Healthcare Business Recap: Roche Gets A RECOMMEND, Varian’s PROBLEMS
Here are Thursday’s top stories:
Roche’s (RHHBY.PK) Lucentis medicine for treating diabetic macular edema gets a recommendation from an FDA panel for expanding its use. The disease is major cause of vision loss among those patients suffering from diabetes. The drug has already been okayed for two other uses, and the agency has additionally approved approves a fully automated vitamin D test that will raise Roche’s list of bone metabolism tests.
Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) move up modestly on the news that the firm might sign a large contract with another pharmaceutical company, rather than issue a secondary offering.
Varian Medical Systems, Inc. (NYSE:VAR) shares slide following its fiscal third quarter beats on earnings, but misses on revenue. Margins improved sequentially, but the firm explained that it’s up against ‘significant currency headwinds’, leading it to decrease guidance for the current quarter. Cantor downgraded the shares to Hold on the results, pointing to a plethora of problems including slowing hospital capital expenditures, worries over Europe and lack of near-term visibility.
Don’t Miss: Pfizer Second Quarter Earnings Sneak Peek.
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