Healthcare Business Report: Celgene’s Abraxana Win, Watson’s FDA Approval
Celgene Corporation (NASDAQ:CELG) shares close green on the day following approval by United States regulators of its Abraxana medication, which is a first-line treatment of advanced non-small cell lung cancer in patients who are not being treated surgically or with radiation therapy.
FDA approval is awarded to Watson Pharmaceuticals (NYSE:WPI) for its Abbreviated New Drug Application for Irbesartan Tablets, a treatment for hypertension and diabetic nephropathy. The drug is the generic equivalent to Sanofi’s (NYSE:SNY) Avapro, which during the 12 months that ended on August 31st, along with its generic equivalents, saw total domestic sales of around $390 million. Watson intends to start shipping immediately.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
NPS Pharmaceuticals (NASDAQ:NPSP) shares move up as investors perceieve potential approval of a drug for a condition that shuts down the ability to absorb nutrients or fluids. Investors bid the stock upwards, following the release of briefing documents prior to the meeting of an important government panel next week, which is expected to support the approval of the drug Gattex.
Investing Insights: Here are 5 Biopharmaceutical Companies on the Rise.