Here’s your Cheat Sheet to the week in Dow 30 business news:
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
Johnson & Johnson’s (NYSE:JNJ) Janssen-Cilag International reports that the oral once-daily medication Zytiga has been granted a positive opinion recommending approval by the Committee for Medical Products for Human Use of the European Medicines Agency for its use combined with prednisone or prednisolone for treating metastatic castration-resistant prostate cancer in adult men who are asymptomatic or mildly symptomatic subsequent to failure of androgen deprivation therapy and in whom chemotherapy is not yet clinically indicated. Upon endorsement by the European Commission, the recommendation would broaden the indication for Zytiga, which is currently approved for use in combination with prednisone/prednisolone to treat men with mCRPC, whose disease has progressed on or after a docetaxel-based chemotherapy regimen.
JPMorgan Chase & Co. (NYSE:JPM): Since China’s domestic stock market remains weak, that country lowered its capital-reserve requirement for securities firms and also broadened the range of financial products in which they may invest, says the Wall Street Journal. Under the new numbers, brokerages which engage in asset management now must set aside 1 to 2 percent of the amount under management as reserves, which is down from the previous 2 to 4 percent, reports the China Securities Regulatory Commission.
Pfizer (NYSE:PFE) reports that top-line results of a double-blind Phase 3 study evaluating pregabalin controlled-release formulation in patients with fibromyalgia show that pregabalin CR had a statistically significant positive effect when compared with placebo in the primary endpoint time to loss of therapeutic response. This evaluation is the second of three Phase 3 studies of the pregabalin CR formulation to release top-line findings, through which to ascertain the potential use of pregabalin as a once-a-day therapy, with the results of the first study in adults with partial onset seizures with epilepsy having failed to meet its primary endpoint. The final study in post-herpetic neuralgia is currently proceeding and the firm will examine further results of all three studies as soon as the data are available.