Healthcare Sector Review: ImmunoGen Advances, Johnson & Johnson Recall

ImmunoGen, Inc. (NASDAQ:IMGN): “In the past three months, there have been meaningful advances in both the depth and the breadth of our product pipeline,” commented Daniel Junius, President and CEO. “Among the lead compounds, Roche continues to expect the first trastuzumab emtansine Phase III data presentation and marketing submissions in 2012. Roche now also expects to provide an update on its plans in early stage breast cancer in mid-2012. Sanofi has advanced SAR3419 into Phase II testing, and we’re close to finalizing the dose needed to initiate Phase II testing of our IMGN901 compound.” Junius continued, “We remain on track for two additional ImmunoGen compounds – IMGN529 and IMGN853 – to be in the clinic in the coming months. Our next wholly owned product candidate is advancing just a year behind IMGN853. Our partners also continue to make progress, with two Amgen TAP compounds now having active INDs, patient dosing underway with Bayer’s BAY 94-9343, and BT-062, SAR650984, and SAR566658 continuing to progress.”

The shares closed at $13.83, up $1.26, or 10.02%, on the day. Its market capitalization is $1.06 billion.

Infinity Pharmaceuticals (NASDAQ:INFI) announced interim data from its double-blind, randomized, placebo-controlled Phase 2 study comparing saridegib in combination with gemcitabine to placebo plus gemcitabine in 122 patients with previously untreated, metastatic pancreatic cancer. The primary endpoint of the Phase 2 study is overall survival. While the final analysis is not complete, a preliminary analysis of data from the study that was completed yesterday showed a difference in survival favoring the placebo plus gemcitabine arm due to a higher rate of progressive disease in the saridegib plus gemcitabine arm. The median survival for patients receiving saridegib plus gemcitabine was less than the historical median survival for single-agent gemcitabine of approximately six months, as compared to a median survival for the placebo plus gemcitabine arm of greater than six months. The adverse events observed in both arms were consistent with the known safety profile of each agent, with no unexpected toxicities. Based on this interim analysis, Infinity is voluntarily stopping the trial. The company expects to present the final data after the analyses are complete.

The shares closed at $5.98, down $3.97, or 39.9%, on the day. Its market capitalization is $159.54 million.

IDEXX Laboratories, Inc. (NASDAQ:IDXX) narrowed 2012 revenue view to $1.30B-$1.31B vs. consensus $1.30B. Prior view was $1.30B-$1.32B

The shares closed at $83.46, down $3.85, or 4.41%, on the day. Its market capitalization is $4.69 billion.

Johnson & Johnson (NYSE:JNJ) is issuing a precautionary recall of baby lotion that may have excess bacteria, reports the Associated Press. Consumers have not been affected, but the the company said the FDA found exceeded specifications for bacteria.

The shares closed at $65.56, down $0.14, or 0.21%, on the day. Its market capitalization is $179.03 billion.

Pfizer Inc. (NYSE:PFE) announced that the FDA has accepted its New Drug Application for standard review of bosutinib as a treatment option for adult patients with previously treated Philadelphia chromosome positive chronic myeloid leukemia. This submission was based on efficacy and safety data from Study 200, a single-arm study of bosutinib in over 500 patients with previously treated Ph+ CML, including patients resistant or intolerant to imatinib as well as patients who were previously treated with dasatinib or nilotinib. Currently, there are no approved therapies available for CML patients after second-line treatment with dasatinib or nilotinib.

The shares closed at $21.48, down $0.15, or 0.69%, on the day. Its market capitalization is $165.12 billion.

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To contact the reporter on this story: Stella Mariz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com