Pharma Stock Roundup: ABBV's Elagolix Meets Study Goal, MRK's Keytruda In Focus
Zacks Investment Research | Mar 15, 2018 10:46PM ET
This week was a relatively light one as far as developments in the pharma sector were concerned. The key highlights were priority review for Merck’s (NYSE:MRK) Keytruda for advanced cervical cancer, delay in final data from AstraZeneca’s (NYSE:AZN) key lung cancer study, success of AbbVie’s (NYSE:ABBV) another late stage study and breakthrough therapy designation for J&J’s (NYSE:JNJ) cancer candidate.
Recap of the Week’s Most Important Stories
AstraZeneca Delays Final Data from MYSTIC Study: The final overall survival data from AstraZeneca’s pivotal phase III MYSTIC study on Imfinzi in the first-line lung cancer indication has been delayed to the second half of this year. The data was previously expected to be presented in the first half of 2018. In July last year, the study failed to meet the primary endpoint of progression-free-survival. (Read More: J&J's Erdafitinib Gets Breakthrough Therapy Status )
The NYSE ARCA Pharmaceutical Index was up a marginal 0.1% in the last five trading sessions.
Here is how the seven major stocks performed:
While Merck emerged as the biggest gainer (1.8%) in the last five trading sessions, Glaxo’s (NYSE:GSK) shares declined the most (1.6%).
In the last six months, while AstraZeneca has gained 7.2%, Merck declined 14.8%.
(See the last pharma stock roundup here: Zacks Investment Research
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