Endo Pharma acquires generic drug company. Depomed receives Covidian milestone payment Print E-mail
By Staff and Wire Reports   
Tuesday, 28 September 2010 19:09

Below is a look at some of the headlines for companies that made news in the healthcare sector on September 28, 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.

Endo Pharmaceuticals (Nasdaq:ENDP) announced today that it has entered into a definitive agreement to acquire Qualitest Pharmaceuticals, a leading, privately-held generics company in the U.S., for approximately $1.2 billion in cash. The combined company will deliver more comprehensive healthcare solutions across its diversified businesses in Branded Pharmaceuticals, Generics, Devices & Services in key therapeutic areas including pain and urology.

Qualitest, the sixth largest U.S. generics company as measured by prescriptions filled, is focused on cost competitive, high quality manufactured products with high barriers to entry. Qualitest has cGMP facilities in the U.S. including the ability to manufacture controlled substances, which make up approximately 40 percent of its product portfolio, and liquids, which are roughly 17 percent of its portfolio. The company brings a broad range of generics to Endo encompassing 175 product families. Thirty-two of Qualitest's products are listed among the top 250 generics by total prescription (TRx) volume. In addition, the combined company will have an extensive pipeline of abbreviated new drug applications (ANDAs) with 46 ANDAs under active FDA review in multiple therapeutic areas, including pain, urology, CNS, as well as oncology and hypertension and an additional 24 ANDAs under development in multiple therapeutic areas.

Endo believes Qualitest brings critical mass to Endo's current generics business, further diversifies its business lines and product offerings and enhances Endo's portfolio of pain management products. Combining the companies' generics portfolios will also significantly boost Endo's revenue and earnings growth. On a pro forma basis for fiscal 2010, the combined company would have had revenues of approximately $2.0 billion and more than 3,000 employees.

Investors applauded the move, sending shares of Endo up $2.49 or 8% to $33.10.

Depomed, Inc. (NASDAQ:DEPO) announced today that it has received another $500,000 milestone payment after the first formulation that is being developed under its worldwide license agreement with Covidien entered clinical development. The collaboration with Covidien focuses on the exclusive development of up to four acetaminophen/opioid analgesic combination products utilizing Depomed's Acuform® gastric retentive drug delivery technology.

"We are pleased that the first product candidate has already advanced into clinical development. This first product candidate could be launched into the market as soon as 2013. Since we retained co-promotion rights of the product to the OB/GYN field, the launch would fit nicely with our expected approval of our menopausal hot flash product Serada in late 2012," said Carl A. Pelzel, Depomed's president and chief executive officer.

Shares of Depomed rose 5.45% or 23 cents to $4.45.

Aceto Corporation (Nasdaq:ACET), a global leader in the sourcing, quality assurance, regulatory support, marketing and distribution of pharmaceuticals, nutraceuticals, specialty chemicals and crop protection products, today announced that it has received the USDA approval to sell its suppliers companion animal vaccine in the United States.

Commenting on the announcement, Albert Eilender, Chairman and CEO of Aceto, said, "We are extremely pleased that the USDA has issued Aceto Pharma a permit to import our supplier's canine vaccine with authorization for its distribution and sale in the United States. As most of you are all too well aware, the process to get the USDA to issue a permit for Aceto to import the 4 in 1 vaccine was extremely rigorous and took far longer than had been anticipated. Now, with our permit approved, discussions with our distribution partner can be accelerated and brought to a satisfactory conclusion. We anticipate beginning our marketing efforts with the vaccine to the veterinary users in the first half of calendar 2011. We view this approval as a first step towards our long term plan to develop and market a line of veterinary products."

Aeterna Zentaris Inc. (NASDAQ: AEZS, TSX: AEZ) a late-stage drug development company specialized in oncology and endocrinology, today announced that a poster on its oral synthetic growth hormone secretagogue/ghrelin receptor agonist, AEZS-130 (macimorelin, Solorel(TM)), will be presented at the upcoming 5th International Congress of the GRS-IGF Society, which will be held October 3 through 7, 2010 in New York City. AEZS-130 (macimorelin, Solorel(TM)) is currently in a Phase 3 trial as a diagnostic test for growth hormone deficiency in adults.

BIOLASE Technology, Inc. (NASDAQ:BLTI), the world's leading dental laser company, is pleased to announce the first multi-product order from Benco Dental, the largest privately owned, full-service dental distributor in the United States.

