FDA Okays New J&J Hepatitis C Drug for Safety and 2 Other Dow Movers to Watch
Johnson & Johnson (NYSE:JNJ): Current price $92.14
On Tuesday, FDA reviewers said that Johnson & Johnson’s new hepatitis C drug indicated an acceptable safety profile in clinical trials. The drug, simeprevir, was evaluated in combination with standard hepatitis C drugs, peginterferon-alpha, and ribavirin in adult patients who had failed prior interferon-based therapy or had not received any medication. The reviewers announced that the drug would be categorized as a “Pregnancy Category C” in labeling, meaning that the potential benefits of the drug may indicate its use for pregnant women, even though animal trials showed the drug had a few adverse effects on a fetus.
Wal-Mart Stores Inc. (NYSE:WMT): Current price $75.92
In South Africa, the food and goods wholesaler Massmart Holdings Ltd., owned by Wal-Mart, has been blocked from expanding its product line at a Cape Town mall following a court ruling that favors the number-one grocer in Africa, Shoprite Holdings Ltd. The Western Cape High Court found that Shoprite had an exclusivity clause in its lease contract with the CapeGate mall in Cape Town, according to an emailed statement from the Massmart corporate affairs chief Brian Leroni, who also said that his company will appeal the decision, which disallows any new entrant selling certain types of perishable food.
General Electric Co. (NYSE:GE): Current price $26.07
On Tuesday at the Kormarine International Shipbuilding and Marine Equipment Exhibition in Busan, South Korea, GE Marine reported the sale of three 16V250 marine diesel engines: two engines to Dongwon Industries, which is one of the world’s biggest tuna fishery firms; and one engine to Hansung Enterprises, a Korean seafood and fishery company. The GE Marine engines will power 80-meter-long tuna purse seiners. The engines are International Maritime Organization Tier II and Korean Register of Shipping certified and set for commissioning early next year.