Thermo Fisher shares hit all-time high on Phadia acquisition Print E-mail
By Staff and Wire Reports   
Thursday, 19 May 2011 18:59
Below is a look at some of the headlines for companies that made news in the healthcare sector on May 19, 2011.

Investors pushed shares of Thermo Fisher Scientific Inc. (NYSE:TMO) higher today after the laboratory equipment maker announced that it will acquire Phadia, a global leader in allergy and autoimmunity diagnostics, from European private equity firm Cinven, for approximately $3.5 billion in cash. The transaction, which is expected to be completed in the fourth quarter of 2011, is expected to be immediately accretive to Thermo Fisher’s adjusted earnings per share and accretive by $0.26 to $0.30 per share in 2012.

Sweden based Phadia develops, manufactures and markets complete blood-test systems to support the clinical diagnosis and monitoring of allergy and autoimmune diseases. Founded in 1967, Phadia has been a pioneer in bringing new allergy diagnostic tests to market, and is the global leader for in vitro allergy diagnostics and a European leader in autoimmunity diagnostics.
“The acquisition of Phadia is a major step forward in our strategy to enhance Thermo Fisher’s global presence in specialty diagnostics, one of our key growth platforms,” said Marc N. Casper, president and chief executive officer of Thermo Fisher. “This transaction will provide Thermo Fisher with leading allergy and autoimmunity diagnostic testing technologies that expand our specialty diagnostics offerings. From a market perspective, Phadia has significant growth opportunities in the large, under-penetrated U.S. market, and can leverage our strong presence in emerging geographies to further accelerate growth. This transaction is another great example of our acquisition strategy to strengthen our position in growing markets, expand our customer offerings and create value for our shareholders.”
On Monday, Thermo completed its $2.1 billion acquisition of Dionex Corp, a provider of chromatography instruments, software and services.
Shares of Thermo Fisher gained $2.64 or 4.21% to $65.38.

Also Thursday:

Accuray Incorporated (Nasdaq:ARAY), a global leader in the field of radiosurgery, announced today that its president and chief executive officer, Euan S. Thomson, Ph.D., is scheduled to present at Jefferies' 2011 Global Healthcare Conference in New York City on Tuesday, June 7, 2011 at 10:00 a.m. ET/7:00 a.m. PT.

Altitude Organic Corporation (PINKSHEETS: ERBB), a leading national, publicly-traded medical marijuana company, announced today it has strategically aligned with medical marijuana advertiser and point-of-sale software support company

Ampio Pharmaceuticals, Inc. (Nasdaq: AMPE) ("Ampio" or the "Company"), a company focused on new uses for previously approved drugs and new molecular entities ("NMEs"), today announced that its common stock will commence trading on the NASDAQ Capital Market under the ticker symbol "AMPE" commencing today, May 19, 2011.

Ardea Biosciences, Inc. (Nasdaq:RDEA) today announced that data from a completed, multi-center, Phase 1, monotherapy, dose-escalation study of BAY 86-9766 in advanced cancer patients will be presented in an Oral Abstract Session at the 2011 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, Illinois on Sunday, June 5, 2011.

Cardiac Network, Inc. (PINKSHEETS: CNWID), a cardiac monitoring company located in San Francisco, CA, announces today that effective immediately it is moving its principal business offices to Palm Desert, CA.

EntreMed, Inc. (Nasdaq:ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer today announced the presentation of clinical data for its Phase 2 study with ENMD-2076 in platinum-resistant ovarian cancer patients.

Fero Industries, Inc. (OTCQB: FROI) (OTCBB: FROI) (the "Company") is pleased to announce the release of its third quarter financial statements for the period ended March 31, 2011.

GeckoSystems Intl. Corp., (PINKSHEETS: GOSY) ( a dynamic leader in the emerging mobile robotics industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service™," -- announced today they have moved to a new facility more favorable to their ongoing advanced mobile robotics R&D.

Isis Pharmaceuticals, Inc. (NASDAQ:ISIS)
announced today that it has earned a $5 million milestone payment from GlaxoSmithKline (GSK) related to the initiation of a Phase 1 clinical study for ISIS-TTRRx.  

InterMune, Inc. (NASDAQ:ITMN) will conduct a live webcast of its 2011 Analyst Day presentations on Thursday, May 26, 2011, from 8:30 a.m. – 11:30 a.m. EDT in New York.  

MedeFile International, Inc. (OTCQB: MDFI) (PINKSHEETS: MDFI), a leader in Internet-enabled Personal Health Record (iPHR) management solutions, today announced that it has granted exclusive rights to government contracting firm ADAR, Incorporated and its principals, Debbie and Keith Rieger, to market the Company's advanced iPHR solution to U.S. federal departments and agencies, including the Veterans Administration, Department of Defense, Health and Human Services, and Department of Homeland Security.

Perceptive Informatics, the industry's leading eClinical solutions provider and a subsidiary of PAREXEL International Corporation (NASDAQ:PRXL), today announced results of a global survey conducted during its webinar entitled "Critical Tasks of Site Monitors: Using a CTMS to Improve Efficiency."

ShangPharma Corporation (NYSE:SHP) ("ShangPharma" or the "Company"), a leading China-based pharmaceutical and biotechnology research and development outsourcing company, today announced its financial results for its first quarter ended March 31, 2011.

Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic device company, today announced first quarter 2011 financial results for the three month period ended March 31, 2011.

Vermillion, Inc. (NASDAQ:VRML)
, a molecular diagnostics company, today announced the appointment of Bruce Huebner to its Board of Directors.  

Wound Management Technologies, Inc., (OTCQB: WNDM | WNDM.PK) a leader in advanced wound care solutions announced the publication of an interview of its President Deborah Jenkins Hutchinson by, a weekly web publication consisting of interviews with CEOs and CFOs of publicly traded growth companies.

"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'.

Add this page to your favorite Social Bookmarking websites
Digg! Reddit!! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!

blog comments powered by Disqus