Top-rated drugmakers such as Valeant Pharmaceuticals International (VRX) and Celgene (CELG) have been busy in the lab and on Wall Street, taking part in big merger deals. Today’s IBD 50 list features five top-rated drugmakers. In addition to Valeant and Celgene, the list includes Regeneron Pharmaceuticals (REGN), Lannett (LCI) and Allergan (AGN). On Friday Biogen Idec (BIIB) priced $6 billion of senior notes, a day after Gilead Sciences (GILD)
Big-cap biotech Biogen (BIIB) said Wednesday that it had licensed a drug candidate from Japan’s Mitsubishi Tanabe Pharma for treating multiple sclerosis and other autoimmune diseases, sending Biogen stock rising. The candidate, MT-1303, is an oral S1P modulator, similar to Novartis’ (NVS) MS drug Gilenya and RPC-1063, the late-stage drug candidate that Celgene (CELG) just acquired with its buyout of Receptos. Data from the phase two trial in
It was a wild, wild week for the stock market. But the elite IBD 50, down as much as 12%, closed Friday up 1.8%. Facebook (FB), Apple (AAPL) iPhone supplier Avago Technologies (AVGO), Celgene (CELG) and the IBD 50’s other most liquid stocks — based on average dollar volume — all finished higher, trading just above or below the 50-day moving average, a key support level. But while these stocks are acting well, investors should remember that the