On Thursday, Shares of Horizon Pharma PLC (NASDAQ:HZNP), lost -0.79% to $18.82.
Depomed, issued the following statement regarding Horizon Pharma plc’s (HZNP) (“Horizon”) decision to withdraw its acquisition proposal. The withdrawal follows a ruling recently by the Santa Clara County Superior Court enjoining Horizon Pharma’s exchange offer and proxy solicitation based on Horizon’s misuse of Depomed’s confidential information:
Depomed’s Board and administration team are committed to enhancing long-term value and we look forward to ongoing to execute on our strategy and delivering noteworthy and sustainable returns for all our shareholders. For example, the NUCYNTA franchise is, in our view, a transformational value driver for Depomed that will significantly improvement Depomed’s EBITDA and cash flow in 2015 and beyond. Ultimately, we strongly believe we have successfully executed our acquisition and commercialization strategy, and Depomed has a bright future as an independent company.
We thank all of our shareholders for their input and support throughout this process. And importantly, we want to thank our employees for their relentless focus and dedication to the patients, families, physicians and other providers and payers we serve.
Morgan Stanley & Co. LLC and Leerink Partners LLC are serving as financial advisors to Depomed and Gibson, Dunn & Crutcher LLP and Baker Botts L.L.P. are serving as legal counsel.
Horizon Pharma plc, a specialty biopharmaceutical company, engages in identifying, developing, acquiring or in-licensing, and commercializing medicines for the treatment of arthritis, pain, inflammatory, and/or orphan diseases in the United States and internationally.
Shares of Gap Inc (NYSE:GPS), declined -1.24% to $25.08, during its last trading session.
Gap Inc., stated results for the third quarter of fiscal year 2015 and updated its full-year fiscal 2015 outlook.
“With a challenging third quarter behind us, we are sharply focused on holiday execution across all channels,” said Art Peck, chief executive officer, Gap Inc. “We are driving forward on our key strategies designed to fuel future growth.”
“Old Navy delivered another successive quarter of growth,” Peck continued. “Gap has made clear progress on its transformation agenda and we look forward to introducing customers to the brand’s spring collection, which embodies elevated American style.”
On a stated basis, Gap Inc.’s third quarter fiscal year 2015 diluted earnings per share were $0.61. On an adjusted basis, the company’s diluted earnings per share were $0.63, not taking into account a $0.02 impact from planned actions formerly declared on June 15, 2015. Please see the reconciliation of adjusted diluted earnings per share, a non-GAAP financial measure, from the GAAP financial measure in the table at the end of this press release.
The Gap, Inc. operates as an apparel retail company worldwide. It offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brand names.
Finally, Shares of Opko Health Inc. (NYSE:OPK), ended its last trade with -3.24% loss, and closed at $10.76.
OPKO Health, declared that senior administration will present at the Jefferies Autumn 2015 Healthcare Conference on Wednesday, November 18, 2015, at 2:00 GMT in London, England.
OPKO Health, Inc., a biopharmaceutical and diagnostics company, engages in the discovery, development, and commercialization of novel and proprietary technologies in the United States and internationally. It operates through two segments, Pharmaceuticals and Diagnostics.