|Healthcare Review: Herbalife, Vanda Pharmaceuticals, NeoGenomics, Ensign Group, BioLife Solutions|
|By Staff and Wire Reports|
|Thursday, 17 July 2014 13:20|
Herbalife ($HLF) publishes an updated refutation of Pershing Square's statements questioning its business model and the satisfaction of its many distributors. The company has created a website, iamherbalife.com, where Herbalife customers and distributors share their positive experiences.
In a regulatory filing, Vanda Pharmaceuticals ($VNDA) discloses that it seeks an award of $539M in its arbitration proceeding with Novartis (NVS -1.1%) over the licensing of Fanapt. Novartis, unsurprisingly, has filed a counter-claim. It expects the process to be completed in 12 to 18 months.
Shares of NeoGenomics (NASDAQ:NEO) jump on a 5x surge in volume in response to its announcement of Q2 results and updated guidance.Q2 net revenues: $20.7M (+32.5%); Cost of Revenues: $10.4M (+23.1%); Gross Profit: $10.2M (+43.0%); Operating Expenses: $9.7M (+45.3%); Operating Income: $578K (+14.5%); Net Income: $274K (+0.4%); EPS: $0.01; Quick Assets: $5.0M (+3.9%); CF Ops: $5.3M (+894%).
Ensign Group ($ENSG) acquires Keiro Nursing Home, a 300-bed skilled nursing facilty in Lincoln Heights, South Bay Keiro Nursing Home, a 98-bed skilled nursing facility in Gardena, Keiro Retirement Home, a 127-unit assisted living facility in Boyle Heights and Keiro Intermediate Care Facility, a 90-bed operation also in Boyle Heights.
Shares of thinly-traded BioLife Solutions ($BLFS) jump on a 3x surge in volume (turnover of ~210K shares) in response to the signing of a three-year manufacturing services contract with the Florida-based biotech firm Somahlution LLC. Under the terms of the agreement, BioLife will manufacture DuraGraft, a tissue preservation solution for the storage of harvested veins used in vascular access surgeries. DuraGraft is an Endothelial Damage Inhibitor that protects vascular endothelium and its associated architecture. Financial terms of deal are not disclosed.