On Tuesday, Shares of Magellan Health Inc (NASDAQ:MGLN), lost -9.99% to $51.69.
Magellan Health, declared that Mostafa Kamal, chief executive officer of Magellan Rx Administration, the company’s pharmacy benefit administration division, will take part in a panel negotiation at the Barclays Select Series Biosimilars Symposium in New York on Wednesday, October 7, 2015 from 8:45-10:15 a.m. Eastern. The panelists will discuss the topic “Determining Access, Driving Acceptance: Biosimilars’ Journey through the Pharmaceutical Supply Chain.”
Magellan Health, Inc. engages in the healthcare administration business in the United States. The company’s Managed Healthcare Commercial segment offers managed behavioral healthcare services, in addition to employee assistance programs services.
Shares of Nidec Corporation (ADR) (NYSE:NJ), declined -2.15% to $17.73, during its last trading session.
Nidec Corporation, declared the status of the Company’s own share repurchase under its ongoing repurchase plan resolved at a meeting of the Board of Directors held on January 22, 2015, following Article 459, Paragraph 1, Item 1 of the Company Law of Japan.
NIDEC Corporation manufactures and sells electric motors and related components and equipment worldwide. It offers hard disk drives spindle motors and other small precision motors for optical disk drives, electronic cooling fans, refrigerators, DVD recorders, laser printers, copiers, polygon scanners, automobiles, and other applications, in addition to vibration mechanism for mobile phones.
At the end of Tuesday’s trade, Shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE), remained flat at $12.22.
Vitae Pharmaceuticals, declared the appointment of Karen Bernstein, Ph.D., to its board of directors, effective right away. Dr. Bernstein is best known for co-founding and shaping BioCentury Publications Inc. into one of the biotechnology sector’s most highly regarded sources of global industry intelligence. Dr. Bernstein stepped down from her role as Editor-in-Chief in August, but continues to serve as BioCentury’s Chairman.
“Karen’s vast professional network, industry insight, and planned perspective will be of great value to the Vitae team as we continue to advance our wholly owned product candidates through the clinic,” said Don Hayden, Chairman of Vitae’s board of directors.
Dr. Bernstein co-founded BioCentury in 1992. During her tenure as Chairman and Editor-in-Chief, she was instrumental in growing the company into a key source of independent intelligence and analysis for a global biopharmaceutical audience.
Vitae Pharmaceuticals, Inc., a biotechnology company, focuses on discovering and developing novel and small molecule drugs for diseases with unmet medical needs in the United States. The company’s products comprise VTP-34072 that is in Phase II clinical trial for the treatment of type 2 diabetes and metabolic syndrome; and BI 1181181 and BI 1147560 for the treatment and prevention of Alzheimer’s disease.
Finally, Steelcase Inc. (NYSE:SCS), ended its last trade with -1.89% loss, and closed at $18.69.
Steelcase Inc., stated second quarter revenue of $819.0 million and net income of $37.2 million, or diluted earnings per share of $0.30. Not Taking Into Account restructuring costs, adjusted earnings were $0.35 per share. In the preceding year, Steelcase stated $786.7 million of revenue, diluted earnings per share of $0.24 and adjusted earnings of $0.27 per share.
Organic revenue growth over the preceding year was 7 percent after adjusting for about $29.6 million of unfavorable currency translation effects and the impact of a small acquisition, net of divestitures. All segments stated organic revenue growth, with 17 percent growth in EMEA, 6 percent growth in the Americas and 5 percent growth in the Other category. The strong growth in EMEA in the current quarter compares to an organic revenue decline in the preceding year, which comprised a number of project orders with extended shipment dates and extended lead times associated with manufacturing disruptions.
Current quarter operating income of $60.1 million compares to operating income of $52.8 million in the preceding year. Not Taking Into Account restructuring costs, second quarter adjusted operating income of $71.4 million improved by $12.2 million contrast to the preceding year and was driven by strength in the Americas.
Steelcase Inc. designs, manufactures, and distributes an integrated portfolio of furniture settings, user-centered technologies, and interior architectural products. The company operates through Americas, EMEA, and Other Category segments.
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