|Aegis Capital Reiterates Buy Rating on China Biologic Products; Transcept Gets a Big Boost from U.S. Regulators|
|By Staff and Wire Reports|
|Friday, 11 January 2013 21:51|
In a published report, Aegis Capital Corp. reiterated its Buy rating on China Biologic Products (NASDAQ: CBPO), and raised its price target to $22.00 price target. Aegis Capital noted, “Recently, China's National Development and Reform Commission (NDRC) announced a new round of maximum retail price adjustment for drugs in the categories of respiratory, antipyretic, analgesic and specialty medications, with average price reduction of 15%, effective on Feb 1st, 2013. Interestingly, price ceilings for plasma-based products were raised. Notably, prices for various doses of human albumin would see an increase of approximately 5%. We note that the price ceiling of 10g/50ml human albumin, which is used as a representative by NDRC, was set at ¥330 in 2000 and reduced to ¥259 in 2006. However, it was raised to ¥360 in 2007 to balance the short supply and strong demand, with imported human albumin being allowed to charge 5% more. The current price of ¥378 essentially lets domestic manufacturers charge the same price as their foreign counterparts in China. Human albumin represents 54.5% and 45.3% of China Biologic's 2011 and 9-month 2012 total revenue, respectively.”
China Biologic Products closed on Thursday at $18.90.
Transcept Pharmaceuticals (NASDAQ:TSPT) gets a big boost from U.S. regulators after the FDA declined to lower the recommended dose of it's Intermezzo prescription sleep aid because the drug's label already recommends a lower dosage for women than men because of their smaller average size. The agency said it believes the bedtime dose of Ambien, Edluar and Zolpimist should be reduced from 10 milligrams to 5 milligrams because the drugs can impair alertness and driving ability in some people the next morning.
Daiichi Sankyo Company, Limited (TSE 4568) and ArQule, Inc. (Nasdaq: ARQL) today announced the top-line results of a randomized Phase 2 signal generation trial of tivantinib (ARQ 197) used in combination with irinotecan and cetuximab in patients with refractory or relapsed colorectal cancer (CRC). Although the trial did not meet its primary endpoint of Progression-Free Survival (PFS), the analysis of the patients enrolled (n=122) showed that median PFS was 8.3 months in the experimental arm (patients treated with irinotecan and cetuximab plus tivantinib), compared with 7.3 months in the control arm (patients treated with irinotecan and cetuximab plus placebo) (hazard ratio = 0.85, 95% CI: 0.55, 1.33).
Endeavor Power Corporation (“Endeavor Power” or the “Company”) (OTCQB: EDVP) is announcing that it has changed the name of its wholly owned operating subsidiary Parallax Diagnostics, Inc. and moved its corporate headquarters.
Generex Biotechnology Corporation (OTCBB: GNBT) today announced that Company management has scheduled an investor conference call for Thursday, January 31, 2013.
Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced the company is taking steps to suspend the availability of TREDAPTIVE™ (extended-release niacin/laropiprant) tablets worldwide. TREDAPTIVE is not approved for use in the United States.
Rapid Fire Marketing (PINKSHEETS: RFMK), a leading maker of vaporizers as well as the only publicly-traded company for vaporizers, announced today that the affiliate program for the sales of Rapid Fire Marketing's Vapor Inhalers is now open at TheCANNAcig.com.
SurgiCount Medical, Inc. (the wholly-owned operating subsidiary of Patient Safety Technologies, Inc. (OTCBB: PSTX, OTCQB: PSTX) today announced that it is joining a list of Committed Partners in sponsoring the inaugural Patient Safety, Science & Technology Summit.
Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology, today announced the promotion of Joseph Turgeon to Senior Vice President and Chief Commercial Officer (CCO).