Sept 29- Salix Pharmaceuticals Ltd said the U.S. Food and Drug Administration approved an expanded use of its constipation treatment. It will compete with Nektar Therapeutics and AstraZeneca Plc's oral drug Movantik, approved by the FDA earlier this month for the same patient population.
Sept 29- Salix Pharmaceuticals Ltd said the U.S. Food and Drug Administration approved an expanded use of its constipation treatment. Salix, which is merging with Cosmo Pharmaceuticals SpA's Irish subsidiary, is in talks with Allergan Inc and Actavis Plc about a potential sale, sources have told Reuters in recent weeks.
Shares in biotechs and social media stocks fell Tuesday after a Fed report suggested their valuations appear stretched.
Some of Monday's midday movers:
It’s time for the Lightning Round. Cramer makes the call on viewer favorites.
U.S. stock index futures pointed to a broadly flat open for Wall Street Wednesday, following the previous session's huge rally, as investor enthusiasm at the prospect of more liquidity and looser collateral rules by the Federal Reserve started to dwindle.
For quite some time now analysts and investors have been speculating that big pharma would go on a biotech buying binge. So, will the announcement by Biogen Idec late Friday that it's putting itself on the market be the spark that ignites an M & A explosion in the sector? Perhaps.