Healthcare Biz Review: Avon WANTS Obagi, Zalicus’ BUSY Plans
Avon Products, Inc. (NYSE:AVP) is in serious discussions regarding the possible purchase of Obagi Medical Products, Inc. (NASDAQ:OMPI), but it has yet to put in a sufficient bid, according to SA author Scott Matusow. L’Oreal Co Adr (LRLCY.PK) is also a possible suitor. However, Matusow calculates that since institutions own approximately 90 percent of Obagi, and with “the majority of them” wanting it sold, a near-term deal is practically inevitable.
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Zalicus Inc. (NASDAQ:ZLCS)’s second quarter report indicates that the firm has again extended its partnership with Novartis AG (NYSE:NVS), “validating the value” of Zalicus’ cHTS tech for the development of cancer treatments. The firm is also set to begin Phase 2a trials of Z160, which is a medication for neuropathic pain, and also to report results of a Phase IIb trial for Synavive, which is used for the treatment of rheumatoid arthritis.
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