The board of Human Genome Sciences (NASDAQ:HGSI) is being sued by a shareholder, and the court is being petitioned to stop the company from using its “poison pill” to prevent the $2.6 billion hostile takeover attempt by GlaxoSmithKline (NYSE:GSK).
Endo Health (NASDAQ:ENDP) resolves two patent lawsuits with Watson Pharmaceuticals (NYSE:WPI), which frees the latter to introduce its generic version of Lidoderm, Endo’s $1 billion-plus pain-relieving patch, beginning September 2013, upon gaining FDA approval. Under the agreement, Endo will receive 25 percent of Watson’s gross profit from the drug, as royalty.
Don’t Miss: Why is Vertex Selling Off Now?
Shares of Rosetta Genomics (NASDAQ:ROSG) continue on their eccentric odyssey, moving higher Tuesday following the announcement that data from studies of miRview mets2 in patients with cancer were published online in The Oncologist. The research exhibited the ability of the miRview mets2 assay to identify 42 tumor types with high accuracy.
Raptor Pharmaceutical (NASDAQ:RPTP) shares jump on word that the firm received exclusive rights from McGill University to intellectual property connected with a potential malaria treatment. Having obtained the patent, Raptor intends to capitalize on promising preclinical findings on the use of cysteamine and linked compounds in the treatment of malaria.
Investing Insights: Why Did Facebook Fall Hard to New Lows Today?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.