News Column

Forest Labs to be acquired by Actavis for $25 billion while Prana Biotech surges on drug results

February 18, 2014



Category: Baystreet Newswire

Company: Stock Publisher

ID: 412050

Date: Wednesday, February 19, 2014

Ticker: NYSE:FRX

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Forest Laboratories Inc. (NYSE: FRX) – For an in-depth report on Forest Laboratories Inc. follow: www.BullTrends.com/stockquote/FRX

Shares of Forest Laboratories Inc. closed up 27.52% on Tuesday and hit a new 52-week high of $93.50 during intra-day trading. The stock was one of the biggest winners on the NYSE after it was revealed that Actavis will acquire the company for $25 billion. The acquisition will catapult Actavis into the world's No. 15 drug maker. Actavis said it will pay $26.04 in cash and a third of an Actavis share for each Forest share. The total, per-share price of $89.48 is about 25 percent more than Forest's $71.39 closing price Friday.

Prana Biotechnology Limited (NASDAQ: PRAN) – For an in-depth report on Prana Biotechnology Limited follow: www.BullTrends.com/stockquote/PRAN

Shares skyrocketing 45% after it was reported that the company’s treatment for Huntington disease met its primary goals in Phase 2 tests. The stock traded over 25 million shares on Tuesday after it was announced that Prana’s drug, now known as PBT2, will enter a Phase 3 clinical trial that would allow it to be approved for treatment of the genetic neurological disorder that usually hits middle-age people with involuntary writhing movements.

Elite Pharmaceuticals, Inc. (OTCBB: ELTP) – For an in-depth report on Elite Pharmaceuticals, Inc. follow: www.BullTrends.com/stockquote/ELTP

Elite Pharmaceuticals soared to a new one year high of $0.46 on Tuesday after the company revealed successful results from a pilot bioequivalence study initiated in December 2013 for ELI-201, a twice-daily opioid abuse deterrent oxycodone product with abuse deterrent technology. Three different twice daily formulations developed by Elite were tested in the study. The study results demonstrate that all formulations in the study were bioequivalent to the reference drug based on pharmacokinetic measures including peak plasma concentration (Cmax) and area under the curve (AUC) for oxycodone blood plasma levels. The stock was one of the biggest gainers in the OTCBB market closing up 19% on about 10.7 million shares traded.

Worldwide Internet Inc. (OTC: WNTR) – For an in-depth report on Worldwide Internet Inc. follow: www.BullTrends.com/stockquote/WNTR

Shares of Worldwide Internet Inc. exploded on Tuesday closing up 96.55% on over 300,000 shares traded. The company announced that it has entered into a Letter of Intent with Hemp Market Watch. The parties will work together to develop an informational portal for the marijuana industry. The portal will provide updated information on the industry and track a portfolio of companies that are involved in providing goods and services. In addition the parties will work together to identify a diversified portfolio of potential investments in the marijuana industry.


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Source: ACCESSWIRE (Canada)


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