Healthcare Biz Recap: CareFusion’s Voluntary RECALL, Somaxon SETTLES Suit

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.

Don’t Miss: St Jude Medical’s Second Quarter Earnings Sneak Peek.

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.

Don’t Miss: Johnson & Johnson Books PROFIT, Revenue Lighter.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.