ACT Opens Wallet, ADHD Craters, CMRX Focuses On Ebola, REGN Gets FDA Nod

(RTTNews) - Actavis plc (ACT) has loosened its purse strings yet again - this time to acquire antibiotics maker Durata Therapeutics Inc. (DRTX).

Under the terms of the agreement, Actavis will commence the cash tender offer to purchase all of the outstanding shares of Durata common stock for $23.00 per share in cash, or a total value of $675 million, plus CVRs (contingent value rights) of up to an additional $5.00 per share in the event certain developmental or commercial milestones are met.

Actavis acquired Forest Laboratories Inc. for roughly $25 billion in an equity and cash transaction in February of this year. The company acquired Silom Medical Co., a privately held generic pharmaceutical company focused on developing and marketing therapies in Thailand, for approximately $100 million in cash in April of 2014.

ACT closed Monday's trading at $243.95, down 0.86%.

Shares of Alcobra Ltd. (ADHD) got pummeled on Monday, losing more than 56% of their value, following topline results from a phase III study of the company's drug candidate MDX in adults with Attention Deficit Hyperactivity Disorder, or ADHD.

According to the company, the phase III trial of MDX demonstrated a statistically significant improvement in ADHD symptoms compared to placebo, but after the exclusion of four subjects with extreme placebo responses.

The company looks forward to completing the full analysis on the secondary endpoints in the study and reporting the complete data set in the near future.

ADHD touched a new low of $5.88 on Monday before closing the day's trading at $6.12, down 56.63%.

Chimerix Inc. (CMRX) announced that its drug candidate Brincidofovir has been provided for potential use in patients with Ebola virus disease upon requests by the treating physicians.

The company also announced that Emergency Investigational New Drug Applications (EIND) were granted by the FDA.

According to the World Health Organization, as of October 1, 2014, the overall death toll in the current Ebola outbreak is 3,439 out of a total of 7,492 cases.

CMRX closed Monday's trading at $31.47, up 4.69%. In after-hours, the stock gained another 1.37% to $31.90.

Foamix Pharmaceuticals Ltd. (FOMX) has initiated a phase II trial with FDX104, its topical formulation of doxycycline, to prevent rash in cancer patients taking epidermal growth factor receptor inhibitors.

The phase II trial will enroll 24 cancer patients and will evaluate the safety and tolerability of FDX104 adjunct to either of the cancer medications Erbitux or Vectibix.

FOMX closed Monday's trading down 2.23% at $5.27. In after-hours, the stock gained 3.98% to 5.48.

Progenics Pharmaceuticals Inc. (PGNX) has received a $40 million milestone payment from its worldwide collaboration partner, Salix Pharmaceuticals Ltd. (SLXP), following expanded approval for RELISTOR Subcutaneous Injection by FDA last week.

Last week, the FDA approved RELISTOR Subcutaneous Injection for opioid-induced constipation in patients with chronic non-cancer pain. The drug was first approved in the United States in 2008 for the treatment of opioid-induced constipation in patients with advanced illness who are receiving palliative care, when response to laxative therapy has not been sufficient.

Under the 2011 Salix-Progenics collaboration, Progenics is also entitled to up to $50 million upon approval of an oral RELISTOR product in the U.S. Salix is also obligated to pay commercialization milestones of up to $200 million.

Progenics derives royalty income from Salix primarily based on Relistor net sales. The drug generated net sales of $39.4 million in 2013, up from 33.2 million in 2012. Progenics' royalty income in 2013 was $5.92 million compared to $4.96 million in 2012.

PGNX closed Monday's trading at $4.92, down 5.29%.

Regeneron Pharmaceuticals Inc.'s (REGN) eye drug EYLEA has received FDA approval for yet another indication namely for the treatment of macular edema following retinal vein occlusion.

EYLEA is already approved in the U.S. for the treatment of patients with wet age-related macular degeneration, macular edema following retinal vein occlusion and diabetic macular edema (DME).

In the EU and other countries, EYLEA is approved for the treatment of wet AMD, Macular Edema following CRVO, and DME.

The net sales of EYLEA in the United States were $1.409 billion in 2013 compared to $838 million in 2012. Bayer HealthCare LLC commercializes EYLEA outside the United States, and net sales of the drug outside of the United States were $472 million last year.

REGN closed Monday's trading at $359.19, down 0.67%. In after-hours, the stock was up 1.90% at $366.