Vivus Inc., maker of the recently approved obesity drug Qsymia, sank the most in more than two years after the company reported a larger third-quarter loss than analysts expected and investors feared slow uptake of the medicine.
Doctors cheered last year when the U.S. gave its first approvals for drugs to combat obesity in more than a decade. Eight months later, the two treatments have yet to catch on with consumers or investors.
Express Scripts Holding Co., a pharmacy benefit manager that handles more than 1 billion prescriptions annually in the U.S., is ratcheting up its effort to force Gilead Sciences Inc. to cut the $84,000 price of its new hepatitis C pill Sovaldi.
Regeneron Pharmaceuticals Inc. and Sanofi and must assess how their experimental cholesterol drug affects brain function after U.S. regulators learned of adverse events associated with this new class of medicines.