Federico Pignatelli, Chairman and CEO, commented, "We are extremely pleased that a distributor of Benco Dental's caliber has chosen to now carry our dental laser product line and disposables. We are looking forward to a rapidly growing and successful collaboration with the Benco Dental sales team and one of the leading dental distributors in the country."

Cypress Bioscience, Inc. (NASDAQ:CYPB), a pharmaceutical company engaged in the development of innovative drugs to treat central nervous system (CNS) disorders, today announced that its Board of Directors has unanimously rejected the unsolicited tender offer by Ramius V&O Acquisition LLC to purchase all of the outstanding shares of Cypress for $4.25 per share in cash.

Dynavax Technologies Corporation (NASDAQ:DVAX) today announced that the Data Safety Monitoring Board (DSMB) established for Dynavax's two ongoing Phase 3 trials for HEPLISAV has completed the third of its planned safety assessments. The DSMB determined that the studies may continue without protocol modification. The Phase 3 lot-to-lot consistency trial was fully enrolled in May 2010; the Phase 3 chronic kidney disease study is expected to complete enrollment within the next few months.

Inovio Pharmaceuticals, Inc. (NYSE Amex: INO), a leader in the development of therapeutic and preventive vaccines against cancers and infectious diseases, announced today that a Phase I study, called RV262, recently began to evaluate a combination DNA prime/MVA vector boost regimen that was developed to protect against diverse subtypes of HIV-1 prevalent in North America, Europe, Africa, and South America.

The National Institute of Allergy and Infectious Diseases (NIAID), part of the U.S. National Institutes of Health (NIH), is sponsoring the study, which will enroll 92 total participants and is designed to assess safety and immune responses. The study is being conducted by the U.S. Military HIV Research Program (MHRP) through its clinical research network in the US, East Africa and Thailand.

International Stem Cell Corporation (OTCBB:ISCO) announced today that its oocyte collection and activation protocol has received the approval of an Institutional Review Board (IRB). IRB review and approval is a Federal requirement for all studies enrolling human subjects, and ensures appropriate subject safety and monitoring to protect subjects from unnecessary medical risks. "Obtaining IRB approval for our oocyte collection and activation protocol is a major step forward towards the goal of building a viable bank of human parthenogenetic stem cells," said Dr. Simon Craw, Vice President of ISCO. Shares rose nearly 15% or 16 cents to $1.21.

NeoStem, Inc. (NYSE Amex: NBS) an international biopharmaceutical company with operations in the U.S. and China, today announced that Alan G. Harris, MD, PhD, the Company's Vice President of Regenerative Medicine, Drug Development and Regulatory Affairs, will participate in a panel discussion titled "Advantages and Challenges of Corporate-Academic Collaborations". The panel discussion will take place between 2:00pm - 3:00pm in the Thomson Room during the 4th Annual New Jersey Stem Cell Research Symposium being held at the Bridgewater Marriott in Bridgewater, NJ on Wednesday, September 29, 2010.

Radient Pharmaceuticals Corporation (AMEX:RPC), a US-based company specializing in the research, development, and international commercialization of In Vitro Diagnostic (IVD) cancer tests, announced today it has entered into an exclusive 5-year full-service distribution agreement with Phu Gia Trading Co. Ltd. to expand the Company's Onko-Sure IVD cancer test into the Vietnam, Laos, and Cambodia healthcare markets.  Phu Gia has committed to purchase a minimum of 2,425 Onko-Sure kits over the duration of the agreement.

XenoPort, Inc. (Nasdaq:XNPT) announced today that new data from its first clinical trial of XP21279, a Transported Prodrug of L-Dopa, in Parkinson’s disease patients will be presented at the upcoming World Parkinson Congress meeting in Glasgow, Scotland.

Also Tuesday:

Advanced Life Sciences Holdings, Inc. (OTC Bulletin Board:ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, today announced it has received $1.5 million of proceeds from the exercise of the unit warrants issued in the public offering of securities announced on July 1, 2010.

ADVENTRX Pharmaceuticals, Inc. (NYSE Amex:ANX) today announced that the Company's Chief Executive Officer, Brian M. Culley, will present at the 9th Annual BIOInvestor Forum on Tuesday, October 5, 2010 at 11:00 a.m. Pacific time, in the Twin Peaks North room at the Palace Hotel in San Francisco, California.

ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced that it is scheduled to present at the Jefferies Global SpecPharma and European Healthcare Conference being held in London, England. Harvey J. Berger, M.D., chairman and chief executive officer at ARIAD, will provide an overview of the Company and its progress in key programs on Tuesday, October 5, 2010 at 12:30 p.m. local time.

Arrowhead Research Corporation (NASDAQ:ARWR) today announced that Dr. Christopher Anzalone, Chief Executive Officer, will be presenting at the 9th Annual BIO Investor Forum at 4:30 p.m. PT on Tuesday, October 5, 2010, at the Palace Hotel in San Francisco, CA.

AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO), a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics, today announced that the company will have a presence at two upcoming oncology medical meetings and Citi's 5th Annual Biotech Day investment conference.

Bristol-Myers Squibb Company (NYSE: BMY) announced today that the Hart-Scott-Rodino (HSR) waiting period for its tender offer for ZymoGenetics, Inc. (NASDAQ: ZGEN) has expired.

Cellceutix Corporation (PINKSHEETS: CTIX) today announced that it has completed its first species toxicity study under the conditions prescribed by United States Food and Drug Administration (FDA) Good Laboratory Practices regulations.

CellCyte Genetics Corporation (OTCBB: CCYG) announced today the appointment of Dr. Douglas Pat Cerretti to the position of President effective July 24, 2010.

China Sky One Medical, Inc. (Nasdaq:CSKI), a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), today announced that the Company's 2010 Annual Meeting of Shareholders will be held on Tuesday, October 12, 2010 at the Company's headquarters at Songbei Development District, Harbin, China.

Cobalis Corp. (Pink Sheets:CLSC) is holding the second Investor Update Conference Call to provide investors and shareholders with further details and the latest updates about a range of important securities, financial and legal issues.

CorMedix Inc. (NYSE Amex: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of cardiorenal disease, today announced it is scheduled to present at the BIO Investor Forum Conference 2010.

Data Call Technologies, Inc. (OTCBB: DCL) today announced that it has signed a letter of intent to be acquired by Lab Amazon Group, Inc. ("Lab Amazon").Lab Amazon is a private company engaged in the discovery, development, production and distribution of high quality, safe and effective natural products for pharmaceutical applications.

Delcath Systems, Inc. (Nasdaq:DCTH) announced today that management will present at the William Blair Emerging Growth Stock Conference on Tuesday, October 5, 2010 at 8:45 a.m. ET in New York, NY.

Eli Lilly and Company (NYSE:LLY) announced today that approximately 140 of its scientists have begun working at its new state-of-the-art cancer research facility in New York City that is focused on speeding to market a new generation of potentially breakthrough cancer medicines to improve outcomes for individual patients.

Exact Sciences Corp. (Nasdaq: EXAS) today announced that it will present at the 2010 William Blair & Company Emerging Growth Stock Conference, which is being held Oct. 5, 2010, at the InterContinental New York Barclay Hotel in New York.

Foster Wheeler AG, (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group, working with PetroAlgae Inc., (OTCBB:PALG) has completed its initial testing of PetroAlgae's biomass, with encouraging results. The biomass, produced at PetroAlgae's micro-crop farm in the U.S., is being tested as a delayed coker feedstock supplement to provide renewable biofuels to the market.

Generex Biotechnology Corporation (Nasdaq: GNBT) the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today announced that it has been awarded a new patent in Canada.

IsoRay Inc. (AMEX: ISR) a medical isotope company and the exclusive manufacturer of Cesium-131 used in internal radiation therapy for the treatment of lung, colon, head and neck, and prostate cancers, ocular melanoma, and other malignant disease through the use of its proprietary radioisotope technology, announced its financial results for the year ended June 30, 2010.

Juniper Networks® (NYSE: JNPR) today announced that Carilion Clinic, a Roanoke, VA-based not-for-profit healthcare organization, has built a new network data center based on Juniper Networks switching and routing technologies to support the growing needs of its comprehensive clinic and new medical school.

Kendle (Nasdaq:KNDL), a leading, global full-service clinical research organization (CRO), today announced the appointment of Sally Osmond as Vice President, Europe, Middle East and Africa.  

Lorus Therapeutics Inc. (TSX:LOR) (OTCBB:LRUSF) a biopharmaceutical company specializing in the research and development of pharmaceutical products and technologies for the management of cancer, today announced that it has received a receipt for a final short form prospectus in relation to the previously announced filing of a preliminary prospectus in each of the provinces of Canada in connection with a distribution to its shareholders in eligible jurisdictions outside the United States of rights exercisable for units of the Corporation.

