Healthcare Business Roundup: Zimmer Initiates Dividend and Announces Stock Buyback, Alexza Issues Layoff Notices
Trius Therapeutics (NASDAQ:TSRX) today announced positive results from its first Phase 3 trial for its tedizolid treatment for acute bacterial skin and skin structure infections.
Zimmer Holdings (NYSE:ZMH) initiates a dividend of $0.18/share and announces a $1.5 billion stock buyback.
Alexza Pharmaceuticals (NASDAQ:ALXA) said late Friday it has retained Lazard to help it explore strategic options, as the drug company hands all of its employee’s 60-day layoff notices to conserve cash. The stock is down 47% year-to-date.
PDL BioPharma (NASDAQ:PDLI) shares were down today after issuing downward guidance for its Q4 and FY2012 revenue, citing reduced royalties from the sale of two drugs. PDL obtains most of its revenue from development and licensing of antibodies. Generally it has seen its bottom line improve in recent quarters amid lower expenses.
Raptor Pharmaceuticals (NASDAQ:RPTP) gains slightly after the firm announces that it signed a R&D agreement with the National Institutes of Diabetes and Digestive and Kidney Diseases to conduct a Phase 2b clinical trial in Q1 on the efficacy of its RP104 tablet.