Healthcare Business Recap: Gilead’s FDA Halo, Pfizer Cuts Deals
Shares of Gilead (NASDAQ:GILD) continue to rise subsequent to Thursday’s FDA advisory panel approval of the firm’s HIV drug Truvada for use as a preventative measure in high-risk individuals. The report added that the potential benefit of the treatment is not undone by the possible risk of misuse or the of the virus developing resistance to the treatment. The full FDA is expected to make its decision by June 15.
Sales of a generic version of Pfizer’s (NYSE:PFE) Lipitor will be initiated by Mylan (NASDAQ:MYL) in the United Kingdom, Belgium, France, Ireland and in the Netherlands, once given approval by each country’s regulators. Atorvastatin Calcium serves as a generic version of Lipitor drug used in the prevention of heart attacks. Mylan shares move up in response to the news.
Medical diagnostics equipment producer Alere (NYSE:ALR) revealed that it has had discussions with the FDA regarding worries about quality testing and performance characteristics on Alere Triage products. Shares bottomed as Alere expects a resolution will involve a recall of unexpired lots of Triage products which don’t satisfy a quality control release method.
Greenway Medical Technologies (GWAY) handily smashes consensus with its fiscal third quarter figures on Thursday, and its shares behave similarly on Friday. Total revenue exploded by more than 50 percent due to strong sales, while improved cost controls helped out the bottom line.
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