Luminex Corporation (Nasdaq:LMNX), today announced the initial dates and locations for the MAGPIX® road show, a multinational tour designed to showcase the recently-launched MAGPIX analytical instrument that is capable of performing up to 50 tests on a single sample and providing nearly 5,000 data points in under an hour.

Neuro-Biotech Corporation (PINKSHEETS: MRES) (OTCQB: MRES) discloses its list of licenses.

Mindray Medical International Limited (NYSE:MR), a leading developer, manufacturer and marketer of medical devices worldwide, today announced that it will attend the 64th China International Medical Equipment Fair ("CMEF") in Shenyang, China from October 12 to October 15, 2010.

NuVim, Inc. (PINKSHEETS: NUVM), a leading provider of nutritional refrigerated and shelf stable ready to drink beverages and powder mixes, announced today they have shippedthe initial orders and have already received reorders for two Wal-Mart distribution centers that supply the Southeast Wal-Mart supercenters.

Oncolytics Biotech Inc. (TSX: ONC, NASDAQ:ONCY) today announced that it has been granted U.S. Patent, # 7,803,385 entitled "Reoviruses Having Modified Sequences." The patent claims cover methods for making and using modified reoviruses, and pharmaceutical compositions that include modified reoviruses.

PAREXEL International Corporation (Nasdaq:PRXL) announced today it will be presenting at the William Blair Emerging Growth Stock Conference in New York.  

PolyMedix, Inc. (OTCBB: PYMX), an emerging biotechnology company focused on developing new therapeutic drugs to treat acute cardiovascular disorders and infectious diseases, has initiated a Phase 2 clinical trial in Canada with its novel defensin-mimetic antibiotic, PMX-30063.

Regeneron Pharmaceuticals, Inc. (Nasdaq:REGN) will participate in a webcast panel discussion on the topic "Eye Diseases: Novel Therapies for Wet AMD, Retinal Vein Occlusion and Diabetic Macular Edema" at Citi's 5th Annual Biotech Day on Tuesday, October 5, 2010.  

Savanna East Africa, Inc. (PINKSHEETS:NVAE) (OTCQB: NVAE) today announced plans to host a trade mission in Nairobi, Kenya from October 25th through October 29th 2010.

SuperGen, Inc. (NASDAQ:SUPG), a pharmaceutical company dedicated to the discovery and development of novel cancer therapies, today announced that James S.J. Manus, Ph.D., President and Chief Executive Officer, will present at the BIO Investor Forum on Tuesday, October 5th in San Francisco.

Vicor Technologies, Inc. (OTCBB:VCRT), today announced that the Company has received approval from the Institutional Review Board (IRB) for a study to identify normal ranges for PD2i® values obtained from tests performed with its PD2i Analyzer™ on patients at rest, and in response to controlled exercise and paced respiration.

Unigene Laboratories, Inc. (OTCBB: UGNE), a leader in the design, delivery, manufacture and development of peptide-based therapeutics, announced today the election of Joel A. Tune to its Board of Directors.

VIVALIS (NYSE Euronext: VLS), a biopharmaceutical company, announced today that Mymetics Corporation (NASDAQ: MYMX), a Swiss company that develops a new generation of mucosal- and virosome-based vaccines, has signed a research license agreement to evaluate the replication of an undisclosed virus in VIVALIS' EB66® cell line for the manufacturing of human vaccines developed by Mymetics.

Walgreen Co. (NYSE:WAG) (NASDAQ:WAG): “Fiscal 2010 was highlighted by accelerating execution on our core strategies and an ability to leverage our financial flexibility to capture growth opportunities including our acquisition of Duane Reade” Fourth quarter sales increase 7.4 percent to record $16.9 billion; fiscal 2010 sales reach record $67.4 billion Gross profit margin for the quarter improves 70 basis points versus last year's fourth quarter Cash flow from operations for the quarter total $925 million; $3.7 billion for fiscal 2010 Company returns record amount of cash to shareholders - completes $2 billion share repurchase program announced October 2009

Watson Pharmaceuticals, Inc. (NYSE:WPI), a leading specialty pharmaceutical company, announced today that Paul Bisaro, Watson's President and Chief Executive Officer, will provide an overview and update of the Company's business in London at the Jefferies 2010 Global SpecPharma & European Healthcare Conference on Tuesday October 5, 2010 at 10:00am (BST), (5:00am EDT).

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