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InSite Vision Announces Joint Patent Infringement Lawsuit with Merck Against Sandoz
Thursday, May 26, 2011 - 3:54pm | 102InSite Vision Incorporated (INSV) today announced that it will join Merck (NYSE: MRK), known as MSD outside the United States and Canada, and Pfizer Inc. (NYSE: PFE) in filing a patent infringement lawsuit against Sandoz Inc. Sandoz recently filed an Abbreviated New Drug Application with the U.S...
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J&J Talks Pharmaceuticals With Investors
Thursday, May 26, 2011 - 1:51pm | 134In an effort to capitalize on the booming pharmaceutical market, which is expected to grow to more than $1 trillion by 2015, Johnson & Johnson (JNJ) said it will review growth strategies for its pharmaceuticals business at a meeting with investors on Thursday. Senior leaders from the company's...
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Amarin Shares Rise 2.75%
Thursday, May 26, 2011 - 12:09pm | 90Shares of red-hot biotech firm Amarin Corp. (NASDAQ: AMRN) are rallying again on Thursday. The stock is up another 2.75% to $19.05. Over the last 5 trading sessions, AMRN has jumped around 12%. The company is developing a cardiovascular drug called AMR101, which has shown positive results in two...
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UPDATE: Global Hunter Initiates Biodel at Accumulate
Thursday, May 26, 2011 - 9:32am | 190Global Hunter is out with its report today on Biodel (NASDAQ: BIOD), initiating BIOD at Accumulate. In a note to clients, Global Hunter writes, "We believe Biodel's key value-driver, an ultra-rapid formulation of insulin, could generate important data in 3Q11. While early, data from this study...
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Joel Greenblatt: One Bubble After Another
Thursday, May 26, 2011 - 8:40am | 436Joel Greenblatt, of Gotham Asset Management, spoke at the Ira Sohn Conference yesterday, and said that we have been in one continuing bubble since 2000, just different kinds of bubbles. Since 2000, we have experienced the Internet bubble, which led to the NASDAQ crashing some 50%, of which it...
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Jefferies Gives Update On RDEA
Thursday, May 26, 2011 - 8:38am | 107Jefferies is maintaining its Buy rating and its $32 price target on Ardea Biosciences (NASDAQ: RDEA) in light of recent data reported on the company's gout therapy In the report, Jefferies writes, “RDEA released 28-week extension data along with incremental data from Study 203 evaluating the...
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ICON Selected by Pfizer as a Global Strategic Partner for Clinical Research and Development
Thursday, May 26, 2011 - 8:35am | 46ICON plc, (NASDAQ: ICLR) today announced a strategic partnership with Pfizer Inc. (NYSE: PFE) which will see it serve as one of two preferred providers of clinical trial implementation services.
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Benzinga's Top Pre-Market NASDAQ Losers
Thursday, May 26, 2011 - 8:23am | 156Rigel Pharmaceuticals Inc (NASDAQ: RIGL) dipped 5.77% to $8 in the pre-market session. RIGL reported that it intends to offer and sell shares of its common stock in an underwritten public offering. Complete Genomics Inc (NASDAQ: GNOM) dropped 1.65% to $13.10 in the pre-market trading. GNOM priced...
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Bank of America Reiterates Buy and PT of $40 on Ardea Biosciences
Thursday, May 26, 2011 - 8:04am | 115Bank of America reiterated its Buy rating and PT of $40 on Ardea Biosciences (NASDAQ: RDEA). In a research report published today, Bank of America states, "We rate RDEA shares Buy and derive our PO from expectations that RDEA594 could take meaningful share in the US gout market upon launch....
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Oppenheimer Reports Buying Opportunity On Ardea Biosciences
Thursday, May 26, 2011 - 7:57am | 132According to Oppenheimer, Ardea Biosciences (NASDAQ: RDEA) reported additional lesinurad data at the annual EULAR conference, more detail from the Phase IIb study of lesinurad in combination with Allopurinol. Oppenheimer said that, “Importantly, (1) we view the high rate (91%) of sustained uric...
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Akorn Announces Pricing of $100 Million of Convertible Senior Notes Due 2016
Thursday, May 26, 2011 - 7:33am | 98Akorn (NASDAQ: AKRX) announced today the pricing of its $100 million aggregate principal amount of 3.50% Convertible Senior Notes due 2016. Akorn has also granted to the initial purchasers of the Notes a 30-day over-allotment option to purchase up to an additional $20 million aggregate principal...
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Johnson & Johnson Highlights Strategies for Growth Through Differentiated Medicines, Transformational Pipeline and Global Product Launches
Thursday, May 26, 2011 - 7:33am | 54Johnson & Johnson (NYSE: JNJ) will review growth strategies for its Pharmaceuticals business at a meeting with the investment community today. Senior leaders from the company's executive committee and pharmaceuticals segment will review how the business plans to address some of the world's...
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Akorn Announces Pricing of $100 Million of Convertible Senior Notes Due 2016
Thursday, May 26, 2011 - 7:30am | 99Akorn, Inc. (NASDAQ: AKRX) announced today the pricing of its $100 million aggregate principal amount of 3.50% Convertible Senior Notes due 2016. Akorn has also granted to the initial purchasers of the Notes a 30-day over-allotment option to purchase up to an additional $20 million aggregate...
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Pharmasset Announces All-Oral Combination Study with PSI-7977 for HCV Genotypes 1, 2 and 3 Initiated
Thursday, May 26, 2011 - 6:58am | 76Pharmasset, Inc. (Nasdaq: VRUS) announced today the initiation of a Phase 2a trial investigating the combination of Pharmasset's PSI-7977, a nucleotide polymerase inhibitor, and BMS-790052, Bristol-Myers Squibb Company's (NYSE: BMY) NS5A replication complex inhibitor, for the treatment of chronic...
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Citi Reiterates Buy on Watson Pharmaceuticals, Raises PT to $72
Thursday, May 26, 2011 - 6:56am | 200Citi reiterated its Buy rating on Watson Pharmaceuticals (NYSE: WPI). At the same time, Citi raised its price target on the stock from $66 to $72. In a research report published today, Citi stressed it feels confident Watson's acquisition of Specifar Pharma will create additional value for the...