Mylan Receives FDA Approval and 4 Stocks Rising to 52-Week Highs
Lennox International (NYSE:LII): Lennox International has announced plans to divest their Service Experts business, which consists of dealer contractors that provide heating and cooling equipment installation and service, primarily to the residential market. The company will retain the commercial service business called Lennox National Account Services which was reported within their Service Experts business segment. Revenue for the Service Experts business segment was $529 million in 2011, $80 million of this, was from the NAS business. The company expects to report the non-NAS Service Experts business, in discontinued operations, beginning with the third quarter of 2012. NAS will be reported under the company’s Commercial Heating & Cooling business segment. Lennox will provide current and historical financial results that have been adjusted for discontinued operations, as well as the move of NAS to the commercial segment, when their third quarter earnings are released on October 22. Their shares closed at $50.58, they are up $1.61 or 3.29% on the day. They have traded $24.52 to $48.99 in a 52 week range.
Eli Lilly and Company (NYSE:LLY): Eli Lilly and Company, announced that they have received a positive response from the Committee for Medicinal Products for Human Use, or CHMP, in the European Union. They have recommended approval of Cialis 5 mg for daily use in the treatment of Benign Prostatic Hyperplasia. The recommendation has been referred to the European Commission, for a final decision that should come within one or two months. Cialis was approved for erectile dysfunction in the EU in 2002. Their shares closed at $47.46, up $0.44 or 0.94% on the day. They have traded $35.46 to $47.26 in a 52 week range.
Mylan Inc. (NASDAQ:MYL): Mylan Inc.,(NASDAQ:MYL) announced that their subsidiary Mylan Pharmaceuticals Inc., has received final approval from the United States Food and Drug Administration for their abbreviated new drug Application for Meclizine Hydrochloride Tablets USP, 12.5 mg, 25 mg and 50 mg. This product is the generic version of Pfizer’s (NYSE:PFE) Antivert, which is indicated for the management of nausea, vomiting, and dizziness associated with motion sickness. According to IMS Health, Antivert Tablets, 12.5 mg, 25 mg and 50 mg, had sales in the U.S of approximately $53.5 million for the 12 months ending on June 30. Mylan is shipping this product immediately. Their shares closed at $24.55, up $0.06 or 0.24% on the day. They have traded $15.49 to $24.64 in a 52 week range.
Novartis Ag (NYSE:NVS): Novartis Ag has announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use, or CHMP, has issued two positive opinions for the use of Galvus, or Vildagliptin, and Eucreas, or Vildagliptin and Metformin, in combination with other treatments for type 2 Diabetes patients. One positive assessment was for Vildagliptin in combination with insulin, with or without Metformin, for patients with type 2 diabetes when diet, exercise and a stable dose of insulin do not result in glycemic control. The second was for Vildagliptin, in triple combination with Metformin and a Sulphonylurea for the treatment of type 2 Diabetes when diet and exercise, plus dual therapy with these two agents, does not provide adequate glycemic control. Their shares closed at $61.26, they were up $0.69 or 1.14% on the day. Novartis has traded $51.20 to $60.65 in a 52 week range.
News Corp. (NASDAQ:NWSA): Two sources told Reuters that News Corp (NASDAQ:NWSA) will give James Murdoch more control over Fox Networks Group which is the company’s U.S. television operations. It is unclear what Murdoch’s exact title will be, but Fox Networks Chief Executive Officer, Peter Rice, is expected to remain in his role. Their shares closed at $24.96, they are down $0.06 or 0.24% on the day. News Corp. has traded $14.72 to $25.06 in a 52 week range .
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