Chevron Corporation (NYSE: CVX
) on Friday affirmed its previously stated full-year net production guidance for 2010 of 2,750 MBOED based on the first nine months' 2010 average WTI price of $78. This represents a two percent increase from 2009 actual net production.
Pozen Inc. (NASDAQ: POZN
) announced Friday that it has been notified by AstraZeneca that marketing and pricing approval for VIMOVO has been granted in the United Kingdom. VIMOVO is indicated for the symptomatic treatment of osteoarthritis, rheumatoid arthritis and ankylosing spondylitis in patients who are at risk for developing non-steroidal anti-inflammatory drug (NSAID)-associated gastric and/or duodenal ulcers and where treatment with lower doses of naproxen or of other NSAIDs is not considered sufficient. Under the terms of its agreement with AstraZeneca, POZEN will receive a $25 million milestone payment within 20 days. As a result of the payment, the company is confirming its 2010 year-end guidance will be net income of $21 to $23 million. Additionally, the company's year-end cash guidance is anticipated to be $63 to $65 million.
Synchronoss Technologies, Inc. (NASDAQ: SNCR
) announced Friday that it intends to offer, subject to market and other conditions, 3,775,000 shares of its common stock and that certain stockholders of the company intend to offer 483,042 shares of common stock in an underwritten registered public offering. The Company will not receive any proceeds from the shares of common stock offered by the selling stockholders. In connection with this offering, the Company intends to grant to the underwriters an option to purchase up to 638,706 additional shares of common stock to cover over-allotments of shares.
Labopharm Inc. (NASDAQ: DDSS
) said Friday that on November 11, 2010 it received notice from Actavis South Atlantic LLC advising that Actavis has submitted an Abbreviated New Drug Application (ANDA) to the U.S. Food and Drug Administration for approval to market 150 and 300 mg generic versions of OLEPTRO in the United States. Under the Drug Price Competition and Patent Term Restoration Act, OLEPTRO has a new dosage form market exclusivity period that prevents final approval of Actavis' ANDA until the exclusivity period expires on February 2, 2013.
Disclosure: Author doesn't own any of the stocks discussed here.