Healthcare Business Recap: Pfizer Advances Restless Drug, ISTA Rejects Valeant Proposal

“Significant” advantages in comparison to a placebo and pramipexole have been found in a Phase III study of the drug Lyrica in treating restless leg syndrome, according to Pfizer (NYSE:PFE). The company says more analysis of the results will come.

FDA approval for routine prophylaxis of Advate hemophilia treatment has been granted to Baxter International (NYSE:BAX) following good results from a Phase IV study.

Don’t Miss: Static Consumer Prices Signal Cooling Inflation.

Pharmasset’s (NASDAQ:VRUS) announcement that it will halt Phase 2b trials of its hepatitis drug PSI-938 prompted boons for other hepatitis-related companies today. “Laboratory abnormalities associated with liver function” were found in patients using the drug, leading to its testing discontinuance.

In an 18% fall from its close on Thursday, MELA Sciences‘ (NASDAQ:MELA) 5M share secondary placement priced at $3.25. MELA, which produces medical devices, aims to bring MelaFind—its product for identifying melanoma—to market following fundraising.

Valeant Pharmaceuticals‘ (NYSE:VRX) $6.50/share proposal to ISTA Pharmaceuticals (NASDAQ:ISTA) has been turned down by the latter company’s board, as the offer was found to be “grossly inadequate.”

Don’t Miss: Congress Reaches Spending Deal to Avert Shutdown.