4 Healthcare Stock Stories to Invite Wellness
Covidien (NYSE:COV): Closing price $62.25
On Tuesday, Covidien announced that Mallinckrodt will to apply to list its ordinary shares on the New York Stock Exchange to trade under the symbol MNK. The former intends to spin off its Pharmaceuticals division into Mallinckrodt, which will be a stand-alone firm, a process that should be completed in mid-2013.
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Perrigo Company (NASDAQ:PRGO): Closing price $105.98
Perrigo announced has received FDA clearance for its New Drug Application for testosterone gel 1 percent. The application included a bioequivalence evaluation that compared its product to AbbVie’s AndroGel 1 percent, which is indicated to treat adult males who having low or no testosterone. Yearly sales were about $705 million annually, as measured by Symphony Health.
Protalix BioTherapeutics (AMEX:PLX): Closing price $6.17
Shares of the Israeli pharmaceutical firm Protalix BioTherapeutics have taken off, following the website Calcalist reporting that the company is in discussions to be acquired for $1 billion. Pfizer has shown interest in acquiringing Protalix, but at a valuation below the amount that Protalix prefers, says the website, which adds that Protalix’s board has chosen Citigroup to manage the selling process.
Somaxon Pharmaceuticals (NASDAQ:SOMX): Closing price $3.06
The specialty pharmaceutical firm Somaxon announced late Tuesday that it has reached a settlement agreement with Actavis Elizabeth and Actavis to resolve pending patent litigation involving Silenor 3 mg and 6 mg tablets. The terms allow Actavis the right to start selling a generic version of Silenor on January 1, 2020, or earlier under certain cconditions. The agreement will become effective upon the entry by the United States District Court for the District of Delaware of an order dismissing the litigation with respect to Actavis.
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