Stockwatch: Awkward Developments Pricking J.P. Morgan Bubble
The warm fuzzy feeling in life sciences in the week before the J.P. Morgan Healthcare Conference was rudely threatened by clinical trial results from Halozyme and Heron, and negative financial preannouncements from Heron and Teva.
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News in the life sciences sector over the holiday period was peppered with clinical and regulatory failures at Acadia, Anthera, Opko and Cempra, and a drug pricing controversy from Biogen. Following underperformance in 2016 and with that sort of run-up, 2017 already looks likely to be another lost one.
US FDA recommends company start a new study of oral Fabry disease drug, to be designed using the agency's irritable bowel syndrome guidance for measuring efficacy in diarrhea.
The post-election rally in biopharmaceutical stocks was driven partly by hopes that drug pricing pressures will evaporate. However, this is a facet of post-truth culture rather than a real possibility. As Teva, Mylan and maybe Novartis have demonstrated, more is less when it comes to generic exposure.