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Stock Update: Metlife Inc (NYSE:MET); Horizon Pharma plc (NASDAQ:HZNP); Marriott International Inc (NASDAQ:MAR)

Posted in Business, Health7 months ago • Written by Carla NightNo Comments

Dallas, Texas, 10/06/2014 (ustrademedia) – Metlife Inc (NYSE:MET) filed a SEC update on 3rd October indicating that it has written to Financial Stability Oversight Council seeking a hearing. The request from the insurance firm comes on the back of September 4, 2014 decision to classify the financial institution as a “non-bank Systemically Important Financial Institution.” During the requested hearings, the New York headquartered firm wants to submit “written and oral evidence” which will contradict the council’s impending findings. As per provisions of law, the oversight council is expected to schedule a hearing before 3rd November as per Metlife Inc (NYSE:MET) request. A final determination on the status of the insurance firm would be made “within 60 days after the hearing”.

Drug maker Horizon Pharma plc (NASDAQ: HZNP) announced on 3rd October that the U.S. Food and Drug Administration (FDA) has granted its drug candidate ACTIMMUNE® (Interferon gamma-1b) an orphan-drug label. The test drug is being developed as an effective antidote for treating genetic ailment Friedreich’s ataxia (FA). On being awarded the orphan drug designation, Horizon Pharma plc (NASDAQ: HZNP) can seek incentives like tax rebates from the authorities over the costs it will incur on developing the test drug. In the event of FDA approval for ACTIMMUNE®, the makers can enjoy seven year exclusivity for marketing the drug in U.S.

Reuters has reported that Marriott International Inc (NASDAQ:MAR) has agreed to pay of $600,000 in order to address allegations being investigated by Federal Communications Commission. The probe is related to the allegations that management team of the firm, resorted to intentional blocking of wi-fi access to patrons and customers who had access to their own service providers. In turn the customers were charged nearly $1000 for accessing Marriott’s Wi-Fi network.  These allegations are linked to operations of Marriott International Inc (NASDAQ:MAR) at its premier Gaylord Opryland Hotel which is located in Nashville, Tennessee.

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