Healthcare Biz Cheat Sheet: Merck Wins Fourth FOSAMAX Lawsuit, Home-Health Companies Under Federal Investigation
Momenta Pharmaceuticals (NASDAQ:MNTA) has announced that it’s seeking a temporary restraining order in its pursuit to prevent Watson Pharmaceuticals (NYSE:WPI) and its partners from launching a blood thinner in the U.S.
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Oxygen Biotherapeutics (NASDAQ:OXBT) is trading lower after announcing Friday that its interim director Rene Eckert and director J. Melville Engle have both resigned.
Adventrx Pharmaceuticals (AMEX:ANX) is trading lower after the FDA says the company will need to repeat a study of its lung cancer treatment Exelbine because it can’t verify the authenticity of the findings of its previous trial.
Merck (NYSE:MRX) has won a case in federal court, where a Florida woman claimed that her usage of FLOSAMAX contributed to dental and jaw-related problems. This marks the fourth case in which FOSAMAX was targeted in a liability suit, and the fourth verdict in favor of Merck.
A Senate Finance Committee inquiry has found that the nation’s three largest home-health companies — Amedisys (NASDAQ:AMED), LHC (NASDAQ:LHCG), and Gentiva (NASDAQ:GTIV) — tailored the care they provided to Medicare patients in order to maximize reimbursements.
HeartWare (NASDAQ:HTWR) has announced clinical data from its heart transplant study showing a high survival rate for patients after six months.
NuPathe (NASDAQ:PATH) has found a low incidence of adverse events in a 12-month repeat-use trial of its Zeltrix migraine patch.
Afexa Life Sciences has agreed to be bought by Valeant Pharmaceuticals (NYSE:VRX), unanimously backing its all-cash takeover offer after the company raised its bid to beat a competing offer from Paladin Labs.
Pharmaceuticals Product Development (NASDAQ:PPDI) has agreed to be taken private by Carlyle Group and Hellman & Friedman in a $3.9 billion all-cash buyout. The private equity firms will pay $33.25/share, a premium of over 30% on the stock’s closing price Friday.
WellPoint (NYSE:WLP) has added $5 billion to its stock buyback authorization.
The Medicines Company (NASDAQ:MDCO) has settled patent litigation with Teva (NASDAQ:TEVA) in relation to generic versions of Angiomax, in which Teva admits that two patents asserted in the lawsuit filed by Medicines are valid and enforceable.
Emergent BioSoluations (NYSE:EBS) has won a 5-year, $1.25 billion deal to supply its BioThrax anthrax vaccine to the U.S. government. BioThrax is the only anthrax vaccine licensed by the FDA to prevent anthrax infection.
Sangamo BioSciences (NASDAQ:SGMO) didn’t meet the clinical endpoints it had hoped for in a Phase 2b trial of its SB-509 drug for treating diabetic neuropathy, and will discontinue development of the drug.