Healthcare Business Roundup: Achillion Moves Up On Peer Success, Pfizer Completes Trial
Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) move up modestly on the day due to a price target raise by Deutsche Bank to $17 from $12. The analysts believe that liver abstracts from Bristol-Myers Squibb Company (NYSE:BMY) and Abbott Laboratories (NYSE:ABT) are positives for the future success of Achillion’’s two drug combo regimens for the treatment of hepatitus C virus. Deutsche made similar comments on Monday regarding Gilead Sciences (NASDAQ:GILD).
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Pfizer (NYSE:PFE) has completed a double-blind, placebo-controlled, randomized clinical trial that was designed to evaluate the efficacy and safety of Chantix/Champix 1 mg, BID in comparison to placebo, for smoking cessation in patients having a past or present diagnosis of Major Depressive Disorder. The trial met its primary and secondary efficacy endpoints. Additionally, psychiatric scales included for safety assessments did not indicate a difference between varenicline and placebo.