Healthcare Business Recap: J&J Seeks Drug Approval, St. Jude Gains on FDA Win
Shares of Pluristem Therapeutics (NASDAQ:PSTI) pop on the news that the use of the its PLacental eXpanded cells saved the life of a child, following a bone marrow transplant failure.
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Gilead (NASDAQ:GILD) shares are up Wednesday following word from the FDA that its HIV treatment Truvada is safe and effective in stopping uninfected people from contracting HIV. However, the agency remains concerned about when and how the drug should be used, and an advisory panel meets Thursday to decide whether Gilead should get to market Truvada as a prophylaxis.
Johnson & Johnson (NYSE:JNJ) submits another FDA approval request for Xarelto, to be approved to use the blood thinner in the reduction of the risk of blood clots developing in heart stents in patients with acute coronary syndrome. The drug has already been authorized for certain use cases.
St. Jude Medical (NYSE:STJ) shares move up following the FDA’s approval of its Ellipse implantable cardioverter defibrillator. More than 200 physicians participated in its design by feedback, and the device offers physicians unique advancements, and is also designed to increase patient comfort and physician ease-of-use. In a separate action, Morgan Stanley upgraded St. Jude to Overweight Wednesday, noting the likelihood that the company should benefit from new cardio markets and reduced Durata concerns.
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