Cardiome drug clears European committee

The Committee for Medicinal Products for Human Use of the European Medicines Agency has recommended marketing approval for Cardiome Pharma’s (TSX:COM; NASDAQ:CRME) vernakalant, an investigational intravenous formulation for the conversion of atrial fibrillation to normal heart rhythm in adults. Granting of marketing authorization by the European Commission is expected later this year and will apply [...]

Biotech’s new normal is search for efficiency

Coming out of a harrowing financial crisis and recession, the outlines of a “new normal” are starting to emerge in the general economy and biotech industry, Ernst & Young says in its global biotechnology report for 2010, Beyond Borders. On the surface, E&Y says it would appear that the worst is indeed over for biotech. [...]

Dundee reinstates buy on Cardiome

Reflecting new Phase 3 data from Cardiome Pharma (TSX:COM; NASDAQ:CRME) and Merck (NYSE:MRK) on Friday, Dundee Securities reinstated its “buy” rating on Cardiome, raising its 12-month price target to $10 from $8.  The stock closed at $8.24 on the TSX Friday. Analyst David Martin writes that he previously had the stock “under review,” pending the [...]

Cardiome and Merck release pivotal data for Brinavess IV

In a new Phase 3 study, Brinavess (vernakalant) intravenous, an investigational compound being developed in the European Union by Cardiome Pharma (NASDAQ: CRME; TSX: COM) and Merck (NYSE: MRK) to treat atrial fibrillation, was shown to be superior to amiodarone injection in converting patients’ heart rate from AF to sinus rhythm within 90 minutes of [...]

Cormark ups Cardiome price target

Cormark Securities has raised its price target on “buy-rated” Cardiome Pharma (TSX:COM; NASDAQ:CRME) to $10.50 from $7.50, citing a positive outlook from several catalysts expected this year.  The stock closed at $8.28 on Tuesday. According to analyst David Dean, those catalysts included European approval in mid-2010 of the IV version of Cardiome’s vernakalant drug to [...]