Healthcare Business Review: Illumina’s Conflicted Advice, Teva’s Rising Profit
Based on bad advice from Goldman Sachs, Illumina (NASDAQ:ILMN) shareholders file a class action suit against the company. The suits alleges that directors adopted a poison pill strategy to fight a takeover by Roche (RHHBY). Despite Goldman’s financial conflict of interest, Illumina had “inexplicably chosen to receive” the advice.
Last year’s acquisition of Cephalon by Teva (NASDAQ:TEVA) helps raise net profit 23% to $1.14B, and revenues to $2.3B, an increase of 68%. Copaxone, which faces competition from newer treatments, sales were up 11% to $927M.
Investing Insights: Athenahealth Inc. Earnings: Snaps Strong Streak with Profit Drop.
An announcement by Merck (NYSE:MRK) reveals that the company will team up with Brazil’s Supera Farma Laboratorios, to market, distribute, and sell generic products in that country. 51% of the JV will be controlled by Merck, and that will include a diverse portfolio of around 30 products. Merch shares were up 0.4% premarket.
WellCare Health Plans‘s (NYSE:WCG) Q4 net profits tripled according to a Wednesday report, and its shares were up 10.9%. The growth was reinforced by a gain in repurchasing notes, as the company’s membership and premium revenue continued to grow as well. Also, WCG’s forecast for 2012 was upbeat, and shares are expected around $4.40 to $4.60, above a consensus of $4.21.
Apricus Biosciences (NASDAQ:APRI) announced that its NexMed subsidiary has signed a collaboration agreement with a division of Novartis (NYSE:NVS) market Viatrose in Germany. APRI shares were up 4.4%.
Earnings Report: MetLife Inc. Earnings: Powering Ahead.
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