Shares of Gilead Sciences rose following a report that the company was approached by U.K. pharma giant AstraZeneca regarding a potential merger.
Maryland-based Novavax snagged $384 in additional grant funding to advance the company’s vaccine candidate against COVID-19.
Shares of ASLAN Pharmaceuticals rose more than 83 percent after the company announced positive preliminary data in an atopic dermatitis study.
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.
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.