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Watson Acquires Specifar Pharmaceuticals for $562M
Wednesday, May 25, 2011 - 7:57am | 198Watson Pharmaceuticals (NYSE: WPI) and Specifar Pharmaceuticals S.A. today jointly announced that Watson has acquired the privately-held multinational generic pharmaceutical developer, manufacturer and marketer for EUR 400 million ($562 million) in cash and certain contingent consideration. In...
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Akorn Announces Proposed Offering of $100 Million of Convertible Senior Notes Due 2016
Wednesday, May 25, 2011 - 7:32am | 82Akorn, Inc. (NASDAQ: AKRX) announced today that, subject to market conditions, it intends to offer $100 million principal amount of Convertible Senior Notes due 2016. The Notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as...
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A Peek Into The Market Before The Trading Starts
Wednesday, May 25, 2011 - 7:27am | 382Pre-open movers US stock futures are lower this morning, as investors are awaiting durable-goods data. Futures on the Dow Jones Industrial Average dropped 23 points to 12,304.00 and futures on the S&P 500 stock index fell 2.80 points to 1,310.80. Nasdaq 100 futures declined 3 points to 2,298.75...
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Wedbush Says Buy Avanir Pharmaceuticals On Weakness
Wednesday, May 25, 2011 - 7:26am | 165Wedbush is out with a research report on Avanir Pharmaceuticals (NASDAQ: AVNR), and it has an Outperform rating and a $13 price target on shares. In a note to clients, Wedbush writes, "On Tuesday after market close, the US Special Committee on Aging issued a press release detailing a hearing to be...
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VIVUS Announces Positive Phase 3 Results of Avanafil in Radical Prostatectomy Patients, Met All Primary Endpoints
Wednesday, May 25, 2011 - 7:09am | 201VIVUS, Inc. (NASDAQ: VVUS) today announced positive results from a phase 3, placebo-controlled clinical trial of the investigational drug avanafil for the treatment of erectile dysfunction in patients following a radical prostatectomy. The study (REVIVE-RP, TA-303) met all primary endpoints by...
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VIVUS Announces Positive Phase 3 Results of Avanafil in Radical Prostatectomy Patients
Wednesday, May 25, 2011 - 7:09am | 92VIVUS, Inc. (NASDAQ: VVUS) earlier today announced positive results from a phase 3, placebo-controlled clinical trial of the investigational drug avanafil for the treatment of erectile dysfunction in patients following a radical prostatectomy. The study met all primary endpoints by demonstrating...
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Shire Receives VYVANSE Paragraph IV Notice Letters
Wednesday, May 25, 2011 - 7:03am | 178Shire (NASDAQ: SHPGY) announces that its subsidiary Shire LLC has received Paragraph IV Notice Letters from Amneal Pharmaceuticals and Watson Laboratories, advising of the filing of Abbreviated New Drug Applications by each company for generic version of all strengths of lisdexamfetamine dimesylate...
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Morgan Stanley Provides Color on Johnson & Johnson, Equal-Weight
Wednesday, May 25, 2011 - 7:03am | 150Morgan Stanley provided color on Johnson & Johnson (NYSE: JNJ) ahead of the company's analyst day. In a research report published today, Morgan Stanley expressed its belief the company will soon turn the corner with the introduction of new products. In the report, Morgan Stanley states, "After...
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Abbott Receives U.S. FDA Approval for XIENCE nano to Treat Coronary Artery Disease in Small Vessels
Tuesday, May 24, 2011 - 4:41pm | 84Abbott (NYSE: ABT) today announced it has received U.S. Food and Drug Administration approval for the XIENCE nano Everolimus Eluting Coronary Stent System for the treatment of coronary artery disease in small vessels. XIENCE nano, which is based on the same platform as the XIENCE V® Everolimus...
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NASDAQ Stocks Hitting 52-Week Highs
Tuesday, May 24, 2011 - 10:17am | 154GT Solar International Inc (NASDAQ: SOLR) shares gained 11.10% to create a new 52-week high of $12.91. SOLR reported upbeat Q4 earnings and lifted its FY12 earnings forecast. Global Crossing Ltd (NASDAQ: GLBC) shares jumped 4.29% to create a new 52-week high of $31.61. GLBC announced its plans to...
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Citi Appointed Successor Depositary for Shire plc's Sponsored Level 2 ADR Program
Tuesday, May 24, 2011 - 10:09am | 54Citi (NYSE: C) today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by Shire plc (Nasdaq: SHPGY) as the successor depositary bank for its sponsored Level II American Depositary Receipt program.
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The Jensen Law Firm $10 Million Verdict Announces Against Johnson & Johnson Unit for Toxic Motrin Reaction
Tuesday, May 24, 2011 - 10:07am | 63Members of Fort Worth, Texas-based Jensen Law Firm announce a $10 million verdict in compensatory damages against Johnson & Johnson's McNeil Consumer Products (NYSE: JNJ) unit on behalf of 13-year-old Brianna Maya and her family. Brianna suffered disfiguring, life-altering skin burns and...
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News Summary
Tuesday, May 24, 2011 - 9:50am | 272Shares of Valeant Pharmaceuticals International Inc (NYSE: VRX) gained about 3.7% after the company announced its plans to acquire Lithuania-based AB Sanitas for around 314 million euros ($442.9 million) in cash. The transaction also includes 50 million euros of Sanitas debt. The deal is likely to...
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Piper Jaffray Reiterates Overweight and PT of $72 on Watson Pharmaceuticals
Tuesday, May 24, 2011 - 9:20am | 161Piper Jaffray reiterated its Overweight rating on Watson Pharmaceuticals (NYSE: WPI). At the same time, Piper Jaffray left its price target unchanged at $72. In a research report published today, Piper cited the company's strong performance in the generic drugs market as the reason for its decision...
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Marina Biotech Demonstrates That Its Proprietary Conformationally Restricted Nucleotides Technology Is Highly Active as a microRNA Antagonist
Tuesday, May 24, 2011 - 8:38am | 150Marina Biotech, Inc. (NASDAQ: MRNA) reported data demonstrating increased hybridization affinity and activity with the Company's proprietary Conformationally Restricted Nucleotide technology. When substituted into an oligonucleotide complementary to miR-21, the melting temperature was increased...