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Amicus Therapeutics (Nasdaq: FOLD) $3.95, along with GlaxoSmithKline PLC (GSK) today anpunced a definitive agreement to develop and commercialize Amigal (migalastat HCl), currently in Phase 3 for the treatment of Fabry disease, a rare inherited disorder. Under the terms of the agreement, GSK will receive an exclusive worldwide license to develop, manufacture and commercialize migalastat HCl. Additionally, as part of the agreement GSK and Amicus also intend to advance clinical studies exploring the co-administration of migalastat HCl with enzyme replacement therapy (ERT) for the treatment of Fabry disease.
Under the terms of the Agreement, Amicus will receive an upfront, license payment of $30M from GSK and is eligible to receive further payments of approximately $170M upon the successful achievement of development and commercialization milestones, as well as tiered double-digit royalties on global sales of migalastat HCl. GSK and Amicus will jointly fund development costs in accordance with an agreed upon development plan. Additionally, as part of the collaboration, GSK is purchasing 6.9 million shares of Amicus common stock at a price of $4.56 per share. The total value of this equity investment to Amicus is $31 million and represents a 19.9% ownership position for GSK in the Company. The total cash up-front to Amicus from GSK for the upfront license payment and equity investment is approximately $60 million.
What They Do: Amicus Therapeutics is a biopharmaceutical company focused on developing treatments for rare diseases.
LifePoint Hospitals (Nasdaq: LPNT) $35.52. Today announced results for the third quarter and nine months ended September 30, 2010. For the third quarter ended September 30, 2010, revenues from continuing operations were $832.3 million, up 11.7% from $745.0 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for the third quarter ended September 30, 2010, increased 19.9% to $38.5 million, or $0.72 per diluted share, compared with income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders of $32.1 million, or $0.59 per diluted share, for the same period last year.
Income from continuing operations for the third quarter ended September 30, 2010, includes incremental Alabama Medicaid funding that the Company budgeted to receive in 2010 as well as a favorable income tax adjustment. Net income attributable to LifePoint Hospitals, Inc. stockholders for the third quarter ended September 30, 2010, was $38.8 million, or $0.73 per diluted share, compared with $31.4 million, or $0.58 per diluted share, for the same period last year.
What They Do: LifePoint Hospitals, Inc. is a leading hospital company focused on providing quality healthcare services close to home.
The NASDAQ OMX (Nasdaq: NDAQ) $20.90. Today announced results for the third quarter of 2010. Net income attributable to NASDAQ OMX for the third quarter of 2010 was $101 million, or $0.50 per diluted share, compared with $96 million, or $0.46 per diluted share, in the second quarter of 2010, and $60 million, or $0.28 per diluted share, in the third quarter of 2009. Included in the third quarter of 2010 results are $4 million of expenses associated with workforce reductions, merger and strategic initiatives, and other items, offset by $4 million of benefits associated with the tax impact of these items and certain other tax adjustments.
What They Do: The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,600 listed companies.
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