4 Healthcare Stock Stories for Weekend Investment Wellness

Eli Lilly and Company (NYSE:LLY): Current price $57.69

The Indianapolis-based drug maker Eli Lilly and Co. will lay off hundreds of sales representatives in the United States by July 1 to deal with the loss of some of its top-selling products, which are facing patent cliffs. The firm would not give an exact number of layoffs, except to say that it will impact fewer than 1,000 full-time employees, along with an undetermined number of contract workers. Lilly spokesman J. Scott MacGregor said on Thursday that the cuts will affect “only a handful” of employees in Indiana — probably fewer than 20 These people are really spread out all over the country.”

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LLY

Rite Aid Corp. (NYSE:RAD): Closing price $2.30

Rite Aid posts its second consecutive quarterly profit and first yearly profit in six years, as generic drugs, a rise in prescriptions and a drop in some expenses helped the drugstore chain. Shares jumped almost 19 percent, or 34 cents, to hit a new 52-week high price of $2.13 on Thursday after results were reported. Rite Aid said that it earned $124.4 million, or 13 cents per share, in its fiscal fourth quarter which ended March 2nd, which compares with a loss of $163.8 million, or 18 cents per share, year-over-year.

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RAD

Pluristem Therapeutics (NASDAQ: PSTI): Current price $3.09

Pluristem has reported that subsequent to favorable preclinical studies, United Therapeutics Corporation received the green light to perform a human Phase I evaluation in Australia using Pluristem’s PLacental eXpanded cells in patients diagnosed with Pulmonary Arterial Hypertension. On June 20, 2011 United Therapeutics and Pluristem entered into a licensing agreement through which United Therapeutics will develop, market and sell Pluristem’s PLX-PAD cells for PAH.

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PSTI

Covidien (NYSE: COV): Current price $68

On Thursday, the healthcare products provider announced an agreement with VIDA Diagnostics, who pioneered quantitative pulmonary imaging analysis software. Through the terms, Covidien will distribute VIDAs Apollo pulmonary imaging software services. This accord allows Covidien to offer a unique combination of market-leading technologies from VIDA and Covidiens i-Logic” lung navigation system. i-Logic provides pulmonary physicians and other clinicians with enhanced detail for the minimally invasive diagnosis and treatment planning of lung cancer, chronic obstructive pulmonary disease , asthma and other lung diseases.

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COV

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