Healthcare Business Review: Impax’s PROMISING Future, Regeneron’s RELATIONSHIP With Sanofi
Wright Medical Group (NASDAQ:WMGI) shares move down modestly, following the pricing of its $260 million offering of convertible senior notes that will come due in 2017. The firm will use around $130 million of the net proceeds to pay back its outstanding term loan under its senior credit facility.
Shares of Impax Laboratories, Inc. (NASDAQ:IPXL) wobble a bit on Canaccord’s early positive comments on Thursday morning. However, the analyst predicted that there are several positive triggers ahead that should push the stock higher, among which are the remediation of the warning letter from the FDA; the pending FDA decision on its Parkinson’s disease drug Rytary which is due October 21st; and a resolution concerning Adderall XR with Shire.
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) shares rise once again on Thursday on takeover rumors that involve Sanofi adventis (NYSE:SNY). A Regeneron spokesperson remarked that the two firms enjoy a reliable working relationship, which it would be advantageous for both to maintain, as for now a separate entities. At present, Sanofi is the largest shareholder in Regeneron, with a standstill agreement in place that prevents the former from gaining more than 30 percent of the latter.
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