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  • All that Jazz (NASDAQ:JAZZ). Specialty pharma up big at mid day Print E-mail
    By Jamie Tera   
    Wednesday, 10 June 2009 12:24

    Stocks have turned lower on fears that creeping interest rates may choke off the growing economic recovery. The Federal Reserve's beige book report showed that conditions have remained weak and even deteriorated with commercial real estate and labor markets continuing to suffer.
    In healthcare, the action has been pretty stagnant as well except for a couple of  notable advancers who actually appear to be picking up steam this afternoon.

    Jazz Pharmaceuticals, Inc.(NASDAQ:JAZZ), a specialty pharmaceutical company, develops and commercializes products for neurology and psychiatry primarily in the United States is seeing huge volume this morning after the company announced after the close that data from the company's first Phase III clinical trial of sodium oxybate (JZP-6) for the treatment of fibromyalgia will be presented this week during the Associated Professional Sleep Societies (APSS) 2009 Annual Meeting in Seattle, Washington and also during the European League Against Rheumatism (EULAR) Congress in Copenhagen, Denmark. Last trade was $4.09 +3.07 (301.47%)

    K-V Pharmaceutical Co.(NYSE:KV.A) is in play up to $2.06 +0.38 (22.62%) after the company announced it has entered into a settlement agreement with Purdue Pharma L.P. of Stamford, Conn., in regard to the patent infringement lawsuit between the two companies. Under the terms of the settlement agreement Purdue will grant KV Pharmaceutical Company certain limited non-exclusive, royalty-bearing, non-transferable rights to sell in the United States generic versions of the drug OxyContin(R) (oxycodone HCl controlled-release) for a limited period of time.

    Shares of Novavax, Inc.(Public, NASDAQ:NVAX) continue to rise to $3.11 +0.43 (16.04%) as news of the World Health Organization's increased concern over an "Imminent" Flu Pandemic continues to make headlines. Novavax, with it's VLP technology, was one of the firms mentioned in our Flu Vaccine Initiative report (05/25/08).

    The other company in that report is Hemispherx BioPharma, Inc (AMEX:HEB), whose shares continue to float in oblivion as the FDA has yet to report whether HEB's Ampligen drug has received approval for CFS. Shares were down (-11.27%) minus $0.32 to $2.52. The company is waiting for more information just like the shareholders.

    From our FDA Calendar, Trinity Biotech (NASDAQ:TRIB) is up 21.83% to $3.85 as they await two responses from the Food and

    Drug Administration.

    The morning's biggest dropper is Sequenom, Inc.(Public, NASDAQ:SQNM)- whose shares are giving up some of yesterday's lofty gains which were attributed to chatter that SQNM may be close to resolving issues of mishandled data for SEQureDx Trisomy 21 Test.

    Shares for Psychiatric Solutions, Inc.(Public, NASDAQ:PSYS) are down 11.55% to $18.60 a day after the Nevada State Health Division suspended the license of one of the company's hospitals and

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    ordered the facility closed within 30 days.

    Disclosure: No Positions




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