Healthcare Business Roundup: Aetna Earnings, Novartis FDA Approval
Dendreon Corporation (NASDAQ:DNDN) names board member John Johnson as its president and Chief Executive Officer, beginning June 30. He will be replacing Mitchell Gold who has held the position for over a decade.
Impax Laboratories Inc. (NASDAQ:IPXL) announces that it has licensed the United States commercialization rights for Zomig from AstaZeneca Plc. (NYSE:AZN). The deal will be immediately accretive to earnings per share in 2012. Gross margins are at 60% as a percentage of total revenue for the year.
Investing Insights: Boston Scientific and CareFusion Trading Actively Higher Before Earnings.
Novartis AG’s (NYSE:NVS) cancer drug Gleevac has been approved by the Food and Drug Administration for use by adult patients who have had a type of stomach tumor surgically removed.
Aetna Inc.’s (NYSE:AET) fourth quarter membership and margins rose, as earnings were in-line with analyst expectations. Higher-than-expected taxes and operating costs bogged down otherwise strong results, Goldman Sachs Group Inc. (NYSE:GS) says. AET spent 80.7% of its premium revenue on medical claims, versus 83% spent a year ago.
Thermo Fisher Scientific Inc. (NYSE:TMO) gains after its fourth quarter beat estimates on better-than-expected revenue and improved gross margins. The company’s laboratory products and services segment saw a 5% revenue increase, while its analytical technologies segment’s and specialty diagnostics segments also gained market share.
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