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garthmd08

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garthmd08

Re: None

Tuesday, 05/04/2010 9:25:30 AM

Tuesday, May 04, 2010 9:25:30 AM

Post# of 160314
CRXX--this is probably what pushed it up.

CombinatoRx Inc. /quotes/comstock/15*!crxx/quotes/nls/crxx (CRXX 1.91, +0.22, +13.02%) received FDA approval for Exalgo, a powerful once-a-day painkiller, on March 2. They have already partnered with Mallinckrodt, a subsidiary of Covidien PLC /quotes/comstock/13*!cov/quotes/nls/cov (COV 47.99, 0.00, 0.00%) , to distribute the drug in North America. Mallinckrodt will start shipping any day. CombinatoRx will be collecting substantial royalties, on top of the $40 million milestone payment they already received from Covidien. The royalty flow will move the stock up. Moreover, I think it is highly likely that Covidien will acquire CombinatoRx by the end of 2011, at a substantial multiple of the current price.
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