Pharma Stock Roundup: PFE To Buy ARRY, RHHBY, MRK, AZN Drugs Get Regulatory Nod
Zacks Investment Research | Jun 20, 2019 09:07PM ET
This week Pfizer (NYSE:PFE) announced a definitive deal to buy Array BioPharma to strengthen its cancer portfolio. In other news, Merck’s (NYSE:MRK) blockbuster PD-L1 inhibitor, Keytruda won approval for previously treated advanced small cell lung cancer (SCLC) while AstraZeneca (NYSE:AZN) and Roche (OTC:RHHBY) gained approval in Japan for their investigational medicines. Meanwhile, AstraZeneca and Merck’s Lynparza was approved in EU and Japan for first-line maintenance treatment of BRCA-mutated advanced ovarian cancer.
Recap of the Week’s Most Important Stories
Pfizer to Buy Array BioPharma: In a bid to strengthen its cancer portfolio, Pfizer announced a Roche’s personalized medicine entrectinib for adult and pediatric patients with NTRK fusion-positive advanced recurrent solid tumors. Japan became the first company to approve this tumor-agnostic medicine, which will be marketed by the trade name of Rozlytrek. It is under priority review in the United States with the FDA’s decision expected in August.
Novo Nordisk (CSE:NOVOb) Gets EU Approval for Esperoct: The European Commission granted marketing approval to Novo Nordisk’s (NYSE:NVO) Esperoct for the treatment of haemophilia A in adult patients and children. The drug is indicated for prophylaxis and on-demand treatment of bleeding as well as for surgical procedures in adolescents and adults with hemophilia. A. Esperoct is expected to be launched in the EU in the second half of 2019. The drug was approved in the United States in February.
Sanofi/Regeneron’s Asthma Candidate Succeeds in Study: Sanofi (NASDAQ:SNY) and partner Regeneron Pharmaceuticals announced that a phase II study evaluating their investigational IL-33 antibody REGN3500 (SAR440340) in asthma met the primary endpoint. Data from the study showed that REGN3500 (SAR440340) monotherapy significantly reduced loss of asthma control (primary endpoint) and improved lung function compared to placebo. However, the REGN3500 plus Dupixent treatment arm failed to demonstrate increased benefit compared to Dupixent.
The NYSE ARCA Pharmaceutical Index rose 2.1% in the last five trading sessions.
Here is how the seven major stocks performed in the last five trading sessions:
Last week, all the stocks were in the green with AstraZeneca recording the highest gain (4.3%).
In the past six months, Merck has been the biggest gainer (18.9%) while Bristol-Myers (NYSE:BMY) has recorded the least gain (0.3%).
(See the last pharma stock roundup here: Zacks Investment Research
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