Acquisition-hungry Valeant Pharmaceuticals (VRX) rose more than 5% in the stock market today to a record high, despite weak Q3 earnings guidance, after neatly stepping over analysts’ second-quarter revenue and earnings expectations. Valeant was one of several drugmakers and biotechs to report Thursday morning, including Celgene (CELG), Eli Lilly (LLY), Shire (SHPG) and Bristol-Myers Squibb (BMY) . The Laval, Quebec-based drugmaker said total
Shares of Biogen (BIIB) and Eli Lilly (LLY) were both moving as they reported data on their key drug candidates for Alzheimer’s disease Wednesday, while Wall Street debated the meaning of the results. Biogen’s aducanumab was the particular focus of attention. At the Alzheimer’s Association International Conference (AAIC), the company reported the effects of aducanumab on patients with mild or prodromal (i.e. even earlier than mild) Alzheimer’s
Drug giant Teva Pharmaceutical Industries (TEVA) reported success in midstage testing for its new migraine drug Thursday, offering investors the first data on episodic migraine in particular. Results seemed to be in line with expectations, however, as the stock was flat in midday trading. Teva’s TEV-48125 is a CGRP antibody, one of a new class of migraine treatments also being developed by Alder Biopharmaceuticals (ALDR), Eli Lilly (LLY) and Amgen