Winston-Salem, NC -- (SBWIRE) -- 10/22/2013 -- EC Development (OTC: ECDI) $0.06. Announced Monday after market close that it has developed a customized interface to communicate with and provide complete casino management system functionality to the legacy electronic gaming machines (the majority of games present) which populate the slot parlors, locally known as "banca’s", throughout the Dominican Republic.
Previously, traditional casino management systems could not be linked to banca’s; however, the innovative team at EC Development, with its partners in the Dominican Republic, has developed a software and hardware interface that allows for all the security, accuracy and real-time availability to all data which the games generate allowing management to offer enhanced player experience and, at the same time, gain increased security as well as real-time accurate accounting.
Presently, EC Development is deploying the new system throughout Santo Domingo in a series of trials for local banca owners.“Our new system has been received with great excitement by the owners and managers of the thousands of bancas through the Dominican Republic,” said Gene Estep, CEO of EC Development. “We are pleased to be able to help offer them the benefits of a full casino management system.”
What They Do: EC Development designs, develops and markets software for the U.S. and international gaming and casino markets. The software monitors, audits, analyzes and manages all financial transactions and customer activities for casinos and other gaming related environments.
Pain Therapeutics (Nadaq: PTIE) $3.25. Today announced Pfizer Inc. has informed us that, having achieved technical milestones related to manufacturing, they will continue the development program for REMOXY (oxycodone) Extended-Release Capsules CII.
We also were informed that, following guidance received from the U.S. Food and Drug Administration (FDA) earlier this year, Pfizer will proceed with the additional clinical studies and other actions required to address the Complete Response Letter received in June 2011. These new clinical studies will include, in part, a pivotal bioequivalence study with the modified REMOXY formulation to bridge to the clinical data related to the original REMOXY formulation, and an abuse-potential study with the modified formulation.
The FDA did not require any further drug efficacy trials. As previously disclosed, the complete response submission is not expected to occur prior to mid-2015.
What They Do: Pain Therapeutics, a biopharmaceutical company, develops novel drugs. Its lead drug candidate is REMOXY (oxycodone) Extended-Release Capsules CII, an investigational drug with a controlled release formulation of oxycodone for patients with moderate-to-severe chronic pain.
Depomed (Nasdaq: DEPO) $7.23. Announced Monday after market close that it has sold its interests in royalty and milestone payments under its license agreements in the Type 2 diabetes therapeutic area to PDL BioPharma, Inc. for $240.5 million. Depomed intends to use the sale proceeds to acquire products that will drive long-term growth and build on the company's commercial expertise in pain and neurology.
The interests sold include royalty and milestone payments accruing from and after October 1, 2013: (a) from Santarus with respect to sales of Glumetza (metformin HCL extended-release tablets) in the United States; (b) from Merck with respect to sales of Janumet XR (sitagliptin and metformin HCL extended-release); (c) from Janssen with respect to potential future development milestones and sales of its investigational fixed-dose combination of Invokana (canagliflozin) and extended-release metformin; (d) from Boehringer Ingelheim with respect to potential future development milestones and sales of the investigational fixed-dose combinations of drugs and extended-release metformin subject to Depomed's license agreement with Boehringer Ingelheim; and (e) from LG and Valeant for sales of extended-release metformin in Korea and Canada, respectively.
What They Do: Depomed, Inc. is a specialty pharmaceutical company that commercializes products for pain and neurology related disorders.
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