Midnight Trader Health Care Sector Report 3/5/2010
Health care issues are largely stronger before the bell Friday, and OSI's (OSIP) fifth-largest shareholder OrbiMeb Advisors said that Astellas Pharma will need to raise its $3.5 billion bid for OSI by 15%. Astellas sued OSI this week for rejecting its offer. Meanwhile, SurModics (SRDX) is sliding as it announced it would take a restructuring charge of $900,000 to $1.5 million in the second quarter. The company also said it would close its sales office in Irvine, California.