On Friday, Shares of Mylan N.V. (NASDAQ:MYL), surged 4.46% to $69.82.
Mylan, commented on recent media speculation.
Mylan Executive Chairman Robert J. Coury commented, “We note that there has been some media speculation with regard to a potential bid for Mylan by Teva and that this rumor has been circulating for some time. Although it has been company policy not to comment on such media speculation, given current circumstances, we believe it is appropriate to do so now.
Mylan is fully committed to its stand-alone strategy, counting its proposal to attain Perrigo, and recently’s speculation has no influence whatsoever on this strategy.
We have studied the potential combination of Mylan and Teva for some time and we believe it is clear that such a combination is without sound industrial logic or cultural fit. Further, there would be noteworthy overlap in the companies’ businesses and we believe that it is unlikely that any such combination could obtain anti-trust regulatory clearances.
Of course, should any party make an actual offer to attain Mylan, the Board would carefully consider it in exercising its fiduciary duties in the best interests of the company, our stockholders and other stakeholders.
We do not intend to comment further on media speculation and will maintain our unwavering focus on executing on our business plan and concluding a successful transaction with Perrigo.”
Mylan N.V., through its auxiliaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide. The company provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, or transdermal patch forms, in addition to active pharmaceutical ingredients (APIs).
Shares of SM Energy Company (NYSE:SM), gained 4.41% to $58.22, during its last trading session.
SM Energy Company, declared that production for the first quarter of 2015 is predictable to be 16.8 MMBOE, or 186.4 MBOE/d. This represents 6% sequential growth in average daily production from the fourth quarter of 2014, and exceeds the Company’s guidance.
The Company also declared that the borrowing base under its senior secured revolving credit facility was maintained at $2.4 billion following its lenders’ regularly planned semi-annual redetermination. SM Energy has elected to leave the aggregate commitment amount from the bank group unchanged at $1.5 billion. The redetermination was made under the terms of the existing facility and there were no other changes to the terms of the credit facility resulting from this borrowing base redetermination.
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America.
At the end of Friday’s trade, Shares of 58.com Inc. (NYSE:WUBA), gained 4.34% to $70.50, hitting its highest level.
58.com, declared that it has attained a planned stake in Falcon View Technology Limited, the holding company of the PRC entities operating Ganji.com, a major online local services marketplace platform in China. Concurrently, 58.com also declared an about US$400 million additional investment by Tencent Holdings Limited, a leading provider of internet services in China.
Under the terms of the definitive contract with shareholders of Ganji, and as part of an intended long-term, planned combination transaction, 58.com has agreed to attain an about 43.2% fully diluted equity stake in Ganji for a combination of share consideration and cash, counting about 34 million newly issued ordinary shares of the Company (one American Depositary Share, or “ADS”, represents two class A ordinary shares) and US$412.2 million in cash. The two companies, which will continue to operate their respective brands, websites and teams, intend to maximize business synergies created by this new planned relationship, and capitalize on opportunities to cooperate and further expand their businesses.
Concurrent with the 58.com-Ganji Planned Transaction and incremental to its existing share ownership in 58.com, Tencent has signed a definitive share purchase contract with 58.com to purchase an additional about US$400 million of newly issued ordinary shares from 58.com at a purchase price equivalent to US$52 per ADS. Following the completion of this additional investment by Tencent, Tencent will hold in aggregate about 25.1% of the total issued and outstanding shares of 58.com on a fully-diluted basis.
Both the 58.com-Ganji Planned Transaction and the Tencent Investment are predictable to close within a few days, subject to customary closing conditions.
58.com Inc. operates online marketplace for local merchants and consumers in the People’s Republic of China. Its online marketplace enables local merchants and consumers to connect, share information, and conduct business.
Finally, Rosetta Genomics, Ltd. (NASDAQ:ROSG), ended its last trade with 3.70% gain, and closed at $3.92, as it received a key U.S. patent for its cancer origin diagnostic test yesterday, announcing the completion of its acquisition of oncology testing service provider PersonalizeDx from Abbot Laboratories (ABT) on Tuesday and being upgraded by analysts at Cantor Fitzgerald before the opening bell Friday.
Analysts at the firm upgraded the company’s outlook to “buy” from “hold” while raising its price target to $5.50 from $4, a potential 35.5% upside from the stock’s current trading price.
“PDx not only provides immediate scale to ROSG’s business, but brings strong top-line growth momentum (almost three-fold raise in 2014 revenue y/y, despite reimbursement challenges for FISH-based tests),” said analysts at the firm.
Rosetta Genomics Ltd. develops and commercializes microRNAs based diagnostic tests and therapeutics. MicroRNAs are a group of genes that are produced using instructions encoded in DNA. The company offers diagnostic tests, counting Rosetta Cancer Origin test, a microRNA-based diagnostic to identify 42 tumor types that comprise carcinomas, soft tissue tumors, lymphoma, and other malignancies.
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