Shares of PRX Now Overbought Thursday, December 1, 1:43 PM ET, by Market News Video Staff In trading on Thursday, shares of Par Pharmaceutical Companies Inc (PRX) entered into overbought territory, ...
Pharma News: United Therapeutics, Zogenix, Par Pharmaceuticals
By Market News Video Staff, Wednesday, August 24, 9:55 AM ET
United Therapeutics Corporation (NASDAQ:UTHR) said today its Phase 3 trial of oral treprostinil, did not meet its primary endpoint.
The study of a sustained release oral formulation of the synthetic form of prostacylin showed that patients treated for pulmonary arterial hypertension did not achieve a statistically significant improvement in how far they were able to walk within six minutes by week 16 of the trial.
Secondary endpoints including time to clinical worsening and changes in other symptoms also did not differ significantly from a placebo.
The company said it is further reviewing its results. The drug is already approved to treat pulmonary arterial hypertension via other delivery methods.
In other pharma news, Zogenix (NASDAQ:ZGNX) has filed registration documents with the Securities and Exchange Commission to offer 12 million shares of common stock.
The company had announced positive results in a trial of a chronic pain treatment last week, and the offering will likely help the company to fund further development of the drug.
Also today, Par Pharmaceutical Companies (PRX) said it has agreed to acquire privately-held Anchen Pharmaceuticals for $410 million in cash.
Anchen is a profitable pharmaceutical company that develops and commercialized extended release and niche generic products.
Par said that transaction will be immediately accretive to 2011 earnings.
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