Healthcare Business Rewind: Johnson & Johnson’s FDA WARNING, Response Genetics’ DEAL
Johnson & Johnson’s (NYSE:JNJ) Bengay is among a few over-the-counter pain relievers that are subject to an FDA warning, which says that some consumers have reported receiving serious skin injuries during their use. It appears that then when applied to the skin to relieve mild muscle and joint pain, there have been some 43 reported cases of burns linked to the active ingredients menthol, methyl salicylate and capsaicin. A Thursday FDA press release indicated that the the injuries have ranged from mild to severe chemical burns; Sanofi’s (NYSE:SNY) Icy Hot is another product in the group.
Shares of Response Genetics, Inc. (NASDAQ:RGDX) pop on the news that the firm has reached a purchase agreement with GlaxoSmithKline (NYSE:GSK) through which one of its top existing stockholders will raise $8.8 million from the private placement of 8 million newly issued shares at $1.10 each.
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