Healthcare Business Review: Greenlight BUYS Cigna and Coventry, Centene’s RESILIENT Shares
Here are Tuesday’s top stories:
David Einhorn’s Greenlight Capital begins positions in CIGNA Corporation (NYSE:CI) and Coventry Health Care, Inc. (NYSE:CVH), explaining that the “unpriced upside in the possibility that the election changes the political landscape.”
Don’t Miss: Amgen’s Second Quarter Earnings Sneak Peek.
Centene Corporation (NYSE:CNC) shares move up Tuesday, even though the firm posted a second quarter loss of $35 million, from a profit of $28.4 million year-over-year; earnings per share missing estimates, and an increased medical-loss ratio of 92.9 percent. However, Centene forecasts that it would return to profit in the third quarter and it kept its fiscal year earnings outlook.
Shares of Dendreon Corporation (NASDAQ:DNDN) might in part be reacting to Provenge’s recent inclusion on the European Medicines Agencies’ extended eudra-vigilance medicinal product dictionary, which outlines a drug’s basic product details. It is now required that all drugs registered in the European Union, have their product data submitted to this dictionary.
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