Leerink said it thinks Ignyta's (RXDX) acquisition of 4 oncology assets from Teva (TEVA) could further differentiate the company from oncology peers and the firm continues to view Ignyta as its top pick in 2015. Leerink raised its price target on Ignyta shares to $17 to reflect the new assets and maintains its Outperform rating on the stock.

Vanda Pharmaceuticals "announced that the Supreme Court denied Vanda's petition for a writ of certiorari in its HETLIOZ(R) Abbreviated New Drug Application litigation against Teva Pharmaceuticals USA, Inc., Apotex Inc. and Apotex Corp." CEO Mihael H. Polymeropoulos stated: "We are disappointed that the Supreme Court has decided not to hear our case and clarify the lower court standard for obviousness in patent law. However, we are pleased that our case has drawn attention to an area of law that has broad and significant implications in life sciences innovation."