SQUIBB UP SHARPLY ON APPROVAL FOR EXPANDED USE OF CAPOTEN; COMPOSITE FLAT
Squibb catapulted 5-5/8 to 68-3/4 on the approval by FDA of expanded hypertension labeling for Capoten (captopril). The agency's approval of Capoten for use in all stages of hypertension pushed Squibb to an "F-D-C" Weekly Index leading performance for the week ended July 5. Upjohn also performed strongly, gaining 3-7/8 to 112-1/4. Despite the Squibb move, the Pharmaceutical Component was up only fractionally, while the Composite was flat at 606.1 During the week, the Dow was off one percent to 1334.5. The Chain stocks were down 1.8% while the Diversified segment was unchanged for the week. Chart omitted.
You may also be interested in...
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth