CVS stays the course with 2020 outlook

Ahead of meetings with investors, CVS Health (NYSE:CVS) discloses that its previously issued (May 6) earnings and cash flow guidance for the year will remain unchanged.

EPS: $5.47 – 5.60.

Non-GAAP EPS: $7.04 – 7.17.

Cash flow ops: $10.5B – 11.0B.

All other guidance withdrawn on May 6 remains so.

https://seekingalpha.com/news/3581856-cvs-stays-course-2020-outlook

Qualigen closes license deal for AS1411 in COVID-19

Qualigen (NASDAQ:QLGN) inks an agreement with the University of Louisville (UofL) that will facilitate the development of candidate AS1411 to the potential treatment of COVID-19.

It has owned exclusive rights to AS1411 for all uses since 2018 but the new deal provides a license under UofL’s pending U.S. patent for its use in preventing or treating COVID-19.

AS1411 is a DNA aptamer (short single-stranded DNA that can selectively bind to a target).

https://seekingalpha.com/news/3581893-qualigen-closes-license-deal-for-as1411-in-covidminus-19

Johnson & Johnson accelerates start of COVID-19 vaccine trial

Johnson & Johnson (JNJ +1.0%) unit Janssen Pharmaceutical Companies has moved the start of its Phase 1/2a clinical trial evaluating Ad26.COV2-S, its SARS-CoV-2 vaccine candidate, up to the second half of July from September.

The study will test the candidate’s safety and immunogenicity in 1,045 healthy adult volunteers in the U.S. and Belgium.

It is in talks with the National Institutes of Allergy and Infectious Diseases (NIAID) to accelerate the start of a Phase 3 study pending the outcome of Phase 1s and regulatory sign-off.

https://seekingalpha.com/news/3581918-johnson-johnson-accelerates-start-of-covidminus-19-vaccine-trial

Rite Aid expands COVID-19 sample collection sites

Rite Aid (RAD +1.7%) announces 21 new drive-through locations effective tomorrow, June 11, through its partnership with the U.S. Department of Health and Human Services (HHS).

Locations now total 92 and have the capacity to collect almost 47K swab specimens for COVID-19 testing each week. OPKO’s BioReference Lab unit is performing the actual diagnostic work.

https://seekingalpha.com/news/3581922-rite-aid-expands-covidminus-19-sample-collection-sites

Adial Pharma nabs order for 1,000 COVID-19 blood tests

Thinly traded nano cap Adial Pharmaceuticals (ADIL +14.1%) is up on more than a 7x surge in volume in reaction to its announcement that it has received a “firm order” for 1,000 Rapid Result COVID-19 antibody test kits.

The buyer plans to use the assays in the Phoenix, AZ area.

Adial owns exclusive distribution rights to the 10-minute test under an agreement with BioLab Sciences.

The company says the test detects IgG antibodies with 98.6% accuracy and IgM antibodies with 92.9% accuracy but does not specify whether this represents sensitivity only or includes specificity.

https://seekingalpha.com/news/3581935-adial-pharma-nabs-order-for-1000-covidminus-19-blood-tests

OrthoPediatrics launches spine deformity device in U.S.

OrthoPediatrics (KIDS +0.6%) announces the U.S. commercial launch of the ApiFix Minimally Invasive Deformity Correction system for the treatment of progressive adolescent idiopathic (cause unknown) scoliosis (curvature of the spine).

The company secured the rights to the device via its acquisition of ApiFix in April.

https://seekingalpha.com/news/3581956-orthopediatrics-launches-spine-deformity-device-in-u-s

States go after generic drugmakers for alleged price-fixing

A coalition of 51 attorneys general in the U.S. has filed an antitrust complaint in federal court against 26 companies making generic dermatology drugs and 10 executives at these firms claiming wide-spread price-fixing, marketing allocating and bid-rigging related to over 80 different products.

Companies named in the complaint include Novartis (NVS -0.1%) unit Sandoz, Teva Pharmaceutical Industries (TEVA -3.8%), Pfizer’s (PFE -0.6%) Upjohn unit, Mylan (MYL -3.4%), Perrigo (PRGO -2.9%) and Taro Pharmaceutical Industries (TARO -1.7%).

Related tickers: Aclaris Therapeutics (ACRS -4.4%), Akorn (AKRX), Amphastar Pharmaceuticals (AMPH -2.2%), Amneal Pharmaceuticals (AMRX -8.0%), Bausch Health Companies (BHC -3.1%), Coherus Biosciences (CHRS -2.6%), Collegium Pharmaceutical (COLL -1.4%), Eagle Pharmaceuticals (EGRX -1.2%), Endo International (ENDP -5.1%), Lannett Company (LCI -4.4%), Mallinckrodt (MNK -5.0%), Dr. Reddy’s Laboratories (RDY -0.8%)

https://seekingalpha.com/news/3581977-states-go-after-generic-drugmakers-for-alleged-price-fixing