Biogen Inc. and Eisai Co. Ltd. are abandoning two late-stage trials for their Alzheimer’s treatment elenbecestat in a widely anticipated move that comes months after the companies scrapped studies of aducanumab for the memory-robbing disease.
Tocagen Inc.’s shares fell nearly 80 percent after the company’s experimental treatment failed to extend life of brain cancer patients in a study, the latest in a series of setbacks for patients awaiting new treatment options for the condition.
Cigna introduced a plan to fully cover costs for expensive gene therapies, eliminating any out-of-pocket payments for customers.
AstraZeneca reported positive results from clinical trial programs for Brilinta and Farxiga, causing stock to jump 3.4 percent.
An Oklahoma judge ordered Johnson & Johnson to pay $572.1 million to the state for the company’s part in fueling an opioid epidemic by deceptively marketing addictive painkillers, a sum substantially less than investors expected, driving up J&J shares.
Amgen will buy Celgene’s psoriasis drug Otezla for $13.4 billion in cash, clearing the way for Bristol-Myers Squibb to go ahead with the company’s $74 billion deal for Celgene by the end of 2019.
Elanco Animal Health agreed to buy Bayer’s veterinary drugs unit in a cash and stock deal valued at $7.6 billion, creating the second-largest maker of medicines for pets and livestock and expanding Elanco’s reach online.
Novo Nordisk’s sales forecast for 2019 was raised due to growing demand for obesity products and a new injectable treatment for diabetes, which is now the company’s growth engine as insulin sales decline.
Sarepta Therapeutics Inc. was informed that an adverse event report was erroneously submitted to the U.S. health regulator regarding an ongoing study of the company’s gene therapy for Duchenne muscular dystrophy (DMD).
Teva Pharmaceutical Industries reported a smaller-than-expected drop in second-quarter 2019 profit and said the chief financial officer was leaving the company.
