|Johnson & Johnson acquires Micrus Endovascular Corp|
|By BioMedReports.com Staff|
|Monday, 12 July 2010 18:55|
Below is a list of the companies that made news in the healthcare sector on Monday, July 12, 2010.
Johnson & Johnson (NYSE:JNJ) and Micrus Endovascular Corporation (Nasdaq:MEND), a global developer and manufacturer of minimally invasive devices to address hemorrhagic and ischemic stroke, today announced a definitive agreement whereby Micrus Endovascular will be acquired in a cash for stock exchange.
Under the terms of the agreement, Micrus Endovascular stockholders will receive at closing $23.40 for each outstanding Micrus Endovascular share. The value of the transaction as of the anticipated closing date is estimated to be approximately $480 million, based upon Micrus Endovascular's 20.5 million fully diluted shares outstanding.
Micrus Endovascular will join Codman & Shurtleff, Inc., the neuro device business of the DePuy Family of Companies within Johnson & Johnson. Codman and Micrus Endovascular offer innovative and complementary technologies for treating cerebral aneurysms responsible for hemorrhagic stroke.
"Stroke is a significant cause of death and disability around the world. At Micrus Endovascular, we are dedicated to developing innovative approaches to treating stroke and improving the outcomes of people impacted by this condition," said John Kilcoyne, Chairman and CEO, Micrus Endovascular. "By joining forces with Codman & Shurtleff, we believe we could have an even greater impact on treating this condition that accounts for one out of 18 deaths in the U.S."
Alexza Pharmaceuticals, Inc. (Nasdaq:ALXA) announced today that it has selected AZ-007 (Staccato zaleplon) for the treatment of insomnia as the next product candidate to move forward into active development. This decision follows an Alexza technology and portfolio review during the first half of 2010. In addition, Alexza has created Addicere Therapeutics, Inc., a wholly-owned subsidiary, to develop all applications of the Staccato technology for the pharmaceutical uses of nicotine.
BSD Medical Corporation (NASDAQ: BSDM) today announced that it has received review questions from the U.S. Food and Drug Administration (FDA) regarding the 510(k) submission the Company filed for premarket clearance of the Company's Phase II MicroThermX® Microwave Ablation System (MTX-180) for ablation of soft tissue.
"We expected questions from the FDA as a routine part of the 510(k) submission review process," stated Harold Wolcott, President of BSD. "We plan to provide a timely response to the questions from the FDA. While we cannot predict the ultimate outcome or when the review will be completed, we are optimistic about the outcome."
The clearance from the FDA of the 510(k) submission will authorize commercial distribution of the MTX-180 in the United States and allow the Company to provide an optimized system targeted to the growing therapeutic interventional oncology market. The interventional oncology world-wide market for 2009 was estimated at $210 million, and this market is projected to grow to $480 million by 2015.
The MTX-180 employs precision-guided microwave energy to ablate (destroy) soft tissue using a single-patient-use disposable antenna. The MTX-180 was developed to provide treatments as a stand-alone therapy.
Cumberland Pharmaceuticals Inc. (Nasdaq:CPIX) today announced that data supporting the efficacy of Caldolor in treating fever associated with falciparum malaria was published in the July edition of the peer-reviewed American Journal of Tropical Medicine and Hygiene. The study, which is the first to document an antipyretic effect of an injectable non-steroidal anti-inflammatory drug (NSAID) on fever caused by malaria, demonstrated that patients who received intravenous ibuprofen experienced a greater reduction in their temperatures than those who received placebo.
Neoprobe Corporation (OTCBB: NEOP), a diversified developer of innovative oncology surgical and diagnostic products, today announced that it had successfully completed the preliminary review of information to be contained in the chemistry, manufacturing and control (CMC) module of its proposed New Drug Application (NDA) for Lymphoseek® with the U.S. Food and Drug Administration (FDA). The CMC review with FDA follows earlier reviews of the clinical and pre-clinical data module components under the current Investigational New Drug (IND) process.
Protalix BioTherapeutics, Inc. (NYSE-Amex: PLX), announced today that the Company's New Drug Application for taliglucerase alfa has been accepted for review by the U.S. Food and Drug Administration. The FDA granted taliglucerase alfa a standard review time of ten months, assigning a Prescription Drug User Fee Act (PDUFA) action date of February 25, 2011. Taliglucerase alfa is the Company's proprietary plant cell expressed recombinant form of human Glucocerebrosidase (GCD) which is being developed for the treatment of Gaucher disease under a Special Protocol Assessment (SPA) with the FDA. Following the completion of a phase III clinical trial of taliglucerase alfa, the Company completed the submission of a rolling NDA with the FDA in April 2010.
