Put the latest biotech news in context with this week’s Biotech Commentary report, generated by Thomson Reuters IR Advisory Services analysts. Learn about relevant clinical and regulatory news, information on partnerships and financings, notable sell-side upgrades, downgrades and price target changes, earnings recaps, and informative sector articles and videos. Read the report. Interested in getting similar commentaries on a daily basis – before the market opens and following the close? Leave a comment to let us know.
Week of June 4– June 8, 2012
Biotechnology indices finished higher with major US averages. Clinical updates at ASCO were in sector focus. For the week, the BTK advanced 2.44% to 1415.85, and the NBI rose 3.43% to 1283.53.
REGULATORY
Merck announced the FDA issued a CRL regarding the NDA for ridaforolimus in metastatic soft tissue or bone sarcoma. Merck rose 1.07% to $37.90 on Wednesday. Ariad Pharmaceuticals, which is partnered with Merck on ridaforolimus, gained 2.78% to $16.65.
GlaxoSmithKline and XenoPort announced the FDA approved Horizant ER Tablets in postherpetic neuralgia (PHN) in adults. Glaxo slipped 0.25% to $44.27 on Thursday, and XenoPort dropped 9.56%. (more…)