Watson has high hopes for Stellar’s Uracyst drug

Watson Pharmaceuticals (NYSE:WPI) CEO, Paul Bisaro, painted a rosy picture of how Stellar Pharmaceuticals’ (OTCBB: SLXCF) Uracyst drug, which is indicated to treat interstitial cystitis, fills out its urology strategy. According to a presentation at a healthcare conference sponsored by Barclays Capital, Mr. Bisaro said that Watson’s strategy is based on the 10 most common [...]

MDS buys back 44.1% of stock outstanding

MDS (TSX:MDS; NYSE:MDZ) has released results of its modified Dutch auction and will purchase for cancellation 52.9 million shares at a price of $8.50 (U.S.) each or $450 million. The shares represent 44.1% of the common stock currently outstanding, which will reduce the company’s shares outstanding to about 67.2 million.  RBC Capital Markets acted as [...]

Isotechnika has a powerhouse franchise in voclosporin

Dr. Robert Foster still longs to make Isotechnika’s (TSX: ISA) lead drug, voclosporin, the standard of care in the field of preventing organ rejection in transplantation surgery. This may seem somewhat unusual, since voclosporin is currently being considered by regulators in North America and Europe to treat uveitis, a chronic inflammation of the eye that [...]

MDS holder sells 6 million shares

After the market close on Friday, ValueAct Capital Master Fund LP said it sold 6,026,300 common shares of MDS (TSX:MDS ; NYSE:MDZ) in open-market transactions on the New York and Toronto stock exchanges, cutting its stake to 17.1 million shares or 14.2%. The stock fell 41 cents to $8.35 on the TSX Friday and 32 [...]

Biovail acquires compounds to treat respiratory depression

Biovail (NYSE:BVF; TSX:BVF) has acquired certain ampakine compounds, including associated intellectual property, from Cortex Pharmaceuticals (NASDAQ:CORX) for use in the field of respiratory depression, a brain-mediated breathing disorder. The acquired assets include the Phase 2 compound CX717, preclinical compounds CX1763 and CX1942, and an injectable dosage form of CX1739. As part of the transaction, Biovail [...]

Health Canada accepts Cipher tramadol filing

Cipher Pharmaceuticals’ (TSX:DND) new drug submission to Health Canada for cip-tramadol ER, its extended-release formulation of tramadol, has been accepted for review. Cipher expects the review to be completed by early 2011. “The Canadian market for tramadol is strong and growing, with sales of approximately $50 million last year, a 30 per cent increase over [...]

Australia clears sale of new IMRIS devices

IMRIS (TSX:IM) has received clearance from Australia’s Therapeutic Goods Administration for the marketing of the company’s newest products, IMRISNV and IMRIScardio. IMRISNV and IMRIScardio are the first systems in the world to allow both MRI and X-ray angiography in a single suite without the need to transport the patient between modalities.  The devices have been [...]

Cormark raises QLT price target

On the heels of QLT (NASDAQ:QLTI; TSX:QLT) reaching a 52-week high of $5.45 (U.S.) on Wednesday, Cormark Securities raised its price target to $6.50 from $5.35, maintaining a “buy” rating on the stock. In a new report, analyst David Dean writes that QLT expects to report data this year from two clinical programs, which “do [...]

RBC ups Theratechnologies to buy

Citing a recent sell-off and upcoming milestones, RBC Capital Markets upgraded Theratechnologies (TSX:TH) to “outperform” from “sector perform,” but kept its price target unchanged at $6.50.  The shares finished at $5.09 on Wednesday after touching a 52-week high of $5.61 earlier this month. “Theratechnologiesis in the enviable position of having a number of important upcoming [...]

Novadaq gets second milestone from Intuitive

Novadaq Technologies (TSX:NDQ) has received a $1 million payment from Intuitive Surgical (NASDAQ:ISRG)  for achieving the second predefined milestone of their 2009 licence and development agreement. Under the agreement, Novadaq and Intuitive are working to integrate Novadaq’s proprietary SPY imaging technology into the 3D high definition imaging capabilities of Intuitive’s da Vinci surgical robotic system [...]

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