Healthcare Business Review: pSivida’s CURES Blindness, Baxter’s DUTCH Deal
Here are Thursday’s top stories:
Shares of pSivida Corporation (NASDAQ:PSDV) gain more than a fourth of their value, following word that the FDA will allow it to skip Phase I and Phase II trials for an eye insert treatment, and proceed directly to Phase III. The treatment injects a med into the back of the eye which treats posterior uveitis, an inflammatory disease which is the third-largest cause of blindness in the United States.
Baxter International, Inc. (NYSE:BAX) reports an agreement with The Netherlands Sanquin Blood Supply Foundation to help support the expansion of the former’s plasma-derived treatments. Second quarter net profits moved up from $615 million, to $661 million, even though foreign exchange hampered growth in revenues. Guidance for third quarter earnings sees a range between $1.12 and $1.14 versus consensus of $1.16; and growth in sales of 1 percent, against consensus of 2 percent.
Humana, Inc. (NYSE:HUM) will sell assets of Arcadian Health Plan to WellCare Health Plans, Inc. (NYSE:WCG), as part of the terms under which Humana’s purchase of Arcadian was okayed by regulators. It is thought that the transaction will reinforce WellCare’s coverage in Arizona.
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