Shares of Zoetis Inc (NYSE:ZTS) ended Thursday session in green amid volatile trading. The shares closed up +0.57 points or 1.12% at $51.63 with 3.17 million shares getting traded. Post opening the session at $51.20, the shares hit an intraday low of $51.15 and an intraday high of $51.82 and the price vacillated in this range throughout the day. The company has a market cap of $25.79 billion and the numbers of outstanding shares have been calculated to be 495.39 million shares.
Zoetis Inc (ZTS) on August 22, 2016 announced that Glenn David, Senior Vice President of Finance Operations, has been named Executive Vice President and Chief Financial Officer (CFO), and will assume responsibility for the oversight of the company’s financial management, planning and global operations, effective immediately. As CFO, David will report directly to Chief Executive Officer Juan Ramón Alaix and become part of the Zoetis Executive Team. David will succeed Executive Vice President and Chief Financial Officer Paul Herendeen, who has resigned effective August 18, 2016, to accept the position of CFO at another public company.
“Glenn has been an accomplished financial and strategic leader for Zoetis and a trusted partner to me and the entire executive team since our IPO,” said Chief Executive Officer Juan Ramón Alaix. “Glenn’s strong financial acumen, deep understanding of our company’s business operations and ability to partner with our business leaders to improve overall company performance, make him the clear successor for this important position. With this natural transition of executive responsibility to such a high caliber executive, the Board and I are confident we have ensured continued focus on delivering shareholder value.”
“We thank Paul for his contributions to our company over the past two years. Paul leaves Zoetis a stronger company, better positioned with investors and set to deliver long-term, sustainable shareholder value,” said Alaix.
Shares of Allergan plc Ordinary Shares (NYSE:AGN) ended Thursday session in green amid volatile trading. The shares closed up +5.16 points or 2.17% at $243.43 with 3.06 million shares getting traded. Post opening the session at $239.92, the shares hit an intraday low of $239.51 and an intraday high of $244.63 and the price vacillated in this range throughout the day. The company has a market cap of $94.40 billion and the numbers of outstanding shares have been calculated to be 395.95 million shares.
On Sept. 22, 2016 Allergan plc (AGN), a leading global pharmaceutical company, and Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) announced that all four dosage strengths of NAMZARIC® (memantine and donepezil hydrochlorides) extended-release capsules that allow patients on donepezil 10 mg to start directly on NAMZARIC are now available by prescription in pharmacies throughout the U.S. NAMZARIC is a once-daily, fixed-dose combination of memantine hydrochloride (a NMDA receptor antagonist) and donepezil hydrochloride (an acetylcholinesterase inhibitor, AChEI) for the treatment of moderate to severe Alzheimer’s Disease in patients stabilized on 10 mg of donepezil hydrochloride once daily. NAMZARIC’S new indication and dosage strengths were approved by the U.S. Food and Drug Administration (FDA) in July 2016.
Approximately 75% of patients diagnosed with Alzheimer’s Disease are in the moderate to severe stage of the disease and yet only about one-third of these patients are treated with combination therapy. Clinical studies have shown that combination therapy with Namenda XR and an AChEI such as Aricept demonstrated significantly superior improvement in cognition and global function verses an AChEI alone.
“We are excited that with the new available dosage strengths patients with moderate to severe Alzheimer’s disease, who are currently stabilized on Aricept, donepezil hydrochloride (10 mg) can now start combination therapy directly with NAMZARIC. NAMZARIC offers these patients the benefits of combining two products that each work differently to treat moderate to severe Alzheimer’s disease, without increasing the number of pills a patient and their caregiver need to administer each day,” said Gavin Corcoran, M.D., chief medical officer at Allergan. “This launch reinforces Allergan’s commitment to development of treatments for Alzheimer’s Disease and other neurological disorders.”