Stocks On Radar: Radiant Logistics, Inc. (NYSEMKT: RLGT); Abbott Laboratories (NYSE:ABT); Actavis plc (NYSE:ACT)
Dallas, Texas, 09/29/2014 (ustrademedia) – Logistics services provider Radiant Logistics, Inc. (NYSEMKT:RLGT) announced on 26th September that it has decided to expand its Adcom network into new neighbourhoods of Tulsa and Oklahoma City in the state of Oklahoma. The new roll outs are designed to help the firm leverage its sprawling technology solution platform to help business and individuals a dependable and cost freight mailing and logistics services. Jimmy Sheets has been appointed as the lead for this initiative. The new leader expressed his happiness to be joining the tag team and indicated that the Radiant/Adcom team was well-positioned to meet the specific and varying needs of its customers across Oklahoma.
AbbVie Inc (NYSE:ABBV) and Abbott Laboratories (NYSE:ABT) won a major reprieve. When the District Court of Northern District of Illinois ruled that the allegations of racketeering faced by the two firms be baseless. The case was lodged by the New England Carpenters Health and Welfare Fund. The lawsuit had complained that the two drug firm majors had colluded to enter into a banned co-pay program to promote drugs “Humira and AndroGel”. The case had been filed in March of 2012. The cases that were framed on the laws of “Racketeer Influenced and Corrupt Organizations Act” had been quashed after the court found that the case lacked legal evidence.
Drug maker Actavis plc (NYSE:ACT) reported on 25th September that it has gone ahead and filed an Abbreviated New Drug Application in front of the U.S. Food and Drug Administration (FDA). The application sought the approval of the regulator to release into the market space its test drug Buprenorphine Transdermal System in dosages of five mcg/hr, 10 mcg/hr and 20 mcg/hr. The drug in question is being developed as a generic form of Purdue Pharma’s Butrans®. The drug has been found to act as an instant pain relief for patients suffering from opioid.