Actionable news
All posts from Actionable news
Actionable news in PFE: PFIZER Inc,

5 Things You Must Know Before the Market Opens Wednesday

If you'd like to receive "5 Things" in your email inbox every morning, please register for TheStreet Alerts and follow me.

Here are five things you must know for Wednesday, Aug. 24:

1. -- Just days after reaching an agreement to buy Medivation (MDVN) for $14 billion, Pfizer (PFE) bought the commercialization and development rights to AstraZeneca's (AZN) late-stage small molecule antibiotics business globally outside the U.S. in a deal that that could be valued at more than $1.5 billion.

The portfolio includes approved antibiotics Merrem, Zinforo and Zavicefta. It also includes ATM-AVI and CXL, which are in clinical development.

Allergan (AGN) , which saw a takeover deal with Pfizer fall apart this year, owns the rights to the drugs in the U.S.

The deal is expected to close in the fourth quarter of 2016.

Allergan is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AGN? Learn more now.

American depositary receipts of AstraZeneca traded slightly lower in premarket...