4 Healthcare Stock Stories For Thursday Inspection

Forest Laboratories (NYSE:FRX): Closing price $39.85

Forest reported Tuesday that, through an agreement with Carl C. Icahn and affiliated entities, the board has named Vincent J. Intrieri as a new independent member. Fulfilling a part of the arrangement, Icahn agreed to vote the shares that he controls in support of Forest’s 11 director nominees and thus to not run a proxy contest at the firm’s 2013 annual meeting. He is also voting in favor of certain standstill restrictions that will be in effect generally as long as Intrieri serves on the Board. The latter will become the fifth member of the independent committee that monitors succession planning.

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FRX

St. Jude Medical (NYSE:STJ): Closing price $43.85

The world medical device firm has announced that the FDA has okayed its next-generation Ellipse and SJM Assura portfolio of implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators. These novel devices were created to reduce the risk of lead abrasion and to ensure high-voltage therapy delivery. “We are pleased that the FDA approved these devices, allowing us to bring important safety and system reliability enhancements to patients,” St. Jude commented. “The Ellipse and SJM Assura family of devices feature the DynamicTx Over-Current Detection Algorithm, which automatically adjusts shocking configurations to ensure the delivery of high-voltage therapy even if anelectrical short in one portion of the system were to occur.”

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STJ

Arena Pharmaceuticals (NASDAQ: ARNA): Closing price $8.77

Analyst Edward A. Tenthoff at Piper Jaffray, in a report published on Tuesday, elevated the price target on Arena shares from $9 to $12.50, and maintained its rating of Overweight. In the report, Piper Jaffray remarked that, “We view this pre-launch familiarity  and high intention to prescribe as good general signs for the Belviq launch. We  forecast U.S. Belviq sales of $68 million in 2013, although Eisai management has  guided for Belviq sales of $150 million during the first 9 months of launch  through March 2014.”

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ARNA

ARIAD Pharmaceuticals (NASDAQ:ARIA): Closing price $18.94

On Tuesday, ARIAD announced the start of the Phase 2 trial of Iclusig (ponatinib) in adult patients suffering from metastatic and/or unresectable gastrointestinal stromal tumors. The trial is created to provide initial clinical data examining the efficacy and safety of ponatinib in patients with GIST, after failure of prior tyrosine kinase inhibitor therapy. This trial marks an important phase in ponatinib’s expanded clinical development beyond Philadelphia-positive leukemias and into solid tumors.

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ARIA

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