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McKesson ($MCK) announced its intent to acquire privately-held healthcare IT company CoverMyMeds for nearly $1.1 billion. The company said the deal will strengthen its technology offerings to pharmaceutical manufacturers, clinicians and payers.
The company also reported encouraging financial results for its third quarter. The company reported its Q3 earnings at $633 million. Its adjusted earnings stood at $3.03 per share. McKesson beat the broad consensus of $2.95 per share in earnings. The company reported its revenue at $50.13 billion, lagging behind the estimates of $50.43 billion. It expects full-year earnings in the range of $12.60 to $12.90 per share. The company stock is currently up 7 percent on Year to Date basis.

Gilead Sciences Inc. ($GILD) is due to announce its fourth quarter and full year results for 2016. The company will release the statements on February 7, after the market closes. It will also provide guidance for year 2017. The company also recently reported that its investigational, once-daily, single tablet HCV regimen has been granted accelerated assessment by the European Medicines Agency. Gilead is optimistic that its sofosbuvir 400 mg, velpatasvir 100 mg and voxilaprevir 100 mg combo may be approved for the treatment of chronic HCV patients. The company has already applied for its review in the US as well.
The company has shown steady performance this year and has managed to wipe out some of the losses incurred in the period of last year. However, it is hovering near its 52 weeks low, offering a good opportunity to medium and long term investors to open a position in the stock.


• Endologix Inc. ($ELGX) announced that the CE Mark for the AFX® and AFX2 Endovascular AAA Systems has been reinstated. The action is effective immediately. The company’s CE Mark was temporarily suspended due to reports of Type III endoleaks with a prior generation of the AFX system. The CE Mark was reinstated based upon low rates of reported Type III endoleaks with the current generation of AFX products.
• Novartis ($NVS) has been approached by the SEC and U.S. Justice Department. The company has been asked to furnish documents related to allegations of inappropriate payments made in Greece to healthcare providers. However, the company has branded media reports as ‘highly speculative.’ It said, “We take the allegations extremely seriously and are investigating the reports."

• Aldeyra Therapeutics ($ALDX) announces plans to start two Phase 3 clinical trials this year assessing lead product candidate ADX-102 (formerly NS2). ADX-102 is an aldehyde-binding molecule or aldehyde trap. By decreasing aldehyde load, it may mitigate excessive inflammation caused by excess aldehydes. A Phase 3 study in noninfectious anterior uveitis should commence in Q2.
• TearLab ($TEAR) announced that the TearLab Osmolarity System has been approved in Mexico as an aid in the diagnosis of dry eye disease.The device measures the osmolarity in tears. The company said that the market launch should commence in H1. The distribution will be done by Cyan Medica.

• Johnson and Johnson ($JNJ) has agreed to buy Actelion for $30 billion. The company will acquire all of the outstanding shares of Actelion for $280 per share, representing a 23 percent premium to Actelion's closing price on Wednesday of 227.4 Swiss francs. The consideration is payable in U.S. dollars. This all-cash deal has been unanimously approved by the boards of directors of both companies.
The deal will helps boost Johnson & Johnson's drug pipeline and diversify its prospects. Actelion was also courted by Sanofi, however, the talks fell through. Johnson & Johnson said it expected the transaction to be immediately accretive to its adjusted earnings per share and accelerate its revenue and earnings growth rates. The transaction will be funded with cash held by the company outside the United States. Actelion will spin out its research and development unit into a standalone company, under the name of R&D NewCo.
• CareDx (CDNA) announced the acquisition of Conexio SBT Resolver products and Assign SBT analysis software for high resolution HLA typing from Illumina. HLA (human leukocyte antigen) typing is used to match a bone marrow or cord blood donor with the recipient. The companies did not disclose the financial terms and conditions.

• Varian Medical Systems ($VAR) reported its first quarter results. The company announced its revenue at $763.3 million, up 0.8 percent. However, its net income dropped 76.4 percent to $21 million. Its Non-GAAP net income stood at $70.3 million. The company expects its revenue to grow by 4 to 5 percent in year 2017. Its 2017 Non-GAAP EPS is likely to be in the range of $2.94 and $3.06. For the current quarter ending in April, Varian expects its per-share earnings to be in the range of $0.84 to $0.90.
• Vertex Pharmaceuticals Inc. ($VRTX) announced its fourth quarter net income at $32.9 million. The company earned $0.35 per share, after adjusting for one-time gains and costs, surpassing consensus estimate of $0.26 per share. The company posted revenue of $458.7 million in the period, also topping Street forecasts of $456.3 million. For the full year, the company reported that its loss at $112.1 million, or $0.46 per share. Its revenue for the year was reported as $1.7 billion.

• Proteostasis Therapeutics Inc ($PTI) received Buy rating from H. C. Wainwright. The price target for the stock has been set at $15 apiece.
• Egalet Cop ($EGLT) received Buy rating from Cantor Fitzgerald. The price target for the stock has been set at $15 apiece.

Gainers (% price change) Last Trade Change Mkt Cap
Endologix, Inc.
6.86 +0.68 (11.08%) 571.37M
Pacific Biosciences of
4.93 +0.40 (8.83%) 435.59M
Immunomedics, Inc.
4.65 +0.30 (6.90%) 489.26M
Landauer Inc
53.00 +3.05 (6.11%) 525.71M
Harvard Bioscience, Inc.
3.10 +0.17 (5.98%) 108.40M
Losers (% price change)
Meridian Bioscience, Inc.
12.80 -3.65 (-22.19%) 535.30M
Codexis, Inc.
5.05 -0.20 (-3.81%) 220.78M
CyberOptics Corporation
36.50 -1.25 (-3.31%) 257.35M
Repligen Corporation
28.82 -0.96 (-3.22%) 983.29M
PharmAthene, Inc.
3.25 -0.10 (-2.99%) 216.87M
Most Actives (dollar volume)
Johnson & Johnson
112.80 +1.04 (0.93%) 301.08B
Pfizer Inc.
31.29 +0.14 (0.45%) 188.01B
Gilead Sciences, Inc.
71.91 +1.66 (2.36%) 94.15B
Merck & Co., Inc.
61.08 -0.13 (-0.21%) 166.77B
Intuitive Surgical, Inc.
700.00 +33.95 (5.10%) 27.58B