Healthcare Biz Review: Icahn SUES Forest, eHealth’s EXCELLENT News
Lexicon Pharma (NASDAQ:LXRX) shares spiked then fall back, subsequent to its publishing the results of two studies of its LX4211 oral drug for type 2 diabetes in the journal Clinical Pharmacology & Therapeutics, which enhanced positive results released earlier in the week.
Biogen Idec (NASDAQ:BIIB) and Isis Pharmaceuticals (NASDAQ:ISIS) will jointly develop and market an antisense medication for the treatment of Steinert disease. Isis will receive an upfront payment of $12 million, and is responsible for finding the lead drug candidate; if all goes to plan, Isis could gain more than $271 million.
Investing Insights: Arena Pharmaceuticals BOOSTS Orexigen and 4 Stocks that Have Hit 52-Week Highs.
Never a dull moment with Carl Icahn, as he is now suing Forest Laboratories (NYSE:FRX) for access to its books and records, after the firm rejected earlier requests for a full inspection. Under the suit Icahn is asking for access to documents that would describe FRX’s 2011 stock buyback program, plus information on the its succession plans. The activist investor alleges that the drug producer is holding back information from shareholders and also hasn’t met its commitments on corporate governance.
Thursday’s Supreme Court decision left eHealth (NASDAQ:EHTH) in aN optimal position, as it sells individual and family insurance policies, which available market the law’s mandate will more than double. In response Bank of America/Merrill Lynch upgraded the firm’s shares to Buy.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.