3 Healthcare Stock Stories Making Waves on Tuesday

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA): Closing price $39.52

On Tuesday, Goldman Sachs downgraded Teva shares from Neutral to Sell, and also lowered the price target from $41 to $40. Analyst Jami Rubin can’t seem to find a silver lining for the stock, observing, “We downgrade Teva from Neutral to Sell with no upside to our price target, versus high-single-digit upside to the total return average for our group. While the pharma space has been awash with accretive deal activity, TEVA has been relatively quiet as the focus remains on re-building its pipeline. We also see Teva as facing increasing pressure from an accelerated generic Copaxone timeline, and thus potentially facing fewer options with respect to capital allocation.”

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TEVA

Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA): Closing price $4.63

Alexza announced Tuesday that its commercial partner Grupo Ferrer Internacional S.A. has commenced sales of Adasuve inhalation powder, pre-dispensed (Staccato Loxapine) in the European Union. The medication is now available in Germany. The initial sale and shipment of product by Ferrer triggers a $1.25 million milestone payment to Alexza, through a collaboration agreement with Ferrer. Alexza received marketing authorization for Adasuve from the European Commission in February.

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ALXA

Life Technologies Corporation (NASDAQ: LIFE): Closing price $74.66

Life Technologies said Tuesday that it has reached a five-year agreement with the FDA to accelerate and advance food safety testing of E. coli and Salmonella, which are two foodborne contaminants commonly linked with outbreaks and/or recalls. The firm will employ its bioinformatics resources to independently develop real-time PCR (polymerase chain reaction) assays against unique E. coli and Salmonella targets, working jointly with the FDA, and will then supply the test results for these targets to the FDA for further validation.

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LIFE

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