Healthcare Review: Watson Pharmaceuticals, Pozen, Discovery Laboratories & Amarin Jump
August 24th, 2012 // 11:40 pm @ marquee
U.S. stocks rose Friday, after a report that the European Central Bank is considering a new bond-buying program and Federal Reserve Chairman Ben Bernanke said the U.S. central bank had more tools, if needed, to stimulate the economy. Several healthcare stocks are making notable news at mid day on Friday:
Watson Pharmaceuticals, Inc. (NYSE:WPI) stock climbed 4.12% to $81.87 after the company announced that its subsidiary, Watson Laboratories, Inc., has received final approval from the United States Food and Drug Administration (FDA) on its Abbreviated New Drug Application (ANDA) for lidocaine topical patch 5%, the generic equivalent to Endo’s Lidoderm.
POZEN Inc. (NASDAQ:POZN) stock jumped 7.22% to $6.76 after the company announced the results of the company’s Type A meeting with the U.S. Food and Drug Administration or FDA regarding issues related to Pozen’s planned New Drug Application or NDA for PA32540 and PA8140 (high and lower dose versions of 325 mg aspirin delayed-release and 40 mg omeprazole immediate-release, and 81 mg aspirin delayed-release and 40 mg omeprazole immediate-release, respectively) for the secondary prevention of cardio – and cerebrovascular events and to reduce the risk of gastric ulcers in patients at risk of aspirin induced gastric ulcers.
Discovery Laboratories, Inc. (NASDAQ:DSCO) shares climbed 8.36% to $2.76 in the early hour after Analysts at Stifel Nicolaus initiated coverage on shares of Discovery Laboratori (NASDAQ: DSCO) in a research report issued to clients and investors today and the firm set a “buy” rating and a $5.00 price target on the stock.
Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) shares gained 8.21% to $8.03 after Stifel Nicolaus started coverage on shares of Threshold Pharma (NASDAQ: THLD) in a research report released today. The firm issued a buy rating and a $13.00 price target on the stock.
Amarin Corporation plc (ADR) (NASDAQ:AMRN) stock increased 7.04% to $13.08. MKM Partners reissued their buy rating on shares of Amarin in a research report released on August 20. A number of other analysts have also recently weighed in on AMRN. Analysts at Jefferies Group reiterated a buy rating on shares of Amarin Co. plc. According to contacts, the publication dealReporter said Amarin’s Vascepta is likely to receive NCE status exclusivity. The report notes that potential buyers of Amarin are on the sidelines awaiting clarity on the situation.
Medgenics Inc (AMEX:MDGN) shares rose over 15% after analysts pointed to the opportunity for the company to gain enormously from recent failures by other companies attempting to solve the hepatitis C puzzle. The firm’s INFRADURE Biopump, with an FDA Orphan Drug designation for hepatitis D is expected to accelerate approval for hepatitis C trials in the US. Previously announced catalysts involving the firm’s technology are expected to play out in the short- term.
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