Angiotech defers payment, seeks to restructure debt. AstraZeneca launches major new study of Brilinta. Print E-mail
By Mary Davila   
Friday, 01 October 2010 19:26
Below is a look at some of the headlines for companies that made news in the healthcare sector on October 01, 2010.

Angiotech defers payment, seeks to restructure debt - Canada's Angiotech Pharmaceuticals (ANP.TO) (ANPI.O) is deferring $9.7 million in interest payments due Friday and is in talks with subordinated noteholders to refinance its debt.

Struggling Vancouver-based Angiotech said on Friday the arrangement, if approved, would significantly improve its credit ratios and liquidity. It said it expected to announce details soon.

Angiotech, a specialty pharmaceutical and medical device maker, said it had a 30-day grace period to make its interest payment before it would fall into default.

Shares fell roughly 10 percent on both the Toronto Stock Exchange and the Nasdaq shortly after markets opened. It was at 54 Canadian cents in Toronto and at 52 cents in New York.

The company risks being delisted by Nasdaq by Jan. 3 because its shares have been below $1 for more than 30 trading days.

AstraZeneca launches major new study of Brilinta - AstraZeneca (AZN.L) announced a 21,000 patient study on the efficacy of Brilinta for longer-term treatment of people who have had a heart attack, which it hopes will underscore the potential of its new blockbuster heart drug.

The study, which will start enrolment in the fourth quarter, will involve people who have had a heart attack between one and three years ago, a group that is at substantially higher risk of another cardiovascular event, AstraZeneca said on Friday.

Last week, Brilinta won approval from regulators in Europe where it will be sold as Brilique, and U.S regulators will complete a review of the drug by Dec. 16.

Also Friday:

Bioheart, Inc. - (OTC Bulletin Board:BHRT) a company focused on the discovery, development and commercialization of autologous cell therapies for the treatment of cardiovascular diseases, announced today that the company received a preliminary commitment from Seaside National Bank and Trust for a $980,000 loan that will be used to refinance the Company's loan with Bank of America.

BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) announced today that Larry Bullock, CFO, will provide an update of corporate activities at the 2010 William Blair Emerging Growth Stock Conference on Tuesday, October 5th at 10:15 a.m. EDT.

Bionovo, Inc. (Nasdaq:BNVI), a drug discovery and development company focused on unmet needs in women's health and oncology, today announced that it has entered into definitive agreements to raise approximately $3.0 million in gross proceeds in a registered direct offering through the sale of common stock and warrants.  

Cortex Pharmaceuticals, Inc. (OTCBB: CORX) announced that it has regained worldwide rights to develop and commercialize its AMPAKINE® compounds for the treatment of schizophrenia and depression.

Coventry Health Care, Inc. (NYSE: CVH) announced today that it has completed its previously announced acquisition of MHP, Inc. and its subsidiaries ("Mercy Health Plans"), which were wholly-owned by Sisters of Mercy Health System ("Mercy").

Cytokinetics, Incorporated (NASDAQ: CYTK) announced today that two abstracts relating to CK-2017357 were presented at the 2010 Annual Aging Muscle Symposium, held September 30 - October 1, 2010 in San Francisco, California.

Emergent BioSolutions Inc. (NYSE:EBS) announced today that its anthrax monoclonal antibody development program investigating AVP-21D9 for the treatment of inhalational anthrax has been granted Fast Track Designation by the U.S. Food and Drug Administration (FDA).

Encorium Group, Inc. (Nasdaq:ENCO), a full service multinational clinical research organization (CRO) conducting studies in over 30 countries for many of the world's leading pharmaceutical and biotechnology companies, today announced that it has extended the expiration date for its pending rights offering from September 30, 2010 to October 15, 2010.  

Fresenius Medical Care AG & Co. KGaA (the company or FMC AG & Co. KGaA; Frankfurt Stock Exchange: FME / New York Stock Exchange: FMS), the world's largest provider of dialysis products and services, today announced successful completion of the upsizing and extension of its senior secured credit facility.

