|Healthcare review : Questcor Pharmaceuticals, Amerigroup and Ampio Jump|
|By Staff and Wire Reports|
|Monday, 09 July 2012 15:47|
Shares of several Medicaid insurers are showing solid buying on news that WellPoint, Inc. (NYSE:WLP) reached an agreement to acquire AMERIGROUP Corporation (NYSE:AGP) in exchange of $4.46 billion or $92 a share, , a 43% premium to Friday's closing price, in all cash deal. Shares of AGP soared 38% to $88.85 and made a new 52-week high of $89.02.
Ampio Pharmaceuticals, Inc. (NASDAQ:AMPE) surged 4.15% after its Optima treatment for diabetes-related vision problems produced "encouraging" results in phase II testing. Ampio said it plans to discuss the next trial with the FDA at the end of the month.
Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) is among the notable gainer and gained 11.50% to $56.07 after hitting a fresh 52-week high of $58.91. This morning, the company reported month on month jump in preliminary June estimates for its shipped paid Acthar prescriptions driven by company’s effort to boost physician awareness for its prescriptions through expansion of its sales force. Questcor showed that paid prescriptions treating Nephrotic Syndrome stood at 115 to 120 for June, up from May's 103. In April, shipments for NS were below 100. Prescriptions treating multiple sclerosis are estimated between 400 and 410, up from 365 in May.
The FDA grants priority review to Bayer AG’s (PINK:BAYRY) and Johnson & Johnson’s (NYSE:JNJ) blood-clotting treatment Xarelto for use against deep vein thrombosis and pulmonary embolism, and the prevention of venous thromboembolism in people who have already had it. However, Bayer withdraws its request to use Xarelto to lower the risk of blood clots in heart-stent patients.
Nanosphere, Inc.(NASDAQ:NSPH) was upgraded by analyst at Roth Capital to Buy from Neutral and set a price target of $4.50 a share. Roth's upgrade adds to one from Jefferies last week following FDA approval in June of Nanosphere's bloodstream infection test.