ANI Pharmaceuticals Inc. (NASDAQ:ANIP), the specialty pharmaceutical company, has announced its consent to acquire NDAs for corticotropin-zinc hydroxide and purified corticotropin gel from Merck & Co., Inc. (NYSE:MRK) The product being sold by the healthcare behemoth is knows as MSD in areas outside the United States and Canada. The deal size includes a certain future net sales percentage and $75 million cash. The ANI Pharmaceuticals stock initially traded at $54.10 price on September 21. The end of day saw the stock moving up about 4.39 percent before ending at $55.40. The company exhibited 3.61 percent in weekly performance.
Milestone payments and technology companies
According to CorpBioSpecifics Technologies Corp. (NASDAQ:BSTC), the initial commercial sale transaction of CCH or clostridium histolyticum by Asahi Kasei Pharma Corp has initiated a milestone payment of $1 million. This product is also known as Xiaflex and used to treat Dupuytren's contracture. Investment done on BioSpecifics Technologies has provided a return of 15.20 percent and its shares closed $57.11 on September 21. The monthly performance of the company is 13.58 percent and its performance until this time of year is 47.88 percent.
Majesco Entertainment Co. (NASDAQ:COOL), on September 15, reported its third quarter financial results. Chief Executive Officer David Rector said his company is on its way to streamline the business. He also mentioned that the last quarter has showed the company's commitment to move towards profitability. There was a sharp drop in operating losses, from a crushing $2.3 million in 2014 to about $700,000 in the third quarter identical period. The company closed the period with a much more robust balance sheet, with cash equivalents and cash being $8.6 million. The company is continuing to concentrate on downloadable game market. Rector believes that the titles the company is presently working on will be popular.
There was an 18.75 percent dip in Majesco Entertainment shares to close at $1.56. The ratio of company price to its sale is calculated to 1.20. Insider ownership is 0.10 percent and the company is classified to be in the technology sector. Another company, ACE Limited is expected to hold a conference call detailing its third quarter earnings on October 21. The company expects that it will issue the release of its third quarter earnings and also the financial supplement post market closing on October 20, 2015. ACE Limited, on its last trading day, jumped 1.76 percent to touch $101.68. The company is just 13.45 percent away from its 52 week peaks and is also moving 5.92 percent ahead of 52 week trough.