pSivida Gets FDA Clearance, Pozen gets Upgrade: Healthcare Business Update
pSivida Corp. (NASDAQ:PSDV) reports that it received FDA clearance to go forward on two pivotal Phase III clinical trials of its lead development product, which is an injectable micro-insert for posterior uveitis. The trials will commence in 2013, and will create the basis for a future NDA submission.
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Shares of Medicis Pharmaceutical Corporation (NYSE:MRX) dip Friday slides after saying in a Securities and Exchange Commission filing that it had been sued by the dermatological product maker Q-Med, whose products are sold by the former, claiming that it has the right to block the pending merger of Medicis with Valeant Pharmaceuticals International (NYSE:VRX). Valeant has agreed to acquire Medicis at $44 per share in September.
Pozen (NASDAQ:POZN) shares are upgraded to Strong Buy at Ascendiant Capital, as the analyst believes that the recent pullback in price subsequent to its third quarter earnings miss on Thursday has made a buying opportunity. The shares popped on the day in response.
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