Healthcare Biz Recap: Pfizer REJECTION, Alexion in the Big Leagues

Shares of Bayer (BAYRY.PK) slip, but Onyx Pharmaceuticals (NASDAQ:ONXX) moves up following word that a Phase 3 trial of Nexavar tablets in patients with certain lung cancers failed to meet its primary endpoint of improving overall survival.

Investing Insights: Medtronic Earnings: Rising Revenue Helps Margins Expand, Profit Rises.

Pfizer’s (NYSE:PFE) Tafamidis, a drug for the treatment of a rare neurodegenerative disease, gets recommended for rejection by FDA reviewers, as the data failed to indicate that it works sufficiently. On Wednesday an advisory panel will vote, followed by a final FDA decision at a later date.

Arena Pharmaceuticals (NASDAQ:ARNA) move up then settle back, following Monday’s completion of the firm’s secondary public offering, and the underwriters’ exercising of their option of buying additional shares. The offering resulted in 12.65 million shares being sold at $5.50, which brought nearly $70 million.

Shares of Australian biotech Genetic Technologies (NASDAQ:GENE) go into orbit after word is made known of a positive business update for BREVAGen, which is used to test for certain genetic variations that are associated with an increased risk of developing breast cancer.

Alexion Pharmaceuticals (NASDAQ:ALXN) shares jump following the decision by S&P to replace those of Motorola Mobility (NYSE:MMI) with them in the S&P 500 index, after the close on Thursday.

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Earnings Report: PetSmart Earnings: Higher-Than-Expected Net Income.