King Pharmaceuticals, Oil Rigs: Hot Trends
(Information on Pfizer's acquisition of King Pharmaceuticals and offshore oil drilling regulations updated in today's Hot Trends article.)
NEW YORK (TheStreet) -- "King Pharmaceuticals" is a hot search topic today following the news that Pfizer (PFE) has struck a $3.6 billion deal to acquire pain-reliever specialist King Pharmaceuticals (KG).
The agreement helped boost shares of Pain Therapeutics (PTIE), an early-stage painkiller developer. Pain has teamed with King on the development of Pain's lead drug candidate Remoxy, which is currently in clinical trials.The companies have a licensing agreement for Remoxy, a "strong painkiller" which, according to Pain's press reports, has a "unique formulation designed to reduce potential risks of unintended use." Pfizer is likely interested in King's research on and involvement with "abuse-resistant" pain drugs.
"Offshore oil rigs" is a heavily search phrase today after the news that the U.S. government lifted the moratorium on deepwater drilling today. >>Energy Winners: Gulf of Mexico Oil Companies Alive and Well The Obama administration put the restrictions in place following the disastrous BP (BP) oil spill in the Gulf of Mexico. Drilling companies must file for new permits before they can start drilling again. In order to be cleared for operations, companies must meet a set of safety requirements. The CEO of each company must comply with new regulations in efforts to reduce the chance of future accidents.
"Internet TV" is a hot search topic today as Google (GOOG) prepares to launch its highly anticipated Internet TV service, Google TV, this fall.
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