Mallinckrodt Plc hired restructuring firms and may choose to seek bankruptcy protection, Bloomberg reported, sending the drugmaker’s shares down 40 percent.

Lundbeck’s shares plunged after announcing the new drug candidate Lu AF35700 for treatment-resistant schizophrenia failed to differentiate itself against conventional therapies in Phase III.

Elanco Animal Health’s shares climbed 36 percent in their stock market debut, in a sign of investor enthusiasm for the fast-growing pet healthcare market.

Shire, a global biotechnology company focused on rare diseases, sold its oncology business to France’s Servier for $2.4 billion.

Japanese drugmaker Daiichi Sankyo denied that it received a takeover bid during 2016 from Britain’s AstraZeneca.

Theranos reportedly failed to notify patients in Arizona about potentially deficient diabetes tests.

OncoGenex is exploring strategic alternatives after its experimental drug failed to show survival benefit in a late-stage study for advanced prostate cancer.

Pfizer reached a $486 million settlement of litigation accusing it of causing big losses for shareholders by concealing safety risks associated with the pain relievers.

A potential miracle drug developed by Biogen failed to meet the endpoints of a Phase II clinical trial.

Cambridge, Mass.-based Biogen, Inc. (BIIB) announced today that it was restructuring, cutting 11 percent of its workforce, and slashing programs. In addition, the company announced that its Phase III ASCEND clinical trial of natalizumab for the treatment of secondary progressive multiple sclerosis (SPMS) failed to hit its primary and secondary endpoints. As part of the […]