Healthcare Review: Repligen, Rosetta Genomics, Alnylam Pharamaceuticals, Endo International, Biostar Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Friday, 07 March 2014 02:42
U.S. stocks rose in early trading on Thursday, with the S&P 500 at a fresh record intraday high following upbeat labor market data, while traders kept an eye on developments in Ukraine. In a boost to riskier assets, the euro hit its highest against the U.S. dollar since late December after the European Central Bank kept interest rates on hold, shaking out bets of a cut in rates. Crimea's parliament voted on Thursday to join Russia and its Moscow-backed government set a referendum for March 16 on the decision, in an escalation of the crisis between Russia and the West over the Ukrainian Black Sea peninsula.

Shares of Repligen ($RGEN) take a dive in response to the company's earnings today. Shares initially plunged almost 16% in heavy volume before recovering a bit.Net income for 2013 grew 11% on a revenue increase of 9.5%.Guidance for 2014 includes revenues of $52M - $55M, 53% product gross margin, total income of $7M - $9M and year-end quick assets of $84M - $87M.Consensus estimates for 2014 are earnings of $.22/share on revenues of $53M.

Zacks Small Cap Research initiates coverage on Rosetta Genomics ($ROSG) with an Outperform rating. Analysts like the company's microRNA platform and establish a price target of $10.Shares currently exchange hands at $5.30.

China-based Biostar Pharmaceuticals ($BSPM +21.8%) signs a letter of intent with the Research Institute of Pharmaceuticals at Shaanxi University of Chinese Medicine to develop a drug for liver cancer based on Oleanolic Acid injection. Biostar's has found that the "AO" factor in Oleanic acid is "remarkably effective in killing the Hepatitis B virus, and it may also be used to kill cancer cells."

Alnylam Pharamaceuticals ($ALNY) finalizes its buy of Merck's ($MRK) Sirna Therapeutics that was previously disclosed on January 12.The total purchase price is $175M ($25M cash and $150M in ALNY common stock).The transaction represents a significant haircut for Merck considering the $1.1B cash price it paid for Sirna in 2006.

Endo International ($ENDP) treatment for adult men with hypogonadism, AVEED (testosterone undecanoate) injection, is now FDA-approved. The disease is associated with low levels or absence of the hormone testosterone. The product produces serum testosterone in the normal range by administering injections 4 weeks after the initiation of therapy and every 10 weeks thereafter. It will be commercially available this month.

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