News-Heavy Day For Several Biotech Stocks

Legal settlements, licensing and drug approvals were among stories Wednesday driving several biotech stocks. •Mayne Pharma MAYNF gained more than 6 percent to 0.72 cents a share after its patent dispute with Pfizer Inc. PFE reached a settlement. Australia-based Mayne expects to enter the U.S. market next year with a generic version of Pfizer's atrial fibrillation treatment Tikosyn. Terms of Mayne's agreement with Pfizer weren't disclosed. Mayne said Tikosyn U.S. sales last year were $150 million. •Myriad Genetics Inc. MYGN jumped nearly 5 percent after the company boosted its stock buyback plan by $200 million. •Aratana Therapeutics Inc. PETX ticked up more than 2 percent Wednesday after the veterinary drug company said it had regained the right to its AT-004 treatment for dog lymphoma. The product obtained U.S. approval last month and had been licensed to Novartis NVS. •Jazz Pharmaceuticals plc JAZZ changed hands recently up nearly 2 percent at $178.11. The shares dipped earlier after Jazz voluntarily suspended patient enrollment in a Phase 2 trial of its leukemia drug, JZP-416, based on negative reactions in some patients. •AbbVie Inc. ABBV and Merck & Co. Inc. MRK were little changed after U.K. drug regulators recommended approval for the companies Remicade and Simponi treatments for ulcerative colitis