Pharma Stock Roundup: Teva Announces Major Job Cuts, Lilly Provides 2018 Outlook
Zacks Investment Research | Dec 15, 2017 07:50AM ET
Key announcements this week were Teva Pharmaceutical Industries Ltd.’s (NYSE:TEVA) restructuring plan and Eli Lilly and Company’s (NYSE:LLY) 2018 outlook. Focus also remained on data presentation at the annual conference of the American Society of Hematology ("ASH") where companies like J&J, Roche (OTC:RHHBY) , Bristol-Myers Squibb (NYSE:BMY) and Merck (NYSE:MRK) were present.
Recap of the Week’s Most Important Stories
ASH Highlights: Several companies were at ASH with data on approved and pipeline drugs. Roche presented phase II data showing that polatuzumab vedotin plus bendamustine and MabThera/Rituxan ("BR") increased complete response rates compared to BR alone in previously treated aggressive lymphoma. Complete response rates increased from 15% to 40% on the addition of polatuzumab vedotin to BR and patients treated with this combination lived longer compared to patients on BR alone (11.8 months versus 4.7 months). Roche also presented data on a Tecentriq-Avastin combination in certain people with advanced kidney cancer (Read more: FDA Nod for NVO's Ozempic, Second Indication for Lilly's Taltz ).
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