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Interim Chief Executive John Cannon of the health insurer WellPoint (NYSE:WLP) says that his firm’s integration with Amerigroup Corporation (NYSE:AGP), which it is purchasing for $4.9 billion, should be smoothed by its reorganization into four business groups. The divisions will consist of Medicaid, Medicare, commercial & individual, and dental, vision & disability coverage The Amerigroup Chief Executive James Carlson will head the Medicaid division.
Shares of the drug development firm AEterna Zentaris (NASDAQ:AEZS) crater on the day following the announcement of a public offering beginning, of units consisting of common shares and warrants to purchase common shares. The magnitude of the offering was not reported.
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Lexicon Pharmaceuticals (NASDAQ:LXRX) shares popped on word of positive top-line results from a midstage evaluation for telotristat etiprate, its investigational new drug to treat carcinoid syndrome. At this time the drug holds fast track status and orphan drug designation from the FDA, plus orphan drug designation from regulator in Europe.
Investing Insights: Here are 5 Biopharmaceutical Companies on the Rise.
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