Top News in Healthcare: PropThink
(Thomson Reuters ONE) -
The U.S. Food & Drug Administration (FDA) approved Vivus' (NASDAQ:VVUS)
investigational obesity drug, Qsymia (formally known as Qnexa, and renamed to
avoid confusion with other therapeutics), after delaying an earlier review by 3
months. Analysts believe takeover speculation could drive shares of the Mountain
View, CA-based company higher, notwithstanding competition from Arena
Pharmaceuticals (NASDAQ:ARNA) or Orexigen (NASDAQ:OREX). See Why Vivus Will
Advance on Buyout Trade and Arena Will Not.
AMAG Phamaceuticals (NASDAQ:AMAG) is trading higher on Positive IDA Trial
Results in anemia. See Why Feraheme Will Now Address Much Larger Anemia Market.
FDA review of Novo Nordisk's (NYSE:NVO) basal insulin degludec has been
postponed yet again, pushed back to November of this year after being delayed in
June. The FDA panel is seeking outside experts to review the long-lasting
insulin which may challenge Sanofi's (NYSE:SNY) similar product Lantus.
Among second quarter earnings releases this morning, St. Jude (NYSE:STJ) lowered
sales guidance on its Cardiac Rhythm Management Segment, which represents half
of the company's revenues. STJ has been dealing with a Class I recall of its
Riata defibrillator lead which has significantly affected sales and may bode
well for competitors in the segment, including Medtronic (NYSE:MDT). More on
this story here.
Trading in Galena (NASDAQ:GALE) shares may be overdone after the company
announced that a patent was issued on its lead product candidate, NeuVax.
StemCells (NASDAQ:STEM) saw a similar reaction from investors, yesterday, when
the company revealed encouraging data from a pre-clinical study. Shares of
StemCells were sharply lower this morning.
Infinion(TM) Data Could Buoy Boston Scientific's Declining SCS Share - the
device giant said two studies of its Infinion(TM) 16 Percutaneous Lead
effectively relieved pain in patients suffering from chronic pain. Data showed
statistical significance (p<0.0001) in pain intensity and pain relief,
respectively.
Sunshine Heart (NASDAQ:SSH) traded lower yesterday on a S-1 filing, though
shares could be buoyed by new data that has surfaced in the prospectus: 12-month
data shows superior safety, efficacy in treating heart failure with the
company's investigation device. The company will vie for IDE approval in the
U.S.; expects to obtain CE-mark in Europe in 2012. According to a recent story
published by Reuters, "analysts say [Sunshine Heart] could provide a new
treatment option for millions of heart failure patients".
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