Momenta Pharmaceuticals’ (MNTA) stock dropped 8% Thursday after UBS downgraded it to sell, saying the company’s recent good news has already been priced into the stock. Analyst Marc Goodman wrote that last month’s launch of Momenta’s and partner Novartis’ (NVS) generic version of Teva Pharmaceutical’s (TEVA) blockbuster Copaxone should drive near-term earnings growth, but he says the doubling of the stock price this year has also been driven by
A drug for arthritic knee pain being developed by Xenon Pharmaceuticals (XENE) and Teva Pharmaceutical Industries (TEVA) failed a midstage trial Wednesday, sending Xenon’s stock way down, though Teva remained buoyant. The drug, TV-45070, proved safe and tolerable but didn’t do better than the placebo in reducing pain. The companies are also conducting a midstage trial of the drug in post-herpetic neuralgia (PHN), or pain lingering after a case of
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