Cornerstone Therapeutics Soars On FDA Approval (CRTX, ESRX, AZN, PBH, SURG, CBRX)
Healthcare stocks jumped moderately on Tuesday with braoder market led by Cornerstone Therapeutics after the company Company said that the FDA accepted a New Drug Application for CRTX 080, Cornerstone’s product candidate for the treatment of hyponatremia.
Cornerstone Therapeutics Inc (NASDAQ:CRTX) increased 7.41% to $6.09. The Company said that the FDA accepted a New Drug Application for CRTX 080, Cornerstone’s product candidate for the treatment of hyponatremia. Hyponatremia affects up to six million people in the U.S. with direct medical costs estimated to range between $1.6 and $3.6 billion annually.
Express Scripts Inc (NASDAQ:ESRX) went up 0.64% to $53.79. Express Scripts Inc and Medco Health Solutions Inc said that they are working with the Federal Trade Commission to secure approval for their planned deal. They expect that the mergers will be completed by the earlier part of the second quarter of 2012.
AstraZeneca plc (ADR) (NYSE:AZN) went up 0.04% to $45.25. The Company is suing drug regulators in the U.S. in an effort to extend its exclusive rights on some forms of its top-selling anti-psychotic medicine Seroquel until December.
Synergetics USA Inc (NASDAQ:SURG) plunged 5.15% to $5.60 after the Company announced second quarter results. Net income was $1.87 million or $0.07 per share compared to $1.32 million or $0.05 per share in the previous year quarter. Operating income was $2.6 million from $1.8 million in the prior year period. Revenues increased 13.6% to $15.1 million.
Columbia Laboratories Inc (NASDAQ:CBRX) soared 4.53% to $0.70. The Company has engaged Cowen and Company as its independent financial advisor to assist the Company with its stated goal to evaluate possible strategic transactions.