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5 Top Gainers In Healthcare Sector (MNK, ENDP, MLNT...)

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The following are some of today's top gainers in the healthcare sector.

1. Mallinckrodt Public Limited Company (MNK)

Mallinckrodt is a global biopharmaceutical company.

Gained 84.76% to close Tuesday's (Sep.10) trading at $3.88.

News: The Company is all set to sell its wholly-owned subsidiary BioVectra Inc. to an affiliate of H.I.G. Capital, a global private equity investment firm, for approximately $250 million.

The transaction is expected to close in the fourth quarter of 2019, subject to customary closing conditions.

2. Endo International plc (ENDP)

Endo International is a generics and specialty branded pharmaceutical company.

Gained 30.29% to close Tuesday's trading at $4.00.

News: No news

Recent event:

-- On September 6, 2019, the Company submitted a Biologics License Application to the FDA for collagenase clostridium histolyticum (CCH) for the treatment of cellulite in the buttocks.

The FDA has a 60-day filing review period to determine whether the BLA is complete and acceptable for filing.

-- On September 5, 2019, the Company executed a definitive Settlement Agreement and Release in connection with the lawsuit brought by Cuyahoga and Summit counties in Ohio against opioid makers and distributors, including Endo International.

As part of the settlement, Endo will pay a total sum of $10 million and will provide up to $1 million of its Vasostrict and Adrenalin products free of charge, to be initially allocated by and between the two plaintiff counties as follows: Cuyahoga County will receive $6.2 million in cash and up to $620,000 of Vasostrict and/or Adrenalin, and Summit County will receive $3.8 million in cash and up to $380,000 of Vasostrict and/or Adrenalin.

More than 2,000 lawsuits have been filed by state and local governments against major drugmakers, alleging that the companies aggressively marketed the painkillers despite knowing the risk of addiction and that they are liable for the nation's opioid crisis.

-- On August 20, 2019, the Company reached a settlement in principle with two Ohio counties - the County of Cuyahoga, Ohio, the County of Summit, Ohio and certain related persons to resolve Track 1 opioid cases.

As part of the settlement, Endo will pay a total sum of $10 million and will provide up to $1 million of its Vasostrict and Adrenalin products free of charge to the two Ohio counties to be used in their sole discretion.

3. Acorda Therapeutics Inc. (ACOR)

Acorda Therapeutics is a biopharmaceutical company marketing two approved products namely Parkinson's therapy INBRIJA and AMPYRA, a treatment for walking impairment in multiple sclerosis. In September 2018, AMPYRA lost its exclusivity and generics entered the market.

Gained 26.98% to close Tuesday's trading at $4.00.

News: No news

Recent event:

-- On August 1, 2019, the Company reported financial results for the quarter ended June 30, 2019.

For the quarter ended June 30, 2019, the Company reported INBRIJA net revenue of $3.0 million. INBRIJA became commercially available on February 28, 2019. AMPYRA net revenue for the second quarter of 2019 was $44.2 million compared to $150.3 million for the same quarter in 2018.

The Company expects AMPYRA net revenue for the full year 2019 to be greater than $140 million.

4. Akebia Therapeutics Inc. (AKBA)

Akebia is a revenue-generating biopharmaceutical company focused on the development and commercialization of therapeutics for patients with chronic kidney disease.

Gained 26.17% to close Tuesday's trading at $5.40.

News: No news

Clinical Trials & Near-term Catalysts:

-- In July of this year, Akebia's collaboration partner, Japan Tobacco, Inc. and its subsidiary Torii Pharmaceutical Co., Ltd., reported positive top-line results from their pivotal Phase 3 comparative study evaluating Riona Tablets for the treatment of iron deficiency anemia (IDA) in adult patients in Japan.
-- The same month, i.e., in July of 2019, Mitsubishi Tanabe Pharma Corporation, Akebia's development and commercialization collaboration partner in Japan for Vadadustat, submitted a Japanese New Drug Application (JNDA) to the Ministry of Health, Labor and Welfare in Japan for manufacturing and marketing approval of Vadadustat as a treatment for anemia due to chronic kidney disease. The submission triggered a $10 million milestone payment from Mitsubishi Tanabe to Akebia, which was received last month.
-- Two global phase III studies evaluating Vadadustat in dialysis-dependent chronic kidney disease (CKD) subjects with anemia due to CKD, dubbed INNO2VATE, are underway, with top-line data from both the studies expected in the second quarter of 2020.
-- A phase III program evaluating Vadadustat in non-dialysis dependent CKD subjects with anemia due to CKD, dubbed PRO2TECT, is underway, with top-line results expected in mid-2020.

5. Melinta Therapeutics Inc. (MLNT)

Melinta is a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections. The Company has four marketed products - Baxdela, Vabomere, Orbactiv, and Minocin for Injection.

Gained 24.22% to close Tuesday's trading at $3.18.

News: No news

Clinical Trials & Near-term Catalysts:

-- A supplemental New Drug Application for Baxdela seeking to expand the current indication to include adult patients with community-acquired bacterial pneumonia is under FDA review, with a decision expected on October 24, 2019.
-- A phase I study of a new formulation of Orbactiv versus the approved formulation in subjects with acute bacterial skin and skin structure infections (ABSSSI) is underway.

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