Bayer shares fell by as much as 5 percent after a California couple were awarded more than $2 billion in the largest U.S. jury penalty over allegations the company’s Roundup weed killer causes cancer.
Danish drugmaker Novo Nordisk beat first-quarter 2019 operating profit forecasts, helped by higher sales of the company’s biggest new drug hope, a treatment for type 2 diabetes.
Gilead Sciences Inc. said Kite Pharma Inc., the cancer-focused cell therapy company acquired in 2017, will become a separate business unit.
Teva Pharmaceutical Industries posted a slightly smaller than expected drop in first-quarter 2019 profit and forecast a sharp rise in 2020 revenue from the company’s new migraine drug Ajovy.
Novartis raised the company’s 2019 profit target, striking an upbeat tone over a legal fight with peer and partner Amgen and on the safety of a key gene therapy that could win approval in May 2019.
Regeneron Pharmaceuticals is investing $800 million in Alnylam Pharmaceuticals to develop treatments for eye and central nervous system diseases using gene-silencing RNA interference technology.
Shares of Evoke Pharma plunged more than 40 percent after the company announced the U.S. FDA issued a Complete Response Letter regarding the gastroparesis treatment Gimotti.
Shares in Galapagos surged nearly 16 percent after the company reported positive results from several safety and efficacy trials of the Belgian drugmaker’s rheumatoid arthritis drug filgotinib.
AstraZeneca will pay up to $6.9 billion to work with Daiichi Sankyo on a hotly tipped experimental treatment for breast cancer, in a direct challenge to the world’s largest cancer drug maker Roche.
Durham, N.C.-based Precision BioSciences set the company’s initial public offering price at $16 per share, raising $126.4 million.