On Thursday, Shares of VIVUS, Inc. (NASDAQ:VVUS), gained 0.99% to $1.02.
VIVUS declared that it has been notified by Auxilium Pharmaceuticals, Inc., a partner of Endo International, plc. of Auxilium’s intention to return the U.S. and Canadian commercial rights for STENDRA® (Avanafil) to VIVUS. Auxilium has offered its contractually obligated six-month notice of termination which, absent a contract between Auxilium and VIVUS for an earlier date, will result in the termination of the license and supply agreement on June 30, 2016.
“We are excited to reacquire the U.S. and Canadian commercial rights for STENDRA. We appreciate Endo’s efforts to build the STENDRA brand and understand their decision to focus their resources on BELBUCA™,” said Seth Fischer, VIVUS Chief Executive Officer. “With STENDRA’s 15 minute onset-of-action, efficacy, ability to be taken with food and alcohol, and safety profile, we remain confident in STENDRA’s long-term prospects. We are in the process of evaluating ways for maximizing the value of STENDRA and expect to make an declarement by the end of the first quarter of 2016 with our decision. As part of this process, we are working closely with Auxilium to ensure a smooth transition of STENDRA back to VIVUS.”
Any forward-looking statements in this press release are based on current information as of the date of this press release, and VIVUS does not undertake any obligation to update any forward-looking statements to reflect new information or future developments or events, except as required by law. The reader is cautioned not to rely on these forward-looking statements.
VIVUS, Inc., a biopharmaceutical company, develops and commercializes therapies to address unmet needs in obesity, sleep apnea, diabetes, and sexual health in the United States and the European Union.
Shares of Arcelor Mittal SA (ADR) (NYSE:MT), declined -1.98% to $4.22, during its last trading session.
On Tuesday, December 22, 2015, NASDAQ Composite ended at 5,001.11, up 0.65%, Dow Jones Industrial Average advanced 0.96% to finish the day at 17,417.27 and the S&P 500 closed at 2,038.97, up 0.88%.
ArcelorMittal SA’s shares advanced 7.22% to close Tuesday’s session at USD 4.16. The shares traded below its 50-day and 200-day moving averages of USD 5.02 and USD 8.13, respectively. The share price oscillated between USD 3.97 and USD 4.19. The shares recorded a trading volume of 8.72 million shares, which was below its 50-day daily average volume of 9.44 million shares and above its 52-week average volume of 7.92 million shares. Over the last three days ArcelorMittal SA’s shares have advanced 11.53% and in the past one week the shares have moved up 6.67%. However, in the last six months the shares have lost 60.90% and year to date the shares have shed 60.47%. ArcelorMittal SA has a current dividend yield of 5.15%. In addition, the company is trading at a price to book ratio of 0.2, while the price to sales ratio stood at 0.1. The price to cash flow ratio was recorded at 2.6.
ArcelorMittal, together with its auxiliaries, operates as an integrated steel and mining company worldwide. The company operates through five segments: NAFTA; Europe; Brazil and Neighboring Countries (Brazil); Africa & Commonwealth of Independent States (ACIS); and Mining. It produces finished and semi-finished steel products.
Finally, Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), ended its last trade with -0.65% loss, and closed at $65.65.
Teva Pharmaceutical Industries Ltd., declared that the underwriters for its formerly declared offerings of its American Depositary Shares (“ADSs”), each representing one Teva ordinary share, and its 7.00% Mandatory Convertible Preferred Shares have exercised in full their option to purchase an additional 5,400,000 ADSs and 337,500 Mandatory Convertible Preferred Shares. As a result, Teva anticipates receiving an additional $658 million in net proceeds, for an aggregate of about $7.24 billion counting the initial closing, in each case after estimated underwriting discounts, commissions and offering expenses payable by Teva. Closing of this additional sale is predictable to occur on January 6, 2016.
Teva intends to use the net proceeds from these offerings towards the cash portion of the purchase price for its formerly declared acquisition of Allergan plc’s worldwide generic pharmaceuticals business (“Actavis Generics”) and related fees and expenses, for the pending acquisition of Rimsa or otherwise for general corporate purposes. Pending such use, Teva has used certain of the proceeds towards the repayment of debt. If for any reason the acquisitions do not close, Teva anticipates to use the net proceeds from these offerings for general corporate purposes.
Barclays, BofA Merrill Lynch, Citigroup, Morgan Stanley, BNP PARIBAS, Credit Suisse, HSBC, Mizuho Securities, RBC Capital Markets and SMBC Nikko acted as the joint book-running managers for the offerings. Rothschild served as financial advisor to Teva in connection with the offerings.
Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic, specialty, and other pharmaceutical products worldwide. The company operates in two segments, Generic Medicines and Specialty Medicines.