Healthcare Biz Recap: Pfizer CASHES IN, Pharmacyclics POPS Again
Horizant, made by XenoPort (XNP) and GlaxoSmithKline (NYSE:GSK), gets FDA approval for the treatment of post-herpetic neuralgia, or nerve pain related to shingles, which affects around 100,000 people a year domestically. As a part of the arrangement, GSK will pay XenoPort a $10 million milestone payment subsequent the first sales of the treatment.
Investing Insights: Lululemon Earnings: Double-Digit Growth Just Not Enough for Shareholders.
In an initial public offering, Pfizer (NYSE:PFE) will sell a minority stake in its animal health business, which will be renamed Zoetis. The firm will supply additional details in its second quarter profit update.
Shares of Orthofix (NASDAQ:OFIX) don’t react, as it says it will pay $34 million to resolve a Justice Department inquiry into the promotion and marketing of its bone growth devices. In addition, the firm intends to plead guilty to obstructing a federal audit and thus will also pay fine of $7.8 million.
Pharmacyclics (NASDAQ:PCYC) shares re-pop on Thursday, as the FDA okays orphan status of its treatment for chronic lymphocyctic leukemia. Brean Murray and other analysts forecast ‘blockbuster’ sales for the cancer med; the former started the shares with a Buy earlier Thursday, following release of the news.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.
Don’t Miss: 3 Reasons to HATE Facebook at This Valuation.