Dec. 1, 2015, 6:48 AM
- Taking direct aim at Martin Shkreli's Turing Pharmaceuticals, Express Scripts (NASDAQ:ESRX) and Imprimis Pharmaceuticals (NASDAQ:IMMY) partner up to offer patients a low-cost alternative to Turing's $750-per-pill Daraprim (pyrimethamine).
- Imprimis is offering a compounded oral formulation of pyrimethamine and leucovorin (a form of folic acid) for $1 per capsule for people whose pharmacy benefit is managed by Express Scripts. Prescriptions will be processed starting this week.
- Mr. Shkreli earned pariah status in the pharmaceutical world with his aggressive price hike of Daraprim. He bought the rights to the 60-year old drug for $55M from Impax Laboratories (NASDAQ:IPXL) and then immediately raised the price from ~$1 per pill to $750 per pill.
- IMMY is up 21% premarket on light volume.
- Previously: Imprimis Pharma fills the Daraprim price void with low cost formulation; shares up 26% premarket (Oct. 23)
- Previously: Turing's Shkreli bows to pressure and drops price of Daraprim (Sept. 23)
Oct. 23, 2015, 9:19 AM
- Thinly traded nano cap Imprimis Pharmaceuticals (NASDAQ:IMMY) announces the availability of a customizable compounded formulation of pyrimethamine and leucovorin for physicians who are prescribing Daraprim. Its offering, available in oral capsules, starts as low as $99 for a 100-count bottle ($0.99 per capsule).
- Daraprim (pyrimethamine), supplied by Martin Shkreli's Turing Pharmaceuticals LLC, is available at list price of $750 per tablet. Mr. Shkreli raised the price of the 60-year old drug from a list price of $13.50 per pill after he bought the rights from Impax Labs (NASDAQ:IPXL) in August for $55M. It was routinely available for ~$1 per pill until Turing bought it.
- Shares are up 26% premarket on increased volume.
Sep. 8, 2015, 12:57 PM
- The market's up move notwithstanding, shares of Impax Laboratories (IPXL +11.6%) head north on almost double normal volume in response to its announcement that it has successfully addressed all the issues cited in the FDA's May 2011 warning letter related to its Hayward, CA manufacturing facility. The regulator's written confirmation that all items have been adequately addressed followed its re-inspection of the Hayward site last year.
- The company intends to accelerate certain spending initiatives during the remainder of this year to prepare the site for product approvals and launches of new products produced there.
May 11, 2015, 5:40 PM
Jan. 8, 2015, 3:56 PM
- The FDA approves Impax Pharmaceuticals' (IPXL +11.7%) Rytary (cardidopa/levodopa extended release) for the treatment of Parkinson's disease, post-encephalitic parkinsonism and parkinsonism that may follow carbon monoxide intoxication and/or manganese intoxication.
- The company resubmitted its NDA in April after receiving a CRL in January pertaining to manufacturing issues.
- Previously: Impax files Parkinson's drug (April 11, 2014)
Oct. 9, 2014, 12:46 PM
Jul. 29, 2014, 3:53 PM
- Shares of Impax Laboratories (IPXL -14.6%) plunge on a 7x surge in volume after an FDA inspection of its Taiwan manufacturing facility. The site makes 12 products for U.S. distribution and will produce Ryatary, the firm's drug candidate for Parkinson's disease.
- The inspection notes contain numerous references to GMP violations. Investors perceive that the deficiencies could jeopardize the company's product supply.
Jul. 29, 2014, 12:47 PM
Jan. 7, 2014, 9:58 AM
- BofA upgrades Perrigo (PRGO +1.2%) to Buy from Neutral. RBC starts the shares as a Top Pick, with a $187 price target.
- BofA upgrades Becton Dickinson (BDX +0.8%) to Neutral from Underperform.
- RBC upgrades Johnson & Johnson (JNJ +1.6%) to Outperform from Sector Perform. Price target is $104.
- Citi upgrades Varian Medical (VAR +1.6%) to Neutral from Sell.
- Roth starts ANI Pharma (ANIP +9.5%) at Buy. Price target is $27.
- RBC starts Teva (TEVA +0.1%) at Sector Perform. Price target is $39.
- RBC starts AcelRx (ACRX +2.5%) at Outperform. Price target is $15.
- RBC starts Mylan (MYL +2.3%) at Outperform. Price target is $50.
- RBC starts Allergan (AGN +1.3%) at Outperform. Price target is $131.
- RBC starts Impax Labs (IPXL +0.2%) at Sector Perform. Price target is $25.
Oct. 9, 2013, 4:57 PM
- Acura Pharmaceuticals (ACUR) +11.8% AH after announcing a settlement of patent litigation with Par Pharmaceutical (PRX) and Impax Labs (IPXL) over the pain drug Oxecta.
- According to the terms, PRX may launch its generic Oxecta product in the U.S., through the grant of a non-exclusive license which requires it to pay ACUR royalties in the range of 10%-15% of PRX's net profits from the sale.
- IPXL may launch its generic Oxecta product in the U.S. through the grant of a non-exclusive, royalty-free license.
Jun. 25, 2013, 9:32 AM
Impax Laboratories (IPXL) CEO Larry Hsu plans to retire, although he'll remain in his position, and as a board member, until a replacement is hired. Investors seem to be pleased as shares rise 6.1% at the open. (PR)| Jun. 25, 2013, 9:32 AM
May 10, 2013, 3:36 PM
Mar. 5, 2013, 12:55 PM
Mar. 5, 2013, 9:10 AM
Mar. 4, 2013, 6:30 PM
Impax Laboratories (IPXL) gets hammered after FDA inspectors say they've found continuing problems at the company's Hayward, California manufacturing facility that may affect new and pending drug applications. Issues the agency found include problems related to the testing and evaluation processes for its Parkinson's drug candidate Rytary, as well as other products. Inspectors also said the company failed to identify the cause of broken tablets of its anti-inflammatory drug Carprofen. Shares -18.8% AH.| Mar. 4, 2013, 6:30 PM | 2 Comments
Mar. 4, 2013, 5:39 PM