Healthcare Biz Recap: FDA PROBES Pfizer’s New Drug, Ventrus Biosciences ABANDONS Treatment
Shares of Bristol-Myers Squibb (NYSE:BMY) and Pfizer (NYSE:PFE) slide Monday as the FDA requests additional information regarding their new-drug application for Eliquis, which helps prevent strokes in patients suffering from nonvalvular atrial fibrillation. The agency is seeking an update on data management and verification from an evaluation of the treatment, but so far no request for a new trial.
Ventrus Biosciences (NASDAQ:VTUS) shares lose more than half their value, following word that the firm’s iferanserin drug for hemorrhoidal disease could not meet the primary end points of a phase 3 trial, the elimination of bleeding, itching and pain. The company will abandon the treatment, and will concentrate on its other compounds in its place.
Momenta Pharmaceuticals (NASDAQ:MNTA) craters Monday following an unfavorable ruling over the weekend in patent litigation brought by Teva (NASDAQ:TEVA), over the drug Copaxone. However, Oppenheimer is confident as to the stock’s long-term value, looking past the current near-term setback.
Investing Insights: McCormick & Co Second Quarter Earnings Sneak Peek.
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