Small Cap News Movers for 3/10/10

Abbott (NYSE: ABT) and Facet Biotech Corporation (NASDAQ: FACT) announced a definitive agreement for Abbott to acquire Facet, enhancing Abbott’s early- and mid-stage pharmaceutical pipeline. Abbott will acquire Facet for US$27 per share in cash for a net transaction value of approximately US$450 million, which includes a purchase price of approximately US$722 million less Facet’s projected cash and marketable securities at closing of approximately US$272 million. The stock closed at $27.01, up 66.63%, on 24,336,479 traded shares.

InterMune, Inc. (NASDAQ: ITMN) announced yesterday that the U.S. Food and Drug Administration’s (FDA) Pulmonary-Allergy Drugs Advisory Committee (PADAC) voted 9-3 to recommend approval of Esbriet® (pirfenidone) for the treatment of patients with idiopathic pulmonary fibrosis (IPF) to reduce decline in lung function. IPF is a rare and fatal lung disease that affects approximately 200,000 people in the United States and Europe. If approved by the FDA for commercialization, Esbriet would be the first medication to be made available to IPF patients in the United States. The stock closed at $38.39, up 64.76%, on 15,454,537 traded shares.

Oculus Innovative Sciences, Inc. (NASDAQ: OCLS) today announced that it has received new 510(k) clearance from the U.S. Food and Drug Administration (FDA) for new dermatology indications for Microcyn® Skin and Wound HydroGel. The Rx product, under the supervision of a healthcare professional, Microcyn Skin and Wound HydroGel is intended for management of wounds including itch and pain relief associated with dermal irritation, sores, injuries and ulcers of dermal tissue. The stock closed at $2.69, up 48.62%, on 11,212,239 traded shares.

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