 13 2015, 07:44 ET | About: The Blackstone Group L.P. (BX) | By: Stephen Alpher, SA News Editor
The P-E giant is in talks to buy Israeli supermarket chain Mega from Alon Group, reports Globes, with talks being led (on Blackstone's side) by Dan Gillerman, the former Israeli Ambassador to the UN.It would be Blackstone's (NYSE:BX) first Israeli investment.Mega is the country's 2nd-largest supermarket chain, with 171 stores.In other news, Blackstone is among the potential bidders for Japanese property asset manager Simplex Investment Advisors in a deal that could be in the area of $1.25B, reports Reuters.
so big trades this morning..looks like both sides making bets on possible news and direction.. have no idea what will happen..only hope for some good news :)own 7,000 shares..
The Blackstone Group L.P. (BX) (Previous Close: $42.69, Get Quote) (Ratings, Earnings and Dividend History)
The Blackstone Group L.P. (NYSE:BX) had its "overweight" rating reaffirmed by analysts at Barclays ( ). Previous closing price of $42.69. Tweet This.
(5/11) The Blackstone Group L.P. Rating Reiterated by Deutsche Bank (BX) - Mideast Time
(5/12) The Blackstone Group L.P.'s Overweight Rating Reiterated at Barclays (BX) - Mideast Time
Sentiment: Strong Buy
best wishes to you..this stock sometimes acts weird :).....scares people sometimes...long term holder here..BX is the best of the group...