SmallCapReview.com has been a leading site for information on small cap stocks, penny stocks and microcaps since 1999.
Progenics Pharmaceuticals (Nasdaq: PGNX) $5.76. Today announced along with Salix Pharmaceuticals (Nasdaq: SLXP) that they have entered into an exclusive worldwide (except Japan) agreement by which Salix has licensed rights to RELISTOR (methylnaltrexone bromide). RELISTOR Subcutaneous Injection is indicated for the treatment of opioid-induced constipation (OIC) in patients with advanced illness who are receiving palliative care, when response to laxative therapy has not been sufficient. Use of RELISTOR beyond 4 months has not been studied.
RELISTOR is a peripherally acting mu-opioid receptor antagonist that counteracts the constipating effects of opioid pain medications in the gastrointestinal tract without affecting their ability to relieve pain. The methylnaltrexone license includes intellectual property from the University of Chicago, Progenics Pharmaceuticals, and Wyeth Pharmaceuticals, including patents and applications with expiration dates that will range from 2017 through 2031. RELISTOR was approved in the United States in 2008, and currently the drug is approved for use in over 50 countries worldwide. In 2010, RELISTOR single-use, pre-filled syringes were approved for use in the United States, Canada and the European Union. Worldwide net sales of RELISTOR totaled $16 million in 2010.
What They Do: Progenics Pharmaceuticals is a biopharmaceutical company focusing on the development and commercialization of innovative therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases.
Magic Software (Nasdaq: MGIC) $9.11. Today announced that Ekro, part of the VanDrie group, the largest veal producer in the world, has made a strategic decision to upgrade and expand its custom-built enterprise resource planning (ERP) solution using Magic Software's uniPaas application platform. This move will allow Ekro to better address its global supply-chain expansion and to further optimize its core veal production process.
Production and distribution facilities must accurately manage vast amounts of precise real-time information to let management make the most informed business decisions. Ekro prides itself on combining modern technology with a traditional craft, providing custom-designed services to its clients all over the world. The Ekro ERP system, developed with the uniPaas, effectively manages all production cycles. It covers all business aspects, including planning, the delivery of calves, meat processing, sales, shipments, invoicing and billing. Using Magic Software's application platform, uniPaaS, Ekro can significantly increase production while keeping its resources and budget under tight control.
What They Do: Magic Software Enterprises is a global provider of cloud and on-premise application platform and business integration solutions.
A.D.A.M., Inc. (Nasdaq: ADAM) $7.45. Today announced that its shareholders have approved the Agreement and Plan of Merger, dated as of August 29, 2010, by and among A.D.A.M., Ebix, Inc. (“Ebix”) and Eden Acquisition Sub, Inc., a direct wholly owned subsidiary of Ebix.
More than 61 percent of the outstanding shares of A.D.A.M. common stock were voted in favor of the merger during the Special Meeting of Shareholders held on February 4, 2011. This vote exceeded the required threshold, which was approval by a majority vote of the outstanding shares. Of the shares voted, over 99 percent voted in favor of the merger.
Under the terms of the merger agreement, at the closing of the merger, each share of common stock of A.D.A.M. will be converted into the right to receive 0.3122 shares of common stock of Ebix. A.D.A.M. has adequate cash on hand to meet the minimum requirements of the merger agreement, so no purchase price adjustment to the exchange ratio is necessary. Pursuant to the terms of the merger agreement, the merger shall occur within three business days after satisfaction of all the conditions to the merger. A.D.A.M. believes it has fully performed its obligations and satisfied its closing conditions under the merger agreement.
What They Do: A.D.A.M. is a leading provider of innovative online technology solutions for the benefits, health, and education markets.
About SmallCapReview
Copyright SmallCapReview. SmallCapReview.com is a leading site for news on small-caps, penny stocks and microcaps. SmallCapReview has built a loyal opt-in following for their investor products by providing a newsletter at no cost, sent to subscribers, highlighting select stocks in play, to register visit www.SmallCapReview.com.
