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FDA grants Orphan Drug Designation to YM BioSciences' JAK1/2 inhibitor

YM BioSciences Inc., announced that the Office of Orphan Products Development of the U.S. Food and Drug Administration has granted Orphan Drug Designation to the Company's highly-selective JAK1/2 inhibitor, CYT387, for the treatment of myelofibrosis, a chronic debilitating unmet medical need, in which a patient's bone marrow is replaced by scar tissue, and for which treatment options are limited or unsatisfactory.

10 Aug 2010

Study suggests reimbursements can address inappropriate antibiotic usage

Antibiotic use appears to have increased among older adults whose prescription drug coverage improved as a result of enrolling in Medicare Part D, with the largest increases for broad-spectrum, newer and more expensive drugs, according to a report in the August 9/23 issue of Archives of Internal Medicine, one of the JAMA/Archives journals.

10 Aug 2010

Measurable medical errors cost U.S. economy $19.5 billion in 2008: Report

Findings from a new study released today estimate that measurable medical errors cost the U.S. economy $19.5 billion in 2008. Commissioned by the Society of Actuaries (SOA) and completed by consultants with Milliman, Inc., the report used claims data to provide an actuarially sound measurement of costs for avoidable medical injuries. Of the approximately $80 billion in costs associated with medical injuries, around 25 percent were the result of avoidable medical errors.

9 Aug 2010

FDA accepts Salix's XIFAXAN550 sNDA for Priority Review

Salix Pharmaceuticals, Ltd. today announced the U.S. Food and Drug Administration (FDA) has accepted for Priority Review the Company's efficacy supplement to the New Drug Application (NDA) for XIFAXAN® (rifaximin) 550 mg tablets for the proposed indication of treatment of non-constipation irritable bowel syndrome (Non-C IBS) and IBS-related bloating.

9 Aug 2010

Clinical Data first-quarter gross revenue increases 52% to $6.2 million

Clinical Data, Inc. today announced operational and financial results for the first quarter ended June 30, 2010, noting key accomplishments including the acceptance of the Company's new drug application (NDA) for vilazodone by the U.S. Food and Drug Administration (FDA) and the successful completion of a public offering .

9 Aug 2010

Rite Aid announces proposed $650 million senior secured notes offering

Rite Aid Corporation announced today its intention to offer $650 million aggregate principal amount of senior secured notes due 2020. The notes will be unsecured, unsubordinated obligations of Rite Aid Corporation and will be guaranteed by substantially all of Rite Aid's subsidiaries. The guarantees will be secured on a senior lien basis.

9 Aug 2010

WellCare Health Plans reaches agreement on material terms of settlement

WellCare Health Plans, Inc. announced today that it has reached an agreement on the material terms of a settlement which will resolve the claims asserted against the Company in the previously disclosed putative securities class action consolidated complaint filed against the Company.

9 Aug 2010

WellCare reports $128.9 million net loss for second-quarter 2010

WellCare Health Plans, Inc. today reported results for the three and six months ended June 30, 2010. As determined under generally accepted accounting principles, the Company reported a second quarter 2010 net loss of $128.9 million, or $3.05 per diluted share, compared with net income of $37.0 million, or $0.88 per diluted share, for the prior year period.

9 Aug 2010

Orexigen second-quarter net loss decreases to $11.9 million

Orexigen® Therapeutics, Inc., a biopharmaceutical company focused on the treatment of obesity, today announced financial results for the second quarter of 2010. For the quarter ended June 30, 2010, Orexigen reported a net loss of $11.9 million, or $0.25 per share attributable to common stockholders, as compared to a net loss of $17.8 million, or $0.51 per share attributable to common stockholders, for the second quarter of 2009.

7 Aug 2010

Alkermes reports $42.3 million revenue for first-quarter fiscal 2011

Alkermes, Inc. today reported financial results for its first quarter of fiscal 2011, which ended on June 30, 2010.

