On Wednesday, Shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX), gained 4.19% to $214.06, hitting its highest level.
Valeant Pharmaceuticals, declared that Howard B. Schiller has advised the Company of his decision to step down as Chief Financial Officer once a successor is designated. In order to facilitate a smooth transition, Mr. Schiller will remain in his current position as the search for his replacement proceeds. With the support of Valeant’s Board of Directors, Mr. Schiller will remain on the Valeant Board and, with the Board’s continued recommendation, intends to stand for re-election as a director at the annual shareholder meeting in May.
Mr. Schiller, 53, joined Valeant in December 2011 as Chief Financial Officer and was designated to the Board of Directors of Valeant in September 2012 .
The Company also declared that Anne C. Whitaker , former President and Chief Executive Officer of Synta Pharmaceuticals, will join Valeant’s Executive Administration Team as Executive Vice President and Company Group Chairman.
Valeant Pharmaceuticals International, Inc. develops, manufactures, and markets pharmaceuticals, over-the-counter products, and medical devices worldwide. The company offers Solodyn to treat red and pus-filled pimples of acne in patients, in addition to Ziana, Acanya, Atralin, Retin- A Micro, and ONEXTON gel; Wellbutrin XL for major depressive disorder in adults.
At the end of Wednesday’s trade, Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT), jumped 4.15% to $28.34, hitting its highest level.
The Goodyear Tire & Rubber Company, stated record earnings for the first quarter of 2015.
Goodyear’s first quarter 2015 sales were $4.0 billion, down from $4.5 billion a year ago, with the decrease largely attributable to unfavorable foreign currency translation of $393 million.
Tire unit volumes totaled 40.8 million for the first quarter of 2015, up 2 percent from last year. Original equipment unit volume was up 3 percent. Replacement tire shipments were up 2 percent.
The company stated record first quarter segment operating income of $391 million in 2015, up from $373 million a year ago. The enhance in segment operating income was driven by higher sales volume, a net benefit from changes in price/mix and raw material costs and improvements in other cost items. These improvements were partially offset by unfavorable foreign currency translation.
Goodyear’s first quarter 2015 net income accessible to common shareholders was $224 million (82 cents per share). Net income comprises a non-cash, one-time gain of $155 million ($99 million after taxes and minority interest) for the recognition of deferred royalty income resulting from the termination of a licensing agreement associated with the company’s former Engineered Products business. Not taking into account certain noteworthyitems, adjusted net income was $148 million (54 cents per share). Per share amounts are diluted.
The Goodyear Tire & Rubber Company develops, manufactures, distributes, and sells tires, and related products and services in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific.
ArQule Inc. (NASDAQ:ARQL), ended its last trade with 4.06% gain, and closed at $2.05.
ArQule, declared that it will report its financial results for the first quarter of 2015 on Wednesday, May 6, 2015 at 7:00 a.m. eastern time. The Company will hold a conference call at 9:00 a.m. eastern time that day to talk about these results.
ArQule, Inc., a clinical-stage biotechnology company, researches and develops therapeutics for the treatment of cancer and rare diseases. Its lead product candidate is tivantinib, a small molecule inhibitor of the c-Met receptor tyrosine kinase and its biological pathway, which is in Phase III clinical trial for the treatment of liver cancer and non-small cell lung cancer; Phase II clinical trial for the treatment of mesothelioma and kidney cancer; and Phase I clinical trial for the treatment of pediatric tumors, in addition to has accomplished Phase II clinical trial for the treatment of colorectal cancer.
Finally, Ariad Pharmaceuticals Inc. (NASDAQ:ARIA), closed at $9.23, with 4.06% gain.
ARIAD Pharmaceuticals, declared that its founder, Harvey J. Berger, M.D., has informed the Board of his decision to retire as chairman and chief executive officer (CEO) upon the appointment of his successor or December 31, 2015, whichever is earlier. The Board has begun a comprehensive search to identify Dr. Berger’s successor. Dr. Berger has also agreed to serve as a special advisor to the Board and the new CEO upon his retirement to facilitate a smooth transition.
Dr. Berger commented on his tenure as ARIAD’s CEO:
“I am proud to have worked with so many incredibly talented employees and together to have achieved so much for cancer patients in need of new treatment options where none exist,” said Harvey J. Berger, M.D., chairman and chief executive officer of ARIAD. “With an established path to profitability and a well-defined set of critical corporate initiatives, ARIAD has a remarkable future. I had always anticipated retiring around age 65, which I will reach at the time of our forthcoming annual meeting. My colleagues and I are all driven by our passion for assisting cancer patients, and I hope ARIAD will always be recognized for this dedication.” Dr. Berger added, “ARIAD has been at the forefront of precision medicine initiatives in cancer, and I expect that the Company will continue to lead the way as new targeted therapies emerge from our drug-discovery platform – built on our computational and structural technologies.”
ARIAD Pharmaceuticals, Inc., an oncology company, engages in the discovery, development, and commercialization of medicines for cancer patients. The company offers Iclusig (ponatinib), a tyrosine kinase inhibitor (TKI) for the treatment of adult patients with chronic myeloid leukemia (CML), and Philadelphia chromosome-positive acute lymphoblastic leukemia in the United States, Europe, and other territories.
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