Prospect Medical acquired, shares soar Print E-mail
By Staff   
Monday, 16 August 2010 18:17
Below is a list of the companies that made news in the healthcare sector on Monday, August 16, 2010.
Prospect Medical Holdings, Inc. (Nasdaq: PZZ) announced today that it has entered into a definitive merger agreement to be acquired for $8.50 per share in cash by an entity sponsored by Leonard Green & Partners, L.P. in which certain stockholders of Prospect will also participate. The total transaction value is approximately $363 million, including the assumption of approximately $158 million in Prospect’s net debt.

The merger price represents a 38.9% premium over the closing sale price of Prospect shares on August 13, 2010, and a 29.4% premium to the volume weighted-average closing sale price of approximately $6.57 during the 30 trading days prior to that date.

Prospect Medical Holdings owns and operates five community-based hospitals in the greater Los Angeles area, and manages the provision of healthcare services of HMO enrollees in southern California, through its network of specialist and primary care physicians.

Shares rose $2.42 or 39.54% to $8.54.

USANA Health Sciences, Inc. (NASDAQ:USNA) today after the bell announced that it has acquired BabyCare Ltd, a China-based direct selling company that develops, manufactures and sells nutritional products for the entire family, with an emphasis on infant nutrition. Founded in 1999, privately held BabyCare Ltd is headquartered in Beijing, China, with operations in 21 cities and 16 provinces. BabyCare’s products are sold through a growing distributor sales force, utilizing a commission-based compensation plan under a license to engage in direct selling activities in the Municipality of Beijing. BabyCare is working to obtain similar licenses in the other provinces in which it operates. This direct selling license allows BabyCare to engage non-employee distributors to sell BabyCare’s products, apart from the company’s traditional service centers. The purchase price for the shares consisted of $45 million in cash and 400,000 shares of USANA stock.

BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) today announced that its partner, Green Cross Corporation has received marketing and manufacturing approval from KFDA (Korean Food & Drug Administration) for intravenous (i.v.) peramivir to treat patients with influenza A & B viruses, including pandemic H1N1 and avian influenza. Green Cross Corp. intends to launch peramivir under the commercial name PeramiFlu in South Korea.

Cell Therapeutics, Inc. (Nasdaq and MTA: CTIC) announced today that it has received notice that the European Medicines Agency ("EMEA") has validated the expanded Pediatric Investigation Plan ("PIP") that CTI filed in July for pixantrone for the treatment of relapsed or refractory, aggressive non-Hodgkin's lymphoma (NHL). Following the validation, the EMEA Pediatric Committee (the "PDCO") will review and comment or approve the content of pediatric plan. Once the PIP is approved, CTI will submit the Marketing Authorization Application ("MAA") for pixantrone in the E.U. later this year. The pediatric program will study pixantrone in pediatric patients aged 6 months to 18 years with the goal of determining the comparative safety and effectiveness of pixantrone compared to doxorubicin in pediatric lymphoid cancers.

Cryo-Cell International, Inc. (OTCBB:CCEL) one of the world's largest and most established family cord blood banks today announced that it has engaged Morgan Joseph LLC, a full service investment bank, to evaluate strategic acquisition opportunities available to enhance value for Cryo-Cell's shareholders. Morgan Joseph's Healthcare Investment Banking Group will serve as the Company's exclusive financial advisor and investment banker to evaluate a broad range of strategic growth acquisitions for Cryo-Cell's global cord blood banking business and the Company's proprietary Celle menstrual stem cell technology portfolio and to manage any prospective transaction process that may evolve from such evaluation.

Also Monday:

A5 Laboratories Inc. (A5 Labs (OTCBB:AFLB) today announced the appointment of Ms. Valentyna Navala to the position of Director of Microbiology and Interferon Clinical Programs and Mr. Chakib Rhofir to the position of Director of CRO Scientific Affairs.

