ACADIA Pharmaceuticals Inc. & SUPERVALU Inc. Announcements: (NASDAQ: ACAD), (NYSE: SVU)

New York, NY -- (SBWIRE) -- 03/22/2013 -- ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) announced that Jeffrey Cummings, M.D., Sc.D., Director of Cleveland Clinic Lou Ruvo Center for Brain Health, presented detailed results from ACADIA’s pivotal Phase III -020 Study with pimavanserin in patients with Parkinson’s disease psychosis at the Emerging Science session of the 65th American Academy of Neurology (AAN) Annual Meeting.

The analysis of the full data set from the Phase III -020 Study showed robust and consistent efficacy of pimavanserin across a wide array of study measures and confirmed the positive top-line results previously reported.

“The significant and consistent results observed across measures in the Phase III -020 Study are impressive and potentially very encouraging for Parkinson’s patients who suffer from the psychosis frequently associated with this disease,” said Dr. Jeffrey Cummings.

Find out if this announcement could benefit ACAD in the very short term here: http://www.wallstreetscoop.net/market-scan/?symbol=ACAD

SUPERVALU Inc. (NYSE: SVU) announced it completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management L.P.-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.

Operations for these banners will transfer overnight, and the new SUPERVALU will open for business on Friday as a more efficient wholesale and retail company with annual sales of approximately $17 billion.

As part of the transaction, SUPERVALU also announced that Symphony Investors, a Cerberus-led investor consortium, completed its tender offer resulting in the acquisition of 11,686,406 shares (approximately 5.475 percent of SUPERVALU’s outstanding common stock) at a purchase price of $4.00 per share in cash.

Find out more on SVU here:
http://www.wallstreetscoop.net/market-scan/?symbol=SVU

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