Eurand acquired for $583 million. CytRx initiates Phase IIb lung cancer study. After the bell, Sequenom falls on offering Print E-mail
By Staff   
Wednesday, 01 December 2010 19:28


Below is a look at some of the headlines for companies that made news in the healthcare sector on December 1, 2010.

After the bell, shares of Sequenom, Inc. (Nasdaq:SQNM) fell after the company announced that it intends to offer and sell shares of its common stock in an underwritten public offering. In extended trading shares were off  51 cents or 7.49% to $6.30.

Cubist Pharmaceuticals, Inc. (NASDAQ:CBST) announced after the bell that its currently-marketed antibiotic, CUBICIN® has been approved by the U.S. Food & Drug Administration for once-a-day dosing as a 2-minute intravenous (IV) injection. CUBICIN is the only approved 2-minute IV injection for the treatment of methicillin-resistant Staphylococcus aureus (MRSA) complicated skin infections and bacteremia. In addition to 2-minute IV injection, several other changes to the CUBICIN label were incorporated. These include changes and reformatting of the Warnings and Precautions in the label, updates to the Post Marketing Experience section of the label, and re-formatting of the label to be compliant with the FDA’s Physician Labeling Rule (PLR).

After the market close Wednesday, GlaxoSmithKline (NYSE:GSK) and Valeant Pharmaceuticals International, Inc. (NYSE:VRX) announced receipt of a Complete Response letter from the U.S. Food and Drug Administration (FDA) for the New Drug Application (NDA) for ezogabine, an investigational anti-epileptic drug being studied for the adjunctive treatment of adults with partial-onset seizures.

Earlier Wednesday:

Eurand N.V. (NASDAQ:EURX), a global specialty pharmaceutical company, and Axcan Holdings, Inc., a leading pharmaceutical company focused on the treatment of gastrointestinal disorders, today announced that Axcan will acquire all the outstanding shares of Eurand for $12.00 per share in cash. The fully diluted equity value of the transaction is approximately $583 million.

Amsterdam based Eurand makes a range of drugs focusing on gastrointestinal, cardiovascular, and pain conditions. Axcan is a U.S. based privately-held drug developer focusing on gastrointestinal therapies.

Shares of Eurand rose 86 cents or 8.11% to $11.86.

CytRx Corporation (Nasdaq:CYTR), saw heavy volume after the company announced today that it is initiating a multicenter Phase 2b clinical trial with its oncology drug candidate tamibarotene in combination with chemotherapeutical agents for the treatment of patients with advanced non-small-cell lung cancer (NSCLC).

"Intensive chemotherapy treatment for patients with late-stage NSCLC appears to provide some benefit; however, the median survival is still about one year, with progression-free survival of around six months," said CytRx Chief Medical Officer Daniel Levitt, MD, Ph.D. "A recent Phase 2 clinical trial demonstrated statistically significant results when adding All Trans Retinoic Acid, or ATRA to a regimen of paclitaxel and cisplatin as initial treatment for patients with advanced NSCLC. Tamibarotene is a synthetic retinoid that is 10- to 20-fold more potent than ATRA; thus we believe that it has great promise to be a new weapon against this devastating cancer."

Cell Therapeutics, Inc. (Nasdaq and MTA: CTIC) announced today that Ruth Pettengell, M.D. of St. George's Hospital, University of London, the lead investigator for the PIX 301 EXTEND trial will present end of study results for the pixantrone phase III trial in relapsed/refractory aggressive non-Hodgkin's lymphoma ("NHL") at the 52nd Annual Meeting of the American Society of Hematology on Sunday, December 5, 2010 in Orlando, Florida.

Hana Biosciences (OTCBB:HNAB), a biopharmaceutical company focused on strengthening the foundation of cancer care, announced that its board of directors has approved changing its name to Talon Therapeutics, Inc. The name change will become effective on Thursday, December 2, 2010.

RegeneRx Biopharmaceuticals, Inc. (NYSE Amex:RGN) announced today that the Company received a patent in Australia using thymosin beta 4 (Tβ4), and various fragments and anologues of Tβ4, to treat or prevent biological and immunological responses to reactive chemical, biological or toxic agents. The patent claims include allergic reactions such as contact dermatitis, poison ivy, and insect bites, as well as skin indications such as psoriasis and eczema, among others. The patent expires in 2024. RegeneRx has patents pending for this use in a number of countries, including the U.S.

