|Healthcare Review: Insmed Incorporated, Avanir, Nektar Therapeutics, Amarin Corporation, Novavax|
|By Staff and Wire Reports|
|Thursday, 12 September 2013 13:19|
Insmed Incorporated (NASDAQ:INSM) shares climbed 6.89% to $15.98. The company on Sept. 11 announces two important patent allowances in the U.S. and Europe that strengthen the Company's global patent portfolio. Insmed is focused on the development and commercialization of ARIKACE® (liposomal amikacin for inhalation) for at least two identified orphan patient populations: cystic fibrosis (CF) patients with Pseudomonas aeruginosa lung infections and patients with non-tuberculous mycobacteria (NTM) lung infections.
Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR) shares gained 1.46% to $4.86. The company on Sept 6 announced that it has entered into a settlement agreement with Wockhardt USA, LLC and Wockhardt Ltd. (collectively, "Wockhardt") to resolve pending patent litigation in response to Wockhardt's abbreviated new drug application (ANDA) seeking approval to market generic versions of Avanir's NUEDEXTA® (dextromethorphan hydrobromide/quinidine sulfate) capsules. The settlement agreement grants Wockhardt the right to begin selling a generic version of NUEDEXTA on July 30, 2026, or earlier under certain circumstances.
Nektar Therapeutics (NASDAQ:NKTR) shares gained 4.13% to $13.86. Research analysts at Cowen and Company assumed coverage on shares of NKTR in a report released on Sept. 12. The firm set an “outperform” rating on the stock.
Additionally, the company announced its earnings results on August 8. The company reported ($0.37) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.44) by $0.07. The company had revenue of $33.86 million for the quarter, compared to the consensus estimate of $26.22 million.
Amarin Corporation plc (ADR) (NASDAQ:AMRN) stock declined 7.10% to $6.67. The company, on Sept. 9, announced that it now has 30 patents issued or allowed by the United States Patent and Trademark Office (USPTO) related to its flagship product, Vascepa® (icosapent ethyl) capsules.
Amarin recently received Notices of Allowance for U.S. Patent Application Serial Numbers 13/777,398, 13/768,897, and 13/768,869, each titled "Stable Pharmaceutical Composition and Methods of Using Same." The scope of coverage related to Vascepa represented by these applications is the broadest allowed to date.
Novavax, Inc. (NASDAQ:NVAX) shares dropped 4.73% to $3.22. The company on August 22 announced the number of shares tendered to it during the extended acceptance period for its recommended public offer to acquire all issued and outstanding shares and warrants of Isconova AB, which was first communicated on June 4, 2013, and which was extended to August 20, 2013.
Additionally, the company announced that Stanley C. Erck, President and Chief Executive Officer, will present at the 2013 Stifel Nicolaus Healthcare Conference on Thursday, September 12, 2013 at 9:45 a.m. ET in Boston, MA at the Four Seasons.