--(www.USEquityNews.com)-- 05/09/2008 - Healthcare industry alert provided by U.S. Equity News. PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) recently reported financial results for the quarter ended March 31, 2008. The results of the company's commercial and cardiovascular operations segment are presented as discontinued operations. The assets related to this segment were sold in March 2008. The financial results for continuing and discontinued operations are summarized below and are included, in addition to supplemental information, in the financial tables accompanying this press release.
Medical device company NuVasive Inc. (NASDAQ: NUVA) said recently it will buy Osiris Therapeutics Inc.'s Osteocol unit, which includes a developing bone graft stem cell treatment. The deal includes $35 million in cash plus additional future milestone payments to Osiris for up to $50 million in cash or a combination of cash and NuVasive stock. NuVasive said the deal will be funded with existing cash and is expected to close in the third quarter. NuVasive said the deal gives it a developing stem cell technology and a way into the biotechnology market. It expects the deal to add $15 million in revenue in 2008 and $25 million in 2009, though it will cut into earnings in 2008.
Halozyme Therapeutics, Inc. (NASDAQ: HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix, recently reported financial results for the three months ended March 31, 2008. "This year is off to a solid start as we significantly advanced both our partnered and proprietary programs in the first quarter of 2008," said Jonathan Lim, MD, Halozyme's President and CEO. "In addition, we are pleased to disclose that insulin is the target of our "Cheetah" program. We will be presenting Phase I clinical data at the upcoming American Diabetes Association meeting next month in San Francisco. This study was designed to identify whether injections of mealtime insulins formulated with PH20 could create a more rapid blood glucose control compared to the best insulin products available recently indicated for diabetes. The existing global market for insulin and insulin analogs is estimated at $10 billion.
TapImmune Inc. (OTC BB: TPIM) announces completion of initial testing on our bench made vaccine at AppTech. The company now has the necessary data to proceed with clinical grade vaccine stock production. Going forward, our work and development program includes phased manufacturing and production for both infectious disease adjuvant and cancer therapeutic vaccine candidates. These will culminate in toxicology studies and will coincide with pre-IND meeting preparation with the FDA and clinical protocols for our proposed phase 1 human studies. This milestone is predicated on the back of a year where we have seen the completion of the UBC assignment agreement finally effecting our acquisition of the core technologies we developed under the world-wide license agreement.
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