Here are Tuesday’s top stories:
Shares of CareFusion Corporation (NYSE:CFN) rise modestly after the firm reported that the FDA has classified the voluntary recall of its EnVe Ventilator as Class 1, which is defined as possessing a reasonable likelihood of serious adverse health consequences or death, associated with use of the defective units. CareFusion initiated the voluntary recall in June.
Somaxon Pharmaceuticals Inc.(NASDAQ:SOMX) is resolving its patent litigation suit with Mylan Inc. (NASDAQ:MYL) and Par Pharmaceutical Companies (NYSE:PRX), which involve Silenor 3 and 6 milligram tablets. The settlement grants Mylan the exclusive right to start selling a generic version of Silenor on January 1, 2020, and Par the right to begin selling a generic version 180 days subsequent to the date in which a third party generic version is first sold in the U.S. under a license from Somaxon.
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