George Farmer News
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Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York time.
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Seattle Genetics Inc. and Takeda Pharmaceutical Co.’s experimental drug wiped out tumors in one- third of patients with hard-to-treat Hodgkin’s lymphoma and reduced the cancer by half in another 40 percent, a study found.
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Astellas Pharma Inc. , Japan’s second-biggest drugmaker, said it will pay Aveo Pharmaceuticals Inc. as much as $1.3 billion for the rights to develop and sell an experimental cancer drug that may compete with medicines from Pfizer Inc. and Bayer AG.
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Optimer Pharmaceuticals Inc. won a U.S. panel’s unanimous backing for an antibiotic that fights a deadly bacterium linked to intestinal infections often caught in hospitals.
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Dendreon Corp. won approval for its only product, the prostate cancer vaccine Provenge, concluding a three-year battle with U.S. regulators to introduce the first therapy to train the body’s immune system to destroy tumors.
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NPS Pharmaceuticals Inc. said its experimental therapy, Gattex, helped restore normal intestinal function in patients with a rare bowel condition in a study, spurring shares to the biggest gain in about 11 years.
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Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.
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Onyx Pharmaceuticals Inc. increased the most in nine months after its Nexavar treatment for advanced liver cancer outperformed a potential competitor from Pfizer Inc. in trials.
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OSI Pharmaceuticals Inc. investors anticipate an added U.S. approval for the lung-cancer drug Tarceva will push Astellas Pharma Inc. to raise its $3.5 billion hostile takeover bid, analysts said.
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