Adeona Pharmaceuticals, Inc. (AMEX:AEN) announced today its second quarter 2010 financial results and recent achievements.
AMRI (NASDAQ: AMRI) announced today that it has been selected as the inaugural winner of the Pfizer Route Design Innovation Award, beating out 40 companies who were invited to share innovative ideas for process chemistry and large scale Active Pharmaceutical Ingredient (API) production. Pfizer will present the company with the award at the AMRI 2010 Integrated Drug Discovery Symposium to be held in Albany NY, October 13-14. AMRI will also receive an honorarium for its win.
A.P. Pharma, Inc. (NASDAQ: APPA), a specialty pharmaceutical company, today reported financial results for its second quarter ended June 30, 2010.
ARYx Therapeutics, Inc. (NASDAQ:ARYX) today announced that it has secured bridge financing to allow ARYx time and resources to potentially complete a transaction that could create significant value for stockholders. ARYx also released its financial results for the second quarter of 2010.
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 report they have generated $1.3 million in annual sales from their non-constipating multi-vitamin Triferrex 150.
BioPharm Asia, Inc.(OTCBB: BFAR) announced today that its newly-acquired subsidiary, Beijing Zhihe Ruikang Hospital Management Ltd., is negotiating to acquire a controlling interest in Shandong Weifang Municipal Hospital.
BioTime, Inc. (NYSE Amex:BTIM) today reported financial results for the quarter ended June 30, 2010 and provided an update on recent corporate developments.
Bristol-Myers Squibb Company (NYSE:BMY) announced today that belatacept, an investigational selective T cell co-stimulation blocker being studied for use in solid organ transplantation, will be the subject of seven oral clinical presentations related to kidney transplantation at the 23rd International Congress of The Transplantation Society, being held August 15–19, 2010, in Vancouver, British Columbia, Canada.
Bruker Corporation (NASDAQ: BRKR) today announces the signing of an agreement to acquire the Scanning Probe Microscopy (SPM) and Optical Industrial Metrology (OIM) instruments business from Veeco Instruments, Inc. (NASDAQ: VECO) for $229 million in cash.
CEL-SCI Corporation (NYSE AMEX: CVM) reported today financial results for its third fiscal quarter for the period ended June 30, 2010.
China Biologic Products, Inc. (Nasdaq:CBPO) one of the leading plasma-based biopharmaceutical companies in the People's Republic of China ("PRC"), operating through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co. Ltd. ("Taibang") and Guiyang Dalin Biologic Technologies Co., Ltd. ("Dalin") and its equity investment in Xi'an Huitian Blood Products Co., Ltd. ("Huitian"), today reported financial results for its second quarter ended June 30, 2010.
China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) which operates a retail pharmacy chain in the People's Republic of China (the "PRC"), today reported its financial results for the fiscal quarter ended June 30, 2010.
EntreMed, Inc. (Nasdaq:ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer, today reported financial results for the three and six-month periods ending June 30, 2010.  
Gamma Pharmaceuticals Inc. (PINKSHEETS: GMPM): announced that manufacturing is under way for several of its product lines pursuant to customer purchase orders, including Gamma's $48.0 million annualized guaranteed sales contract announced March 3rd 2010, and that shipping to retailers is expected to begin soon.
HemaCare Corporation (OTCBB:HEMA) today announced that it has named Anna Stock as Chief Operating Officer and Lisa Bacerra as Chief Financial Officer effective immediately.
Inovio Pharmaceuticals, Inc. (NYSE AMEX: INO) today reported financial results for the quarter ended June 30, 2010.
Interleukin Genetics, Inc. (OTCQB: ILIU) today announced that trading of shares of the Company's common stock will be transferred from the NYSE Amex to the OTCQB™ Marketplace effective today, August 16, 2010.
Jiangbo Pharmaceuticals, Inc. (Nasdaq:JGBO) today announced that the Company received approval from the Shandong Food and Drug Administration ("Shandong FDA") to start the sales of Felodipine sustained release ("SR") tablets.
LecTec Corporation (OTCBB: LECT) announced today that it has released its 2010 second quarter financial information. LecTec's cash and cash equivalents decreased $6,132,024 for the six month period ended June 30, 2010, to $9,634,083 from cash and cash equivalents of $15,766,107 at December 31, 2009.
Lotus Pharmaceuticals, Inc. (OTC Bulletin Board:LTUS) a growing developer, manufacturer and seller of medicine and drugs in the People's Republic of China (the "PRC"), reported today its financial results for the quarter and six months ended June 30, 2010.
Medco Health Solutions, Inc. (NYSE:MHS) and United BioSource Corporation (UBC) today announced a definitive agreement under which Medco will acquire closely held UBC in an all-cash transaction valued at approximately $730 million.  
MMRGlobal, Inc. (OTCBB: MMRF) today filed its quarterly statement for the six months ended June 30, 2010.
NanoViricides, Inc. (OTC BB: NNVC.OB) reports that its anti-Herpes drug candidates demonstrated significant efficacy in the recently completed cell culture studies.
NeoStem, Inc. (NYSE Amex:NBS) an international biopharmaceutical company with product and service revenues, global research and development capabilities and operations in three distinct business units, U.S. adult stem cells, China adult stem cells, and China pharmaceuticals is today providing results of its second quarter 2010.
Nile Therapeutics, Inc. (Nasdaq:NLTX), a company focused on the development of novel therapeutics for heart failure patients, today announced its second quarter financial results for 2010.
Nutrastar International Inc. (OTC Bulletin Board:NUIN), a leading nutraceutical company which produces and distributes Chinese Golden Grass ("Cordyceps Militaris") and other specialty food products, today announced financial results for their three and six months ended June 30, 2010.
Pernix Therapeutics Holdings, Inc. (NYSE Amex: PTX), a specialty pharmaceutical company primarily focused on the pediatric market, today announced results for the quarter and six months ended June 30, 2010.
Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today Mr. Mathi Senapathi has joined the Company's executive management team as Director of Manufacturing, responsible for the manufacturing of RPC's Onko-Sure® in vitro diagnostic (IVD) cancer test kits.
Repros Therapeutics Inc. (NasdaqCM:RPRX) today announced that Nasdaq has granted the Company until October 31, 2010 to meet the minimum bid price requirement of the Nasdaq Capital Market. Listing Rule 5550(a)(2) requires the Company to maintain a minimum bid price of $1.00 for a minimum of ten consecutive trading days.
SANUWAVE Health, Inc. (OTCBB: SNWV) an emerging medical technology company focused on the development and commercialization of non-invasive, iological response activating devices in regenerative medicine, today announced that the Company will showcase their newest device, Profile, which incorporates innovative Diffused Acoustic Pressure (DAP) technology, at the 20TH Biennial Congress of the International Society of Aesthetic Plastic Surgery (ISAPS) beginning during exhibition yesterday, August 15th, and running through August 18th, 2010 in San Francisco, CA.
Titan Pharmaceuticals, Inc. (OTC Bulletin Board:TTNP) today reported financial results for the second quarter ended June 30, 2010., Inc. (NASDAQ: VITC), a leading online retailer and direct marketer of health and wellness products, today reported financial results for the second quarter ended June 30, 2010.
Weikang Bio-Technology Group Co., Inc. (OTC Bulletin Board:WKBT) a leading developer, manufacturer and marketer of Traditional Chinese Medicine (TCM), Western prescription and OTC pharmaceuticals and other health and nutritional products in the People's Republic of China, today announced its fiscal 2010 second quarter results for period ended June 30, 2010.
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.

"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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