Teva Wins FDA Approval, Galena Sees Positive Data: Healthcare Business Wrap

Teva Pharmaceutical Industry’s (NYSE:TEVA) Synribo wins FDA approval for the treatment of adults suffering from chronic myelogenous leukemia, which is a blood and bone marrow disease. The drug is intended for use in patients whose cancer has progressed subsequent to treatment with a minimum of two drugs from a class called tyrosine kinase inhibitors, that is also used to treat the disease.

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Shares of Galena Biopharma (GALE) jumped on the news of positive data from its phase 1/2 clinical trial of tumor drug NeuVax, which indicated that it exhibited a consistent reduction of circulating tumor cells in vaccinated patients. The final trial results will be presented at the San Antonio Breast Cancer Symposia in December.

Specialty pharmaceutical firm Columbia Laboratories (NASDAQ:CBRX) fall over the cliff Friday following the FDA’s rejection of Watson Pharmaceuticals (NYSE:WPI), in its formal dispute-resolution request linked to its new-drug application for Prochieve, which is a treatment for the prevention of preterm birth. for its part, Watson pledges to review possible options to continue its pursuit of the drug’s development.

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