Healthcare Business Recap: Catalyst Pharma Suffers Delay, Medtronic Gets CE Mark
Shares of Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) take a dive on the news of a delay in top-line results from a study of its vigabatrin phase IIb trial for cocaine addiction. The Department of Veterans Affairs Cooperative Studies Program will be unable to provide results near the end of September as was expected, but the firm still expects a report “significantly earlier than we had originally anticipated.”
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Medtronic Inc. (NYSE:MDT) reports that it has received a European CE Mark for its Medtronic CoreValve Evolut 23mm valve, which represents its latest self-expanding transcatheter aortic valve implantation system. The new valve employs technology that optimizes fit, thus promoting sealing between the prosthetic valve and the native valve. Currently, the product is restricted to investigational use in the United States.
The announcement by Merck & Co., Inc. (NYSE:MRK) that it will return the global marketing and development rights for both the intravenous and oral formulations for vernakalant to Cardiome Pharma Corporation (NASDAQ:CRME), has lifted shares of the latter. Merck shares spiked then fell back.