4 Healthcare Stock Stories for Thursday Investment Wellness

Eli Lilly and Co. (NYSE:LLY): Closing price $49.92

Lilly anticipates the loss of roughly 20 percent of its global revenue in 2014 due to the expiry of key drug patents, and so is suspending base pay increases for the majority of its employees next year to lower costs. At the end of 2013, Lilly’s current largest product, the antidepressant Cymbalta, will lose patent protection, while copied forms of its $1 billion a year Evista osteoporosis drug should emerge in early 2014. The company has also elected to reduce employee bonuses paid out in 2015 for next year.

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LLY

Celgene Corporation (NASDAQ:CELG): Closing price $133.05

On Thursday, Celgene said that following consultation with the FDA, the firm will discontinue treatment with Revlimid (lenalidomide) in the open-label, phase III ORIGIN trial, in which 450 patients were enrolled in more than 100 sites in 26 countries. An imbalance was seen in the number of deaths in patients treated with lenalidomide, compared with patients treated with chlorambucil. The FDA put the ORIGIN study on clinical hold on July 12, with the discontinuation of lenalidomide treatment. All clinical investigators participating in ongoing chronic lymphocytic leukemia studies that use lenalidomide will be officially advised of this action and instructed to notify their patients accordingly.

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CELG

Mylan Inc. (NASDAQ: MYL): Closing price $32.30

The United States District Court for the Northern District of West Virginia has granted Mylan’s motion for partial summary judgment, after finding the production and marketing of Teva’s generic version of Mylan’s Perforomist Inhalation Solution infringes one of Mylan’s Orange Book listed patents (U.S. Patent No. 6,667,344) on Perforomist. Teva’s abbreviated new drug application for a generic Perforomist has not yet won tentative, or final, approval by the FDA.

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MYL

Transition Therapeutics Inc. (NASDAQ: TTHI): Closing price $4.17

Transition said that the FDA has granted Fast Track Designation to the development program for ELND005, which was submitted for the treatment of neuropsychiatric symptoms in Alzheimer’s disease. The agency found that the development program for ELND005, for the treatment of NPS in AD, meets their criteria for Fast Track Designation.

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TTHI

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