Top Healthcare stocks:
Healthcare shares were generally flat to lower in pre-market
trade on Friday.
In healthcare stocks news, drug retailer Prestige Brands (
) Friday said it has signed a definitive agreement to acquire
Insight Pharmaceuticals, a distributor of feminine care and other
over-the-counter healthcare products, for $750 million in cash.
The transaction, along with the previously announced Hydralyte
deal, is expected to bring in $800 million in pro forma revenues
and $300 million in adjusted EBITDA.
PBH was flat in
on Friday and closed at $27.31 Thursday.
And, medical equipment manufacturer Covidien (
) on Friday reported GAAP net income of $441 million, or $0.97 per
diluted share, up from last year's GAAP net income of $439 million,
or $0.80 per diluted share. On an adjusted basis, net income was
$435 million, or $0.96 per diluted share, versus the Capital IQ
consensus of $0.95. Net sales increased to $2.6 billion from $2.53
billion, in line with Street view.
COV was flat in pre-market trading on Friday and closed at
Finally, ImmunoGen (
) reported its fiscal Q3 net loss widened, revenue fell and said it
cut its full year guidance.
The biopharmaceutical company reported a net loss of $37.5
million, or $0.44 per basic and diluted share, compared to a net
loss of $1.4 million, or $0.02 per basic and diluted share.
Included in the current period is a $0.15 per share non-cash
expense related to the collaboration recently established with
Analysts expected a loss of $0.27.
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