Healthcare Business Update: Hain’s NEW Credit Facility, Medivation Scores GOOD NEWS
Certain drug producer stocks fell modestly in Europe on word of a weaker than expected manufacturing report from the United States. Specifically, shares of Novo Nordisk A/S (NYSE:NVO), Roche Holding Ltd (RHHBY.OB), and GlaxoSmithKline (NYSE:GSK) must have disappointed investors on Tuesday.
Shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) took off as the company reported the closing of an expanded unsecured $850 million Senior Credit Facility led by Bank of America Merrill Lynch and Wells Fargo Bank. This facility and all its related commitments should mature in August 2017.
Medivation, Inc. (NASDAQ:MDVN) shares moved up once again on Tuesday, from Friday’s early FDA approval of its prostate cancer drug Xtandi. Wedbush believes that in time Xtandi will exceed Zytiga in sales and that the pre-chemotherapy data for the med should make it tops in the market.
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