Vanda sleep drug effective in second late-stage trial

(Reuters) – Vanda Pharmaceuticals Inc said its experimental drug for a rare sleep disorder proved effective in a second late-stage trial, and the company now plans to apply for a U.S. approval for the drug in mid-2013. The study, named Reset, was a 20-patient trial designed to test the maintenance effect of a 20 mg dose of the drug, tasimelteon. Vanda on December 18 said the drug performed better than a placebo in the first of the four planned late-stage trials on the drug. The company’s shares rose as much as 37 percent on that day. …

WellPoint profit beats, but 2013 outlook "prudent"

(Reuters) – WellPoint Inc reported a higher-than-expected fourth-quarter profit on Wednesday, but the second-largest U.S. health insurer said it was taking a “prudent” view of 2013 as it faces industry reform. WellPoint, which sells private health insurance to businesses and individuals and also provides government insurance for the elderly and the poor, is preparing for a round of changes resulting from the U.S. Affordable Care Act. Later this year, states and the federal government will begin selling health insurance on exchanges for 2014, and new insurance taxes are on the way. …

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