|Positive FDA review sends Optimer soaring. K-V cuts price of Makena|
|By BioMedReports.com Staff|
|Friday, 01 April 2011 18:52|
Shares of Optimer Pharmaceuticals, Inc. (NASDAQ:OPTR) jumped 11% Friday after a positive review from the FDA for the company's experimental antibiotic drug to prevent infection of the digestive tract. The memo stated that study data back use of its antibiotic fidaxomicin to treat infections caused by Clostridium difficile, a bacteria which causes diarrhea and inflammation of the colon. The FDA report said that patients showed significantly fewer recurrences of infection compared to those taking another antibiotic. An FDA panel will meet Tuesday April 5th to vote on the benefits and risks of fidaxomicin. The drug has a PDUFA date of May 30th.
More than 3 million shares traded hands driving the stock up $1.30 to $13.13.
K-V Pharmaceutical Company (NYSE:KVa) announced today that it will reduce the cost of Makena(hydroxyprogesterone caproate injection) by nearly 55 percent, to $690 per injection.
"Ensuring access to an FDA-approved sterile, injectable medication, manufactured under mandatory strict quality controls, is in the best interests of all high-risk women," said Greg Divis, Chief Executive Officer, K-V Pharmaceutical Company and President, Ther-Rx Corporation. "We understand the concerns that key stakeholders raised under our original pricing structure. We also recognize the current budget challenges facing state Medicaid programs and other payers. In conjunction with our substantial reduction in price, it is our sincere hope that all committed stakeholders will take appropriate action to provide timely access to this important FDA-approved medication."
Labopharm Inc. (TSX:DDS.to) (NASDAQ:DDSS) today announced that it received notice from the Listings Qualifications Department of The Nasdaq Stock Market that the closing bid price of the Corporation's Market Value of Listed Securities was below the minimum requirement of US$50,000,000 for 30 consecutive business days (ended March 28, 2011) and the Corporation was therefore not in compliance with Nasdaq listing rules.
Promius Pharma, LLC, an affiliate of Dr. Reddy's Laboratories (NYSE:RDY), and Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSX:VRX.to) today jointly announced that they have signed a collaboration agreement for Cloderm Cream. Under the agreement, Promius Pharma will make an upfront payment and pay future royalties as the consideration for the right to manufacture, distribute and market Cloderm Cream in the United States, effective immediately.
AdCare Health Systems, Inc. (NYSE Amex:ADK) , a leading skilled nursing and assisted living provider, held an initial closing of $2.1 million on a private placement of subordinated convertible notes due March 2014.
Altitude Organic Corporation (PINKSHEETS: AMNG), a national, publicly-traded medical marijuana company, dropped its first advertisement in the Phoenix New Times yesterday.