Healthcare Biz Cheat Sheet: Cigna Buys HealthSpring, FDA Approves Neuralstem’s ALS Treatment
The FDA has approved the first generic versions of Zyprexa tablets and Zyprexa Zydus orally disintegrating tablets used to treat schizophrenia and bipolar disorder. The drugs will be jointly manufactured and distributed by Dr. Reddy’s Labs (NYSE:RDY), Teva Pharmaceuticals (NASDAQ:TEVA), and Par Pharmaceuticals (NYSE:PRX).
Hot Feature: Obama’s New Housing Plan Unveiled
Neuralstem (AMEX:CUR) has received FDA approval to advance to transplanting patients in the upper back region with spinal cord stem cells to treat ALS after previously only injecting in the lower back region.
Affymax (NASDAQ:AFFY) has announced the FDA will review its application for its Peginesatide drug, which treats anemia in patients with chronic kidney disease, on December 7, with an “action date” for the application set for March 27, 2011.
Exelixis (NASDAQ:EXEL) was trading higher today after announcing positive top-line results from its Phase 3 clinical trial of cabozantinib in patients with medullary thyroid cancer.
Cigna (NYSE:CI) will pay about $3.8 billion, or $55 a share, to buy HealthSpring in an acquisition that will boost Cigna’s Medicare Advantage operations. The sale price represents a 37% premium over HealthSpring’s closing price Friday of last week.