RxNews Recap for Friday 12-18-09 Print E-mail
By Mary Davila   
Friday, 18 December 2009 21:03

Below is a list of the companies that made news in the healthcare sector on Friday, December 18, 2009.

Biotech investors interested in seeing more details about these companies and a full list of their related stories can do so by typing the stock ticker symbol into the Stock Quotes box on the right side of the page.

Akorn, Inc. (NASDAQ: AKRX) today announced that it failed to reach an amicable resolution to a longer term and strategic business arrangement with the supplier of its Tetanus Diphtheria (“Td”) vaccine and as a result will be exiting the business.

American Oriental Bioengineering, Inc. (NYSE:AOB)
, ("the Company" or "AOBO"), a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter ("OTC") products, today announced that 158 of the Company's drugs have been included in China's National (Medical) Insurance Catalog (the "2009 NIC").

Bristol-Myers Squibb Company (NYSE: BMY) and Mead Johnson Nutrition Company (NYSE: MJN) announced today that based on preliminary results the offer by Bristol-Myers Squibb to exchange up to 170,000,000 shares of common stock of Mead Johnson for outstanding shares of Bristol-Myers Squibb common stock that are validly tendered and not validly withdrawn was oversubscribed.

Celgene Corporation (Nasdaq:CELG) today announced the National Cancer Institute (NCI), a part of the National Institutes of Health, reported initial data from a Phase III, randomized, double-blind, multi-center clinical study led by the Cancer and Leukemia Group B (CALGB).

CombinatoRx, Incorporated (NASDAQ: CRXX)
and Neuromed Pharmaceuticals Inc., a privately held biopharmaceutical company, today announced that their respective stockholders approved the merger between CombinatoRx and Neuromed and all other related proposals at each of their stockholder meetings on December 18, 2009.

LAM Industries Inc. (PINK SHEETS:LAIC) ("LAM") announces the acquisitions of Viorra Bio Medical Inc.,(a Toronto, Ontario based company) and Ixora Bio Medical Company Inc. (a Delaware based company), provides corporate update as stated in its recently filed 15c-211 disclosure documents and updated financial statements posted on pinksheets.com In March of 2009 LAM changed its name from LAM Pharmaceuticals Corp. to LAM Industries Inc.

Luna Innovations Incorporated (NASDAQ: LUNA) announced today that a bankruptcy court hearing has been set for January 12, 2010, to decide whether to confirm Luna's Plan of Reorganization and allow Luna to emerge from bankruptcy.

NexMed, Inc. (Nasdaq: NEXM), a specialty CRO and a developer of products based on the NexACT® technology, today announced that it received a letter from the NASDAQ Listing Qualifications Panel (the “Panel”) on December 17, 2009, informing the Company that the Panel had granted the Company’s request to remain listed on the NASDAQ Stock Market, subject to the condition that, on or before March 31, 2010, the Company evidence stockholders’ equity of at least $2.5 million or a market value of listed securities of at least $35 million, which are the applicable minimum requirements for the continued listing of the Company’s securities on The NASDAQ Capital Market.

Safeway Inc. (NYSE: SWY) is reminding consumers to protect themselves against both seasonal flu and H1N1 flu during the holidays. Safeway is providing the seasonal flu vaccine in all of its 1,730 stores and the H1N1 flu vaccine in 17 states.

Taro Pharmaceutical Industries Ltd. (Pink Sheets: TAROF) announced that it has begun Phase I clinical trials in Canada with T2007, the second in the Company’s class of proprietary non-sedating barbiturate compounds to be approved for studies in humans.

Thermo Fisher Scientific Inc. (NYSE: TMO) announced today the expiration and final results of the company’s previously announced tender offer (the “Offer”) to purchase for cash any and all of its outstanding 2.50% Convertible Senior Notes due 2023 (the “Convertible Notes”).

US-based pharmaceutical company Radient Pharmaceuticals Corporation (RPC) (NYSE: RPC) announced today its China-based subsidiary Jade Pharmaceutical, Inc. ("JPI"), of which RPC owns approximately 98%, has signed a strategic advisory agreement with Security Research Associates, Inc. ("SRA").

"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

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