Healthcare shares are higher in pre-market. Pluristem
) is up 8.4% at $3.49 after the FDA has lifted the clinical hold
previously placed on the company's U.S. Phase II Intermittent
) study on June 4.
In its letter to Pluristem, the FDA indicated Pluristem had
satisfactorily addressed all the clinical hold issues and the
company may proceed with the study.
And, Teva Pharmaceutical Industries Ltd. (
) and Cancer Research Technology Ltd., Cancer Research UK's
technology development arm, have signed a multi-project alliance
agreement to research and develop cancer drugs that modulate DNA
damage and repair response processes in cancer cells.
The alliance will span the drug discovery process - from new
target validation - proving a protein's importance as a therapeutic
target, though to lead optimization - synthesizing compounds for
further development as potential drugs. TEVA slipped $0.08 cents to
$38.26 in pre-market trade.
Finally, Chemtura (
) is flat in pre-market trade after it said it will be implementing
a price increase for Diphenylamine in all packages by $0.10 per
kilo, effective Sept. 15, 2013, or as contracts allow. The price
revision came as a compensation for continuous increases in raw
material and manufacturing costs.
Additionally, the company's business unit Petroleum Additives
declared a price hike for its Naugalube ADPA products including
Naugalube 438L, Naugalube 640, Naugalube 680 and Naugalube 750 by
$0.50 per kilo, effective Sept. 15, 2013, or as per the contracts.
This price increase is also a compensatory action against the cost
increases. Prices for its natural fatty acid-based lubricant
products were also increased by up to 20%, effective Oct. 1, 2013,
or as contracts allow. This price hike resulted from a global
supply and demand imbalance that led to an escalation of raw
material costs required to manufacture the lubricants.
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