|Healthcare Review: Vertex Pharmaceuticals, InterMune, Viropharma, Luminex Corporation, Santarus|
|By Staff and Wire Reports|
|Tuesday, 15 January 2013 14:19|
Retailer stocks advanced and helped to minimize the market's decline after a government report that retail sales rose more than expected in December was seen as a favorable sign for fourth-quarter growth. However, a separate report showed manufacturing activity in New York state contracted for the sixth month in a row in January.
Following are the notable movers at mid day on Tuesday:
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) stock fell 1.31% to $46.72 after Lazard Capital Markets cut shares of VRTX from a buy rating to a neutral rating in a research report sent to investors today. Additionally, analysts at Barclays Capital cut their price target on shares of Vertex Pharmaceuticals from $69.00 to $68.00 in a research note to investors last week. They now have an overweight rating on the stock.
InterMune, Inc. (NASDAQ:ITMN) shares decreased 4.50% to $9.54 after the company announced that it plans to offer, subject to market and other conditions, $85.0 million aggregate principal amount of convertible senior notes due 2017 and 12,500,000 shares of its common stock in concurrent underwritten public offerings. InterMune expects to grant the underwriters 30-day options to purchase up to an additional $12.75 million aggregate principal amount of convertible senior notes and up to an additional 1,875,000 shares of common stock in connection with the offerings.
Viropharma Inc (NASDAQ:VPHM) shares climbed 6.47% to $26.01. The company’s lawsuit against the U.S. Food and Drug Administration over generic forms of its antibiotic Vancocin was dismissed by a federal judge. The company failed to produce new evidence following rejection in April of its request for a court order to block FDA approval of three generic versions of Vancocin, U.S. District Judge Ellen Segal Huvelle in Washington said today in her ruling.
Luminex Corporation (NASDAQ:LMNX) shares gained 0.80% to $17.62 in the morning hour after the company announced today that it has received FDA clearance for its xTAG Gastrointestinal Pathogen Panel (GPP), the first comprehensive molecular diagnostic assay that tests for greater than 90% of bacterial, viral, and parasitic causes of infectious gastroenteritis in a single assay. The xTAG GPP assay can be an important clinical tool in the management of gastrointestinal infections, and is now available in the United States.
Santarus, Inc. (NASDAQ:SNTS) shares gained 11.51% to $12.58 after the company announced that the U.S. Food and Drug Administration (FDA) has approved UCERIS? (budesonide) extended release tablets for the induction of remission in patients with active, mild to moderate ulcerative colitis. The company expects to commence the commercial launch of UCERIS in March 2013.