Shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) [Trend Analysis] swings enthusiastically in regular trading session, it an increase of 6.75% to close at $15.98. Valeant Pharma (VRX) confirmed that the FDA has authorized the Biologics License Application for SILIQ for moderate-to-severe plaque psoriasis. SILIQ is indicated for the treatment of moderate-to-severe plaque psoriasis in adult patients who are candidates for systemic therapy or phototherapy and have failed to respond or have lost response to other systemic therapies.
Plaque psoriasis is the most common type of psoriasis, a chronic, noncommunicable, skin disease. The disease alters the life cycle of skin cells, causing them to build up rapidly on the surface of the skin. SILIQ works by binding to IL-17RA with high affinity, therefore blocking the inflammatory downstream activity of IL-17A, IL-17F, IL-17A/F heterodimer and IL-17E. By targeting the IL-17 receptor, SILIQ prevents skin cells from accumulating. In three clinical studies that have been completed, more than 50% of patients who used SILIQ achieved total skin clearance within a year.Valeant expects to commence sales and marketing of SILIQ in the U.S. in the second half of 2017. Moving forward to saw long-term intention, the experts calculate Return on Investment of 3.70%. The stock is going forward its fifty-two week low with 22.92% and lagging behind from its 52-week high price with -83.46%. VRX last month stock price volatility remained 4.13%.
Granite Real Estate Investment Trust (NYSE:GRP) declared that its board of trustees has declared a distribution on Granite’s stapled units of CDN$0.217 per stapled unit. The distribution will be paid by Granite on March 15, 2017 to stapled unitholders of record at the close of trading on February 28, 2017. The stapled units will begin trading on an ex-dividend basis at the opening of trading on February 24, 2017 on the Toronto Stock Exchange and on the New York Stock Exchange.
As it relates to certain unitholders, Granite confirms that no portion of the above distribution constitutes effectively connected income. A qualified notice providing the breakdown of the sources of the above distribution will be issued to the Depository Trust & Clearing Corporation (DTCC) subsequent to the record date of February 28, 2017, pursuant to United States Treasury Regulation Section 1.1446-4.