American, Eruopean markets dominate global pharmaceutical industry

In a daily briefing, Daily Stock Tracker (DST) gave some insight on certain biotech stocks, noting that the global Pharmaceutical industry is dominated by the American and European markets. According to Forbes’ top companies of 2017, the ten biggest drug companies are all located in these two regions.

The researcher said that on Tuesday, shares in San Diego, California headquartered Apricus Biosciences Inc. recorded a trading volume of 128,247 shares. The stock ended at $1.09, up 1.87% from the last trading session. The Company’s shares have gained 14.74% in the last one month. The stock is trading below its 50-day moving average by 0.59%. Furthermore, shares of Apricus Biosciences, which focuses on the development and commercialization of product candidates in the areas of urology and rheumatology, have a Relative Strength Index (RSI) of 53.50.

According to the DTS, Cupertino, California headquartered DURECT Corp.’s stock finished yesterday’s session 2.67% higher at $1.54 with a total trading volume of 668,482 shares. The Company’s shares have gained 20.31% in the last month, 61.37% over the previous three months, and 14.93% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 35.17% and 29.87%, respectively. Furthermore, shares of DURECT, which researches and develops medicines based on its epigenetic regulator and drug delivery programs, have an RSI of 76.21.

Furthermore, on June 22, 2017, DURECT announced that patient enrollment has been completed in PERSIST – the pivotal Phase-3 clinical trial of POSIMIR (SABER-Bupivacaine), an investigational locally acting, non-opioid analgesic intended to provide up to three days of continuous pain relief after surgery. The Company looks forward to completing patient follow-up visits during the third quarter, and announcing top-line data in Q4 of this year.

Another drop of shares, at the close of trading on Tuesday, was seen by Rockville, Maryland headquartered Sucampo Pharmaceuticals Inc., of 3.26%, ending the day at $10.40. The stock recorded a trading volume of 316,141 shares. The Company’s shares have advanced 1.46% in the last one month. The stock is trading 2.36% above its 50-day moving average. Moreover, shares of Sucampo Pharma, which focuses on developing, identifying, acquiring, and marketing medicines that meet unmet medical needs, primarily in gastroenterology, ophthalmology, and oncology-related disorders in the US, Japan, Switzerland, and internationally, have an RSI of 53.94.

Sucampo Pharmaceuticals announced that on June 13, 2017 the US Patent and Trademark Office has issued a patent for VTS-270, a novel and well characterized 2-hydroxypropyl-beta-cyclodextrin (HPβCD) product, under investigation as an intrathecally administered treatment for Niemann-Pick Disease Type C1. The patent, U.S. Patent No. 9,675,634, relates to proprietary cyclodextrin compositions with a specific fingerprint and purity profile that distinguish VTS-270 from other HPβCD products. It expires in 2036.SciClone Pharma

Foster City, California headquartered SciClone Pharmaceuticals Inc.’s shares ended the day 0.46% lower at $10.90 with a total trading volume of 266,289 shares. The stock has gained 16.58% in the last month, 11.22% over the previous three months, and 0.93% on an YTD basis. The Company’s shares are trading 9.26% above their 50-day moving average and 8.92% above their 200-day moving average. Additionally, shares of SciClone Pharma, which provides therapies for oncology, infectious diseases, and cardiovascular disorders in the People’s Republic of China, the US, and Hong Kong, have an RSI of 66.40.

On June 8, 2017, SciClone Pharma and a consortium consisting of entities affiliated with GL Capital Management GP Limited, Bank of China Group Investment Limited, CDH Investments, Ascendent Capital Partners, and Boying (collectively, the “Buyer Consortium”) announced that they have entered into a definitive merger agreement under which the latter will acquire all the outstanding shares of SciClone for $11.18 per share in cash. The transaction will be funded by the Buyer Consortium through a combination of equity financing and debt financing.

On June 8, 2017, research firm Maxim Group downgraded the Company’s stock rating from ‘Buy’ to ‘Hold’.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.