Idera Pharmaceuticals, Inc. (Nasdaq: IDRA) today announced that data related to IMO-2125, its novel immune modulator for the treatment of chronic hepatitis C virus (HCV) infection, will be presented at the 61st Annual Meeting of the American Association of the Study of Liver Diseases in Boston, Massachusetts October 29 - November 2, 2010.

Idenix Pharmaceuticals, Inc. (Nasdaq:IDIX), a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases, today announced that three abstracts have been accepted for presentation at the 61st Annual Meeting of the American Association for the Study of Liver Diseases (AASLD, October 29-November 2, 2010 in Boston, Massachusetts).

Kraig Biocraft Laboratories, Inc. (OTCBB:KBLB)
announces today that Kim Thompson cordially invites all current, new and prospective shareholders to participate in the Company's conference call to be held on Friday, October 8, 2010 at 4:30 p.m. EDT.

Merck & Co., Inc. (NYSE: MRK) will hold its third-quarter 2010 sales and earnings conference call with institutional investors and analysts beginning at 8 a.m. EDT on Friday, October 29.

Mylan Inc. (Nasdaq:MYL) today announced that its subsidiary Mylan Pharmaceuticals Inc. has launched Bupropion Hydrochloride Extended-release Tablets USP, (XL), 150 mg and 300 mg (Once-Daily), the generic version of GlaxoSmithKline's antidepressant Wellbutrin XL®.

Neurologix, Inc. (OTC Bulletin Board:NRGX), today announced that new details of the company's landmark, randomized, double-blind Phase 2 clinical trial of NLX-P101, its investigational gene therapy for advanced Parkinson's disease (PD), were presented during a symposium at the 2nd World Parkinson Congress in Glasgow, Scotland.

Palatin Technologies, Inc. (NYSE Amex:PTN) announced that it will be presenting at the 9th Annual BIO Investor Forum on Wednesday, October 6, 2010 at 8:00 AM PT.  

QRxPharma Limited (ASX: QRX and OTCQX: QRXPY) has today announced a Placement which raised A$14 million and which was significantly oversubscribed.

Sanofi-aventis (EURONEXT: SAN and NYSE:SNY) announced today that data from the Phase III TROPIC study, which was the basis for the June 2010 U.S. Food and Drug Administration (FDA) approval of Jevtana® (cabazitaxel) Injection, was published in the October 2, 2010 print edition of The Lancet in an article titled "Prednisone plus cabazitaxel or mitoxantrone for metastatic castration-resistant prostate cancer progressing after docetaxel treatment: a randomised open-label trial."

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) announced today the pricing of an underwritten offering of approximately 44.1 million units, each consisting of one share of its common stock and a warrant to purchase 0.5 of a share of its common stock, at a public offering price of $0.35 per unit, for gross proceeds of approximately $15.5 million.

Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that it will webcast its participation in an industry panel discussion at Citi's 5th Annual Biotech Day on Tuesday, October 5, 2010 at 10:00 a.m. EDT.

Walgreens (NYSE, NASDAQ: WAG) will highlight the successes of Hispanic-owned businesses during Hispanic Heritage Month in October as part of its Community Corner program, a supplier diversity initiative designed to allow consumers to easily identify and purchase products produced by diverse companies.

YM BioSciences Inc. (NYSE Amex:YMI, TSX:YM), today announced it will present preclinical results for its CYT387 JAK1/JAK2 inhibitor program demonstrating that CYT387 possesses an excellent enzymatic potency and selectivity profile which may provide significant clinical advantages. CYT387 is currently being investigated in a Phase I/II clinical study at Mayo Clinic in patients with myelofibrosis.

ZIOPHARM Oncology, Inc. (NASDAQ: ZIOP) announced today that it has appointed Michael G. King, Jr., Senior Vice President of Corporate Development and Communication.

"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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