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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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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‘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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PBMs will be all right after Trump administration proposal to curb drug rebates, analysts say

Shares of Cigna Corp. CI, -2.13% CVS Health Corp. CVS, -0.32% and UnitedHealth Group Inc. UNH, -0.60% were down Friday, reflecting investors’ anxiety about how the Trump administration’s proposal to eliminate billions of dollars in rebates would affect pharmacy-benefit managers. But health care analysts aren’t too worried. The proposal, announced Thursday by the U.S. Department of Health and Human Services, would eliminate […]

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Canopy Growth-backed pot company lists on CSE, valued at $480 million

Slang Worldwide Inc. listed on the Canadian Securities Exchange Tuesday and investors valued the Canopy Growth Corp. CGC, -7.17%WEED, -6.96%-backed cannabis branding and distribution business at C$645 million ($480 million). Slang listed at C$1.50 and closed up 33% at C$1.99 Tuesday, according to CSE data. According to the company’s listing documents, it logged net losses of C$23.6 million on pro […]

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