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RxNews Recap for Thursday 12-24-09

Below is a list of the healthcare sector companies that made news in the healthcare sector on Thursday, December 24, 2009. This list feature is meant to help investors keep tabs on the sector without having to scour through all the press releases.

Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) announced today that Teva-KOWA Pharma Co., Ltd., the Company's joint venture in Japan with KOWA Company, Ltd., has signed a definitive agreement to acquire a majority of the outstanding shares of Taisho Pharmaceutical Industries, Ltd.

NovaDel Pharma Inc. (OTCBB: NVDL) is pleased to announce that its common stock will begin trading on the Over-the-Counter Bulletin Board (“OTCBB”) on December 24, 2009.

China Kangtai Cactus Biotech Inc. (OTCBB: CKGT), a vertically integrated grower, developer, manufacturer and marketer of a variety of cactus-based products in China, announced today that the company expects to restate its previously filed annual report on Form 10-K for year 2008 to (1) correct errors relating to the accounting for deemed dividends from the sales of convertible preferred stock and warrants issued on March 21, 2008 and July 16, 2008 and (2) correct the non-accounting for the grant of 150,000 stock options to the company’s legal counsel on December 31, 2008 and also restate its quarterly reports on form 10-Q for the first three quarters of fiscal 2009.

Maxygen, Inc. (Nasdaq: MAXY), a biopharmaceutical company focused on the development of improved versions of protein drugs, today announced the preliminary results of its modified "Dutch Auction" tender offer, which expired at 5:00 p.m., New York City time, on December 23, 2009.

Mannatech, Incorporated (NASDAQ: MTEX), a global pioneer in the development of high-quality health, weight and fitness, and skin care solutions based on nutritional science, announced the resignation of Professor Robert Blattberg from its board of directors, effective December 21, 2009.

PPJ Enterprise (PPJ) (PINKSHEETS: PPJE), a leader in proprietary automated health care reimbursement cycle (all specialties), on line health information digital systems and practice information management digital system software for health care providers and general businesses worldwide, has announced that its subsidiary, Professional Billing Service (NYSEARCA:PBS) has secured three contracts (3) (as published on 11/6/2009) out of which two (2)pain management surgery center billing contracts and one (1) pain management physician billing contract in the greater Phoenix area.

Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) today announced that RiskMetrics Group's ISS Governance Services (RMG), a leading independent proxy advisory firm, recommended that shareholders of Taro Pharmaceutical Industries Ltd. (Pink Sheets: TAROF) vote against Taro's board of director nominees for election or re-election as directors, as well as the indemnification proposal for its proposed external directors, in the upcoming Annual General Meeting of Taro's shareholders scheduled for December 31, 2009.

MDRNA, Inc. (NASDAQ: MRNA), a leading RNAi-based drug discovery and development company, today announced the closing of a bridge loan pursuant to a Note and Warrant Purchase Agreement.

Disclosure: No positions