BRIEFCASE.Byline: - Staff and Wire Reports Patent for Lipitor upheld by court NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - Pfizer Inc. won a crucial court ruling Friday that will allow it to exclusively sell the top-selling drug worldwide, the cholesterol-lowering drug cholesterol-lowering drug Therapeutics Any of a family of agents that ↓ serum cholesterol; the most cost-effective agents for lowering LDL-C are nicotinic acid and lovastatin; the most efficient for ↑ HDL-C are nicotinic acid and gemfibrozil Lipitor, until 2011. Shares of Pfizer, the world's largest drug company, soared more than 11 percent on the news. District Judge Joseph J. Farnan Jr. ruled in Delaware federal court that Indian pharmaceutical company Ranbaxy Laboratories Ranbaxy Laboratories Limited is an Indian company incorporated in 1961. It is India's largest pharmaceutical company. It exports its products to 125 countries with ground operations in 46 and manufacturing facilities in seven countries. Ltd.'s generic version of Lipitor infringes on two Pfizer patents. He said the New Delhi-based company failed to prove Pfizer's patents were invalid or unenforceable. The ruling heads off the chance that Ranbaxy will be able to launch a cheaper version of Lipitor before Pfizer's patents expire in 2010 and 2011. Acquisition spurs Animas stocks NEW BRUNSWICK New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. , N.J. - Shares of insulin pump insulin pump n. A portable device for people with diabetes that injects insulin at programmed intervals in order to regulate blood sugar levels. maker Animas Corp. soared more than 30 percent Friday after health care conglomerate Johnson & Johnson said it had agreed to acquire the company for about $518 million to capitalize on the growing demand for diabetes treatment. The acquisition will give Johnson & Johnson immediate entry in the fast- growing insulin delivery pump market, the company said. ``We're always looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. opportunities,'' J&J spokesman Marc Monseau said. ``We have a long-term commitment to the treatment of diabetes, and Animas represents the next major building block in our strategy.'' Once the acquisition closes, Animas, based in West Chester, Pa., will operate as a stand-alone entity under LifeScan Inc., a J&J subsidiary that sells blood glucose monitoring blood glucose monitoring Sugar monitoring Lab medicine The periodic testing of serum glucose in Pts known to have DM. See Bedside glucose monitoring, Beta cell implants, Diabetes, Glucometer, Glycosylated hemoglobin, Non-Invasive glucose monitoring. systems. Shares of Animas rose $5.83, or 32 percent, to close at $24.03 in trading on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. , while J&J shares rose 70 cents, or 1.2 percent, to $60.86 on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . RadioShack loses on earnings news FORT WORTH - Shares of RadioShack Corp. fell more than 6 percent Friday after the company warned it would miss its annual earnings forecast because of weaker than expected sales of wireless devices, batteries and related accessories. Fort Worth-based RadioShack, one of the nation's largest electronics retailers, said it would not meet its fiscal 2005 target of $2.14 to $2.24 per share, which the company revised during its third-quarter earnings report. Company shares dropped $1.53, or 6.5 percent, to close at $22.19 on the New York Stock Exchange. The company maintained a free cash flow forecast of $80 million to $100 million. Trade gap shows tiny improvement WASHINGTON - America's deficit in the broadest measure of international trade showed a slight improvement in the July-September quarter, although it was still at the third highest level in history. The Commerce Department reported that the deficit in the U.S. current account totaled $195.8 billion in the third quarter. That was down 1 percent from the deficit in the April-June quarter of $197.8 billion, which had been a 0.4 percent improvement from the record deficit of $198.7 billion set in the first three months of the year. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion