Specialty drugmaker Horizon Pharma (HZNP) rose as much as 3.75 early Friday after Leerink launched coverage with an outperform rating. Analyst Jason Gerberry wrote that Horizon’s legacy brands — the arthritis medicines Vimovo and Duexis — have proved surprisingly resilient despite being removed from the preferred formularies of Express Scripts (ESRX) and CVS Health (CVS) this year. The cash flow from those brands should help the company build out
Ctrip International (CTRP) and Expedia (EXPE) both stand to benefit from the latter’s sale of its eLong (LONG) stake, analysts say, and shares of all three are taking off Friday. Expedia said it has shed its 62.4% majority stake in the struggling Chinese OTA eLong for $671 million. Ctrip picked up a 37.6% stake in eLong for about $400 million, the company said in a separate release. Ctrip and Expedia said they will “allow their respective
Next-generation robotics might be, as some in the industry say, computing in a new form, but robots aren’t the perennial investment darlings that computing is. “I don’t think Wall St. has gotten the memo on robotics,” said Tom Green, editor-in-chief of industry investment publisher Robotics Business Review. Most investors have only vague ideas about robots, Green said, “and they have 50 years of understanding information technology.” Acquisitions