Alkermes acquires Elan's EDT unit

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By BioMedReports.com Staff   
Monday, 09 May 2011 20:31
Below is a look at some of the headlines for companies that made news in the healthcare sector on May 09, 2011.

Shares of Alkermes, Inc. (NASDAQ:ALKS) and Elan Corporation, plc (NYSE:ELN) both rose today after the companies announced that Alkermes will acquire Elan Drug Technologies (EDT), the drug formulation and manufacturing business unit of Elan, in a cash and stock transaction valued at approximately $960 million. Alkermes and EDT will be combined under a new holding company incorporated in Ireland. This newly created company will be named Alkermes plc. “The combination of Alkermes and EDT is a strong strategic fit at the right time when both businesses are strong and positioned for growth. With EDT’s two recently approved drugs, INVEGA SUSTENNA and AMPYRA, driving revenue growth, the EDT business is an ideal complement to Alkermes’ portfolio of approved and development-stage drugs,” stated Shane Cooke, Executive Vice President and Head of EDT.
 
Alkermes developed, manufactures and commercializes VIVITROL for alcohol and opioid dependence and manufactures RISPERDAL CONSTA for schizophrenia and bipolar I disorder. Their pipeline includes extended-release injectable and oral products for the treatment of prevalent, chronic diseases, such as central nervous system disorders, addiction and diabetes. Elan Drug Technologies, is one of the world’s leading drug delivery companies. EDT's NanoCrystal technology helps drug compounds that dissolve poorly in water, while it's other technologies enable the gradual release of drugs from pills taken orally.
 
Shares of Elan gained 37 cents or 4.7% to $8.24 while Alkermes jumped 75 cents or 5.18% to $5.22.

Also Monday:

Advanced Cell Technology, Inc. (OTCBB: ACTC)
, a leader in the field of regenerative medicine, announced today first quarter financial results for the period ended March 31, 2011.

Allied Healthcare International Inc. (NASDAQ: AHCI), a leading homecare provider of health and social care in the United Kingdom and Ireland, announced today that its U.K. subsidiary, Allied Healthcare Group Limited, has acquired the entire issued share capital of BiJu Limited.

Allezoe Medical Holdings, Inc. (OTCBB:ALZM) today announced that Organ Transport Systems, Inc. its wholly-owned subsidiary, has expanded research on its LifeCradle® HR device for donor heart preservation to include a new collaboration with Duke University Medical Center ("Duke").

American Oriental Bioengineering, Inc. (NYSE:AOB), a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over–the-counter ("OTC") products, today announced financial results for the first quarter ended March 31, 2011.

Ardea Biosciences, Inc. (Nasdaq:RDEA), a biotechnology company focused on the development of small-molecule therapeutics for the treatment of serious diseases, today reported recent accomplishments and financial results for the first quarter ended March 31, 2011.

Atrion Corporation (NASDAQ: ATRI) today announced that for the first quarter of 2011 diluted earnings per share were 46% higher than in the first quarter of 2010, and revenues for the quarter were up 14% compared to the first quarter of 2010.

Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR) today reported financial results for the three and six months ended March 31, 2011.

Cellceutix Corporation (OTCQB: CTIX), is pleased to report that it has submitted for review the "Investigator's Brochure and Clinical Protocol" sections of its Investigational New Drug (IND) application for Kevetrin™, Cellceutix's drug in development as a treatment for cancers, to the world-renowned hospital in which it expects to host its Phase I clinical trials.

Chai-Na-Ta Corp. (OTCBB:CCCFF), one of the world's largest suppliers of North American ginseng, today announced first quarter 2011 net earnings of $1,162,000, or $0.03 per basic share, compared to a net loss of $97,000 in 2010, or less than $0.01 per basic share.

Dyadic International, Inc. ("Dyadic") (OTC Pink: DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of enzyme and protein products for the bioenergy, industrial enzyme and biopharmaceutical industries, today announced that Jan Wery, Ph.D., Science Director of Dyadic's research and development center in The Netherlands, will be making a presentation entitled, Efficient Saccharification of Lignocellulosic Feedstocks Using the C1 Technology Platform, at the World Congress on Industrial Biotechnology & Bioprocessing (Track 1: Advanced Biofuels Technology) on Wednesday, May 11, 2011 at 9:00 a.m. ET.

GenVec, Inc. (NASDAQ: GNVCD) today announced its financial results for the first quarter ended March 31, 2011.

Given Imaging Ltd. (NASDAQ: GIVN), a world leader in GI medical devices and pioneer of capsule endoscopy, today announced the results of new studies confirming the value of using PillCam SB to detect lesions indicative of Crohn's disease, as well as to monitor disease progression in patients with suspected and known Crohn's disease.

