Healthcare Biz Cheat Sheet: Onyx and SciClone Settle Lawsuits, BSD Finds Successful New Cancer Therapy
A California court has granted preliminary approval for SciClone Pharmaceuticals (NASDAQ:SCLN) to settle a number of derivative lawsuits filed against the company by shareholders.
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Regeneron Pharmaceuticals (NASDAQ:REGN) is trading lower after Bloomberg reported that Roche’s Avastin drug, a rival to Regeneron’s Eylea, may continue to be reimbursed by the U.S. government. Last month, the Department of Veteran Affairs dropped Avastin, giving Regeneron shares a boost. Last week, Blue Shield of California dropped Avastin.
BSD Medical (NASDAQ:BSDM) says study results demonstrate an improved survival rate for pancreatic cancer patients using its heat therapy treatment in conjunction with chemotherapy and radiation when compared to patients being treated with chemo and radiation therapy alone, without the heat therapy.
The Cooper Companies (NYSE:COO) says it is continuing to work with the FDA to complete a recall for some of its Avaira Toric contact lenses.
Onyx Pharmaceutical (NASDAQ:ONXX) has agreed to settle and dismiss all claims related to a complaint filed by Onyx against Bayer. They will restructure their partnership for developing and marketing Nexavar tablets, and will enter a new agreement related to the late-stage oncology compound regorafenib.
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“Rising healthcare costs and the impact of federal healthcare reform” have moved Wells Fargo (NYSE:WFC) to move employees into HSA-style accounts, which will have lower premiums but be funded with employees’ pre-tax dollars, thus encouraging them to spend less.