Shares of Express Scripts Holding Company (NASDAQ:ESRX) ended Thursday session in red amid volatile trading. The shares closed down -1.09 points or -1.54% at $69.84 with 2.22 million shares getting traded. Post opening the session at $70.97, the shares hit an intraday low of $69.80 and an intraday high of $71.06 and the price vacillated in this range throughout the day. The company has a market cap of $44.70 billion and the numbers of outstanding shares have been calculated to be 630.22 million shares.
Express Scripts Holding Company (ESRX) on Sept. 8, 2016 launched its Inflammatory Conditions Care Value Program℠, a comprehensive approach to control costs and improve care for people with inflammatory conditions like rheumatoid arthritis, psoriasis and Crohn’s Disease.
Through the combination of indication-specific formulary management and refunds for early discontinuation of therapy, this new program is the nation’s most comprehensive approach to better align a drug’s price with the value that drug provides a patient.
“Painful inflammatory conditions like rheumatoid arthritis can cripple patients and obliterate payer budgets,” said Glen Stettin, MD, Senior Vice President and Chief Innovation Officer at Express Scripts. “By finding creative ways to take better care of patients and protect our clients’ budgets, Express Scripts is uniquely tackling one of the biggest health challenges facing our country.”
Shares of ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) ended Thursday session in red amid volatile trading. The shares closed down -0.33 points or -5.58% at $5.58 with 2.24 million shares getting traded. Post opening the session at $5.87, the shares hit an intraday low of $5.49 and an intraday high of $5.87 and the price vacillated in this range throughout the day. The company has a market cap of $792.75 million and the numbers of outstanding shares have been calculated to be 131.73 million shares.
ZIOPHARM Oncology Inc. (ZIOP) on Aug. 09, 2016 announced financial results for the second quarter ended June 30, 2016, and provided an update on the Company’s recent activities.
“ZIOPHARM had a very productive first half, with the achievement of pipeline and corporate milestones across the breath of our portfolio and the advancement of our goal to position the company at the forefront of those harnessing the immune system to target cancer,” said Laurence Cooper, M.D., Ph.D., Chief Executive Officer of ZIOPHARM Oncology. “Central to this effort, we were pleased to have amended the terms of our collaboration with Intrexon to facilitate the commercialization of our immunotherapy assets. The benefit of this new structure is expected to be first realized with our gene therapy Ad-RTS-hIL-12 + veledimex program, which remains on track to move into a registrational trial in advanced glioblastoma in 2017.”
Corporate and Program Updates
Amended Exclusive Channel Collaborations with Intrexon to Improve Alignment as Programs Advance through Development. In June, ZIOPHARM and Intrexon Corporation (XON) announced amendments to their Exclusive Channel Collaborations (ECCs) in the fields of oncology and graft-versus-host-disease (GvHD) to improve alignment between both companies as ZIOPHARM broadens its pipeline and advances multiple therapeutic programs in the clinic.
Under the terms of the amendments:
Operating profit rates payable to Intrexon from ZIOPHARM on products developed under its two existing collaborations will be reduced from 50% to 20%. This reduction will not apply to royalties or other payments made with respect to the companies’ existing collaboration with Merck Serono, the biopharmaceutical business of Merck KGaA;
Economics from any future sublicensing arrangements with potential third party collaborators will remain evenly split.