2 Top Stories Affecting Dow 30 Healthcare Stocks This Week
Pfizer (NYSE:PFE): Current price $26.85
Shares of the Israeli pharmaceutical firm Protalix BioTherapeutics (AMEX:PLX) have taken off, following the website Calcalist reporting that the company is in discussions to be purchased for $1 billion. Pfizer has shown interest in acquiring Protalix, but at a valuation below the amount that Protalix prefers, says the website, which adds that Protalix’s board has chosen Citigroup (NYSE:C) to manage the selling process.
Johnson & Johnson (NYSE:JNJ): Current price $75.46
A surgeon in Montana has testified that he ceased the use of Johnson & Johnson’s ASR all-metal hip device eight months prior to the recall because a sales representative warned him about problems with the implant, says Bloomberg. Peter Wendt affirmed that he implanted 76 ASRs, including one in Loren Kransky, 65, of Montana. Kransky’s lawsuit is the first of 10,000 to go to court in regards to claims that J&J’s DePuy unit defectively designed the 93,000 hips recalled in August 2010, and did not warn of the risks. For its part, the firm denies that it defectively designed the device or that it contributed to the health problems of Kransky.
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