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Early benefits from Express Scripts Holding’s (NASDAQ:ESRX) huge acquisition of Medco are being seen, such as a large windfall fromlower priced deals from manufacturers, and the lesser returns from the adoption of Medco’s postage-rate strategy. Chief Medical Officer Steven Miller remarked that, “There’s much more of their stuff coming over than in a typical integration.”.
Investing Insights: Wall St. Daily: Apple Employees Cooked, JPMorgan’s Bet, Dell Dealtalk.
If the joyride isn’t over, it has at least made a pit stop, as shares of molecular diagnostics firm Rosetta Genomics (NASDAQ:ROSG) slump somewhat following the news that it will divest 570,755 shares to investors at $11.50, which represents a 29 percent discount to its Thursday close. Still, the stock has grown at a factor of ten since May 16th, and has more than doubled during the last two days.
Elan (NYSE:ELN) shares pop on the potential strength of its Alzheimer’s drug Bapineuzumab. Chairman Robert Ingram remarks that the FDA has indicated that “they will be very reasonable about getting something to patients that has a modicum of benefit.”. Not exactly hindering the share jump is word that Elan could be a takeover target, to which prospect Ingram said, “If an offer comes, we can’t ignore it…”.
Watson Pharmaceuticals (NYSE:WPI) announces the filing of an application with the FDA to market a generic version of Auxilium Pharmaceuticals’ (NASDAQ:AUXL) Testim 1 percent gel, which serves as testosterone replacement therapy.
Shares of Threshold Pharmaceuticals (NASDAQ:THLD) are definitely undervalued, says Cowen, when the potential of pancreatic cancer drug TH-302 is taken into the price. THLD estimates that the sales potential for the drug in the United States alone is nearly $1.5 billion.
Earnings Report: Patterson Companies Earnings: The Profit Streak Continues.
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