Healthcare Biz Cheat Sheet: FDA Approves Amgen’s Osteoporosis Drug, Blackstone and Prestige Among GlaxoSmithKline Bidders
According to an SEC filing, several of Savient Pharmaceuticals’ (NASDAQ:SVNT) key executives, including CEO John Johnson, purchased stock in the company last week. The news has the company’s stock soaring today.
Aastrom (NASDAQ:ASTM) has announced that clinical trials for its drug ixmyelocel-T showed that treatment was well-tolerated, and patients demonstrated improved heart function.
The FDA has announced it has improved Amphastar Pharmaceuticals to market a generic version of Lovenox, a blood thinner made by Momenta Pharmaceuticals (NASDAQ:MNTA). The news has Momenta’s stock crashing.
This morning, Goldman Sachs (NYSE:GS) cut Forest Labs (NYSE:FRX) shares to “sell”, saying the company’s product line is in decline and it has higher operating leverage costs. Also today, Jefferies has upgraded Bristol Myers (NYSE:BMY) to “buy”.
The FDA has approved Amgen’s (NASDAQ:AMGN) Prolia osteoporosis drug to be used for increasing bone mass in breast cancer and prostate cancer patients. Amgen reported $44 million in Prolia sales during its second quarter.
Robert Palmisano has been named President and CEO of Wright Medical Group (NASDAQ:WMGI) after a five-month search following the resignation of the company’s CEO in the midst of a scandal earlier this year.
Prana Biotechnology (NASDAQ:PRAN) has published an update on its experimental drug PBT2 for the treatment of Alzheimer’s Disease. The study explains how the drug is able to restore cognition in Alzheimer’s patients by repairing brain sections affected by the disease.
Blackstone (NYSE:BX) and Prestige Brands (NYSE:PBH) are reportedly among the bidders for GlaxoSmithKline’s (NYSE:GSK) over-the-counter consumer drug business, which had 2010 sales of about $780 million and is valued in a range of $2.3 billion to $3.1 billion.
A Federal court has ruled in favor Sanofi (NYSE:SNY) over Sun Pharmaceuticals in a patent dispute relating to the drug Eloxatin, maintaining Sanofi’s U.S. market exclusivity for the drug through August 9, 2012.
Sangamo BioSciences (NASDAQ:SGMO) has announced results from a Phase 1 clinical program to develop an HIV/AIDS therapeutic treatment, saying their treatment interruption studies “are very exciting and represent significant progress toward a ‘functional cure’ for HIV/AIDS.”