Healthcare Review: VIVUS Gets FDA’s Approval, Somaxon Jumps On Patent Settlement Print E-mail
By Staff and Wire Reports   
Wednesday, 18 July 2012 00:00
icon_SectorWatchU.S. stocks jumped sharply on Wednesday thanks to solid earnings from several technology companies including Intel Corp. Several biotech stocks are making large swings including VIVUS, Inc. at mid day session on Wednesday.

Galena Biopharma Inc (NASDAQ:GALE) shares climbed 18.60% to $2.03 after the company announced the issuance of a key patent, originally allowed in March 2012, from the U.S. Patent and Trademark Office (USPTO) covering the use of its product candidate, NeuVax(TM), a HER2/neu peptide vaccine, for inducing immunity to breast cancer recurrence in patients having low-to-intermediate IHC levels of 1+ or 2+ and a FISH rating of less than 2.0.

VIVUS, Inc. (NASDAQ:VVUS) made almost 15-year high after the U.S. Food and Drug Administration (FDA) has approved Qsymia as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index (BMI) of 30 or greater (obese), or 27 or greater (overweight) in the presence of at least one weight-related comorbidity, such as hypertension, type 2 diabetes mellitus or high cholesterol (dyslipidemia). Share of VVUS rose 12.10% to $29.66.

Somaxon Pharmaceuticals, Inc. (NASDAQ:SOMX) shares soared 92.19% to $0.500 after the company announced that it has entered into separate settlement arrangements with Mylan Inc. and its subsidiary, Mylan Pharmaceuticals, Inc. and Par Pharmaceutical Companies, Inc. and its subsidiary Par Pharmaceutical, Inc. to resolve pending patent litigation involving Silenor 3 mg and 6 mg tablets. The settlement agreement with Mylan grants Mylan the exclusive right to begin selling an authorized generic version of Silenor (i.e., a generic version sold under Somaxon's New Drug Application) on January 1, 2020, or earlier under certain circumstances.

AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) shares climbed 1.83% to $16.14 after the company reported preliminary results from the second phase III study from its global registrational program for Feraheme(R) (ferumoxytol) in patients with iron deficiency anemia (IDA) regardless of the underlying cause. The study being reported today, IDA-301, compared Feraheme treatment to placebo and enrolled 808 patients at 136 sites in the US, Canada, India, Latvia, Hungary, and Poland.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) shares climbed 5.65% to $15.52 after the company announced it has restructured its strategic alliance with Mundipharma International Corporation Limited and Purdue Pharmaceutical Products L.P. by mutual agreement. With this restructuring, Infinity regains worldwide rights for its phosphoinositide-3-kinase (PI3K) program, its fatty acid amide hydrolase (FAAH) program and its early discovery programs.

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