Wall Street mainly applauded King Pharmaceuticals Inc.'s $1.6 billion cash takeover of Alpharma Inc. on Monday, saying it puts the combined company in a good position within the pain-treatment market.
King Pharmaceuticals Inc said on Monday it has agreed to acquire Alpharma Inc for about $1.6 billion, ending a fractious takeover tussle and expanding King's presence in the market for pain drugs.
Shares of Alpharma Inc. jumped Friday, bucking a declining market, as the prospects for approval of its tamperproof morphine drug brightened following a positive Food and Drug Administration panel for a potential rival.
Government health advisers said Friday an experimental morphine pill from Alpharma could discourage some patients from abusing the powerful narcotic but provides only a small advantage over existing drugs.
NEW YORK (AP) - Wall Street mainly applauded King Pharmaceuticals Inc.'s $1.6 billion cash takeover of Alpharma Inc. on Monday, saying it puts the combined company in a good position within the pain-treatment market.
SAN MATEO, Calif., Nov. 25, 2008 (GLOBE NEWSWIRE) -- Pain Therapeutics, Inc. (Nasdaq:PTIE) today announced that Remi Barbier, the Company's chairman, president and chief executive officer, will participate in the 20th Annual Piper Jaffray Health Care Conference in New York on Wednesday, December 3rd at 10:00 a.m. Eastern Time.
NEW YORK (AP) - Alpharma Inc. has finally agreed to King Pharmaceuticals Inc.'s $1.6 billion cash takeover offer, ending the drugmakers' months-long battle.
King Pharmaceuticals Inc said on Monday it has agreed to acquire Alpharma Inc for about $1.6 billion, ending a fractious takeover tussle and expanding King's presence in the market for pain drugs.
Abbott Labs (ABT) is a consistent performer with diversified healthcare operations, including pharmaceuticals, diagnostics, medical nutrition products, and medical devices/stents. ABT is back to the lower end of its trading range near 50 bucks, presenting an excellent entry point with a 2.8% dividend yield and forward PE of about 14X.
Celgene (CELG) is also trading at the low end of its trading range around 50 bucks as a large-cap growth stock focused on cancer biotech products and research with an estimated PEG ratio below one.
The accompanying table (click to enlarge) presents an updated calendar of 30 decision dates which either have deadlines before year-end or represent delays in previously expected decisions in which the FDA has not issued a new date for a final decision.
The accompanying table (click to enlarge) presents 70 FDA product approval decision dates along with the market caps and one year stock price change for the underlying companies. A note of caution for investors and traders is that the most common outcome from the FDA in the past year has been a delay in decisions due to understaffed conditions at the agency. However, several companies have pending decisions which are likely to occur either before year-end or early next year and will have a major impact on their stock prices.
The accompanying table (click to enlarge) presents a calendar of expected FDA regulatory approval decisions for 2009, including a March 1st deadline to expand the label of cancer drug Erbitux in what has now become a hostile takeover attempt by Bristol-Myers (BMY) for the remaining 83% stake in ImClone Systems (IMCL) it does not already own.
Two other companies which are highly leveraged to their upcoming FDA decision include Pain Therapeutics (PTIE) and King Pharma (KG) for Remoxy, which are due to hear back from the agency this year thanks...
Lehman Brothers (LEH) – Caught at the very center of this Jupiter’s storm in volatility is, of course, Lehman Brothers, whose fight for survival has incited so much of the sector’s turbulence in recent sessions. Shares have taken back some early losses after struggling to remain above the $4 level on speculation of a possible buyout by Goldman Sachs, but the 32.4% decline to $4.91 is scarcely heartening news. Implied volatility shot higher again today, up 32% to 342.4%, handily surpassing the previous highs set on Tuesday. Front-month options currently suggest a more than $3...
Pain Therapeutics (PTIE) is focused on the development of improved treatment options for pain management, as well as earlier stage research programs for metastatic melanoma and hemophilia. The Company's lead pain drug candidates are designed to produce safer, abuse-resistant forms of opiate analgesics, which represents a $5.8 billion annual market in the United States alone based on 2006 IMS Health data.
Remoxy is the Company's lead drug candidate with pending Phase 3 results due before year-end. Remoxy is an abuse-deterrent form of twice-daily, controlled-release oxycodone (OxyContin is the well known brand name version) which is resistant to...
CuraGen (CRGN) sold its majority-owned 454 Life Sciences division to Roche (RHHBY) for $155 million. Roche Diagnostics has been the worldwide distributor of the Genome Sequencer systems produced by 454. Of the $155 purchase price, $140 million will be paid in cash, and another $14.9 million will come from the exercise of stock options.
Roche will put $25 million into escrow for 15 months. CuraGen will receive $85 million before fees and expenses, and $14 million of that will be held in escrow. Investors were not pleased with the terms; they sold the stock down...
