Healthcare Review: VIVUS , Healthways, Arena Pharmaceuticals, Sunesis Pharmaceuticals, Savient Are Notable Movers Print E-mail
By Staff and Wire Reports   
Friday, 19 October 2012 12:56
Poor earnings reports from three companies in the Dow Jones industrial average — Microsoft, General Electric and McDonalds — sent indexes down sharply Friday, marking a sour end to an otherwise strong week in the stock market.  

Following are the notable movers at mid day in Friday’s session:

shares fell 1.66% to $20.71 after the company announced that is has received the formal opinion from the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) following their October 15-18 meeting. As expected, the CHMP recommended against approval of the Marketing Authorization Application (MAA) for Qsiva (phentermine/topiramate ER) for the treatment of obesity in the European Union.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)
shares fell 2.67% to $9.29 in the last trading session. The company, last week, announced the initiation of dosing in a Phase 1 multiple dose clinical trial of APD811, a novel oral drug candidate discovered by Arena that targets the prostacyclin (IP) receptor for the treatment of pulmonary arterial hypertension (PAH).

Healthways, Inc. (NASDAQ:HWAY)
stock dropped 6.58% to $10.37 after the company’s earnings were down nearly 47% in the third quarter compared to the same period a year ago. Earnings were $5 million, or 15 cents per diluted share, on revenue of $166.6 million. Analysts, on average, had estimated earnings of 14 cents per share on revenue of $172 million.

Additionally, Healthways and CDPHP recently revealed that they have extended by three years until 2015 their commitment to provide Healthways’ SilverSneakers Fitness Program. The understanding between the two parties has been in existence since 2004.

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS)
stock dropped 6.79% to $4.94. Sunesis Pharmaceuticals‘ stock had its “outperform” rating reaffirmed by research analysts at Cowen in a report released this month.

Additionally, the company announced two management promotions, effective October 1, 2012. Deborah A. Thomas, Ph.D., has been promoted to Vice President, Regulatory Affairs and Gene C. Jamieson has been promoted to Vice President, Chemistry, Manufacturing and Controls (CMC).

Savient Pharmaceuticals, Inc. (NASDAQ:SVNT)
jumped 4% after the company announced that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP)  has completed its scientific assessment and has issued a positive opinion recommending approval of a marketing authorization in the European Union for KRYSTEXXA® (pegloticase) for the treatment of severe debilitating chronic tophaceous gout in adult patients who may also have erosive joint involvement and who have failed to normalize serum uric acid with xanthine oxidase inhibitors at the maximum medically appropriate dose or for whom these medicines are contraindicated.

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