4 Healthcare Stock Stories for Health-Conscious Investors
Biogen IDEC (NASDAQ:BIIB): Closing price $146.43
Biogen’s longer-lasting injectable multiple sclerosis drug, peginterferon beta-1a, met the goals of a late-stage evaluation by helping to reduce the risk of relapse by 36 percent when given every two weeks. further, the medication reduced patients’ danger of flare-ups by 28 percent when dosed every four weeks compared with placebo. Based on these results, Biogen will to apply this year for regulatory approval both in Europe and in the United States. Peginterferon is in the same class of drugs as is Biogen’s top seller, Avonex, which generated $2.7 billion in 2011 revenue.
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Pfizer (NYSE:PFE): Current price $26.86
Pfizer said that a Phase 4 study evaluating the efficacy and safety of Toviaz (fesoterodine fumarate) 8 mg once daily in patients with overactive bladder compared to Toviaz 4 mg once daily or placebo met its primary endpoint, bringing change in mean number of urge urinary incontinence episodes per 24 hours from baseline to week 12. Toviaz 8 mg decreased urge urinary incontinence in patients suffering with OAB statistically significantly more than Toviaz 4 mg and the efficacy of both doses was statistically significant versus placebo. The most common treatment-emergent side effects were dry mouth, constipation and urinary tract infection.
Herbalife (NYSE:HLF): Closing price $43.25
At an investor meeting on Wednesday, David Einhorn reported that his Greenlight Capital hedge fund had closed a short position in the firm in 2012, according to knowledgeable sources. Einhorn also advised the group that the short sale was profitable, but he did not disclose the magnitude of the profit or the position.
ARIAD Pharmaceuticals (NASDAQ:ARIA): Closing price $19.38
On Thursday, ARIAD reported the pricing of an underwritten public offering of 15,307 million shares of its common stock at a public price of $19.60 per share. The offering is should close on or about January 29th, subject to the usual closing conditions. Also, the firm has granted the underwriters a 30-day option to buy up to 2,296,050 additional shares of stock to cover any over-allotments.
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