7 Aug 2010

AVANIR Pharmaceuticals reports net loss of $5.7M for third-quarter fiscal 2010

AVANIR Pharmaceuticals, Inc. today reported unaudited financial results for the three and nine months ended June 30, 2010.

7 Aug 2010

Biovail second-quarter total revenues increase 23% to $238.8 million

Biovail Corporation today announced financial results for the three-month and six-month periods ended June 30, 2010.

5 Aug 2010

Alexza to raise $18.0M in registered direct offering

Alexza Pharmaceuticals, Inc. today announced that it has entered into definitive agreements with a select group of institutional investors to raise approximately $18.0 million in gross proceeds in a registered direct offering through the sale of common stock and warrants. The Company agreed to sell a total of 6,685,183 units, each unit consisting of (i) one share of common stock and (ii) one warrant to purchase 0.5 of a share of common stock, at a purchase price of $2.70 per unit.

5 Aug 2010

Catalyst Health Solutions second-quarter 2010 net income up 21%

Catalyst Health Solutions, Inc., a pharmacy benefit management company, today announced its financial results for the quarter ended June 30, 2010. The Company reported quarterly net income of $19.5 million, up 21% compared to $16.2 million in the prior year. Earnings per diluted share increased by $0.07 to $0.44 from $0.37. Revenue for the quarter ended June 30, 2010, grew by 24% to $890.1 million from $717.6 million in the prior year.

5 Aug 2010

Andy Griffith Medicare ad prompts showdown with GOP

Veteran television star Andy Griffith appeared in a new commercial for Medicare that promotes health law changes the administration says should help seniors, such as free wellness visits and lower drug costs, U.S. News & World Report writes. "The commercial, launched on the 45th anniversary of Medicare last week, is part of a public education campaign about changes to Medicare benefits. Retirees' knowledge about the health reform law's impact on Medicare remains mixed.

5 Aug 2010

USN-DAAT to collect unused, expired prescription and OTC drugs from public

Following the overwhelming success of Southern Nevada's first Operation Medicine Cabinet event in February, University of Southern Nevada's Drug Abuse Awareness team and a coalition of local organizations have come together for a second event to collect unused and expired prescription and over-the-counter drugs from the public.

4 Aug 2010

Savient second-quarter net loss decreases to $5.0 million

Savient Pharmaceuticals, Inc. reported financial results for the three and six months ended June 30, 2010. The net loss for the second quarter of 2010 was $5.0 million, or $0.07 per basic and diluted share, on total revenues of $1.0 million, compared with a net loss of $54.8 million, or $0.92 per basic and diluted share on total revenues of $0.7 million for the second quarter of 2009.

4 Aug 2010

Contrave added to diet and exercise regimen can induce significant weight loss

Orexigen Therapeutics, Inc. announced the online publication of results from its COR-BMOD trial of Contrave (naltrexone SR/bupropion SR) in the journal Obesity. The COR-BMOD trial evaluated intensive behavior modification plus Contrave32 (32mg naltrexone sustained release (SR)/360mg bupropion SR) compared to BMOD plus placebo, in 793 overweight or obese patients.

4 Aug 2010

Tips for caregivers to better manage their loved one's health care

According to the National Alliance for Caregiving, more than 65 million people in the United States serve as informal caregivers, typically for family members. This equates to more than one out of every four people serving as unpaid caregivers.

2 Aug 2010

Humana second quarter consolidated revenues rises 10% to $8.65 billion

Humana Inc. today reported diluted earnings per common share (EPS) for the quarter ended June 30, 2010 (2Q10) of $2.00, above management's guidance of $1.65 to $1.70. The 2Q10 results compared to EPS of $1.67 for the quarter ended June 30, 2009 (2Q09). For the six months ended June 30, 2010 (1H10) the company reported $3.52 in EPS compared to $2.89 for the six months ended June 30, 2009 (1H09).

2 Aug 2010