Healthcare Sector Review: Watson Files for FDA Approval, Biosimilar Drug Guidelines
Johnson & Johnson (NYSE:JNJ), Pfizer Inc. (NYSE:PFE), Amgen, Inc. (NASDAQ:AMGN): The FDA released guidelines for the first shortcut to the U.S. market for “biosimilar” drugs, less expensive versions of expensive and complex medicines made from biological matter.
JNJ shares closed at $64.60, down $0.29, or 0.45%, on the day. Its market capitalization is $176.41 billion.
PFE shares closed at $21.05, down $0.09, or 0.43%, on the day. Its market capitalization is $161.81 billion.
AMGN shares closed at $67.36, up $0.52, or 0.78%, on the day. Its market capitalization is $53.62 billion.
Merck & Co., Inc. (NYSE:MRK): Watson Pharmaceuticals (NYSE:WPI) confirmed that its subsidiary, Watson Laboratories, filed an Abbreviated New Drug Application with the U.S. Food and Drug FDA seeking approval to market Drospirenone and Ethinyl Estradiol and Levomefolate Calcium Tablets, 3.0 mg/0.02 mg/0.451 mg and Levomefolate Calcium Tablets, 0.451 mg. Watson’s ANDA product is a generic version of Bayer HealthCare Pharmaceuticals’ (BAYRY) Beyaz. Beyaz is an oral contraceptive indicated for use by women to prevent pregnancy, treat symptoms of premenstrual dysphoric disorder for women who choose to use an oral contraceptive for contraception, treat moderate acne for women at least 14 years old only if the patient desires an oral contraceptive for birth control, and raise folate levels in women who choose to use an oral contraceptive for contraception.
The shares closed at $37.91, down $0.24, or 0.63%, on the day. Its market capitalization is $115.55 billion.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.