Endo will puchase Zogenix's DosePro finished goods inventory for $5M and will support the latter's continued manufacturing of the product with a working capital loan of $7M.
The product was launched in January 2010. Net sales in 2013 were $31.7M.
Endo obtains global rights to the product and assumes responsibility for royalty payments to Aradigm on sales of Sumavel DosePro. Zogenix retains ownership of the technology, all DosePro manufacturing assets and responsibility for the supply chain.
The FDA approves Roche's (RHHBY -0.2%) cobas HPV molecular diagnostic assay for use as a stand-alone screening test for HPV. Previously, the product was cleared only for use in conjunction with or as a follow-on diagnostic to a PAP test for women at least 30 years old.
The clinical trial also showed that utilizing the automated cobas HPV test as a first-line diagnostic and then reflexing to a cervical cytology (PAP) test would enable clinicians to detect more disease and eliminate unnecessary follow-up procedures.
Nano cap Cesca Therapeutics (KOOL +26.2%) shows bullish price action with today's up move on a 10x surge in volume. It represents a successful retest of the January 21 breakout when prices popped 111% on massive turnover of 32.9M shares after the company announced positive Phase 1b clinical trial results for its stem cell therapy for critical limb ischemia.
Despite its disagreement with the DOJ over alleged misconduct, Amedisys (AMED +0.3%) finalizes the settlement by agreeing to pay $150M plus interest. $115M plus interest is due by May 2, 2014 and $35M plus interest is due by October 23, 2014.
The company charged the settlement costs in Q3 2013.
It must also pay ~$3.9M in attorneys fees and expenses of various qui tam relators.
The investigation focused on Medicare reimbursement for home health services by certain Amedisys care centers from January 1, 2008 through December 31, 2010.
The settlement also resolves a Stark Law issue regarding care coordination services provided to a physician practice group in exchange for compensation that was inconsistent with the fair market value of the services during the period April 1, 2008 - April 30, 2012.