PDL BioPharma tumbles on patent dispute. FDA approves "morning after" pill

 Below is a list of the companies that made news in the healthcare sector on Friday, August 13, 2010.

PDL BioPharma, Inc. (PDL) (Nasdaq:PDLI) announced today it has received a letter from Genentech claiming that Avastin, Herceptin, Lucentis and Xolair do not infringe supplementary protection certificates granted by various countries in Europe to PDL, greatly putting into risk royalty payments that PDL counts on for about 30% of its revenue.

PDL asserted that its European patents on the technology run through 2014 and it plans to vigorously enforce those rights.

Shares of PDL BioPharma fell 16.45% or $1.02 to close Friday's trading at $5.18.

Watson Pharmaceuticals, Inc. (NYSE:WPI), today after the bell announced that it intends to launch ella® (ulipristal acetate), a novel oral emergency contraceptive, in the fourth quarter of 2010. Watson's announcement follows the approval of ella® by the FDA as safe and effective in preventing unintended pregnancy for up to 120 hours – or five days – post-unprotected intercourse (UPI) or contraceptive failure. ella® was developed by HRA Pharma specifically for emergency contraception and is not intended for routine contraceptive use. ella® will be marketed by Watson in the United States under terms of an exclusive distribution agreement announced earlier this year.

"ella® is an important new contraceptive option for U.S. women, and its unique efficacy profile will give women an additional therapeutic alternative for preventing unintended pregnancy," said Fred Wilkinson, Executive Vice President, Global Brands at Watson. "Beginning later this year, Watson will be offering women a novel emergency contraceptive that represents a logical, therapeutic complement to NextChoice®, our generic levonorgestrel-based emergency contraceptive."

Also Friday:

Adherex Technologies Inc. (TSX:AHX)(PINK SHEETS:ADHXF), a biopharmaceutical company dedicated to providing innovative therapies that improve the life of cancer patients, today reported its financial results for the second quarter ended June 30, 2010.All amounts are in U.S. dollars.

Aeolus Pharmaceuticals, Inc. (OTCBB: AOLS) announced today financial results for the three months ended June 30, 2010.

Biovest International, Inc. (OTCQB:BVTI) today announced that the U.S. Department of Defense (DoD), Naval Health Research Center (NHRC), presented encouraging preliminary results demonstrating that Biovest's hollow fiber bio-manufacturing system is capable of efficiently producing a strain of pandemic A/H1N1 influenza virus.

Chemspec International Limited (NYSE:CPC) a leading China-based contract manufacturer of highly-engineered specialty chemicals, today announced its unaudited financial results(1) for the second quarter ended June 30, 2010.

Daxor Corporation, (NYSE Amex: DXR), a medical instrumentation and biotechnology company, today announced second quarter earnings for 2010

Dyadic International, Inc. ("Dyadic") (Pink Sheets:DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of specialty enzyme products and solutions for the bioenergy, industrial enzyme and biopharmaceutical industries, today announced financial results for the second quarter ended June 30, 2010.

Inspire Pharmaceuticals, Inc. (NASDAQ: ISPH) announced today it has entered into an Executive Employment Agreement with Charles A. Johnson, M.D., who will become Executive Vice President of Research and Development and Chief Medical Officer, effective September 15, 2010.

Leatt Corporation, (PINKSHEETS: LEAT) and the developer of the Leatt-Brace®, a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck), today announced unaudited financial results for its fiscal 2010 second quarter ended June 30, 2010.

Medtronic, Inc. (NYSE: MDT) announced today it will report financial results for the first quarter of its fiscal year 2011 on Tuesday, August 24, 2010.

Mylan Inc. (Nasdaq:MYL) today announced that it has completed a private placement of $300 million aggregate principal amount of Senior Notes due 2020.

Pro-Pharmaceuticals, Inc. (OTC: PRWP), a developer of therapeutics that target Galectin receptors to treat cancer and fibrosis, today reported its financial results for the second quarter and the first six months ended June 30, 2010.

Repros Therapeutics Inc. (NasdaqCM:RPRX) today announced that Nasdaq has granted the Company until October 31, 2010 to meet the minimum bid price requirement of the Nasdaq Capital Market. Listing Rule 5550(a)(2) requires the Company to maintain a minimum bid price of $1.00 for a minimum of ten consecutive trading days.

SANUWAVE Health, Inc. (OTCBB:SNWV), an emerging medical technology company focused on regenerative medicine, today reported financial results for the three and six months ended June 30, 2010 and provided a business update.

Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, will report its unaudited financial results for the second quarter of 2010 on Monday, August 16, 2010 after the close of the market.

Trubion Pharmaceuticals, Inc. (Nasdaq:TRBN) today announced that it plans to issue earnings results for the second quarter and first six months ended June 30, 2010, after the close of market on Aug. 16, 2010. 

Biotech investors interested in seeing more details about these companies and a full list of their related stories can do so by typing the stock ticker symbol into the Stock Quotes box on the right side of the page.