|Healthcare Review: Nordion Inc , Covidien, BioDelivery Sciences Are Top Movers|
|By Staff and Wire Reports|
|Thursday, 13 September 2012 13:54|
Market expectations for a third round of bond buying were raised after Federal Reserve Chairman Ben Bernanke spoke to an annual gathering last month, calling the weak labor market a grave concern. Several healthcare stocks are making notable news at mid day on Thursday.
Nordion Inc. (USA) (NYSE:NDZ) shares climbed 2.28% to $7.18. The company announced a strategic realignment of the business designed to focus on improving the execution of Nordion’s business strategy. The plan includes transitioning Nordion to a Business Unit model with two distinct Business Units: Targeted Therapies and Specialty Isotopes, each of which will be supported by centralized corporate functions.
Vical Incorporated (NASDAQ:VICL) stock increased 7.16% to $4.04 after the company announced a worldwide, nonexclusive license to Bristol-Myers Squibb Company of Vical's patented platform DNA immunization technology and its Vaxfectin adjuvant for use in the production of antibodies. Under the agreement, Bristol-Myers Squibb will use Vical's technology to generate antibodies with potential therapeutic uses in humans.
Covidien plc (NYSE:COV) shares gained 0.30% to $57.02. The company said it will phase-out a plant in Seneca, S.C., over three years and move those operations to Costa Rica. The facility employees just under 600 full-time and temporary contract employees.
Moreover, the company announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the LigaSure curved, small jaw, open sealer/divider surgical instrument to be used in ear, nose and throat (ENT) procedures.
Additionally, Covidien‘s stock had its “overweight” rating reiterated by investment analysts at Barclays Capital.
BioDelivery Sciences International, Inc. (NASDAQ:BDSI) stock increased 7.01% to $5.81 after the company reported a positive outcome of its pivotal pharmacokinetic study for BEMA Buprenorphine/Naloxone or BNX, that is being developed for the potential treatment of opioid dependence and utilizes the patented BioErodible MucoAdhesive or BEMA technology to deliver buprenorphine combined with the opioid antagonist naloxone.
Dendreon Corporation (NASDAQ:DNDN) stock fell 3.65% to $4.76. WallachBeth assumed coverage on shares of DNDN in a report released on Sept 5. The firm issued a buy rating on the stock. The company is a biotechnology company focused on the discovery, development and commercialization of therapeutics that may improve cancer treatment options for patients.