Elan Passes Demerger with Aesculap, Cerner Okays Buyback: Health Care Business Update

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Elan Corporation (NYSE:ELN) reports that, at an Extraordinary General Meeting held on Wednesday, the single ordinary resolution to okay the demerger of the Prothena Business was duly passed. The complete text of the resolution was included in the notice of the EGM dated November 12th, which is available on the firm’s website while details of the votes lodged by proxy are also available on www.elan.com.

Misonix (NASDAQ:MSON) announces the end of its distribution arrangement with Aesculap, for the Misonix BoneScalpel” Ultrasonic Bone Cutting System; since January 2011, Aesculap has been a non-exclusive, private label domestic distributor of the BoneScalpe, for clinical applications in spine and cranial surgery. The former is an international surgical device firm that designs, makes and markets innovative therapeutic ultrasonic products for spine surgery, skull-based surgery, neurosurgery, wound debridement, cosmetic surgery, laparoscopic surgery and other surgical applications.

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Johnson & Johnson’s (NYSE:JNJ) Janssen Research & Development reports that it has submitted a New Drug Application to the FDA requesting approval for a fixed-dose therapy combining canagliflozin and immediate release metformin to treat patients suffering from type 2 diabetes. Canagliflozin consists of an investigational, oral medication for the treatment of adult patients with type 2 diabetes, while metformin is a first-line pharmacotherapy which can be used alone or along with other medications, including insulin, to treat type 2 diabetes.

Cerner Corporation (NASDAQ:CERN) said Wednesday that its board has okayed a stock buyback program, which allows the repurchase of as much as $170 million worth of its common stock. The firm will repurchase shares from time to time in the open market, by block purchase, or perhaps through other transactions managed by broker-dealers, with no time limit was set. Estimated on the December 12th close, about 2.1 million shares, or 1.2 percent of the firm’s shares outstanding, could be repurchased.

Immunomedics (NASDAQ:IMMU) reports that two new classes of bispecific antibodies were formed as the “dock-and-lock” complexes using its patented platform tech that enables site-specific conjugation of two self-assembling modules. These bispecific antibodies indicated potent cell killing activity against lymphoma cell lines in vitro. Immunomedics is a biopharmaceutical firm primarily concentrated on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases.

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