Furiex Pharmaceuticals Leads Healthcare Stocks (FURX, BMY, AZN, ELN, AMLN)
Furiex Pharmaceuticals Inc (NASDAQ:FURX) is one of the top losers, declined 21.63% to $15.63.The stock opened at $14.24. The Company confirmed that Takeda Pharmaceutical Company Limited issued a news release reporting that Takeda has received a complete response letter from the FDA regarding its new drug applications for alogliptin and the fixed-dose combination therapy alogliptin and pioglitazone.
Bristol Myers Squibb Co (NYSE:BMY) slipped 0.99% to $33.95 in the early trading hours. The Company posted first quarter profit of $1.1 billion or 64 cents per share compared to $986 million or 57 cents per share in the prior year period. Gross profit margin was 75.2% versus 73.2% in the prior year period. Sales increased 5% to $5.25 billion. U.S. sales rose 6% while non-U.S. sales were up 2%.
AstraZeneca plc (ADR) (NYSE:AZN) went down 5.49% to $43.39. AstraZeneca Plc and the Medicines Co agreed to collaborate on drugs for acute ischemic heart disease. AstraZeneca has acquired Ardea Biosciences for $1.26 billion.
Elan Corporation plc (ADR) (NYSE:ELN) moved down 0.92% to $14.02 after the Company announced first quarter results. Total revenue increased 17% to $288.4 million due to 14% growth in global in-market net sales of Tysabri. Adjusted EBITDA from continuing operations increased 31% to $46.3 million. Net loss from continuing operations was $31.8 million compared to a net loss from continuing operations of $27.7 million in the first quarter oof 2011.
Amylin Pharmaceuticals Inc (NASDAQ:AMLN) decreased 1.91% to $25.70 after the Company announced first quarter results. Total revenue was $153.7 million. Non-GAAP operating loss was $30.1 million compared to $3.1 million in the first quarter of 2011. The increase in operating loss was due to investments to support the U.S. launch of BYDUREON(TM).