Shares of Sarepta Therapeutics Inc. plunged 14 percent after the U.S. health regulator, in an unexpected move, declined to approve the drugmaker’s newest treatment for a muscle-wasting disorder.
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.
An unnamed Novartis executive sold 925,400 Swiss francs ($946,000) worth of shares less than three weeks before the U.S. Food and Drug Administration announced data from tests of the company’s gene therapy Zolgensma had been manipulated.
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).
Shares of Cambrex Corp. were up more than 46 percent in trading after the company announced an agreement to be acquired by an affiliate of the Permira funds for $60 per share, totaling $2.4 billion.
Teva Pharmaceutical Industries reported a smaller-than-expected drop in second-quarter 2019 profit and said the chief financial officer was leaving the company.
Biogen Inc. reported better-than-expected second quarter 2019 profit and raised the company’s full-year earnings forecast, driven by higher sales of the top-selling multiple sclerosis drug Tecfidera and lower taxes.
Acadia Pharmaceuticals Inc.’s add-on treatment pimavanserin for schizophrenia failed to meet the main goal in a late-stage study.
A collaboration and license deal was inked with Gilead Sciences Inc. to develop and market a long-acting injectable HIV therapy using Durect Corp.’s SABER technology.