Eisai, the large Japanese Pharma, will acquire privately held Morphotek of Philadelphia for $325 million over its net cash level. Formed in 2000, Morphotek humanizes monoclonal antibodies.
It has two drugs in early stage trials, one for ovarian cancer and another for pancreatic cancer, plus several molecules in pre-clinical tests. In October 2006, Eisai beefed up its cancer portfolio by buying four oncology drugs from Ligand (LGND).
Adams Respiratory (ARXT) settled a patent dispute with Mutual Pharma over guaifenesin extended-release tablets. Mutual acknowledged the validity of Adams? patent, which runs until 2020, and Adams granted...
Miriam Metzinger submits: Stocks discussed in the lightning round session of Jim Cramer?s Mad Money TV program, Tuesday February 27. Click on a stock ticker for more analysis:
Datamonitor´s Pain Therapeutics, Inc. - SWOT Analysis company profile is the essential source for top-level company data and information. The report examines the company´s key business structure ...
SAN MATEO, Calif., Nov. 25, 2008 (GLOBE NEWSWIRE) -- Pain Therapeutics, Inc. (Nasdaq:PTIE) today announced that Remi Barbier, the Company's chairman, president and chief executive officer, will ...
CHICAGO--(BUSINESS WIRE)--Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and ...
Pain Therapeutics/King Pharmaceuticals' novel oxycodone controlled-release formulation, Remoxy XRT, appears to be less susceptible to abuse and misuse than Purdue Pharma's Oxycontin, a majority of ...
CHICAGO--(BUSINESS WIRE)--Zacks Equity Research highlights SINA Corporation (Nasdaq: SINA) as the Bull of the Day and Pain Therapeutics, Inc. (Nasdaq: PTIE) as the Bear of the Day. In addition ...
(PTIE) - Pain Therapeutics, Inc. is focused on the development of novel treatments for the management of pain and other therapeutic indications. Lead pipeline candidate, Remoxy, an abuse-deterrent ...
Pain Therapeutics, Inc. Company Profile is the essential source for top-level company data and information. The report examines the company?s key business structure and operations, history and ...
Nov 15, 2008 (Zacks Investment Research via COMTEX) -- PTIE | Quote | Chart | News | PowerRating -- Pain Therapeutics Inc. (PTIE) is focused on the development of novel treatments for the ...
Pain Therapeutics was initially focused on building a franchise of pain management products through partnering with the scientific and medical community. In 2006, Pain Therapeutics changed its ...
At least 10 experts on an FDA panel concluded that Remoxy seems less prone to abuse than other painkillers, but eight advisers said Pain Therapeutics and King Pharmaceuticals failed to adequately ...
Drug stocks edge higher while shares of Alpharma Inc. soar on news that King Pharmaceuticals has offered $1.4 billion in cash for the specialty drugmaker.
NEW YORK (MarketWatch) -- King Pharmaceuticals Inc. and Pain Therapeutics, Inc. announced results Tuesday from its Phase III study of Remoxy, an investigational drug to treat chronic pain, which they said was shown to provide effective around-the-clock analgesia within a patented formulation designed to resist common methods of misuse and abuse. The companies also presented results of a previously unpublished study which they said showed the formulation resists dissolution in alcohol, thus preventing the quick, powerful euphoric high that is sought by drug abusers.
NEW YORK (MarketWatch) -- Pain Therapeutics Inc. and King
Pharmaceuticals Inc. said Tuesday that the U.S. Food and Drug Administration granted priority review to its new drug application for Remoxy pain medication. The FDA is expected to complete its review within six months of the application's submission, which in this case is June 10. The drugmakers described Remoxy as "abuse-resistant, controlled-release oxycodone for moderate-to-severe chronic pain."
BOSTON (MarketWatch) -- King Pharmaceuticals and partner Pain Therapeutics said Tuesday that they have filed for U.S. market approval of their new pain medication Remoxy. The product is a tamper-resistant version of the powerful painkiller oxycondone, also known by the brand name OxyContin. Oxycondone, which can be highly addictive if abused, is used to treat severe chronic pain. The companies said they expect to hear whether the Food and Drug Adminstration has formally accepted their application within 90 days.
Pain Therapeutics Inc. and King Pharmaceuticals reported positive results of a Phase III study of investigational drug Remoxy in patients with chronic pain. The study met the primary endpoint of a mean decrease in pain intensity that was defined by the Food and Drug Administration during the special protocol assessment process, the companies said Thursday. More than 400 patients with osteoarthritis participated in this study. Pain Therapeutics expects to file a new drug application in the second quarter of 2008. Remoxy is an abuse-deterrent version of long-acting oxycodone, a powerful painkiller available only by prescription.
BOSTON (MarketWatch) -- Biotech and pharmaceutical issues were mixed in trading Thursday as shares of Pain Therapeutics lost ground after an analyst downgrade.
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