Healthcare Business Review: Alexza Wins EU CERTIFICATE, Covidien RECALLS Duet TRS
These were yesterday’s top stories:
Health Care REIT, Inc. (NYSE:HCN) acquires Sunrise Senior Living, Inc. (NYSE:SRZ) at $14.50 per share, representing a 62 percent bonus over Monday’s close. The deal should be complete in the first half of next year.
Shares of Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) spikes early following the firm’s receiving a compliance certificate for its Adasuve manufacturing facility from the European Commission. Adasuve is a schizophrenic and bipolar disorder madication, and is Alexza’s sole product candidate.
Covidien plc (NYSE:COV) has voluntarily recalled its Duet TRS tissue reinforcement system, and has also ceased its manufacture. The company has received a report that connects the reinforcement material to injury following abdominal surgery. This recall follows another one in January, subsequent to reports of 13 serious injuries and three deaths after the application of Duet TRS in the chest area.
Shares of Trancept Pharmaceuticals, Inc. (NASDAQ:TSPT) pop on word that the FDA’s listed its insomnia treatment Intermezzo in its Orange Book. The patent expires in 2029, which gives the company a large amount of time to block generic competitors, while the market for sleep aids is gigantic, with 79 million domestic prescriptions filled annually. It’s calculated that each 1 percent share of the market equates to approximately $150 million in Intermezzo sales.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.