Health and Healthcare
BioHealth Business Daily (AMGN, AMLN, ALKS, DNDN, SNY, GENZ, MIPI)
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There are many key movers in today’s BioHealth Business Daily. We have included background data, news, reactions, and added in color where applicable. BioHealth stocks to watch today are Amgen Inc. (NASDAQ: AMGN), Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN), Alkermes Inc. (NASDAQ: ALKS), Dendreon Corp. (NASDAQ: DNDN), Sanofi-Aventis (NYSE: SNY), Genzyme Corporation (NASDAQ: GENZ), and Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI).
Amgen Inc. (NASDAQ: AMGN) is hardly budging on any follow-through trading, despite the news that the company has said it wants to be on the acquisition path. We have addressed some of the issues behind M&A here.
Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) is surging on news that Roche’s diabetes drug faces an FDA delay of what looks to be 12 to 18 months. Shares were up ‘only’ 12% pre-market and now the stock is up a sharp 18% at $19.53 on more than 11 million shares.
Alkermes Inc. (NASDAQ: ALKS) is up after the FDA notified it of the tentative scheduling of a FDA advisory committee meeting set for September 16 for review of its supplemental new drug application for Vivitrol, an alcohol-dependency treatment it also wants to use as an aid against opioid addiction.
Shares are up 9.4% at $12.65 on 2.2 million shares.
Dendreon Corp. (NASDAQ: DNDN) is hardly lower on some prostate cancer competition after the FDA approved Jevtana from Sanofi-Aventis (NYSE: SNY). After looking and considering things, there is reason to believe this is almost no financial competition at all.
Genzyme Corporation (NASDAQ: GENZ) is higher today on its an accelerated share buyback plan of $1 billion as part of a $2 billion buyback plan. It is worth wondering if Genzyme is wasting its capital buying back stock over other alternatives.
Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI) has been touted and is surging by 19% to $1.94 on only about 1.6 million shares. The 52-week range is $1.05 to $7.75 and it trades about 600,000 shares a day.
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