Healthcare Business Review: Somaxon Goes WILD, Amicus’s Great DEAL
Here are Wednesday’s top stories:
Mako Surgical Group’s (NASDAQ:MAKO) Senior Vice President of Sales & Marketing, Steven Nunes, exited the form on Tuesday, with Chief Executive Maurice Ferre assuming sales responsibilities until a new Vice President of Sales is named. Nunes’ departure comes following Mako’s shares being pummeled last week subsequent to a sales warning.
Don’t Miss: Vivus BREAKTHROUGH Opens Up the Obesity Market.
Somaxon Pharmaceuticals, Inc. (NASDAQ:SOMX) shares gain almost two-thirds on the day, after initially jumping more than 150 percent in pre-open trading, in reaction to Tuesday’s announcement of its litigation settlement over Silenor with Mylan, Inc. (NASDAQ:MYL) and Par Pharmaceuticals. In addition, the firm sees higher second quarter net sales for Silenor, and revenue of between $2.8 million and $2.9 million, up from reported first quarter sales of $2.7 million.
Amicus Theraputics Inc.’s (NASDAQ:FOLD) expansion of its agreement with GlaxoSmithKline (NYSE:GSK) is a positive, says ThinkEquity, as it validates the former’s technology, and allows it several significant concessions, including full United States rights in Fabry, plus $18.6 million in cash. The analyst restates its price target of $9, and its Buy.
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