In a year when Teva Pharmaceutical Industries Ltd. lost its chief executive officer, a patent ruling on its best-selling drug and analysts became the most bearish on the stock, the Israeli drugmaker is poised for the first gain since 2009.
U.S. stocks rose for a seventh week, sending the Dow Jones Industrial Average to the longest stretch of gains in almost three years, as improved data on employment and retail sales offset concern over a cut in monetary stimulus.
Biogen Idec Inc.’s multiple sclerosis drug Tecfidera won designation as a “new active substance” in Europe, giving it added protection against generic copies and paving the way for approval there. The shares rose the most in more than two years.
Sanofi’s multiple sclerosis drug Lemtrada is effective for preventing flare-ups of the disease, U.S. regulatory advisers said yesterday, even as they decided the company’s trials weren’t adequate to assess the drug.
Sanofi’s Lemtrada hasn’t proven to help against disability in the treatment of relapsing multiple sclerosis, said U.S. advisers who questioned whether the company’s studies were conducted well enough to assess the drug.
Biogen Idec Inc., the maker of multiple sclerosis drugs Avonex, Tysabri and Tecfidera, said it anticipates bringing the hemophilia treatment Eloctate to market in mid-2014, later than previously projected.