Posts Tagged ‘endp’

AMMD gets bought, LVLT lively, QUIK drops quickly

Monday, April 11th, 2011

American Medical Systems Holdings Inc. (Nasdaq: AMMD) shares gained 32.1% to $29.50 on volumes topping 17 million shares, in contrast to a daily average of less than one million. This, after Endo Pharmaceuticals Holdings Inc. (Nasdaq: ENDP) said it would buy the urological medical-devices supplier for about $2.6 billion.

Level 3 Communications Inc. (Nasdaq: LVLT) shares tumbled off the shelves early Monday, trading in 120 million in all, or six times the business it would normally do in a day. Prices for the stock forged ahead 14.9% to $1.66, on word the company was set to buy Global Crossing for $2 billion.

QuickLogic Corp. (Nasdaq: QUIK) shares fell 16.8% to $4.05, on volume of 753,000 or nearly double its full-day average, after the semiconductor company late Friday lowered its first-quarter revenue outlook.

Penwest Pharmaceuticals Co. (PPCO) – Buzz Stock of the Day

Tuesday, June 8th, 2010

Shares of drug maker, Penwest Pharmaceuticals Co. (Nasdaq: PPCO) were up as much as 21 percent in morning trading on Tuesday after the company announced that it settled a patent litigation with Impax Laboratories, Inc. (Nasdaq: IPXL) over the production and sale of a generic version of the pain drug Opana, which is jointly developed by Penwest and Endo Pharmaceuticals Holdings, Inc. (Nasdaq: ENDP).

Penwest shares rose as high as $3.38, up from Monday’s closing price of $2.78 per share.

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Penwest and Endo have agreed to grant Impax a license to sell the copycat on Jan. 1, 2013. Impax will have 180 days of marketing exclusivity for 5 mg, 10 mg, 20 mg, 30 mg and 40 mg tablets of the drug, Reuters reported. Impax could also get up to $40 million in milestones from Endo for an Impax brand drug the two companies will promoted together outside the field of neurology. Further terms of the settlement were not disclosed.

Endo and Penwest also settled a similar patent litigation with Sandoz Inc, a unit of Swiss drugmaker Novartis AG (NOVN.VX), granting Sandoz a license to sell the generic of the drug on Sept. 15, 2012.