Healthcare Biz Recap: Teva’s Counterfeit Problem, Hopes for Bristol-Myers
Scientific researchers have hopes that Bristol-Myers’ (NYSE:BMY) BMS-936558 drug might finally be a way in which to use the immune system to help defeat cancer, especially forms of lung cancer. The drug exhibited encouraging results in an early trial, which if successful could generate $4 billion in sales (and beat cancer as a plus?).
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The FDA has issued a warning concerning a counterfeit version of Teva Pharmaceutical’s (NASDAQ:TEVA) ADHD drug Adderall, which is currently being sold on websites. Although the fake pills might bring a health risk, there are so far no reports of anyone being harmed by their use.
Teva Pharmaceutical and Par Pharmaceutical (NYSE:PRX) lose their bid in court to market Amarin’s (NASDAQ:AMRN) generic form of Lovaza without rivals. Shares of the two firms thus gave back most of Tuesday’s gains, as hopes of the deal are smashed. Goldman chimes in, saying that the ruling regarding patents covering Lovaza ‘eliminates a key upside opportunity’, and that it renders the extent of its impact on growth to be uncertain at this juncture. The analyst maintains its Neutral on the shares.
Blackstone Group (NYSE:BX) intends to divest all or part of Catalent Pharma Solutions, which contracts with pharma firms to produce and package medicine to Frazier Healthcare. Financials of the potential deal are so far undisclosed.
Alkermes (NASDAQ:ALKS) reports that top-line results from a phase 2b dose-ranging clinical study of ALKS 37 in the treatment of opioid-induced constipation failed to satisfy its pre-specified criteria for advancing into phase 3 clinical trials. Alkermes has thus decided to not advance ALKS 37, and will mull opportunities for out-licensing .
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