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MEDICAL
AaiPharma in default, may delist
The drug maker fell 19% to 6.63 after it failed to file its annual report with the SEC after a 15-day extension. By missing the deadline, it defaulted on $175 mil in loans. Also, securities and federal regulators are expected to subpoena the company about questionable sales practices. Nasdaq said it will delist the stock April 8 for failing to comply with its standards. On Monday, company founder Frederick Sancilio replaced Philip Tabbiner as CEO.
Staar Surgical ups sales outlook
The maker of surgical eye care products expects Q1 revenue of $13.3 mil-$13.5 mil vs. $12.9 mil seen by analysts. Also, the FDA has called its plans to fix quality-control problems "adequate." In Jan., the FDA said it sent the company a warning letter about how it handled complaints regarding its implantable contact lens. Staar rose 22% to 7.37.
Bristol-Myers wants exclusivity
The drug firm submitted 2 studies of ovarian cancer drug Paraplatin to the FDA to make its case for an extra 6 months of marketing exclusivity. ...