Advaxis, Inc., (OTCBB: ADXS), the live, attenuated Listeria monocytogenes (Lm) immunotherapy company, is pleased to announce the hiring of Dr. Reshma Singhas a Senior Scientist.
Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) announced today that it has selected AZ-007 (Staccato zaleplon) for the treatment of insomnia as the next product candidate to move forward into active development.
Alexion Pharmaceuticals, Inc. (Nasdaq: ALXN), today announced that the Company will report its financial results for the second quarter ended June 30, 2010 on Thursday, July 22, 2010 before the financial markets open.
Allos Therapeutics, Inc. (NASDAQ:ALTH), a biopharmaceutical company committed to the development and commercialization of innovative anti-cancer therapeutics, today announced that the Company will report its financial results for the second quarter ended June 30, 2010 on Wednesday, July 28, 2010 before the financial markets open.
Anika Therapeutics, Inc. (Nasdaq: ANIK), a leader in products for tissue protection, healing and repair, based on hyaluronic acid ("HA") technology, announced today that they had been served with a complaint alleging patent infringement with respect to the MONOVISC product by Genzyme Corporation.
Axxess Pharma, Inc. (PINKSHEETS: AXXE), a pharmaceutical company specializing in the marketing and distribution of both prescription and non-prescription medical products, is pleased to announce they will be signing an exclusive license agreement to manufacture and distribute a unique FDA approved high potency cough and cold capsule.
Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection, and other innovative technologies, today announced the signing of a Letter of Intent (LOI) with Lanzhou Sanhuan New Technology Development Ltd. of Ganzu, China.
Biogen Idec (NASDAQ: BIIB) and Swedish Orphan Biovitrum AB (STO: SOBI) today announced results from a Phase 1/2a open-label, dose-escalation, safety and pharmacokinetic study of the companies' long-lasting, fully-recombinant factor IX Fc fusion protein (rFIXFc) in hemophilia B patients.
Callisto Pharmaceuticals, Inc. (OTCBB: CLSP.OB), announced today that it adjourned its annual stockholders' meeting held on July 9, 2010 due to lack of a quorum.
Columbia Laboratories, Inc. (Nasdaq: CBRX) announced today that as of July 8, 2010, its Board of Directors has appointed G. Frederick Wilkinson, Executive Vice President, Global Brands, of Watson Pharmaceuticals, Inc. (NYSE: WPI), as a director of the Company.
Covidien (NYSE: COV), a leading global provider of healthcare products, today announced the successful completion of its tender offer through its subsidiary, COV Delaware Corporation, to purchase all of the outstanding shares of common stock of ev3 Inc.
Emergent BioSolutions Inc. (NYSE:EBS) is hosting "Bioterrorism Prevention, Preparedness and Response," a forum organized for members of the North Atlantic Treaty Organization (NATO) Parliamentary Assembly (PA) to raise global awareness of the importance of biopreparedness.
Endo Pharmaceuticals (Nasdaq: ENDP) today announced the expiration of the subsequent offering period of the tender offer by its wholly owned subsidiary, HT Acquisition Corp., for all of the outstanding shares of common stock of HealthTronics, Inc. (Nasdaq: HTRN). American Stock Transfer & Trust Company, the depositary for the tender offer, has advised Endo that, as of 5:00 p.m., New York City time, on July 9, 2010, the expiration of the subsequent offering period, approximately 42,011,700 shares were validly tendered and not withdrawn in the tender offer, representing approximately 92.5 percent of HealthTronics' issued and outstanding shares.
HIV-VAV Inc.(PINKSHEETS:HIVV) announced today that HIV-VAC Inc. has entered into a non binding Letter of Intent with Richard & Lange, a Mexican Corporation.
Molina Healthcare, Inc. (NYSE: MOH) today announced that it has entered into a definitive agreement to acquire Abri Health Plan, a provider of Medicaid manage care services to BadgerCare Plus and SSI Managed Care enrollees in Wisconsin.
SDIX™ (Strategic Diagnostics Inc., d/b/a SDIX, Nasdaq:SDIX), a leading provider of biotechnology-based products and services for a broad range of life science, biotechnology, diagnostic, and food safety applications, today commercially launched the RapidChek® SELECT™ Salmonella Enteritidis testing system.
Stellar Biotechnologies, Inc. (PINKSHEETS:SBOTF) (TSX-V: KLH) is pleased to announce that eminent biochemist, Malcolm Gefter, Ph. D. has accepted appointment to both Stellar's Board of Directors and to its Scientific Advisory Board (SAB).
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) will announce its second quarter 2010 financial results on Wednesday, July 28, 2010 after the financial markets close.
ZymoGenetics, Inc. (NASDAQ: ZGEN) announced today that it will report second quarter financial results on Tuesday, August 3, 2010 after market close.
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.