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CORAL GABLES, FL / ACCESSWIRE / November 2, 2018 / Over the last few days, prices of the iShares Nasdaq Biotech ETF (IBB) as well as the SPDR Healthcare ETF (XLV) have recovered from previous lows this week. The healthcare sector is often regarded as a hedge from regular market forces. Recent volatility has brought this particular topic to light ahead of US midterm elections. Care in the form of providers, equipment, medicine, technology and services is linked to increasing demand as the aging population grows. Today we're taking a closer look at Premier Health Group, Inc. (PHGRF)(PHGI.CN), Titan Pharmaceuticals (TTNP) and Pacific Biosciences of CA Inc. (PACB)
Premier Health Group, Inc. (PHGRF)(PHGI.CN) saw its shares trade higher on Thursday. Market activity in the United States appears to have picked up after the company's most recent announcement. Shares of Premier Health Group, Inc. (PHGRF)(PHGI.CN) have begun to trade on the OTC Markets Group Inc.'s OTCQB Venture Market in the United States, under the symbol PHGRF in late October, and are now Depository Trust Company eligible, effective Oct. 22, 2018.
Premier Health Group, Inc. (PHGRF)(PHGI.CN) previously acquired HealthVue Medical Clinics in August. With this acquisition, Premier entered the primary care clinic and healthcare technology business. HealthVue is a group of four Greater Vancouver-based fully integrated, paperless and electronic-medical-record-based medical clinics with a 10-year history, 22 healthcare professionals and over 100,000 active patients. The clinics have seen revenue growth in excess of 25 percent year over year for the past three years and thus far accounted for over 36,000 patient visits in 2018. HealthVue will open its fifth clinic in Q4 2018.
In the U.S. market, alone, the Telehealth industry is on fire right now, predicted to reach a $2.8 billion valuation by 2025, with the heat only intensifying with time. According to Reuters, the deployment of telemedicine has significantly altered the healthcare paradigm, due to the many technological advancements in the field of medical devices and services.
Titan Pharmaceuticals (TTNP) has seen higher trading volume over the last week. ProNeura™, Titan's innovative drug delivery platform, is advancing the treatment of select chronic diseases by delivering low-dose, non-fluctuating medication levels for up to one year following a single procedure.
Titan Pharmaceuticals develops proprietary therapeutics for the treatment of select chronic diseases. The company's lead product is Probuphine, a six-month buprenorphine implant for the maintenance treatment of opioid addiction. The U.S. Food and Drug Administration approved Probuphine on May 26, 2016. Probuphine is the first marketed product to provide maintenance treatment of opioid addiction continuously for six months, according to the company.
Last month, Knight Therapeutics Inc. (TSXGUD) announced the commercial availability of PROBUPHINE™ (buprenorphine hydrochloride subdermal implant), for the management of opioid dependence in patients clinically stabilized on no more than 8 mg of sublingual buprenorphine in combination with counseling and psychosocial support1. Knight has the exclusive right to distribute PROBUPHINE in Canada under a license agreement with Titan Pharmaceuticals, Inc.
Shares of Titan reached early highs of $0.3385 on Friday morning
Shares of Pacific Biosciences of California (PACB) were rallying to a two-year high in pre-market trading on Friday. The company is a developer of systems for gene sequencing and announced an agreement to be bought by rival Illumina, Inc. (ILMN) in a deal valued at about $1.2 billion, or $8 per share in cash. The per share value represented a 77% premium over the $4.51 at which Pacific Biosciences shares closed Thursday.
Illumina is the maker of DNA sequencing machines and said the acquisition complements sequencing solutions with accurate long-read sequencing capabilities to answer complex genomic questions.
"Combining the two technologies positions us to reach more applications, accelerate the pace of genomic discovery and bolster our innovation engine which has been a hallmark of Illumina since our inception," Illumina Chief Executive Francis deSouza said in a prepared statement.
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