Top Healthcare Stocks
Healthcare stocks are lower with the NYSE Healthcare Sector
Index sinking 0.3% and shares of healthcare companies in the
S&P 500 down 0.4% as a group.
In company news, Albany Molecular Research Inc. (
) is down nearly 11% at $10.62 a share, putting a little more
distance from its $9.82 session low after Bristol-Myers Squibb (
) this afternoon said it was ending development of the company's
BMS-820836 drug candidate, terminating Phase III testing of the
BMY said its decision followed the investigational triple
reuptake inhibitor failing to meet primary endpoints during a pair
of Phase IIb studies with patients that have not responded to other
AMRI said while BMS-820836 has provided research and milestone
payments for more than seven years, it does not expect BMY's move
will have any impact on its future financial performance -
including its Q3 and FY13 guidance updated last week.
It also said it is continuing discussions with BMY about other
potential drug treatments for treatment-resistant depression and
other central nervous system disorders.
In other sector news,
(+) GALT, FDA grants 'Fast Track' designation for the company's
drug candidate to treat fatty-liver disease.
(-) VICL, Scraps experimental melanoma therapy after the drug
failed to perform significantly better than current chemotherapy
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