Healthcare Biz Review: Osiris ACCUSED, Chelsea’s BAD NEWS
Osiris Therapeutics (NASDAQ:OSIR) stands accused by Adam Feuerstein at The Street of misleading its investors concerning the results from a Phase II trial of its stem-cell treatment Prochymal in heart-attack patients. The analyst says that “The company claimed the study was a success. That’s not true. Figuring out Osiris’ deception wasn’t that difficult”.
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Shares of Chelsea Therapeutics (NASDAQ:CHTP) fall into the abyss, following notification from the FDA that data from the ongoing evaluation of its Northera low-blood-pressure med, which is/was the company’s top drug candidate, is not likely to provide sufficient evidence to support marketing approval for the treatment.
Bristol-Myers Squibb’s (NYSE:BMY) joint acquisition of Amylin (NASDAQ:AMLN), as well as its assertive share repurchase, is not going over well at Fitch, which downgrades the firm’s long term debt rating from A+ to A, with a negative outlook. The patent cliff the company is presently enduring isn’t helping much, either.
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