Also Wednesday:

AdCare Health Systems, Inc. (NYSE Amex: ADK)  a recognized innovator in senior living and health care facility management, has signed a definitive purchase agreement for three skilled nursing facilities in Georgia for $18 million.

Anthera Pharmaceuticals, Inc. (Nasdaq:ANTH), a biopharmaceutical company developing drugs to treat serious diseases associated with inflammation, today announced Paul F. Truex, Anthera's President and Chief Executive Officer, will present at the 5th Annual Canaccord Genuity Cardiovascular, Diabetes & Obesity Conference in San Francisco, CA on Tuesday, December 7, 2010 at approximately 9:30 am Pacific Time.

Atrion Corporation (NASDAQ:ATRI) today declared a special cash dividend of $3.00 per share on its outstanding shares of Common Stock.

CareFusion (NYSE:CFN), a leading, global medical device company, today said it will highlight its Pyxis® closed-loop medication management system at the 45th Midyear Clinical Meeting and Exhibition of the American Society of Health-System Pharmacists (ASHP), to be held next week in Anaheim, Calif.

Halozyme Therapeutics, Inc. (Nasdaq:HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix, today announced that management will be presenting at the 5th Annual Canaccord Genuity Cardiovascular, Diabetes & Obesity Conference on Wednesday, December 8, 2010 at 9:30 a.m. PST (12:30 p.m. EST) in San Francisco.

Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that that a customizable ERP compatibility feature has been added to the company's barcoded locking syringe device.

MiMedx Group, Inc. (OTC Bulletin Board:MDXG), an integrated developer, manufacturer and marketer of patent protected biomaterial-based products, announced today that it has been awarded a Qualifying Therapeutic Discovery Project grant (QTDP) from the U.S. Government.

Oramed Pharmaceuticals Inc. (OTCBB: ORMP.OB) a developer of oral drug delivery solutions, announces a publication in the Journal of Diabetes Science and Technology's November issue describing evaluation of the company's glucagon-like peptide- (GLP-1) analog formulation (ORMD-0901) in regulating glucose excursions in animal models.

Oncolytics Biotech Inc. (TSX:ONC, NASDAQ: ONCY) announced today the start of enrollment in a randomized Phase II ovarian cancer study.

Ophthalmic Imaging Systems (OIS) (OTCBB:OISI), a leading ophthalmic digital imaging and informatics company, announces that its wholly owned subsidiary Abraxas Medical Solutions, Inc. has been named among the top 20 ambulatory electronic medical record (EMR) software vendors for 2011 in five different physician practice size categories.

SensiVida Medical Technologies (PINKSHEETS:SVMT), a developer and provider of painless diagnostic technologies, announced today that it exhibited its Digital Allergy Test System at the 2010 American College of Allergy, Asthma & Immunology (ACAAI) Annual Meeting in Phoenix, Arizona earlier this month.

Shire plc (LSE: SHP, Nasdaq:SHPGY), the global specialty biopharmaceutical company, today announced topline results from FAST-3 (For Angioedema Subcutaneous Treatment), the largest of the Phase III trials studying the use of Firazyr (icatibant) for treatment of acute attacks of hereditary angioedema (HAE).

Varian Medical Systems (NYSE:VAR) announced today that its Board of Directors has set the regular 2011 Annual Meeting of Stockholders for February 10, 2011 with a record date of December 15, 2010.

Just ten weeks after Versus Technology, Inc. (Versus) (PINKSHEETS :VSTI) was selected to support the Bethesda Hospitals' Emergency Preparedness Partnership (BHEPP) Real-time Locating System (RTLS) initiative, the Versus Advantages™ system was recently utilized during the organization's disaster preparedness drill.

WellTek, Inc. (OTCBB: WTKN)
, a global health, fitness and wellness company, announced today that it plans to expand into the virtual event market, specializing in the healthcare and wellness niche, by launching a new wholly-owned company, WellTek Events, Inc.



"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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