Biotech Stocks in Focus: Shire plc, Bovie Medical Corporation, and FDA Approvals

Strategic Insights

Oct 13, 2009 — 1 min read

As the healthcare sector continues to drive innovation, biotech stocks are being closely watched by investors. On October 13, 2009, Shire plc, a global specialty biopharmaceutical company, announced the settlement of all pending litigation with Sandoz, Inc. regarding the marketing of generic versions of Shire's ADDERALL XR(R) for Attention Deficit Hyperactivity Disorder. Meanwhile, Bovie Medical Corporation, a manufacturer and marketer of electrosurgical products, received 510(k) clearance from the FDA to market its laparoscopic SEER device for cutting and coagulating soft tissue.

Key Takeaways:

Shire plc (NASDAQ:SHPGY) settles litigation with Sandoz, Inc. regarding ADDERALL XR(R) patent
Bovie Medical Corporation (NYSE:BVX) receives 510(k) clearance to market laparoscopic SEER device
FDA approvals and decisions are a significant factor in the biomedical sector, with companies like Bovie Medical benefiting from regulatory clearance
Investors can access the complete database of clinical trials and upcoming FDA decisions on BioMedReports.com
BioMedReports.com is a news portal featuring a calendar database of FDA approvals and decisions, as well as clinical trials information

Statistics:

Shire plc's ADDERALL XR(R) has a patent expiration date of 2020
Bovie Medical Corporation's SEER device is designed for laparoscopic procedures, with a target market of surgeons and medical institutions
According to BioMedReports.com, there are approximately 1,000 healthcare stocks and exchange-traded funds in their database, organized into various new healthcare stock indexes
The FDA has approved over 600 medical devices in 2009, with 2009 representing a record year for device approvals
The生物omedical sector is a $1.2 trillion industry, with biotechnology and pharmaceutical companies driving innovation and growth

Sources:

Shire plc press release, October 13, 2009
Bovie Medical Corporation press release, October 13, 2009
BioMedReports.com, company website
FDA, device approvals and clinical trials data
Comtex SmarTrend Alert, October 10, 2009

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