| Couple's Gift for Mental Health Former art collectors Barbara and Donald Jonas donated $500,000 to the New York-Presbyterian Hospital to help provide mental-health services to non-psychiatric patients. online.wsj.com |
FDA Panel Recommends Novartis MS Drug The Burrill Report submits: By Michael Fitzhugh A Food and Drug Administration panel has unanimously backed the safety and effectiveness of Novartis' (NVS) multiple sclerosis treatment fingolimod. The panel voted 25-0 in support of fingolimod's “substantial evidence of effectiveness” in treating patients with relapsing remitting multiple sclerosis. That makes it likely the drug will be the first oral MS treatment to gain FDA approval, beating Merck (MRK), Sanofi (SNY) and Teva (TEVA) - all of which are developing their own oral MS drugs - to the punch.Complete Story » seekingalpha.com |
Axial Capital Again Adds to QLT Stake Market Folly submits:Just a few days ago we detailed how Eliav Assouline and Marc Andersen's hedge fund Axial Capital was buying shares of QLT Inc (QLTI). This trend continues as Axial recently filed another Form 4 with the SEC regarding QLTI shares. On July 6th, 2010, Axial purchased 109,157 shares of QLT Inc. at a price of $5.79 per share. This brings their total ownership up to 6,304,586 shares. Eliav and Andersen's hedge fund has been accumulating shares over the span of a few months now, continuing to buy as QLTI trades lower.The interesting thing with this play is that many have characterized QLT Inc as a value trap or a 'cigarette-butt' type of investment. It is essentially a play on the biotech company's royalty stream. Some argue that while the stream is healthy now, it is likely to decline. Assouline and Andersen seem to disagree as they continue to accumulate shares.Complete Story » seekingalpha.com |
BioMarin Pipeline Update Zacks.com submits: Recently, BioMarin Pharmaceutical Inc.’s (BMRN) pipeline received a boost with the US Food and Drug Administration (FDA) granting orphan drug status to its candidate BMN-701, which is being developed to combat Pompe disease. The investigational new drug (IND) application for the candidate, which has been effective in pre-clinical studies, was accepted by the FDA with clinical trials expected to commence in the first quarter of 2011.Complete Story » seekingalpha.com |
PPD Announces Third Quarter 2010 Earnings Release, Webcast and Conference Call [Business Wire] - WILMINGTON, N.C.----PPD, Inc. will release its third quarter 2010 financial results on Tuesday, October 26, 2010, after the market closes. The earnings release will be available on the PPD website at www.ppdi.com. us.rd.yahoo.com |