This deal will likely generate $150 million to $200 million in general and administrative and depreciation expense savings annually by 2017. Moreover, this deal is expected to strengthen the product development and service capabilities of Health Net thereby lending the company a competitive edge over its peers. Moreover, this month, Health Net of Arizona, Inc., a subsidiary of the company, signed an agreement with Banner Health Network to enhance health care for its Medicare Advantage (MA) members. Health Net MA beneficiaries will be able to access Banner Health Network's health system that will deliver high quality and coordinated patient care in the Maricopa and Pinal counties. Apart from enhancing health care for Health Net's MA members, the latest agreement strengthens the existing relationship of the company with Banner Health Network. The relentless focus on providing enhanced health care is expected to draw in more number of members for Health Net, thereby making way for more revenue generation. Earlier, the company released its third-quarter earnings, whereby management provided an enhanced membership guidance which also prompted an increase in the revenue guidance. Additionally, the company returned $69 million in the form of share repurchases to its shareholders.
Health Net Hits 52-Week High on Favorable Developments - Analyst Blog - NASDAQ.com
Health Care Sector Update for 12/15/2014: ADXS, AZN, OPK, SHS, PFE - NASDAQ.com
In company news, Advaxis Inc. ( ADXS ) was higher Monday after federal regulators cleared the biotech company to begin Phase I/II testing early next year of its ADXS-HPV anti-cancer therapy either alone or in combination with AstraZeneca's ( AZN ) MEDI4736 drug candidate. ADXS shares were up 15% at $4.35 apiece, just 4 cents off their session high. The stock has traded within a 52-week range of $2.46 to $5.99 a share, declining almost 12% over the past year prior to Monday's advance. Approval of ADXS' Investigational New Drug application by the U.S. Food and Drug Administration allows the company to proceed with a trial to evaluate ADXS-HPV as a prospective treatment for advanced, recurrent or refractory human papillomavirus-associated cervical cancer and HPV-associated head and neck cancer. The company and AZN, through its Medimmune unit, in July announced their plans to collaborate on clinical testing of their respective lead cancer drugs. During the Phase I part of the trial, researchers will conduct a dose-confirmation study of ADXS-HPV as a monotherapy and together with MEDI4736, a human monoclonal antibody that works to counter immune-evading tactics by tumors. The Phase II study will assess the safety and measure the clinical activity of the combination and monotherapy treatments.