Impax Laboratories Inc. declined the most in more than two months after the company failed to win U.S. approval for an extended-release formulation of a Parkinson’s disease drug used to relieve spasms in patients.
Medicis Pharmaceutical Corp., the maker of wrinkle treatments and acne drugs, fell the most in almost five months in New York trading after the girlfriend of millionaire founder and Chief Executive Officer Jonah Shacknai was found dead yesterday at the executive’s beachside home.
Questcor Pharmaceuticals Inc. fell the most in 20 years after insurer Aetna Inc. said it would limit coverage of the company’s top-selling drug. The drugmaker said it doesn’t expect a “material impact” from the change.
Valeant Pharmaceuticals International Inc.’s $2.6 billion agreement to buy skin-care company Medicis Pharmaceutical Corp. recharges an acquisition plan that stumbled with last year’s failed bid for Cephalon Inc.