Healthcare Business Recap: Lilly Meets Goal, Amedisys Plunges On Deal
Merck’s (NYSE:MRK) odanacatib osteoporosis drug has significantly strengthened hip and spine bone mineral density in a phase two trial of post-menopausal women, who had prior to the test taken the firm’s Fosamax treatment. A spokesperson remarked “Odanacatib may be a viable alternative for patients who need continued therapy and who want benefits beyond what they (already) received.”
Eli Lilly and Company’s (NYSE:LLY) ramucirumab drug for gastric cancer has met its main goal of improving overall survival in a Phase III study. The treatment at the same time increased survival without the cancer becoming worse.
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Shares of Amedisys (NASDAQ:AMED) plunge on word that the firm renews its agreement to supply home health services to Humana (NYSE:HUM), and then reported that revenue from the arrangement will be half the yearly range of between $65 million and $70 million that it’s brought in so far. The agreement will bigin to impact revenues in the fourth quarter.