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PerkinElmer tops higher-than-expected profit. Kendle acquired, shares soar.
Below is a look at some of the headlines for companies that made news in the healthcare sector on May 05, 2011.
PerkinElmer Inc (NYSE:PKI) reported higher-than-expected first-quarter profit on as sales of environmental health products jumped 20 percent. The company raised its 2011 earnings forecast. Excluding items, PerkinElmer earned 34 cents per share, topping analysts' average expectations by 3 cents. For the full year, PerkinElmer now expects adjusted earnings of $1.62 to $1.67 per share, up from its prior view of $1.56 to $1.64 per share, excluding items. Analysts on average are looking for $1.61 per share. The company still expects 2011 revenue for the year to rise in the mid-single digit range.
PerkinElmer also announced the acquisition of Geospiza Inc, a small company that specializes in DNA analysis software.
Shares of Kendle International Inc. (Nasdaq:KNDL) soared today after the company announced that it will be acquired by INC Research, LLC for $15.25 per share cash or $232 million. INC Research is a therapeutically focused global contract research organization (CRO) privately held by Avista Capital Partners and Ontario Teachers' Pension Plan. Kendle is a leading global CRO with extensive expertise in Phase I-IV clinical development and more than 3,000 associates in 31 countries worldwide.
"Joining forces with INC Research is the right decision for our customers and shareholders. Combining our highly complementary assets will provide the scale and scope for the combined company to deliver outstanding global teams, therapeutic expertise and operational excellence for clinical trials of all sizes," said Kendle President and CEO, Stephen Cutler, PhD. "Because both companies are known for conducting high-quality clinical work and share a common culture based on excellent service delivery, we will be able to maintain a customer-centric focus on each individual project."
Shares of Kendle hit $15, up $5.50 or aprroximately 58%.
Access Plans, Inc. (OTCBB: APNC), a leading membership benefits marketing company, today announced that the Company will host an investor conference call to discuss its operating results for the second quarter and first half of FY2011 at 1:00 p.m. Eastern Time (EDT) on Friday, May 13, 2011.
AdCare Health Systems, Inc. (NYSE Amex: ADK), a nursing home and assisted living company, will hold a conference call on Tuesday, May 10, 2011 at 4:30 p.m. Eastern time to discuss results for the first quarter ended March 31, 2011.
Advanced Cell Technology, Inc. ("ACT"; OTCBB: ACTC), a leader in the field of regenerative medicine, announced today that interim chairman and CEO Gary Rabin will be presenting at the World Stem Cells & Regenerative Medicine Congress, May 9-11, in London.
Advanced Life Sciences Holdings, Inc. (OTCBB: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, announced today that it has suspended operations and terminated its staff due to its severe lack of liquidity.
ALR Technologies Inc. (OTCBB: ALRT) announces the signing of a Representation Agreement with Mantra Healthcare Solutions Inc. to market and sell the Health-e-Connect System ("HeC") effective June 1, 2011.
Anadys Pharmaceuticals, Inc. (Nasdaq:ANDS), a biopharmaceutical company dedicated to improving patient care by developing novel medicines for the treatment of hepatitis C, today reported its program highlights and financial results for the first quarter ended March 31, 2011.
Biodel Inc. (Nasdaq:BIOD) today reported financial results for the quarter ended March 31, 2011.
Boston Scientific Corporation (NYSE:BSX) today announced that it is offering a new warranty program in the U.S. that covers its cardiac resynchronization therapy defibrillator (CRT-D) devices and leads in the event of chronic phrenic nerve stimulation (PNS).
Caliper Life Sciences, Inc. (NASDAQ:CALP), a leading provider of tools and services for drug discovery and life sciences research for personalized medicine, will be hosting its Caliper Owners Group (COG 2011) meeting on May 17th and 18th.
Codexis, Inc. (NASDAQ:CDXS) today announced financial results for the first quarter ended March 31, 2011.
Cytori Therapeutics, Inc. (NASDAQ: CYTX) provides a quarterly update on its development pipeline and reports financial results for the first quarter of 2011.
DURECT Corporation (Nasdaq:DRRX) announced today financial results for the three months ended March 31, 2011.
Dyadic International, Inc. ("Dyadic") (OTC Pink: DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of enzyme and protein products for the bioenergy, industrial enzyme and biopharmaceutical industries, today announced financial results for the quarter ended March 31, 2011.
Given Imaging Ltd. (NASDAQ: GIVN) today announced the results of its annual shareholders' meeting which was held yesterday in Yoqneam, Israel.
Halozyme Therapeutics, Inc. (Nasdaq:HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix, today announced that management will be presenting at the Bank of America Merrill Lynch Health Care Conference in Las Vegas.
HeartWare International, Inc. (NASDAQ:HTWR; ASX: HIN), a leading innovator of less invasive, miniaturized circulatory support technologies that are revolutionizing the treatment of advanced heart failure, today announced revenues of $18.0 million for the first quarter ended March 31, 2011.
Image Sensing Systems, Inc. (NASDAQ:ISNS), announced today the results for its first quarter ended March 31, 2011.
Luminex Corporation (NASDAQ:LMNX) announced today that it has received CE marking for its new xTAG Gastrointestinal Pathogen Panel (GPP).
Mylan Inc. (Nasdaq:MYL) today announced that its subsidiary Mylan Pharmaceuticals Inc. has launched Oxycodone and Aspirin Tablets USP, 4.8355 mg/325 mg, based on an agreement with licensing partner Coastal Pharmaceuticals.
NeurogesX, Inc. (NASDAQ:NGSX), a biopharmaceutical company focused on developing and commercializing novel pain management therapies, announced today that Anthony DiTonno, President and Chief Executive Officer, is scheduled to present at the 10th Annual JMP Securities Research Conference, to be held May 9-11, 2011, in San Francisco, CA.
NuVasive, Inc. (NASDAQ: NUVA), a medical device company focused on developing minimally disruptive surgical products and procedures for the spine, announced today that the Company plans to present at two investor conferences in May.
Vanda Pharmaceuticals Inc. (Vanda) (NASDAQ:VNDA), a biopharmaceutical company focused on the development and commercialization of products for central nervous system disorders, today announced financial and operational results for the first quarter ended March 31, 2011.
Verenium Corporation (Nasdaq:VRNM), a leading industrial biotechnology company focused on the development and commercialization of high-performance enzymes, today announced that it will release 2011 first quarter financial results on Thursday, May 12, 2011 after market close.
VentriPoint Diagnostics Ltd. ("VentriPoint") (TSX VENTURE:VPT) (Pink Sheets:VPTDF) is pleased to announce that Dr. Richard Krasuski, Director of Adult Congenital Heart Disease Services at the world renowned Cleveland Clinic's Sydell and Arnold Miller Family Heart and Vascular Institute, has agreed to join the Company's Scientific Advisory Board.
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