Human Genome Sciences Announces Unsolicited Offer from GlaxoSmithKline; Watson Launches Generic FORTAMET Print
By Staff and Wire Reports   
Thursday, 19 April 2012 18:27
Below is a look at some of the headlines for companies that made news in the healthcare sector on April 19, 2012.

Human Genome Sciences, Inc. (NASDAQ:HGSI)
announced it has received an unsolicited proposal from GlaxoSmithKline plc (GSK) to acquire HGS for $13.00 per share in cash.

The HGS Board of Directors, in consultation with independent financial and legal advisors, has carefully reviewed and considered the GSK offer and has determined that the offer does not reflect the value inherent in HGS.

HGS also announced today that its Board of Directors has authorized the exploration of strategic alternatives in the best interests of shareholders, including, but not limited to, a potential sale of the Company. HGS has retained Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC to assist in this process, with Skadden, Arps, Slate, Meagher & Flom LLP and DLA Piper LLP (US) serving as legal counsel.

GSK has been invited to participate in this process and HGS has requested additional information regarding investigational products in GSKs clinical pipeline to which HGS has substantial financial rights, including darapladib, currently in Phase 3 development for the treatment of cardiovascular disease, and albiglutide, currently in Phase 3 development for the treatment of type 2 diabetes.

There can be no assurance that any transaction will occur or if so on what terms. HGS does not intend to discuss the status of its evaluation unless and until a specific transaction has been approved.


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Watson Pharmaceuticals, Inc. (NYSE: WPI)
announced it has launched an authorized generic version of FORTAMET® (metformin hydrochloride extended-release tablets) as part of an agreement with Shionogi, Inc. Watson began shipping the product today. FORTAMET® is indicated as an adjunct to diet and exercise to lower blood glucose for patients 17 years of age or older.

For the most recent twelve months ending February 28, 2012, FORTAMET® had combined brand and generic sales of approximately $82 million, according to IMS Health data.



Also Thursday:




Baxter International Inc. (NYSE:BAX)
today posted solid first quarter financial results which exceeded the company’s previously issued revenue and earnings per share (EPS) guidance.

Baxter International Inc. (NYSE:BAX)
, a global leader in biologic medical therapies, today announced it will build a new state-of-the-art manufacturing facility in Georgia to support growth of its plasma-based treatments.

Biovest International, Inc. (OTCQB: BVTI)
, a majority-owned subsidiary of Accentia Biopharmaceuticals, Inc. (OTCQB: ABPI), today announced that Brett Johnson, President and Executive Editor of OneMedPlace, interviewed Biovest’s President and CEO, Samuel S. Duffey, and its Senior Vice President, Product Development & Regulatory Affairs, Carlos F. Santos, Ph.D.

Bristol-Myers Squibb Company (NYSE: BMY)
today announced results from the Phase IIb EMERGE clinical trial in 118 treatment-naïve patients chronically infected with genotype 2 or 3 hepatitis C virus (HCV).

Bristol-Myers Squibb Company (NYSE: BMY)
today announced results from a Phase II study in which treatment with an all-oral, dual direct-acting antiviral (DAA) regimen of daclatasvir, an investigational NS5A replication complex inhibitor, and asunaprevir, an investigational NS3 protease inhibitor, achieved undetectable viral load 24 weeks post-treatment (SVR24) in 77% (33/43) of difficult-to-treat genotype 1b hepatitis C (HCV) patients.

EP Global Communications Inc. (PINKSHEETS: EPGL)
announces that it will ask current shareholders to approve a 10:1 reverse split of common shares.

Exelixis, Inc. (NASDAQ:EXEL)
will release its first quarter 2012 financial results on Thursday, May 3, 2012, after the markets close.

GE Healthcare, a unit of General Electric Company (NYSE: GE), and NXT2B, a privately owned venture capital company, today announced they have entered into a joint financing agreement with the goal of developing a micro-scale radiotracer infrastructure including cyclotron and PET tracer production.

Genzyme
(EURONEXT: SAN and NYSE: SNY), today announced that its Biologics Support Center in Framingham, Mass., received a Gold certification under the U.S. Green Building Council's LEED® (Leadership in Energy and Environmental Design) Green Building Rating System™.

Gilead Sciences, Inc. (Nasdaq: GILD)
announced today that its first quarter 2012 financial results will be released on Thursday, April 26, at 4:05 p.m. Eastern Time.

GlobalWise Investments, Inc. (OTCBB: GWIV) (OTCQB: GWIV)
(www.GlobalWiseInvestments.com) and its wholly owned subsidiary Intellinetics, Inc., a leading-edge technology company focused on the design, implementation and management of cloud-based Enterprise Content Management ("ECM") systems in both the public and private sectors, today provide a case study for one of their clients, CareWorks (www.CareWorks.com).

Human Genome Sciences, Inc. (Nasdaq: HGSI)
today announced that it has received an unsolicited proposal from GlaxoSmithKline plc (GSK) to acquire HGS for $13.00 per share in cash.

Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) today announced results for the quarter ended March 31, 2012.

Merck (NYSE: MRK)
, known as MSD outside of the United States and Canada, announced final results from a Phase III, open-label study designed to compare the impact of two anemia management strategies on sustained virologic response (SVR)1 in patients with chronic hepatitis C virus (HCV) genotype 1 infection treated with VICTRELIS® (boceprevir) in combination with PEGINTRON® (peginterferon alfa-2b) and ribavirin (P/R).

Nuvilex, Inc. (OTCQB:NVLX)
reports Konrad Kuhn has included Nuvilex in his most recent KonLin Letter with a Buy recommendation, citing the company’s unique cell encapsulation technology for use with stem cells and treatment of pancreatic cancer and diabetes.

Opexa Therapeutics, Inc. (NASDAQ: OPXA)
, a biotechnology company developing Tovaxin®, a novel T-cell therapy for multiple sclerosis (MS), announced today that the Company will be holding a preliminary meeting with prospective clinical trial investigators at the 64th Annual American Academy of Neurology (AAN) Meeting in New Orleans on April 24, 2012.

UnitedHealth Group (NYSE: UNH)
today reported first quarter results, highlighted by strong enrollment and revenue growth in each of UnitedHealthcare’s benefits businesses and well-diversified revenue growth at Optum.

Sigma-Aldrich Corporation (Nasdaq: SIAL)
and the University of Illinois at Urbana-Champaign have entered into a licensing agreement through which Sigma-Aldrich will offer two widely-used membrane scaffold proteins used in Nanodisc technology, developed by Professor Stephen Sligar, Director of the School of Molecular and Cellular Biology.

Simulations Plus, Inc. (NASDAQ: SLP)
, a leading provider of simulation and modeling software for pharmaceutical discovery and development, announced today the release of ADMET Predictor™ Version 6.0 with an impressive set of expanded and powerful capabilities for molecular property predictions from structure.

Spectrum Pharmaceuticals (Nasdaq: SPPI)
, a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology, today announced that the company has been selected to be added to the S&P SmallCap 600® Index at the close of trading on Tuesday, April 24, 2012.

Synta Pharmaceuticals Corp. (NASDAQ: SNTA)
today announced that it will release its first-quarter 2012 financial results before the market opens on Thursday, May 3, 2012.

UnitedHealth Group (NYSE: UNH)
today reported first quarter results, highlighted by strong enrollment and revenue growth in each of UnitedHealthcare’s benefits businesses and well-diversified revenue growth at Optum.

XenoPort, Inc. (Nasdaq: XNPT) announced today that it will release its first quarter financial results on May 2, 2012 at approximately 4:30 p.m. Eastern Time.



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