Healthcare stocks were mixed in afternoon trading, with the
S&P/TSX Healthcare index down 2.2%.
Valeant Pharmaceuticals (VRX.TO): -4.1%
Concordia Healthcare (CXR.TO): +0.9%
AEterna Zentaris (AEZ.TO): +1.6%
Catamaran (CCT.TO): -2.8%
Oncolytics Biotech (ONC.TO): +0.7%
In corporate news, Concordia Healthcare has begun the third
phase of the clinical trial to treat a rare form of bile duct
cancer for which there currently is no acceptable therapy.
The specialty healthcare company is working with its Pinnacle
Biologics subsidiary will study the efficacy and safety of
photodynamic therapy with PHOTOFRIN (porfimer sodium) for injection
as treatment for unresectable advanced perihilar cholangiocarcinoma
Bismuth type III/IV.
PHOTOFRIN has received an FDA orphan drug designation to treat
Meanwhile, AEterna Zentaris has signed an agreement with ASCEND
Theapeutics for the two pharmaceutical firms to promote each
other's products. Under the terms of deal, expected to start in Q4
2014, Canada-based AEterna Zentaris will use its newly established
commercial structure to market, in specific U.S. territories,
ASCEND's EstroGel, an FDA approved estrogen replacement
ASCEND would market, in specific U.S. territories, Macrilen,
AEterna Zentaris' product for use in the evaluation of adult
growth-hormone deficiency. The FDA is currently reviewing a New
Drug Application for Macrilen. AEterna Zentaris anticipates using
approximately 20 sales representatives to cover its assigned U.S.
specific territories, while ASCEND will use its existing sales
force of over 35 sales representatives to cover its territories.
Overall, more than 50 sales representatives are expected to promote
both EstroGel and Macrilen.