Healthcare Business Recap: Humana Earnings, Smith & Nephew’s Fine
Threshold Pharmaceuticals’ (NASDAQ:THLD) news of its mega-deal with Merck KGaA (NYSE:MRK) was announced on Friday. The deal was made to co-develop and commercialize its TH-302 cancer treatment drug, and calls for the company to receive $25 million up front and another $525 million down the line from Merck.
BioLineRX (NASDAQ:BLRX) an Israeli firm, signs a license agreement with Genoscience and RFS Pharma to develop and commercialize its oral hepatitis C treatment.
Investing Insights: InterMune Inc. Fourth Quarter Earnings Sneak Peek.
Anacor Pharmaceuticals (NASDAQ:ANAC) announces that partner GlaxoSmithKline (NYSE:GSK) has voluntarily paused enrollment for its clinical trials of its urinary tract infection treatment. The development of a “microbiological finding” was seen in a small number of patients.
Humana (NYSE:HUM) fourth quarter results missed Street expectations this morning, largely due to higher than anticipated acquisition costs. Earnings actually rose 86% year-over-year, as the health insurer benefited from membership growth and light use of health benefits. However, the company lowers its current quarter forecast below analysts’ expectations, now seeing $1.35 to $1.45 a share versus Street estimates of $1.81.
Earnings Report: Repligen Corp Third Quarter Earnings Sneak Peek.
Orexigen Therapeutics (NASDAQ:OREX) says it reached an agreement with the Food and Drug Administration. The design and planned analysis for a trial of its diet drug Contrave is in an effort to demonstrate that it does not increase the risk of major cardiovascular events.
Smith & Nephew (NYSE:SNN) is slapped with a $22 million fine. The Securities Exchange Commission hits SNN for allegedly violating the Foreign Corrupt Practices Act with bribes paid to Greek doctors to win business. The complaint filed in federal court says that the company kept a fund to make the payments.
Idenix Pharmaceuticals (NYSE:IDX) is rumored for a takeover. A flurry of activity has been seen on this account moving from negative to positive territory in just minutes.
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