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Shionogi-ViiV Healthcare, a joint venture comprising GlaxoSmithKline (NYSE:GSK), Pfizer (NYSE:PFE) and Shionogi, reports that a Phase III trial of its dolutegravir HIV treatment indicates that it could be more effective than Gilead’s (NASDAQ:GILD) and Bristol-Myers Squibb’s (NYSE:BMY) Atripla drug.
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Dendreon (NASDAQ:DNDN) closes in on its 52-week low, subsequent to being downgraded by Bank of America to Underperform, with its price target cut from $13 to $6. Sales of Provenge are anticipated to disappoint over the next several quarters, which will keep margins red, and worse, the valuation that an acquirer might be willing to pay will be constrained by the weak demand.
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