Healthcare Stocks: Lexicon Jumps on LX4211’s Performance (MAPP, PLX, FIS, LXRX, BMY, PFE)
MAP Pharmaceuticals Inc.(NASDAQ:MAPP) intends to refile its new-drug application for its Levadex migraine treatment later this year after meeting with the FDA, which had expressed concerns about manufacturing problems. MAP believes these problems have been resolved and it won’t need to carry out new studies. Shares of MAPP are down 0.07% to $13.75.
Protalix BioTherapeutics Inc.(NYSEAMEX:PLX) slid 3.88% to $5.95 after analyst at Wells Fargo downgraded the stock downgraded to Market Perform, citing the CHMP’s rejection of Elelyso – despite the drug’s favorable benefits – in deference to Shire’s Orphan exclusivity status for Vpriv. The firm also lowers its price range to $6 – $8 from $9 – $11.
Fidelity National Information Services(NYSE:FIS) agrees to sell its Healthcare Benefit Solutions business to Lightyear Capital for $335M. FIS expects the deal to cut its adjusted Q2 EPS from continuing operations by $0.02 and FY EPS by up to $0.07. Shares of FIS are down 1.74% to $32.68 on above average volume. Fidelity National Information Services, Inc. (FIS) is a global provider of banking and payments technologies. The Company operates in four segments: Financial Solutions Group (FSG), Payment Solutions Group (PSG), International Solutions Group (ISG) and Corporate and Other Segment.
Lexicon Pharmaceuticals, Inc.(NASDAQ:LXRX) surged 2.10% to $1.96 as the company’s LX4211 oral drug for type 2 diabetes performed well along with metformin in a Phase 2b trial, lowering average blood glucose levels vs. a placebo. Lexicon aims to conduct phase a 3 study in H1 2013.
The FDA asks for more information from Bristol Myers Squibb Co.(NYSE:BMY) and Pfizer (PFE -2.6%) about their new-drug application for Eliquis, which helps prevent strokes in patients with nonvalvular atrial fibrillation. The FDA wants an update on data management and verification from a study of the treatment, although the agency hasn’t asked for a new trial. Shares of BMY are down 4.02% to $33.94 and shares of PFE lost 1.43% to $22.40 on high volume.