Fitbit shares spiked 7% following a rare piece of encouraging news about the fitness device maker’s holiday sales trends. Its activity tracking software was the second most-popular download among free apps on Apple ‘s iTunes this past week, beating such heavyweights as Snapchat, YouTube, and Instagram.
Category: Healthcare Industry
Seattle Genetics Plunges After Drug Studies Halted on Deaths
Seattle Genetics Inc. plunged the most in five years after U.S. regulators halted several early-stage blood cancer studies following the deaths of four patients who suffered from liver damage. The Food and Drug Administration halted the trials testing Seattle Genetics’s acute myeloid leukemia, or AML, therapy, called SGN-CD33A.
Will 2017 Be Gilead Sciences Inc.’s Worst Year Yet?
The biotech stock is down over 25% in 2016. Sales for hepatitis C virus drugs Harvoni and Sovaldi are dropping like a brick.
Merck’s Ebola Vaccine Found to Protect Against Deadly Virus
An experimental Ebola vaccine manufactured by Merck & Co. was found to be highly protective against the deadly virus, showing promise in the fight against future outbreaks after an earlier epidemic killed thousands and highlighted a shortage of weapons to battle the disease.
J&J’s Decision to Walk Away Set Stage for Renewed Actelion Talks
Johnson & Johnson’s willingness to walk away from talks to acquire Swiss biotechnology company Actelion Ltd. for about $28 billion is the very thing that got the two sides back to the negotiating table. This week, amid rising pressure from shareholders, Actelion surprised investors and re-entered negotiations with J&J, which signaled a willingness to raise its offer if granted exclusivity, said people familiar with the matter.
Actelion Enters Exclusive Takeover Discussions with J&J
Actelion said on Wednesday it has entered exclusive negotiations with U.S. healthcare company Johnson & Johnson regarding what the Swiss biotech company called a “possible strategic transaction”.
Impax Searches for a New CEO
Wilkinson steps down amid feds’ generic price fixing investigation. J. Kevin Buchi, who joined the board last month, tapped as interim CEO.
Harvard Bioscience an ‘Asymmetrical Long Shot’
One of the best parts of writing for Real Money is all the great people I get to meet. I have made some great friends with fellow contributors and Real Money subscribers over the years, and I enjoy hearing from everyone who writes and comments on my articles.
Finally Getting Back to a Stock Picker’s Market
The bulls continue to chug away with better than 2 to 1 breadth, but momentum is slowing. There are only about 140 stocks hitting new 12-month highs, as buyers are less inclined to chase.
The Most Expensive Drugs of 2016
Prescription drug prices have gotten out of control for many Americans and many insurers. Some drugs cost as much as premium sports cars.