Centene (NYSE:CNC) has increased its stake in València, Spain-based Ribera Salud Group to 90% (from 50%) via a transaction with partner Banco Sabadell.
Wednesday, July 3, 2019
Nu Skin -6% after USANA warning
Nu Skin (NUS -5.7%) falls sharply after traders latch on to the weak guidance posted by USANA Health Sciences yesterday after the market closed.
Jefferies warns that the comments from USANA management on China don’t bode well for Nu Skin.
Shares of Nu Skin are only about a dollar away from the 52-week low of $44.36.
Shire prevails in Mydayis patent challenge
Takeda’s (TAK +0.2%) Shire plc is the winner of a challenge to two patents protecting long-acting ADHD med Mydayis by a would-be generic competitor. The USPTO’s Patent Trial and Appeal Board ruled that KVK-Tech failed to prove that the patents, covering the method of releasing the drug, are invalid.
Allergan sues Ajanta over generic of high blood pressure drug
Allergan (NYSE:AGN) alleges that a proposed generic version of a treatment for high blood pressure from Ajanta infringes on its patent for Bystolic, Bloomberg reports, citing the complaint filed in federal court in Wilmington, DE.
The company is seeking a court order to halt copies until the patent expires and to collect payment if copies are made before the patent expiration.
Patent expires in December 2021.
Allergan’s U.S. sales of Bystolic were $128.3M during the first three months of 2019, down 3.4% from the same period a year earlier.
Karyopharm prices Xpovio at $22K per month
During its conference call this afternoon, Karyopharm Therapeutics (KPTI+37.3%) stated that the wholesale (WAC) price of XPOVIO (selinexor) will be $22K per month.
The multiple myeloma med will be distributed through specialty pharmacies, including units of AmerisourceBergen and McKesson.
The company’s marketing application in Europe is currently under EMA review. Management expects conditional approval by year-end.
Applications in diffuse large B-cell lymphoma are next up.
Karyopharm XPOVIO gets FDA approval
Shares of Karyopharm Therapeutics Inc. KPTI, +36.03% soared 36% in very active trade Wednesday, enough to pace the Nasdaq exchange’s gainers, prior to a trading hold for news. The drug maker focused on cancer treatments disclosed after the close that the U.S. Food and Drug Administration has approved oral XPOVIO in combination with dexamethasone for the treatment of relapsed or refactory multiple myeloma in adult patients. Karyopharm expects XPOVIO to become commercially available in the U.S. on or before July 10, 2019. “With today’s accelerated approval of XPOVIO by the FDA, patients with heavily pretreated multiple myeloma will now have a new therapeutic option to treat their disease,” said Chief Scientific Officer Sharon Shacham. The stock can resume trading at 1:35 p.m. Eastern. The stock has still shed 5.1% year to date, while the S&P 500 SPX, +0.77% has gained 19.5%.
Fresenius Medical Care Expands Frenova Clinical Research Activities
Fresenius Medical Care AG & Co. KGaA (FME.XE) said Wednesday that it is expanding its clinical-research activities.
The German health-care company said that Frenova Renal Research–a division offering clinical services in the field of kidney research–will be integrated into Fresenius Medical Care’s newly created global medical office and will expand its presence worldwide. Frenova’s activities were previously limited to North America, the company said.
Frenova Renal Research was formerly a subsidiary of Fresenius Medical Care North America.
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