Novartis Sells Visudyne to Valeant Pharma and 4 Stocks that Have Hit 52-Week Highs

LML Payment Systems, Inc. (NASDAQ:LMLP) and Digital River, Inc. (NASDAQ:DRIV) have reached a definitive agreement through which Digital River will purchase the former in an all cash transaction valued at $3.45 per share, or a total acquisition price of about $102.8 million. Together, the firms will process more than $20 billion in online transactions for tens of thousands of companies across a broad range of industries, among which include consumer electronics, software, utilities, government, event registration and mobile payments. The transaction is subject to the customary terms and conditions, close during the fourth quarter in 2012 or the first quarter in 2013, and is projected to be accretive to Digital River’s earnings in its 2013 fiscal year. Shares of LML closed up 81.82 percent on the day at $3.40, and have been traded in a 52-week range of $1.45 to $3.33.

Medtronic Inc. (NYSE:MDT) reports a ConformitĂ© EuropĂ©enne, or CE, Mark for its new Affinity Fusion oxygenation system in Europe. This system was designed to serve as a patient’s lungs by oxygenating and removing carbon dioxide from blood during various open-heart surgical procedures, and also incorporates numerous innovations for patient safety and ease of use. Significantly, system enhancements are designed to prevent and remove air bubbles that can enter the blood during the procedure, which should decrease the risk of stroke. Shares closed up 0.83 percent on the day $43.71, having been traded in a 52-week range of $31.06 to $43.47.

Novartis AG (NYSE:NVS): Valeant Pharmaceuticals International, Inc.(NYSE:VRX) has bought the rights to Visudyne, which is a treatment for a form of age-related blindness in which there is an abnormal growth of leaky blood vessels. The buyer is paying QLT Inc. (NASDAQ:QLTI) $112.5 million upfront for Visudyne, and might subsequently pay an additional $20 million. QLT is eligible to receive as much as $5 million in contingent payments relating to the development of its laser program in the United States, up to $15 million in contingent payments relating to the Novartis non-U.S. royalties, and a royalty on net sales of new indications for Visudyne, upon their approval. Shares closed up 0.13 percent on the day at $61.34, and have traded in a 52-week range of $51.20 to $61.42.

Sprint Nextel Corporation (NYSE:S): Several stores in the United States report that they are sold out of Apple’s (NASDAQ:AAPL) iPhone 5, according to The Associated Press. The new phone went on sale on Friday. Shares of Sprint closed up 0.88 percent on the day at $5.70,having been traded in a 52-week range of $2.10 to $5.71.

Sabra Health Care REIT (NASDAQ:SBRA) purchased, with available cash, on September 21st a 249-unit independent living facility in Frankenmuth, Michigan for a price $26.5 million. At the same time as the purchase, Sabra entered into a triple-net lease agreement with affiliates of Unified Acquisitions & Development, LLC, with a lease containing a 10-year initial term, with two five-year renewal options. This lease provides for annual rent escalators that are equal to the greater of the change in the Consumer Price Index or 3.0 percent, which results in annual lease revenues determined in accordance with GAAP of $2.4 million along with an initial yield on cash rent of 8.0 percent. Shares closed up 0.25 percent on the day at $20.42, and have been traded in a 52-week range of $7.86 to $20.45.

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