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Equity Briefing : GNOM, AFFY and MRK are Notable Gainers in Healthcare
Major U.S. stock indices pared most of its early losses and now trading near to session high after ending sharply lower in yesterday's session as few Few Fed officials thought of another round of quantitative easing. There are several healthcare stocks which are showing notable headlines in today's session.
Affymax, Inc.(NASDAQ:AFFY) jumped sharply as its partner, Takeda Pharmaceuticals, has reached an agreement to supply their anemia treatment Omontys to U.S. dialysis centers run by Germany's Fresenius Medical Care.
GlaxoSmithKline plc (NYSE:GSK) stock fell 2.70% to $44.31 in the early hour after the company today said that it has withdrawn a supplemental New Drug Application to the U.S. Food and Drug Administration, or FDA, for Tykerb, or lapatinib, in combination with trastuzumab for treating breast cancer.
Additionally, the company announced that data have been received from the Phase III Harmony 8 study and from the event driven meta-analysis for assessment of cardiovascular safety conducted across the albiglutide clinical programme.
Complete Genomics, Inc. (NASDAQ:GNOM) shares increased 1.37% to $2.97 after the company announced that its Long Fragment Read (LFR) technology for whole genome sequencing dramatically improves accuracy, enables fully-phased genomes, and significantly reduces the amount of DNA required for testing. The company's LFR technology should accelerate the use of whole genome sequencing by physicians to diagnose and treat their patients.
Johnson & Johnson (NYSE:JNJ) stock fell 0.28% to $67.71 in the morning hour. On July 9, 2012, Bayer AG and Johnson & Johnson's anti-blood-clotting pill Xarelto won priority review status from the U.S. Food and Drug Administration for the treatment of deep vein thrombosis and pulmonary embolism. The priority review also includes the drug's use in the long-term prevention of venous thromboembolism in patients who have already suffered an attack.
Merck & Co., Inc. (NYSE:MRK) shares climbed 4.19% to $42.94 after the company's experimental osteoporosis drug odanacatib has shown that it reduces fracture risk, prompting outside monitors to recommend that the study be stopped early. The company expects to take a number of months to wind up the trial but will continue with an extension trial to follow up on certain safety issues flagged by the Data Monitoring Committee. The company expects to submit regulatory applications for U.S., European and Japanese approval of odanacatib in the first half of next year.
Hologic, Inc. (NASDAQ:HOLX) stock gained 1.76% to $18.48 after the company announced that it has launched marketing for $750 million aggregate principal amount of its senior notes due 2020, in a private offering expected to close concurrently with the completion of the company's acquisition of Gen-Probe Incorporated, which, subject to the satisfaction of certain customary closing conditions, including obtaining the approval of Gen-Probe's stockholders, is expected to close on or about August 1, 2012.
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