Johnson & Johnson (NYSE:JNJ): Closing price $72.35
On Thursday, an FDA advisory panel okayed J&J’s canagliflozin, a drug for diabetes that could be the first in a new class of domestic drugs to treat the disease, although several panel members were worried about potential cardiovascular risks and its use in people whose kidneys are impaired. The panel voted 10 to 5, for approval. The drug is part of a new group of drugs that reduces blood sugar by causing blood sugar to be excreted through the urine. Many current treatments work by affecting the supply or use of insulin.
Telik (NASDAQ:TELK): Closing price $2.98
Shares of Telik more than doubled their value on the day Friday, subsequent to a volatility trading halt, on word that the firm was granted orphan drug status for its Telintra for myelodysplastic syndrome.
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AbbVie (ABBV) Closing price $33.85
On Friday, coverage at UBS was begun for the shares at Neutral and a price target of $36. Earnings estimates for 2013 are at $3.08 billion and $3.20 billion for the next year.
Pfizer (NYSE:PFE): Closing price $26.52
Pfizer may ask for an expedited review from the FDA for its treatment to slow a type of incurable breast cancer which is currently in Phase 2 trial, said Bloomberg, citing statements of its head of worldwide research, Mikael Dolsten, who said at a JPMorgan conference that the firm has not yet come to a decision but is “obviously open to dialogues and advice from FDA and the European agencies regarding getting the drug to patients as soon as possible.”
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