During Tuesday’s Current trade, Shares of Dr.Reddy’s Laboratories Ltd (ADR) (NYSE:RDY), gain 1.29% to $62.17.
Dr. Reddy’s Laboratories (RDY) declared that it has launched ESOMEPRAZOLE MAGNESIUM DELAYED-RELEASE CAPSULES USP, 20 mg and 40 mg, a therapeutic equivalent generic version of NEXIUM® (esomeprazole magnesium) Delayed-Release Capsules in the US market on September 25, 2015, following the approval by the United States Food & Drug Administration (USFDA).
The NEXIUM® (esomeprazole magnesium) Delayed-Release Capsules brand and generic had U.S. sales of about $5.2 Billion MAT for the most recent twelve months ending in July 2015 according to IMS Health*.
Dr. Reddy’s ESOMEPRAZOLE MAGNESIUM DELAYED-RELEASE CAPSULES USP, 20 mg and 40 mg are accessible in bottle count size of 30.
Dr. Reddy’s Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment produces and markets finished pharmaceutical products as branded formulations or generic finished dosages.
Shares of 2U Inc (NASDAQ:TWOU), inclined 0.40% to $35.25, during its current trading session.
2U, Inc. declared the pricing of its formerly declared public offering of 3,500,000 shares of its common stock at a price to the public of $34.00 per share. A total of 3,100,000 shares are being offered by the Company and 400,000 shares are being offered by the selling stockholders named in the registration statement (the “selling stockholders”). The offering is predictable to close on or about September 30, 2015, subject to customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock from the Company at the public offering price.
The Company anticipates to receive gross proceeds of about $105,400,000. The proceeds of the offering will be used by the Company for general corporate purposes, counting expenditures for program marketing, sales, technology, and content development, in connection with new program launches and growing existing programs. The Company will not receive any proceeds from shares of common stock to be sold by the selling stockholders.
Goldman, Sachs & Co. and Credit Suisse Securities (USA), LLC are acting as joint book-running managers for the projected offering. Needham & Company, LLC, Oppenheimer & Co. Inc., Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., Robert W. Baird & Co. Incorporated, Barrington Research Associates, Inc., Compass Point Research & Trading, LLC and First Analysis Securities Corporation are acting as co-managers.
2U, Inc. provides cloud-based software-as-a-service (SaaS) solutions for nonprofit colleges and universities to deliver education to qualified students. Its cloud-based SaaS platform solutions comprise online campus, an online learning platform that enables its clients to offer educational content together with instructor-led classes in a live, intimate, and engaging setting through proprietary Web-based and mobile applications; and content administration system, which enables its clients to author, review, and deploy asynchronous content into their online programs.
ICON PLC (NASDAQ:ICLR), during its Tuesday’s current trading session gained 4.02% to $71.85.
ICON plc, (ICLR) declared that it is working with IBM (IBM) to assist reduce the time and costs of drug development, while also offering patients improved quality of care by connecting them to relevant clinical trials. ICON will tap Watson’s cognitive computing power to assist automate the cumbersome process of identifying patients who meet the criteria for a clinical trial, and to analyse protocols to assess trial feasibility and identify optimal trial sites.
Initially, ICON is applying Watson Clinical Trial Matching to its breast, lung, colon and rectal cancer trials. The solution enables ICON to advise sponsors how many patients match their trial criteria, where they are located and how they will recruit them. IBM’s Watson Health Cloud will facilitate access to de-identified patient data, counting 50 million patient records contained in the data set from Explorys, which IBM attained in April. At the same time, ICON enhances IBM Watson’s capabilities by providing expertise into clinical trial protocols and clinical operations.
The cost and time involved in clinical trials is considerable. More than $1.3B is spent on patient recruitment by drug developers each year and yet fewer than 5% of cancer patients take part in a clinical trial. It also typically takes 6-12 months to start up a global phase III drug trial and another 12 months to enroll the required number of patients.
ICON Public Limited Company, a contract research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It develops, manages, and analyzes programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.
Finally, ANI Pharmaceuticals Inc (NASDAQ:ANIP), gained 1.82%, to $40.33.
ANI Pharmaceuticals, Inc. (ANIP) declared that it has agreed to acquire the NDAs for purified corticotropin gel and corticotropin-zinc hydroxide from Merck (known as MSD outside of the United States and Canada) for $75 million in cash and a percentage of future net sales. ANI estimates that the current annual U.S. market for the products it is acquiring is about one billion dollars as evidenced by sales of H.P. Acthar® gel marketed by Mallinckrodt Pharmaceuticals. The acquisition is being funded through cash on hand and is subject to certain customary closing conditions.
Corticotropin gel is a purified corticotropin (ACTH) in a sterile solution of gelatin for prolonged activity. Corticotropin-zinc hydroxide (sterile corticotropin zinc hydroxide suspension USP) is a sterile aqueous suspension of purified corticotropin (ACTH) with zinc hydroxide for repository action. The products are approved for various disease states counting Multiple Sclerosis, Rheumatic disorders, Dermatologic diseases, and a variety of Collagen, Ophthalmic, Respiratory diseases in addition to Allergic and Edematous states.
As part of its acquisition strategy, ANI has determined to pursue the formation of one or more foreign auxiliaries to effect its acquisitions, manufacture products and/or provide other ancillary services. It is predictable that this acquisition from Merck will be effected through one of such auxiliaries. It is anticipated that this will enable ANI to achieve a lower over-all tax rate for its operations.
ANI Pharmaceuticals, Inc., an integrated specialty pharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals. It manufactures oral solid dose products, in addition to liquids and topicals, narcotics, and potent products.
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