Daily Brief Health Care: Eoflow , Legend Biotech Corp, Teladoc Health, Inc. and more

In today’s briefing:

EOFlow: Insulet’s Injunction Doesn’t Thwart Medtronic’s Acquisition
Legend Biotech (LEGN US): Strong Carvykti Sales in Q2; Indication Expansion Is on the Cards
Teladoc Health Inc.: An Expanded Strategic Partnership With Microsoft & Other Major Developments

EOFlow: Insulet’s Injunction Doesn’t Thwart Medtronic’s Acquisition

After Insulet Corp (PODD US) lodged a lawsuit against EOFlow (294090 KS), Flex, inter alia, on the 3rd August, the judge has thrice extended the temporary restraining order.
But the big (ger) news is that a preliminary injunction comes into force today. Shares are down 2.5% as I type.
This latest development should have been expected. And put simply: a proposed preliminary injunction doesn’t prevent Medtronic Plc (MDT US) from acquiring EOFlow.

Legend Biotech Corp (LEGN US) reported six-fold jump in revenue to $73M in 2Q20, driven by strong uptake of the sole commercialized drug, Carvykti, which generated worldwide revenue of $117M.
Label expansion applications have been submitted to the FDA and EMA seeking approval of Carvykti for the earlier treatment of patients with relapsed or refractory multiple myeloma.
Legend Biotech has 11 pipeline programs covering hematologic malignancies and solid tumors. Recent financing activities have fueled the company’s cash balance to $1.5B, which should provide cash runway through 2025.

Teladoc managed to exceed analyst expectations in terms of revenue as well as earnings with a robust result, characterized by a 10% YoY growth in consolidated revenue and consolidated adjusted EBITDA exceeding expectations at $72 million.
Notably, the Integrated Care and BetterHelp segments both performed exceptionally well, with the former seeing 5% YoY revenue growth driven by higher enrollment in the chronic care program.
BetterHelp, the leading player in mental health services, reported an 18% YoY revenue growth in the second quarter, in line with expectations, emphasizing the sustained demand for mental health services.

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