|Active Stock: Cerner Corporation, PharMerica Corporation, Aratana Therapeutics, Novartis, Horizon Pharma|
|By David Fowler|
|Friday, 19 September 2014 13:55|
Stocks turned mixed in afternoon trading, as investors welcomed Scottish voters' decision to remain part of the U.K., while shares of Alibaba Group Holding Ltd. BABA +35.82% made their trading debut with a sharp gain.The Dow Jones Industrial Average gained 19 points, or 0.1%, to 17285, earlier hitting an intraday record of 17350.64 in early trading. The S&P 500 index was down a point to 2011 after having reached a record of 2019.27. The Nasdaq Composite Index shed 19 points, or 0.4%, to 4574.
Cerner Corporation (NASDAQ:CERN) and athenahealth, Inc. (NASDAQ:ATHN) are working with Apple to develops apps for its mobile health service HealthKit. Earlier, EHR rival Epic Systems announced it was working with Apple. The goal is to have gather patient data from various applications and devices so doctors can review it in one place.
PharMerica Corporation (NYSE:PMC) establishes a new revolving credit facility of $310M. The new agreement increases its committed revolving line of credit by $110M while lowering the interest rate by 75 basis points. The company will use the facility for general corporate purposes and to pursue acquisitions.
Underwriters of Aratana Therapeutics Inc. (NASDAQ:PETX) public offering of 4.5M shares of common stock fully exercise their option to purchase an additional 675K shares. Net proceeds to the company will now be ~$45M.The offering is pursuant to a shelf registration filed with the SEC on July 15, 2014.
In a 768-patient 215-site Phase 3 clinical trial, Novartis AG (ADR)(NYSE:NVS) investigational compound LBH589 (panobinostat) demonstrated a statistically significant (p<0.0001) and clinically relevant 4-month improvement in median progression-free survival (PFS) in patients with relapsed or relapsed and refractory myeloma when used in combination with bortezomib and dexamethasone compared to placebo in combination with bortezomib and dexamethasone.
Horizon Pharma Inc. (NASDAQ:HZNP) shareholders approve its acquisition of Irish biotech Vidara Therapeutics. It plans to shift its domicile to Ireland today making it the first U.S. company to complete a tax inversion deal.