Big Pharma May 2017: Product Developments Shift Stock
In a new monthly column, Scrip rounds up events on the stock market, noting trends and exceptional performance both good and bad. This month, the focus is on 30 biopharma companies with market caps above $10bn. Between them, these 30 companies account for approximately 75% of the asset value in the pharmaceutical industry.
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While most eyes were on AstraZeneca's keenly awaited MYSTIC lung cancer study of Imfinzi, its PACIFIC trial has ducked under the radar and hit investors with the nicest kind of surprise. The results could have wider implications for IO in earlier-stage cancers.
Allergan generated enough cash flow in the first quarter to justify increased spending to develop and promote new products in 2017 – reinvesting because it can, not necessarily because it has to.
US FDA’s approval of Mitsubishi's Radicava (edaravone) is yet another demonstration of the agency’s flexibility for drugs to treat rare diseases – and pre-emptive action to fend off “Right to Try” laws. It is also a belated endorsement of one of the stranger votes by an FDA advisory committee member almost a decade ago.