Vertex Pharmaceuticals Inc. sank the most in three years after the company revised results reported three weeks ago from a study of two cystic fibrosis drugs, saying the combination showed less of a benefit.
Vertex Pharmaceuticals Inc., maker of the first medicine to target the underlying cause of cystic fibrosis, gained the most ever after a combination of that drug and a second therapy improved patients’ breathing ability.
ImmunoGen Inc. ’s failure to win an accelerated U.S. review for its cancer drug sent shares down the most in eight years, and may signal delays for biotechnology companies led by Onyx Pharmaceuticals Inc. , analysts say.
Vertex Pharmaceuticals Inc. said a trial of its cystic fibrosis pill showed improvements in lung function in 6- to 11-year-olds in a 24-week trial, and will support its application for regulatory approval this year.
Gilead Sciences Inc. , the world’s largest maker of AIDS drugs, said U.S. regulators didn’t accept an application for a combination AIDS pill pairing Gilead’s Truvada with Johnson & Johnson’s experimental drug TMC278.