|Abbott's New FreeStyle InsuLinx Receives FDA Clearance; Gilead, Pfizer and Others, Rise On Pills As Prophylactics|
|By Staff and Wire Reports|
|Thursday, 08 March 2012 19:27|
Abbott (NYSE: ABT) announced it has received U.S. Food and Drug Administration (FDA) clearance for the FreeStyle InsuLinx Blood Glucose Monitoring System,(1) the first from Abbott to include a touch-screen interface, automated logbook and several personalization features designed to improve the diabetes management experience for patients. This unique device is also equipped with built-in FreeStyle Auto-Assist software that enables patients to track progress, analyze trends and easily display data for their health care providers. The FreeStyle InsuLinx System will be available to U.S. consumers within the coming months.
According to the American Diabetes Association (ADA), approximately 25.8 million people in the United States have diabetes,(2) and of those, many require insulin to manage their condition. The FreeStyle InsuLinx System is the newest addition to Abbott's portfolio of glucose monitoring systems and is designed to use FreeStyle technology to help insulin-using patients monitor their blood glucose levels to allow them to more effectively manage their condition.
There are prophylactics, and then there are drugs as prophylactics. Following news that three clinical trials suggest that healthy people should take HIV drugs to prevent infection with the virus that causes AIDS, noted in this Wall Street Journal story, shares of pharmaceutical companies that produce HIV treatments were trading higher.
It is, of course, a controversial prospect that some worry could lead to drug resistance as drug companies wring profits from pills losing patents.
The big winner would be Gilead Sciences (NASDAQ:GILD), up nearly 3%, or $1.30, to $46.78. Other companies that make HIV drugs also traded higher. Bristol-Myers Squibb (NYSE:BMY) rose 1%, while GlaxoSmithKline (NYSE:GSK) and Pfizer (NYSE:PFE) were up nearly 1%.
Gilead makes Truvada, a two-drug regimen to treat HIV. Truvada is the first HIV treatment the FDA is reviewing for possible marketing as a preventative measure. But the studies may boost sales right now, since doctors who believe the drug will help an HIV-negative patient can write prescriptions for “off label” treatments when studies suggest a good outcome.
Gilead’s current price is about where the stock was after plunging in mid-February on news that a two-drug regime for Hepatitis C failed to suppress the virus in difficult-to-treat patients. At the time, Barrons.com said that Gilead shares remain attractive at about 12 times forward earnings, despite risks.
Alkermes plc (NASDAQ: ALKS) today announced the pricing of an underwritten public offering of 21,000,000 ordinary shares held by a subsidiary of Elan Corporation, plc (NYSE:ELN) at a price to the public of $16.50 per share.
BIOLASE Technology, Inc. (NASDAQ: BLTI), the World's leading dental laser manufacturer and distributor, today announced that Vice President, International, William E. Brown has been promoted to Vice President, Sales & Marketing, effective immediately.
BioTime, Inc. (NYSE Amex:BTX), a biotechnology company that develops and markets products in the field of regenerative medicine, today announced that Chief Financial Officer, Peter S. Garcia, will present a corporate overview of BioTime and its subsidiaries at the ROTH 24th Annual Growth Stock Conference.
Cannabis Science, Inc. (OTCBB:CBIS.OB) a pioneering U.S. biotech company developing pharmaceutical cannabis (marijuana) products, is pleased to release new updated photos from the 3rd cancer patient self-administering cannabis extracts.
Celgene Corporation (NASDAQ: CELG) today announced it has completed its acquisition of Avila Therapeutics. Celgene acquired Avila Therapeutics for $350 million in cash, plus up to $575 million contingent upon certain milestones related to AVL-292 and candidates from Avila’s discovery program.
Columbia Laboratories, Inc. (Nasdaq: CBRX) today reported financial results for the three- and twelve-month periods ended December 31, 2011.
Covidien (NYSE:COV), a leading global provider of healthcare products, today announced the opening of four research and development (R&D) centers.
Emergent BioSolutions Inc. (NYSE: EBS) announced today its financial results for the fourth quarter and full year ended December 31, 2011.
Enzo Biochem, Inc. (NYSE:ENZ), will hold a conference call to discuss fiscal 2012 second quarter results on Tuesday, March 13, 2012, at 8:30 AM E.T.
Gilead Sciences, Inc. (Nasdaq: GILD) today announced full results from the second pivotal Phase 3 clinical trial (Study 103) of its Quad once-daily single tablet regimen of elvitegravir, cobicistat, emtricitabine and tenofovir disoproxil fumarate for the treatment of HIV.
Hi-Tech Pharmacal Co., Inc. (NASDAQ:HITK) announced today the signing of a definitive agreement under which Hi-Tech acquired several homeopathic branded nasal spray products including Sinus Buster® and Allergy Buster® from Dynova Laboratories, Inc. for $1.25 million in cash and an additional $1.25 million deposited in an escrow account to pay for certain expenses.
Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) today reported results for the Company’s fiscal third quarter ended January 31, 2012.
Maxygen, Inc. (Nasdaq:MAXY), a biopharmaceutical company, today announced financial and business results for the quarter and year ended December 31, 2011.
Nuvilex, Inc. (OTCQB:NVLX), an emerging biotechnology provider of cell and gene therapy solutions, today discussed the potential use of the company’s cell encapsulation technology with modified stem cells to treat late stage cancers.
Obagi Medical Products, Inc. (NASDAQ: OMPI), a leader in topical aesthetic and therapeutic skin health systems, today reported net income for the fourth quarter ended December 31, 2011 of $5.1 million, or $0.27 per diluted share, up significantly compared with $2.9 million, or $0.14 per diluted share a year earlier.
SensiVida Medical Technologies Inc. (PINK SHEETS: SVMT) (www.sensividamedical.com) (“SensiVida”), a developer and provider of digital painless diagnostic technologies and devices, is pleased to announce that Mr. Sidney Braginsky has been appointed to the SensiVida Board of Directors.
Somaxon Pharmaceuticals, Inc. (Nasdaq: SOMX), a specialty pharmaceutical company, today reported financial results for the full year and fourth quarter ended December 31, 2011.
Synageva BioPharma Corp. (NASDAQ:GEVA), a clinical stage biopharmaceutical company developing therapeutic products for rare disorders, will report 2011 fourth quarter and full year financial results after the NASDAQ Market closes on Thursday, March 15, 2012.
Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) and OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) announced today an update on their development program for custirsen, a product candidate being evaluated in Phase 3 studies for castrate-resistant prostate cancer (CRPC).
Waters Corporation (NYSE:WAT) John Ornell, Chief Financial Officer, will speak to the investment community at the Barclays Capital 2012 Global Healthcare Conference at the Loews Miami Hotel in Miami, Florida, on Wednesday, March 14th, at 9:30 a.m. eastern time.