Mesoblast falls 42pc as investors lose heart

Original article by Jessica Gardner, James Thomson
The Australian Financial Review – Page: 13 & 18 : 15-Jun-16

The market capitalisation of Australian biotechnology group Mesoblast has fallen to $A750m following a 42.2 per cent fall in its share price on 14 June 2016. The stock closed at a seven-year low of $A1.11 after Teva Pharmaceutical Industries advised that it will not finance the final round of clinical trials for Mesoblast’s stem-cell treatment for heart failure. Mesoblast had cash reserves of around $US100m at the end of the March quarter, and CEO Silviu Itescu is confident that the group can secure funding partners before its cash reserves are exhausted.

CORPORATES
MESOBLAST LIMITED – ASX MSB, TEVA PHARMACEUTICAL INDUSTRIES LIMITED, CEPHALON INCORPORATED, CANACCORD GENUITY (AUSTRALIA) LIMITED

J&J to pay $250m for bad hip joints

Original article by Marianna Papadakis
The Australian Financial Review – Page: 7 : 1-Apr-16

Johnson & Johnson has reached a conditional agreement with lawyers representing 1,700 Australians who allegedly suffered adverse health effects related to hip replacements. The pharmaceutical and medical devices group agreed to pay $A250 million to settle the case. The class action settlement is yet to be approved by Federal Court.

CORPORATES
JOHNSON AND JOHNSON, DEPUY AUSTRALIA, SHINE LAWYERS, MAURICE BLACKBURN PTY LTD, FEDERAL COURT OF AUSTRALIA

Less popular surgery could hurt

Original article by Tim Binsted
The Australian Financial Review – Page: 1 & 6 : 4-Feb-16

Figures from Medicare indicate a decline in the growth rate of certain medical procedures. The number of surgical, obstetric and diagnostic procedures increased by 2.2 per cent in the fourth quarter of 2015, compared with the four-year average growth rate of 5.1 per cent. This trend may affect investors’ confidence in Ramsay Health Care and Healthscope.

CORPORATES
RAMSAY HEALTH CARE LIMITED – ASX RHC, HEALTHSCOPE LIMITED – ASX HSO, UNITING CARE, MACQUARIE SECURITIES PTY LTD, ST JOHN OF GOD HEALTH CARE INCORPORATED, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA

Nurofen range to be pulled over claims

Original article by Patrick Hatch
The Australian Financial Review – Page: 3 : 15-Dec-15

The Federal Court has ruled that Reckitt Benckiser misled consumers by claiming that its Nurofen painkillers are specially formulated to treat specific medical conditions. The Australian Competition & Consumer Commission took legal action after alleging that each Nurofen product contains the same active ingredient. Reckitt Benckiser has been given three months to withdraw the specific-pain products from sale, but it will be allowed to keep marketing them for 12 months provided the packaging indicates that the products can be used to treat other types of pain.

CORPORATES
RECKITT BENCKISER (AUSTRALIA) PTY LTD, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. THERAPEUTIC GOODS ADMINISTRATION

Biotech founder Itescu loses $90m in morning as US float disappoints

Original article by Tim Binsted
The Australian Financial Review – Page: 19 : 17-Nov-15

Mesoblast expects to raise $US63.8 million ($A95.8 million) by issuing American Depositary Shares (ADSs) in the US. The Australian-listed stem cell therapy group is offering ADSs at $US8 a unit, which implies that Mesoblast has a valuation of $A2.20 a share on the Australian stock exchange. Mesoblast shares declined 38.4 per cent to $A2.10 on 16 November 2015.

CORPORATES
MESOBLAST LIMITED – ASX MSB, NASDAQ, STARPHARMA HOLDINGS LIMITED – ASX SPL

CSL launches $1b share buyback

Original article by Tim Binsted
The Australian Financial Review – Page: 15 : 16-Oct-15

Australian-listed CSL forecasts that its Seqirus influenza division will post revenue of $US450m and a break-even profit in 2015-16, before making a profit in 2017-18. Seqirus has been established by merging the BioCSL division with the recently acquired flu vaccines arm of Novartis. Meanwhile, CSL will repurchase some $A1bn of its shares over the next year. It will be the group’s ninth buyback in the last decade.

CORPORATES
CSL LIMITED – ASX CSL, BIOCSL, SEQIRUS, NOVARTIS AG, UBS HOLDINGS PTY LTD

Antidepressants may harm a healthy brain

Original article by Jill Margo
The Australian Financial Review – Page: 42 : 9-Sep-15

A survey by the OECD in 2013 found that Australia boasts the second-highest use of antidepressant drugs per capital among 33 nations. New medical research suggests that antidepressant drugs might significant affect the areas of the human brain that regulate a person’s mood and memory. Previous research has found that people who suffer from depression generally have smaller volumes of these areas of the brain, but the new research may have implications for the use of antidepressants to treat other conditions such as anxiety and post-traumatic stress disorder.

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, UNIVERSITY OF NEW SOUTH WALES, BLACK DOG INSTITUTE

Deal lifts Starpharma shares 21pc

Original article by Tim Binsted
The Australian Financial Review – Page: 15 : 8-Sep-15

Shares in Australian biotechnology group Starpharma closed 21.3 per cent higher at $A0.74 on 7 September, after securing a licensing agreement with AstraZeneca for the use of its dendrimer drug delivery technology. Starpharma CEO Jackie Fairley say the deal could potentially be worth at least $US450m to the company. Starpharma recently posted a 2014-15 loss of $A18.95m.

CORPORATES
STARPHARMA HOLDINGS LIMITED – ASX SPL, ASTRAZENECA PLC, McGRATH REAL ESTATE PTY LTD, ALLAN GRAY AUSTRALIA PTY LTD, FIDELITY INVESTMENTS AUSTRALIA LIMITED

Symptoms mask flu trend

Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 27-Jul-15

Australian pathology laboratories reported some 9,594 cases of flu during the June 2015 quarter, compared with just 4,591 in the previous corresponding period. Influenza Specialist Group chairman Alan Hampson says anecdotal evidence suggests that Australians have contracted flu earlier than usual in 2015. In contrast, Primary Health Care recently attributed lower patient numbers during the quarter to factors such as a less severe cold and flu season.

CORPORATES
INFLUENZA SPECIALIST GROUP, PRIMARY HEALTH CARE LIMITED – ASX PRY, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN MEDICAL ASSOCIATION LIMITED, SONIC HEALTHCARE LIMITED – ASX SHL

Primary Health scare on profit slump

Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 17-Jul-15

Shares in Primary Health Care fell by $A0.42 to $A4.77 on 16 July 2015, after the group advised that its 2014-15 EBITDA will around $A400m, which is similar to the previous year. Primary had previously forecast that its EBITDA would be within the range of $A410m to $A425m. Primary has also indicated that it now expects a tax refund of about $A50m, compared with earlier expectations of $A130m.

CORPORATES
PRIMARY HEALTH CARE LIMITED – ASX PRY, AUSTRALIAN TAXATION OFFICE, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, STANDARD AND POOR’S ASX 200 INDEX