On Tuesday, Shares of Baxter International Inc. (NYSE:BAX), lost -2.44% to $37.11.
On June 24, Baxalta Incorporated, a wholly-owned partner of Baxter International Inc. (BAX), stated continued progress on the Phase 1/2 open-label clinical trial assessing the safety and optimal dosing level of BAX 335, an investigational factor IX (FIX) gene therapy treatment for hemophilia B, during an oral presentation at the 2015 International Society on Thrombosis and Haemostasis (ISTH) Congress in Toronto, Canada.
Individuals with hemophilia B lack the ability to produce clotting factor IX and are recently treated with infusions of plasma-derived or recombinant factor IX. BAX 335 is designed to provide a mechanism for a hemophilia B patient’s own liver to start producing FIX over an extended period following a single dose of treatment.
The technology Baxalta has investigated since 2012 is the Biological Nano Particle (BNP™) platform — an advanced rAAV8-based gene therapy technology obtained through the partnership and subsequent acquisition of Chatham Therapeutics. The BNP platform is designed to enable patients to achieve stable factor IX activity on their own when infused in the body. To achieve a therapeutic effect while keeping vector doses as low as possible, BAX 335 uses FIX-Padua, a naturally occurring, highly active variant of FIX.
Baxter International Inc., develops, manufactures, and markets products for people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions.
Shares of Horizon Pharma plc (NASDAQ:HZNP), declined -1.97% to $33.86, during its last trading session.
Horizon Pharma, declared a proposal to acquire all outstanding shares of Depomed, Inc. for a per share consideration of $29.25 in an all-stock, tax-free exchange valued at about $3.0 billion. Horizon’s proposal represents a premium of 42 percent to the closing price of Depomed on July 6, 2015. The transaction, if consummated, would be right away and substantially accretive to Horizon’s adjusted diluted earnings per share.
“The planned and financial benefits of our proposal are highly compelling,” said Timothy P. Walbert, chairman, president and chief executive officer, Horizon Pharma plc. “Given the noteworthy revenue and operating synergies, in addition to considerable tax savings, we would create substantial long-term value for Depomed’s shareholders in addition to the immediate value realized through the projected premium.
“Despite our repeated attempts starting in March to engage Depomed’s administration and board of directors in friendly and confidential discussions, Depomed’s administration and board have refused to engage in discussions with us and rejected our proposal,” added Mr. Walbert. “We have elected to bring this proposal to the attention of Depomed’s shareholders, who we expect, given the opportunity to understand the financial, planned and operational benefits of this transaction will support it and will encourage their Board and administration to start constructive discussions with us promptly with the aim of concluding a negotiated transaction.”
The proposal is subject to the pre-condition of confirmatory due diligence. This pre-condition may be waived by Horizon Pharma plc at its discretion.
Horizon Pharma plc, a specialty biopharmaceutical company, engages in identifying, developing, acquiring or in-licensing, and commercializing medicines for the treatment of arthritis, pain, inflammatory, and/or orphan diseases in the United States and internationally.
Finally, Community Health Systems, Inc. (NYSE:CYH), ended its last trade with -0.71% loss, and closed at $62.65.
Community Health Systems, declared that it will provide an online Web simulcast and rebroadcast of its second quarter 2015 conference call.
The Company will issue a press release announcing its results on Monday, August 3, 2015, after the regular close of trading. The conference call is planned to start at 10:00 a.m. Central time, 11:00 a.m. Eastern time, on Tuesday, August 4, 2015.
Community Health Systems, Inc., together with its auxiliaries, provides general and specialized hospital healthcare services to patients in the United States. The company operates general acute care hospitals that offer a range of inpatient and outpatient medical and surgical services, such as general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, in addition to skilled nursing and home care services based on individual community needs.
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