3 Healthcare Stock Stories Creating a Tuesday Buzz

3M Co. (NYSE:MMM): Closing price $117.50

Adamis Pharmaceuticals Corporation announced Tuesday that it will exclusively license and, with additional payment, fully purchase 3M Co.’s Taper Dry Powder Inhaler tech currently under development for the treatment of asthma and chronic obstructive pulmonary disease. Through the terms, Adamis will obtain global rights to use the platform tech in all indications in the dry powder inhalation field. The unique design employs proprietary 3M tech by which to store active pharmaceutical ingredients on a microstructured carrier tape. The seller will provide the drug delivery tape for the platform to Adamis through a separate supply arrangement.

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Vanda Pharmaceuticals Inc. (NASDAQ:VNDA): Closing price $11.14

On Tuesday, Vanda said that it will offer and sell shares of its common stock in an underwritten public offering, which will be subject to market conditions, and that  there can be no assurance as to whether or when the offering may be finalized — or as to the actual size or terms of the offering. The firm also expects to allow the underwriters a 30-day option to buy up to an additional 15 percent of the shares offered in the public offering to cover any over-allotments.

The entirety of the shares in the offering are to be sold by Vanda with net proceeds to be used for sales and marketing expenditures. This could include commercial launch activities for tasimelteon for the treatment of Non-24-Hour Disorder following the receipt of regulatory clearance, if any, research and development activities along with other general corporate purposes.

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Abbott Laboratories (NYSE:ABT): Closing price $36.10

China’s national quality watchdog asked a Chinese division of Abbott Laboratories on Tuesday to recall two infant formula products, representing the latest in a series of recalls after the New Zealand dairy major Fonterra Co-Operative Group Ltd. said that a number of their products could contain bacteria that could cause severe food poisoning.

In a statement on its website, the General Administration of Quality Supervision, Inspection and Quarantine said that it was informed by the New Zealand embassy late on Monday that two batches of infant formula products produced by Abbott Laboratories Trading (Shanghai) Co, Ltd. might have been tainted by Clostridium botulinum, which is a type of bacteria that can cause botulism, affecting the nervous and respiratory systems. The two batches of products were both manufactured on May 2 and will expire on Oct. 31, 2015, according to the Administration.

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