An import alert placed upon Dr. Reddy Laboratories, Ltd. by the FDA has been lifted. The firm’s chemical manufacturing facility in Cuernavaca, Mexico was inspected by the agency in November of 2010, and based on findings, a Warning Letter was shared with the company on June 14, 2011. As of now, with the satisfactory finalization of observations in the warning Letter and the lifting of the import alert, the firm is allowed once again export products to the United States from this particular facility.
Don’t Miss: Dendreon Earnings Sneak Peek.
Shares of the hospital-information technology vendor Cerner Corporation fall, following the release of its second quarter report that beat on the bottom line, but issued an ugly third quarter guidance. Net earnings rose by 36 percent as the company saw revenue jump in both its main segments, a rise which was fueled by system sales. For the current quarter, Cerner predicts earnings between 57 and 59 cents on a revenue range of $635 million to $655 million, against a consensus of 59 cents on revenue of $652 million.
Talon Therapeutics’ (TLON) Chief Executive Steven Deitcher reports that his firm’s experimental blood-cancer treatment Marqibo is drawing potential partners and buyers, though he avoided the identification of any interested parties. The treatment, based on a compound from the rosy periwinkle flower, is aimed at patients suffering from acute lymphoblastic leukemia who have failed at least two other therapies. The FDA should decide whether to okay the drug by August 12th.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.