Pharma Stock Roundup: FDA Updates For RHHBY, AZN, MRK, No Asbestos In Talc Says JNJ
Zacks Investment Research | Dec 05, 2019 09:27PM ET
This week, the FDA granted approval to Roche’s (OTC:RHHBY) cancer immunotherapy Tecentriq for expanded use in lung cancer. It also granted priority review status to AstraZeneca (NYSE:AZN) & Merck’s (NYSE:MRK) applications looking for label expansion approvals of their PD-L1 inhibitors Imfinzi and Keytruda, respectively. Meanwhile, J&J (NYSE:JNJ) said that two third-party labs conducted 155 tests on samples of its baby powders. All these tests confirmed that the talc does not contain asbestos, a known carcinogen.
Recap of the Week’s Most Important Stories:
FDA Grants Priority Review to AstraZeneca & Merck’s Supplemental Applications: AstraZeneca’s supplemental biologics license application (sBLA) looking for approval of Seroquel and Seroquel XR, a treatment for schizophrenia and bipolar disease in United States and Canadato Cheplapharm Arzneimittel GmbH. AstraZeneca has lost exclusivity for these medicines in these two countries. For the divestiture, AstraZeneca will get an upfront payment of $35million plus future sales-contingent payments of up to $6 million. In October, AstraZeneca also sold rights to Seroquel and Seroquel XRin Europe and Russia to Cheplapharm. The transactions are part of the company’s efforts to focus on its three main therapy areas of Oncology, Cardiovascular, Renal & Metabolism and Respiratory.
The NYSE ARCA Pharmaceutical Index was almost flat in the last five trading sessions.
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