Bargain hunters should focus on biotechs since momentum is clearly on their side. On Wednesday, stocks closed higher, led by the small- and mid-cap sectors. The Nasdaq led all other indices, up 1%, while the S&P 500 rose 0.7% with 7 of 10 sectors advancing, and the Dow industrials gained 0.6%. Retail sales for July…
Extending its association with Carmel, IN-based software solutions provider – Clinical Architecture, Allscripts Healthcare Solutions, Inc. (MDRX) contracted to integrate the former’s comprehensive terminology management system, Symedical, with its dbMotion interoperability platform to streamline vocabulary mapping. By incorporating Symedical, Allscripts intends to provide its clients with efficient and enhanced mapping tools and improved vocabulary distribution….
Jazz Pharmaceuticals (JAZZ) shares climbed 6.97% after the company announced that it has entered into an agreement to acquire the rights to defibrotide from Sigma-Tau Pharmaceuticals, Inc. The deal is expected to close in the third quarter of 2014. Sigma-Tau held the rights to defibrotide on the basis of an agreement with Gentium, which was…
Vertex Pharmaceuticals’ (VRTX) cystic fibrosis (CF) drug, Kalydeco (ivacaftor) won a positive opinion from the European Committee for Medicinal Products for Human Use (CHMP) for use in CF patients (6 years of age and above) with one of eight non-G551D gating mutations in the cystic fibrosis trans membrane conductance regulator (CFTR) gene. Kalydeco is already…
Bayer’s (BAYRY) has progressed well with its newly launched products in the last few quarters. Drugs like Eylea (Eye), Stivarga (oncology), Xarelto (anticoagulant), Xofigo (oncology) and Adempas (pulmonary hypertension) posted sales of €598 million in the first quarter and are expected to contribute around €2.8 billion in 2014. The company is looking to get these…
PRevious Few Days have been very eventful for the Biotech Stocks. Last week, earnings remained in focus with several companies reporting their second quarter results. While Amgen’s (AMGN) results remained impressive, Vertex (VRTX) posted a wider loss. Meanwhile, Regeneron (REGN) missed earnings expectations by a pretty wide margin though Eylea sales continued to impress. Among…
