Genzyme (GENZ) is up $2.25 to $70.25 after the Wall Street Journal reported late yesterday that Sanofi (SNY) is “increasingly likely” to take a formal buyout offer to Genzyme’s board. Then, CNBC reported this morning that SNY is likely to (register to read more …) [...]

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Genzyme (GENZ) has given up early gains and is down a dime to $67.28 late Tuesday, but is up more than 25 percent since last week’s news that Sanofi Aventis (SNY) might make a bid for the company. Options are (register to read more …) [...]

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Large blocks of out-of-the-money Pfizer (PFE) calls have traded in recent action. Shares are up 21 cents to $15.23 and it includes: 50K Dec 18 calls at 15 cents, 50K Dec 17 calls at 30 cents, 50K Sep 17 calls (register to read more …) [...]

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Forest Labs are down 30c to $28.10 and option volume is 3x the daily average driven by a combination of the September $26 puts and $31 calls which have traded 6,000 contracts in what looks like an opening bullish risk/ (register to read more …) [...]

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Onyx Pharmaceutical shares are off 10c to $20.65 and option volume is 6x the daily average being driven by spread of the Aug. $30/40 call spread which traded 3,100x at 3c. This is likely closing a position 5/11 when shares (register to read more …) [...]

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MannKind (MNKD) gapped higher and is up 61 cents to $6.82 after the FDA said it would review Afrezza, the inhaled insulin product, within six months. The FDA set Dec. 29 as the review date. Shares are up and trading (register to read more …) [...]

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Arena Pharmaceuticals (ARNA) are up 67 cents to $5.33 and have rallied about 36 percent since last Thursday’s news that the FDA rejected Vivus Pharmaceuticals’ Qnexa obesity drug. Arena currently has its own fat pill under review. Options action remains (register to read more …) [...]

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Vivus Pharmaceuticals (VVUS) hit a morning high of $12.75 and was recently up $1.53 to $12.18 after briefing documents from an FDA staff review stoked optimism of approval of the company’s fat pill, QNEXA. The stock is off its highs (register to read more …) [...]

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Orexigen Therapeutics (OREX) is up 78 cents to $4.94 after the FDA said that Vivus Pharmaceutical’s obesity drug QNEXA is effective. According to Reuters, the action “could also signal what’s ahead for Arena Pharmaceuticals and Orexigen Therapeutics, two other obesity (register to read more …) [...]

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Update: 15:55: FDA changed release date of Vivus’ Qnexa review to July 13, Bloomberg says

Options action is picking up in Vivus (VVUS) ahead of the FDA staff review for obesity drug Qnexa Monday, July 12 and an FDA outside panel (register to read more …) [...]

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