HearAtLast Holdings, Inc. (PINKSHEETS: HRAL) announced today that it has retained Phoenix IR Associates Inc. to assist in the design and execution of an interactive shareholder relations program for the company.

Inovio Pharmaceuticals, Inc. (NYSE Amex:INO), a leader in the development of therapeutic and preventive vaccines against cancers and infectious diseases, has reported data demonstrating long-term durability of immune responses induced by VGX-3100, its investigational DNA vaccine for treating cervical dysplasia and cancer caused by human papillomavirus (HPV).

Insulet Corporation (NASDAQ: PODD), the leader in tubeless insulin pump technology with its OmniPod® Insulin Management System, today announced financial results for the first quarter ended March 31, 2011.

Lexicon Pharmaceuticals, Inc. (Nasdaq:LXRX) announced today that it will hold its Annual R&D Day on Thursday, May 12, 2011 from 9:00 a.m. to 12:00 p.m. Eastern Time in New York, New York.  

MedeFile International, Inc. (OTCQB: MDFI) (PINKSHEETS: MDFI), a leader in Internet-enabled Personal Health Record (iPHR) management solutions, today announced that it has engaged HealthPro BioVentures, LLC with the sole objective of pursuing and structuring strategic co-marketing partnerships and healthcare IT collaborations with companies operating within the global healthcare arena.

MiMedx Group, Inc. (OTC BB: MDXG), an integrated developer, manufacturer and marketer of patent protected biomaterial-based products, announced today that it will present at the Noble Financial Capital Markets' Seventh Annual Equity Conference at the Hard Rock Hotel in Hollywood, Florida.

MMRGlobal, Inc. (OTCBB: MMRF) announced today that Nihilent Technologies, Inc. has acquired 13 million restricted Rule 144 shares of MMRGlobal at a value of more than thirty percent (30%) above market price, based on the Company's Friday, May 6th closing price.

OncoGenex Pharmaceuticals, Inc. (NASDAQ:OGXI)
today announced its first quarter financial results and provided an update on current events and activities.

OncoSec Medical Inc. (OTCBB: ONCS), a therapeutic oncology company developing innovative medical approaches to treat solid tumor cancers with unmet medical needs, announced today the cancer therapy company's tumor-destroying, tissue-sparing drug/device technology was profiled in Medical Device Daily, the news source for the high-tech medical technology industry that is relied on by thousands of industry insiders every business morning.

PDL BioPharma, Inc. (NASDAQ:PDLI) today announced that it intends to offer, subject to market and other conditions, $135 million aggregate principal amount of new convertible senior notes due May 2015 under the Company's shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on May 9, 2011.

RepliCel Life Sciences(1) (OTCQB:NCSLF) is pleased to announce the completion of the final share exchange with the shareholders of TrichoScience Innovations Inc. ("TrichoScience") resulting in TrichoScience becoming a wholly-owned subsidiary of the Company.

Given Imaging Ltd. (NASDAQ: GIVN), a world leader in GI medical devices and pioneer of capsule endoscopy, today announced the results of two new studies indicating that physicians should analyze pH levels of patients with gastroesophageal reflux disease (GERD) for periods of 48 hours or longer to strengthen symptom correlation and improve diagnostic accuracy.

ShangPharma Corporation (NYSE:SHP) ("ShangPharma" or the "Company"), a leading China-based pharmaceutical and biotechnology research and development outsourcing company, today announced that it will release its unaudited financial results for the first quarter 2011 ended March 31, 2011 on May 19, 2011.

SpectraScience, Inc. (OTCQB: SCIE), a San Diego based medical device company, today announced that it will hold a conference call to provide a general corporate update on Thursday, May 19, 2011 at 2:00pm Pacific Time / 5:00 pm Eastern Time.

SureQuest Systems, Inc., (PINKSHEETS: SUQU), a leading provider of dietary management software solutions for the healthcare industry, is pleased to announce a Joint Marketing Partnership with CareWorx, Inc., a leader in technology services and solutions for the long-term care industry.

TomoTherapy Incorporated (NASDAQ: TOMO), maker of advanced radiation therapy solutions for the treatment of cancer and other diseases, today announced that a special meeting of shareholders will be held on Thursday, June 9, 2011 to vote on the proposed acquisition by Accuray (NASDAQ: ARAY).

University General Health System, Inc. (PINKSHEETS: UGHS) today announced the filing of Forms 10Q, 10K, and 8K-A with the Securities and Exchange Commission ("SEC") covering its predecessor business known as "SeaBridge Freight Corp."

Ventrus BioSciences (NASDAQ: VTUS) is a development stage specialty pharmaceutical company focused on the development of late-stage prescription drugs for gastrointestinal disorders.



BiomedReports is not paid or compensated to report news and developments about publicly traded companies. Full disclosure can be read in the About Us Section

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