Healthcare Business Report: Pozen Upheld In Appeals Court, Cell Therapeutics Shares Slide
A Texas District Court’s decision that had was originally found in favor of Pozen (NASDAQ:POZN) was upheld by United States Court of Appeals, against a number of generic pharmaceutical firms which had filed Abbreviated New Drug Applications requesting an FDA approval to market generic copies of Treximet. Treximet is marketed by Pozen’s exclusive United States licensee, GlaxoSmithKline (NYSE:GSK).
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UnitedHealth Group (NYSE:UNH) leads the pack of hopefuls who want part or all of the Brazilian insurer and hospital operator Amil Participaçőes, which currently has a market cap of 9.01 billion reais, or $4.47 billion, according to Bloomberg. Such a deal would allow UnitedHealth access to a growing private-insurance market and bring growth opportunities to its Optum unit, which supplies tech and consulting to health systems.
Shares of Cell Therapeutics (NASDAQ:CTIC) lost a quarter of their value on the day, subsequent to the pricing of its offering of 60,000 shares of convertible preferred stock. Each share is convertible into approximately 714 shares of common stock at $1.40, representing about 42.9 million shares. Currently, the outstanding float is 52.25 million shares.
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