Healthcare Sector Review: Pfizer and Biocon Break Up, Cornerstone

Santarus, Inc. (NASDAQ:SNTS): 11:00 EDT Santarus awarded $13.6M Veterans Administration contract.

The shares closed at $5.37, up $0.44, or 8.92%, on the day. Its market capitalization is $328.86 million.

Cornerstone Therapeutics (NASDAQ:CRTX): Cornerstone Therapeutics announced that the U.S. Food and Drug Administration accepted a New Drug Application, or NDA, for CRTX 080, Cornerstone’s product candidate for the treatment of hyponatremia. The FDA has assigned a Prescription Drug User Fee Act, or PDUFA, goal date of October 29, 2012.

The shares closed at $6.17, up $0.5, or 8.82%, on the day. Its market capitalization is $160.55 million.

Pfizer Inc. (NYSE:PFE): Biocon and Pfizer announced the conclusion of their alliance to commercialize Biocon’s biosimilar versions of Insulin and Insulin analog products. The companies have agreed that due to the individual priorities for their respective biosimilars businesses, it is in their best interest to move forward independently.

The shares closed at $22.01, up $0.47, or 2.18%, on the day. Its market capitalization is $165.92 billion.

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To contact the reporter on this story: Stella Mariz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com