Healthcare Biz Review: Chelsea RIDES Northera, Pfizer Faces DUBIOUS Suit
Chelsea Therapeutics (NASDAQ:CHTP) shares ride a Seeking Alpha article from Friday morning which predicted that the drug developer could see “Arena-like” gains off Northera. Earlier, the stock hit the FDA Third Rail, as the agency recommended further trials for the drug and that move built up a large short interest over a short period. According to the article, investors are ignoring the millions of dollars put into research and development on the drug, but once it sets in that it’s undervalued, shares should behave as they did Friday.
Pfizer (NYSE:PFE) is up against what might be a money grabbing lawsuit brought by grocery chains and drugstores Kroger (NYSE:KR), Walgreen (NYSE:WAG), Safeway (NYSE:SWY), and others, that alleges Pfizer
conspired with India’s Ranbaxy Laboratories to deliberately delay sales of generic versions of Lipitor.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.