Healthcare Business Review: Ironwood Pharmaceuticals Offering, Cali Medicaid Issue
Impax Laboratories (NASDAQ:IPXL) provides an update on a warning letter it received about its Hayward facility. Until the re-inspection of the facility passes, pending drug applications listing the Hayward location as a manufacturing site may be withheld by the FDA.
Barclays (NYSE:BCS) and RBS (NYSE:RBS) control around 70% of Spain’s third-largest hospital operator. United Kingdom private equity Doughty Hanson has agreed to buy USP for 355 million euros ($477 million) from the creditors.
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Cumberland Pharmaceuticals (NASDAQ:CPIX) says a new formulation of Acetadote, its drug injected to treat acetaminophen poisoning, received a notice of allowance from the United States patent office. The new formulation does not contain ethylene diamine tetracetic acid, in keeping with a Food and Drug Administration request. It also has a longer shelf life of 30 months.
Ironwood Pharmaceuticals (NASDAQ:IRWD) is offering 5.3 million class A shares to help strengthen its balance sheet, and went down on news that the Food and Drug Administration will not schedule an advisory committee meeting in connection with its review of IRWD’s application for a new gastrointestinal drug.
Health Net (NYSE:HNT), Molina Healthcare (NYSE:MOH) and WellPoint (NYSE:WLP) might go to the bank if a proposal to move California Medicaid recipients into managed care programs goes through. Barclays analyst Joshua Raskin writes, that if the proposal goes through the companies will be seeing $32 billion of incremental managed care revenues by 2015, versus $14 billion previously estimated.
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