Healthcare Business Recap: Dendreon Scores a Win, J&J’s Offer
Some 20,989 laser vision correction procedures were performed by LCA-Vision (NASDAQ:LCAV) during its first quarter, which made for an 11 percent year-to-year increase, amid the company’s third straight quarter of total procedure growth. LCA is scheduled to report its first quarter earnings on April 24th, but Maxim Group issued a Buy rating on the shares on Tuesday.
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Biomet offers J&J (NYSE:JNJ) $280 million for the trauma products operations of DePuy Orthopaedics. J&J expects that such a deal will “satisfy all regulatory concerns” regarding its $21.3 billion acquisition of Synthes.
Bio-Rad Labs (NYSE:BIO) will extend its marketing agreement with research tool maker Luminex (NASDAQ:LMNX), and Bio shares pop. The deal affords the firm rights to global sales and distribution of Luminex’s Magpix multiplexing instrument.
A Phase III trial of Bayer’s (BAYRY.PK) indicates that its drug regorafenib prevented gastrointestinal tumors from worsening, and Bayer will now apply for regulatory approval for the med. The German drug major will pay Onyx Pharma (NASDAQ:ONXX) a 20 percent royalty for use of regorafenib in oncology, and Onyx shares jump on the news.
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