Shares of Theravance Inc. (NASDAQ: THRX) rallied on Monday after a report from the U.S. drug regulators showed that the once-a-day lung disease treatment Breo Ellipta, which the company is developing in conjunction with the GlaxoSmithKline Plc, might get an approval.
The FDA’s pulmonary allergy advisory committee will review the inhaler Breo Ellipta on Wednesday. The drug has the potential to replace GlaxoSmithKline’s Advair, a lung disease treatment which is taken twice-a-day.
Shares of Acorda Therapeutics Inc. (NASDAQ: ACOR) climbed after the Company said that the phase 2 study of AMPYRA Extended Release Tablets (10 mg) showed that the people suffering with post-stroke deficits were able to improve their walking when treated with this drug.
“A top-line analysis of the data found dalfampridine-ER improved walking for people with mobility impairment resulting from ischemic stroke. Dalfampridine-ER treatment was also associated with a positive change versus placebo on a scale of functional independence in this study, said Acorda Therapeutics’ M.D. President and Chief Executive, Ron Cohen in a statement.
Shares Life Technologies Corp. (NASDAQ: LIFE) jumped after Thermo Fisher Scientific Inc. (NYSE: TMO) said that it has agreed acquire diagnostics equipment maker Life Technologies Corp in deal estimated at $13.6 billion, one of the biggest buyout deals announced so far in 2013. In case the deal materializes then it will significantly expand Thermo Fisher’s presence in personalized medicine market. This will be
It is one of the biggest U.S. buyouts unveiled so far in 2013 and the largest ever for Thermo Fisher, exceeding even the $10.6 billion deal that formed the company in 2006 through the merger of Thermo Electron Corp. and Fisher Scientific International Inc.
Shares of gold mining and exploration companies such as New Gold Inc. (USA) (AMEX:NGD), Barrick Gold Corporation (USA) (NYSE:ABX), and Goldcorp Inc. (USA) (NYSE:GG) fell sharply on Monday as the yellow metal continued to get hammered due to panic sell-off. Gold, which entered a bear territory on Friday plunging about 4%, tumbled more than 9% on Monday. The metal now lies in oversold territory. Gold has now posted a biggest two-day decline in last thirty years.
Shares of metallurgical coal producer, Walter Energy Inc. (NYSE:WLT) tumbled on Monday and posted biggest decline in last 18 months as rattled investors offloaded energy stocks following the release of unexpectedly weak first quarter GDP data from China. China is the biggest market for metallurgical coal.
Shares of Sprint Nextel Corp. (NYSE: S) rallied after U.S.’ second largest satellite television provider, Dish Network, offered to buyout Sprint Nextel in deal estimated at $25.5 billion, an offer which could spoil Japan’s Softbank bid to buy 70% stake in Sprint.
Dish Network informally offered $7 a share both in cash and stock, which it says represents 13% premium over Japan’s Softbank’s complicated offer to acquire 70% stake in the wireless carriers for $20.1 billion. According to CNBC, Dish Network has hired Barclays as an advisor. The Company intends to buy Sprint both through cash in hand and securing debt financing.
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