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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Vertex terminates COO for ‘personal behavior’

Vertex Pharmaceuticals Inc. VRTX, -2.06% announced Wednesday afternoon that Chief Operating Officer and interim Chief Financial Officer Ian Smith had been terminated as "the result of personal behavior that violated Vertex’s Code of Conduct and values." Vertex said that the decision was made after an investigation that included the help of outside counsel, but did not specify Smith’s actions. "At […]

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