Healthcare Business Recap: Sanofi’s POSITIVE Results, PharmAthene Shares SPIKE
Sanofi (NYSE:SNY) reports positive top-line results from a pivotal Phase III trial for Aubagio, its investigational teriflunomide medication for the treatment of relapsing multiple sclerosis. Annual relapse rates were significantly reduced in patients using the drug.
Don’t Miss: 8 HUGE Winning and Losing Stocks in May.
Shares of PharmAthene (AMEX:PIP) gain more than one fourth of their value Friday, following news that a United States court upheld a ruling that awards it a portion of profits received by Siga Technologies (NASDAQ:SIGA) from its smallpox antiviral drug, ST-246. This decision is the most recent event in what is now a long running legal duel between the two firms.
Sales of Eylea, which is Regeneron’s (NASDAQ:REGN) big cash cow, might be pulling back according to Cowen’s Phil Nadeau, referring to its most recent physician survey. The drug represents the firm’s treatment for a leading cause of blindness in the elderly; growth in the number of patients using the med slowed from 155 percent in the January – March period, to only 22 percent from March to May. Cowen notes the deceleration, and remarks that the stock might be ‘rich at these levels’.
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