4 Healthcare Stock Stories Buzzing Away on Wednesday
Vivus Inc. (NASDAQ:VVUS): Closing price $10.16
BofA/Merrill Lynch on Wednesday maintained its Buy on Vivus, along with a price target at $17. The firm’s new Chief Executive Seth Fischer, commenting upon a potential partnership deal for Qsymia, said that discussions with potential partners are going well, adding that talks had not stalled because of management changes and that potential partners are not worried about Qsymia IP problems. Fischer said that Vivus would expand its sales force if can not secure a partner.
Zogenix, Inc. (NASDAQ:ZGNX): Closing price $2.24
Zogenix announced that it was advised on Wednesday by the FDA that an action letter on the new drug application for Zohydro ER (hydrocodone bitartrate) extended-release capsules might follow after a further delay of short duration. The FDA had previously told the company that it expected to release an action letter over the summer. The original PDUFA goal date had been March 1, 2013. Zogenix is a pharmaceutical firm that develops and commercializes products for the treatment of central nervous system disorders and pain.
Response Genetics, Inc. (NASDAQ:RGDX): Closing price $2.35
On Wednesday, Response Genetics said that it has reached an agreement with Three Rivers Provider Network, which is one of the biggest and fastest-growing proprietary domestic PPO networks. The latter offers healthcare benefits to more than 10 million members spanning the United States via its supplemental PPO Network Foundation. This partnership between the two firms will offer Three Rivers Provider Network and its clients enhanced access to precision medicine. Response Genetics is a company centered on the development and sale of molecular diagnostic tests that help determine a patient’s response to cancer therapy.
AstraZeneca Plc (NYSE:AZN): Closing price $52.10
The United States Court of Appeals for the Federal Circuit has lifted a temporary block that disallowed South Korea’s Hanmi Pharmaceutical from debuting a close relative of AstraZeneca’s Nexium stomach-acid drug in the United States. On Wednesday, AstraZeneca said that the court had removed the temporary injunction on Hanmi’s esomeprazole strontium product that had been imposed in September, while a legal dispute continues. Britain’s number-two drugmaker has accused Hanmi of patent infringement by developing the competing drug, which is not chemically identical to Nexium and would not be automatically interchangeable for Nexium at pharmacies.