Good clinical-trial news rolled in for leading drugmakers Wednesday, helping to buoy the group’s recovery on the stock market. Big pharma Pfizer (PFE) said early Wednesday that it had stopped a phase-three trial of its drug Ibrance early because it had already hit its endpoint in patients with metastatic breast cancer. Ibrance was FDA-approved in February based on a similarly successful trial combining it with Novartis ‘ (NVS) Femara as a
When the FDA last month approved the first biosimilar drug, the U.S. took its first step into a lucrative but potentially disruptive field of medicine. Pfizer (PFE), which is moving big into biosimilars with its $17 billion acquisition of Hospira (HSP), has estimated that global biosimilar sales could hit $17 billion to $20 billion a year by 2020. That’s vs. just $1 billion now, with those sales mainly in the European Union. With the
Akorn (AKRX) is breaking out on the stock market today, boosted by a bullish initiation report. It could also be getting a lift from optimism for more buyouts in the industry: Pfizer (PFE) announced on Thursday that it’s buying injectable-drug maker Hospira (HSP) for $17 billion. Check out this video to get all the details about top-performing stock Akorn — it’s in buy range. Follow Alissa Williams on Twitter: @IBD_AWilliams.