This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Pfizer Adds New Partners Through King Buy

Stocks in this article: PTIE ACUR KG

NEW YORK ( TheStreet) -- Pfizer's (PFE - Get Report) $3.6 billion acquisition of King Pharmaceuticals (KG) brings King's drug development partners Pain Therapeutics (PTIE) and Acura Pharmaceuticals (ACUR - Get Report) into the Pfizer orbit.

Pain Therapeutics and King are partners on Remoxy, an abuse-resistant, controlled-release formulation of the opioid pain reliever oxycontin intended for the treatment of moderate to severe chronic pain.

The U.S. Food and Drug Administration rejected Remoxy in December 2008 and since then, efforts by King and Pain Therapeutics to respond to the agency's concerns have taken longer than expected. Most recently, King said it plans to resubmit Remoxy to the FDA in the fourth quarter.

King and Pain Therapeutics are also co-developing two additional, early-stage pain drugs under their partnership agreement.

Pain Therapeutics shares were up 16% to $7.28 in recent trading as investors respond favorably to the prospect that Pfizer will take over the Remoxy program.

Acura Pharmaceuticals and King are co-developing Acurox, an abuse-resistant formulation of the pain drug oxycodone. An FDA advisory committee voted in April to recommend against Acurox's approval, in part because of concerns about the use of niacin as an integral part of the drug's abuse-resistant formulation.

In July, King said it planned to meet with FDA before submitting data on a new, niacin-free formulation of Acurox in the first quarter 2011.

Acura shares were up 15 cents to $2.42 in recent trading.

--Written by Adam Feuerstein in Boston.



>To contact the writer of this article, click here: Adam Feuerstein.

>To follow the writer on Twitter, go to http://twitter.com/adamfeuerstein.

>To submit a news tip, send an email to: tips@thestreet.com.

Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,667.69 -4.91 -0.03%
S&P 500 2,050.35 -1.47 -0.07%
NASDAQ 4,754.2130 -3.6660 -0.08%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs