Healthcare Business Recap: Illumina Gives the Finger to Roche, Amgen’s Good News
In an offer that acquisition target Illumina (NASDAQ:ILMN) calls “grossly inadequate”, Roche (RHHBY.PK) reiterates its tender offer of $44.50 and extends the time frame to April 20th.
Don’t Miss: Roche Just Can’t Take the Hint on Illumina Bid.
Good news for Amgen (NASDAQ:AMGN) as it attempts to move into the potentially big money battle between Lipitor and generics: the company gets positive analytical results for AMG 145, its cholesterol-fighting human monoclonal antibody. Phase II study results are scheduled for later in 2012 for the med, which is said to reduce so-called bad cholesterol by up to 81 percent, according to data.
A United States court rejects AstraZeneca’s (NYSE:AZN) lawsuit against the FDA to extend its patent on Seroquel, which is a widely prescribed drug that treats bipolar disorder. The rejected suit was for protection of AZN’s patents from U.S. generic competitors through December. With the suit’s failure comes Teva Pharmaceuticals’ (NASDAQ:TEVA) introduction of its generic version of Seroquel, on the first day of the patent’s expiration.
Investing Insights: Walgreen Company Second Quarter Earnings Sneak Peek.
FDA approval will be sought for Johnson & Johnson’s (NYSE:JNJ) lung clot prevention drug Xarelto treatment, during the company’s second quarter of 2012. Results from a large scale phase III study showed Xarelto as effective as standard treatments and safer than many, including Warfarin, in countering the clots, which affect 600,000 Americans a year and kill as many as 100 thousand.
A whistle-blower suit against WellCare Health Plans (NYSE:WCG) has been resolved by a $137.5 million deal that has now become effective. Inquiries by the U.S. Justice Department and the states of Florida and Connecticut are involved, though WCG asserts that neither the case nor the payout will materially affect the company’s financial figures for 2012.
To contact the reporter on this story: Mark Lawson at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org