4 Healthcare Stock Stories Making Waves On Monday

Eli Lilly and Company (NYSE:LLY): Closing price $52.36

Lilly will pay the Canadian drug developer Transition Therapeutics $7 million, and assume control of the development of a potential diabetes treatment that  is moving into mid-stage clinical testing. Transition reported on Monday that it also could receive as much as $240 million in additional royalties along with royalties once the treatment is eventually approved and sold. The company will also pay Lilly $14 million in three installments during the mid-stage study. The treatment, which is labeled TT-401, is being developed to treat the most common form of diabetes, type 2, and the accompanying obesity.

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Celgene Corporation (NASDAQ:CELG): Closing price $117.70

On Monday, Celgene International Sàrl was advised that the European Commission has modified the marketing authorization for Revlimid. This action means that the drug is now cleared to treat patients having transfusion-dependent anemia because of low or intermediate-1 risk myelodysplastic syndromes linked with an isolated deletion 5q cytogenetic abnormality, when other therapeutic options prove insufficient or inadequate.

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Valeant Pharmaceuticals International (NYSE:VRX): Closing price $84.82

Valeant announced Monday that it has filed a preliminary prospectus supplement to its effective shelf registration statement on Form S-3 and has also produced a similar filing with securities regulatory authorities in each province of Canada in regards to a public offering of its common shares, through which to raise gross proceeds of around $1.75 billion. The firm will also allow the underwriters an option, exercisable for a period of 30 days after the date of the final prospectus supplement, to buy additional shares equal to as much as 15 percent of the common shares initially sold.

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MannKind Corporation (NASDAQ:MNKD):Closing price $7.54

The corporation announced Monday that all follow-up visits have been finalized for the patients enrolled in Study 175, which is a Phase 3 clinical evaluation of Afrezza (insulin human [rDNA origin]) inhalation powder, an investigational, ultra rapid-acting mealtime insulin therapy, conducted utilizing MannKind’s next-generation inhaler. The company expects to release data from this study later in the summer. Study 175 examined Afrezza using the next-generation inhaler in patients suffering from type 2 diabetes whose disease is inadequately controlled on metformin, with or without a second or third oral medication.

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