Pharma Stock Roundup: NVS' New Eye Drug Gets FDA Nod, NVO, GSK, PFE Sign Deals
Zacks Investment Research | Oct 10, 2019 11:03PM ET
This week, the FDA approved Novartis’ (NYSE:NVS) potential blockbuster eye drug, Beovu. J&J (NYSE:JNJ) submitted a regulatory application seeking label expansion approval of its plaque psoriasis drug, Stelara for pediatric patients. Pfizer (NYSE:PFE) , Novo Nordisk (NYSE:NVO) and Glaxo (NYSE:GSK) announced licensing deals.
Recap of the Week’s Most Important Stories
FDA Approves Novartis’ New Eye Drug: The FDA granted approval to Novartis’ ophthalmology drug, hemophilia and other severe genetic diseases. Per the deal, bluebird bio’s new platform technology — mRNA-based megaTAL technology — will be utilized to create a highly differentiated approach to treat severe genetic diseases. No financial terms of the deal were disclosed.
Glaxo also announced a five-year collaboration with small biotech Lyell Immunopharma to develop next generation cancer cell therapies.
The NYSE ARCA Pharmaceutical Index rose 0.4% in the last five trading sessions.
Last week, all stocks were in the green, except J&J and Lilly (NYSE:LLY) . Bristol-Myers (NYSE:BMY) was the biggest gainer (2.5%) while J&J declined the most (1.6%).
In the past six months, Bristol-Myers has risen the most (11.4%) while Pfizer lost the most (14.2%).
(See the last pharma stock roundup here: Zacks Investment Research
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