Shares of Biogen were up sharply on Friday after its BAN2401 Alzheimer’s treatment showed positive results in a large clinical trial. The 18-month trial of the drug, made by Biogen and Japanese pharma company Eisai, surprised investors after a 12-month trial failed last December. (Bloomberg)
Two-thirds of analysts reached by Thomson Reuters recommend AstraZeneca’s stock, just one year after the failure of a key cancer drug caused its largest single-day share-price drop. Twelve months after rampant speculation about the future of CEO Pascal Soriot, he now says he’s happy to stay on at the drugmaker into the next decade. (Reuters)
Ironwood has eliminated 40 jobs ahead of its planned split into two companies. The drugmaker is planning to spin off a portfolio of early and mid-stage drugs into another public company while keeping its own marketed products. (Endpoints)
A U.S. District Judge in Chicago on Thursday reversed a $140.1 million verdict against AbbVie made after a lawsuit in which the plaintiff claimed the company misrepresented the risks of AndroGel, a testosterone replacement drug. The drugmaker is facing thousands of suits nationwide over AndroGel. (Reuters)
The FDA has denied an anti-legalization group’s request to assign marijuana and its derivatives to a list of substances not recognized as safe or effective. The government agency told Drug Watch International that its request isn’t necessary to protect public health. (Forbes)
