2 Dow Healthcare Darlings Up Over 5% in 2013
Here’s your Cheat Sheet to the week in Dow 30 drug stock news:
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Pfizer (NYSE:PFE): Current price $26.54
The firm reported that Quillivant XR CII for extended-release oral suspension is now available in the United States for treatment of attention deficit hyperactivity disorder. Quillivant XR is the first once-daily, extended-release liquid methylphenidate for ADHD and now can be had by prescription.
Pfizer’s partner GlycoMimetics has finished the enrollment of patients in its Phase 2 study of GMI-1070, its lead investigational drug candidate. This randomized, double-blinded study evaluated the efficacy, safety and pharmacokinetics of GMI-1070 in hospitalized sickle cell disease patients experiencing vaso-occlusive crisis. GlycoMimetics has enrolled 76 patients from ages 12 to 65 at 22 trial sites in the United States and Canada. The company expects to report topline data in the second quarter.
On Friday, Pfizer reported that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion concerning the conditional marketing authorization of bosutinib in the European Union for the treatment of adult patients suffering from chronic phase, accelerated phase, and blast phase Philadelphia chromosome positive chronic myelogenous leukemia previously treated with one or more tyrosine kinase inhibitor, and for whom imatinib, nilotinib and dasatinib are not considered appropriate treatment options. The CHMP’s positive opinion will be evaluated by the European Commission, which has the authority to approve medicines for the EU. Pfizer expects a decision from the Commission in the coming months.
Johnson & Johnson (NYSE:JNJ): Current price $73.23
Johnson & Johnson is experiencing manufacturing difficulties of Tylenol and the matter has disrupted supplies for more than three years. CVS Corporation (NYSE:CVS) is presently only obtaining sufficient amounts to stock around half of its 7,400 domestic stores, so it has changed the stocking procedure to eliminate empty spots on shelves where the medication should have been, says Reuters.
The company is scheduled to post its fourth quarter results before the open on Tuesday, with a conference call scheduled for 8:30 am ET. Analysts anticipate earnings of $1.17 on revenue of $17.67 billion, says First Call.