Amgen (AMGN) stock was up 2.5% in afternoon trading on the stock market today after the company presented five studies on its new cholesterol drug over the weekend. Results eased safety concerns raised earlier in the month. Competitors Regeneron (REGN), Sanofi (SNY), Pfizer (PFE) and Bristol-Myers Squibb (BMY) also presented data, but their shares were up a fraction or flat Monday afternoon. At the American College of Cardiology meeting, Amgen
An executive with Bristol-Myers Squibb (BMY) said Tuesday that the company is planning a phase-three trial of its drugs nivolumab and Yervoy to treat lung cancer. The company’s stock rose nearly 6% on the news on the stock market today. At the Cowen & Co. Health Care Conference, Bristol Senior Vice President Brian Daniels responded to a question about the lung-cancer program by saying that “from the overall wealth of data, we believe we’re gaining
Generic drug giant Actavis agreed to buy Forest Laboratories for $25 billion in cash and stock Tuesday, making for the biggest deal yet in specialty pharma’s recent consolidation boom. Both stocks jumped on the news. Actavis (ACT) said the combined firm will have about $15 billion in annual sales, rivaling big pharma Bristol-Myers Squibb (BMY). Sales will be roughly split between branded and generic drugs. Actavis will pay $26.04