Sector Update: Healthcare; Cardiome Signs Deal for BRINAVESS, Nordion Buyer Sterigenics Ups Offer

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Healthcare stocks were mixed in afternoon trading, with the S&P/TSX Healthcare index down 1.1%.

Nordion (NDN.TO): +6.3%

Cardiome Pharma (COM.TO): -1.3%


Aeterna Zentaris (AEZ.TO): +1.6%

Valeant Pharmaceuticals (VRX.TO): -0.4%

Oncolytics Biotech (ONC.TO): -3.1%

In corporate news, Cardiome Pharma said its affiliate has signed a commercialization agreement with UDG Healthcare for BRINAVESS for the Irish market. Financial terms weren't disclosed. As agreed, UDG will fulfill orders and distribute BRINAVESS (vernakalant intravenous) in Ireland for 3 years.

Also, Aeterna Zentaris has selected Charleston, South Carolina as its new location for its North American business and global commercial operations. President and CEO David Dodd said: "Establishing our North American business and global commercial activities here is part of our strategic plan not only for the launch of MACRILEN in the United States...but also for our future commercial opportunities."

Lastly, Nordion on Monday said that the health science company's buyer Sterigenics increased the cash consideration to US$12.25 per share for its issued and outstanding common shares. As previously announced, the original offer was US$11.75 per share. The total transaction is now valued at approximately US$758 million. The board of directors of Nordion determined that the transaction, including the amendment, is in the best interests of Nordion.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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