Biotech Movers du jour: Clinical Data (CLDA) and Genoptix (GXDX)

Novartis (NVS) acquires Genoptix(GXDX $24.84) for $470M-Stock is up 25%

The biotech diagnostics and tools sector was ignited today with acquisition of Genoptix, a provider of laboratory services for hematology and oncology. Genoptix put itself up for sale in December and is an emerging niche player in personalized medicine with revenues of about $200M and net income at the 9% level.EPS for 2011 was projected flat with sales growth at 2%+. Novartis is boosting their focus in clinical diagnostics with this acquisition as they have a major partnership with GenProbe (GPRO) for blood screening and infectious diseases.

Many diagnostics/tools stocks were up 2%or more today: Abaxis (ABAX),Cepheid (CPHD),Genomic Health (GHDX),Illumina (ILMN),Pacific Biosciences (PACB) and Quidel (QDEL). The Novartis deal gives credence to the personalized medicine strategy of targeting specific therapies with companion diagnostics.

Raygent » Biomarkers Drive Personalized Medicine

Clinical Data(CLDA) Gets FDA Approval For Antidepressant Drug

The FDA approved the Clinical Data product Viibryd for major depressive disorder (MDD) which  a market potential of over $600M according to one analyst. Viibryd (vilazodone HCL) is the only antidepressant that is a selective serotonin reuptake inhibitor and 5HT1A receptor partial agonist. The product was licensed from Merck KGaA. The Company was initially focused on genomics but in November 2010 sold its biomarker/pharmacogenomics business for $14.5M to Transgenomic (TBIO) in order to focus in pharmaceuticals.

Clinical Data, Inc. Announces FDA Approval of Viibryd™ (vilazodone HCl) for Major Depressive Disorder (NASDAQ:CLDA)


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