In the general news, Iran’s parliament approved the U.S. nuclear arms control deal. In Palestine, Israelis were stabbed and killed by Palestinians, triggering retaliation. In Afghanistan, President Obama halted the draw drown of troops in response to Russian aggression in Syria. In the U.S., Tesla started selling the first ever hands-free “autopilot” car.
In healthcare business news, earnings season began, with JNJ announcing a $10 B stock repurchase. Also, Dexcom (DXCM) beat, as usual.
On the data front, Eli Lilly (LLY) stopped development of CETP-inhibitor drug evacetrapib, sending the stock down 7%. Recall, Pfizer (PFE) also failed with a CETP, torcetrapib, as did Roche. Zafgen (ZFGN) stock tanked 20% when their obesity trial for drug beloranib encountered a death and the FDA stopped the trial. PTC Therapeutics’ (PTC) drug Translarna to treat DMD failed. Lastly, Zosano’s (ZSAN) patch-delivered drug/device ZP-Glucagon to treat diabetes met endpoints.
From the FDA, the agency approved Bristol-Myers Squibb’s (BMY) cancer drug Opdivo to treat lung cancer. However, it declined to approved Pfizer’s (PFE) arthritis drug Xeljanz to treat plaque psoriasis. Also, AstraZeneca’s (AZN) diabetes drug combo was rejected. Lastly, privately held Theranos, with the eccentric CEO who wanted to “disrupt” in vitro diagnostics with a system that collected blood from the fingertips in small volumes, had its program halted by the FDA.
In other regulatory news, Valeant (VRX) continues to be hammered by congressional investigations over its business model of cornering the market on generic drugs then price gouging.