Biogen stock plummets 28% after company halts Alzheimer’s trials

Shares of pharmaceutical giant Biogen Inc. plunged 28% on Thursday morning after the drugmaker said it would discontinue its Phase 3 trials of aducanumab, an investigational drug designed to slow cognitive decline in patients with early Alzheimer’s disease. The move has put the stock on track for its biggest one-day percentage slide since August of 2008. Biogen BIIB, -29.17% and […]

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Shares of Sage Therapeutics up on Zulresso approval, but analysts expect a slow rollout

Shares of Sage Therapeutics Inc. SAGE, +0.49% rose 3% Wednesday morning after the company said that the U.S. Food and Drug Administration had approved its drug for the treatment of postpartum depression. Wall Street largely expected the drug’s approval, which was based on two Phase 3 studies that evaluated patients with either moderate or severe postpartum depression. Those trials showed that […]

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OxyContin maker Purdue Pharma reportedly considers bankruptcy to protect from lawsuits

OxyContin maker Purdue Pharma is considering filing for bankruptcy protection to protect itself from potential liability from more than 1,000 lawsuits, according to a new report. The Wall Street Journal said Monday the company has hired at least two companies known as restructuring advisers, and added a restructuring specialist as chairman of its board. While the Connecticut-based company has no […]

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Medicare would cover CAR-T cell therapies under new CMS proposal

A new proposal from the Centers for Medicare & Medicaid Services would have Medicare cover FDA-approved CAR T-cell therapies, according to a Friday announcement from the agency. CAR T-cell therapy is a new form of cancer therapy that harnesses a patient’s own immune system to fight the disease. There are currently only two approved CAR-T cell therapies, Novartis’s NVS, +0.65% […]

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Gilead stock down nearly 4% as drug trial fizzles

Gilead Sciences Inc. GILD, +0.22% shares fell 4% in the extended session Monday after the pharma company said a late-stage, placebo-controlled study designed to evaluate a type of chronic liver disease drug, Selonsertib, did not meet its desired outcome without worsening the patients’ condition. "While we are disappointed that the STELLAR-4 study did not achieve its primary endpoint, we remain […]

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‘Miracle’ 24-hour flu pill Xofluza foiled by resistant strains

TOKYO—A new pill that can kill the flu virus in 24 hours with a single dose has become the most-prescribed influenza treatment in Japan, which is suffering through its worst flu season in two decades. The pill, called Xofluza, was discovered by Osaka-based Shionogi4507, -2.70% and it was approved last year by regulators in Japan and the U.S. In the U.S., […]

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‘Totally outrageous’ and ‘great job’: What lawmakers are saying about Trump’s State of the Union address

Democrats slammed President Donald Trump over his comments about “ridiculous partisan investigations” in his State of the Union speech on Tuesday night, as a key Republican said the commander-in-chief hit the right notes on his proposed border wall. Rep. Lloyd Doggett of Texas said Trump’s comment about probes was “totally outrageous” — a sentiment echoed by other Democrats who saw […]

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Pain Therapeutics stock plunges after company slams FDA for refusing to approve drug

Shares of biotech Pain Therapeutics Inc. PTIE, -8.05% fell 18% Tuesday after the company released a statement railing against the U.S. Food and Drug Administration’s refusal to approve drug candidate Remoxy, an extended-release form of oxycodone that the company says has abuse-deterrent qualities. Pain Therapeutics accused the FDA of making “math errors, material mistakes or misrepresentations” during its June advisory committee […]

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