Acorda Therapeutics Inc., maker of the drug Ampyra to improve walking in multiple sclerosis patients, rose to its highest value in more than two years after the company said a small study showed the medicine also helped people who have had strokes.
Amylin Pharmaceuticals Inc. , Eli Lilly & Co. and Alkermes Inc . dropped in trading after they were rebuffed a second time in a bid to gain U.S. approval of a once- weekly version of the diabetes drug Byetta.
Sanofi-Aventis SA began an $18.5 billion hostile takeover offer for Genzyme Corp. after the U.S. biotechnology company spurned the bid as too low. Genzyme urged shareholders to take no immediate action.
Ariad Pharmaceuticals Inc., a developer of cancer drugs, sank the most in more than four years after the company’s cancer medicine received a warning label with U.S. approval to treat two rare types of leukemia.
Regeneron Pharmaceuticals Inc., the drugmaker today celebrating the 25th anniversary of its incorporation, fell the most in five weeks after reporting sales for its eye drug Eylea that disappointed investors.
Regeneron Pharmaceuticals Inc., maker of the eye medicine Eylea, rose the most in three weeks on drug-development partner Sanofi’s plans to raise its stake in the company by buying shares on the stock market.
Orexigen Therapeutics Inc. plunged as much as 73 percent after U.S. regulators said the company must submit more data before its diet pill Contrave may be cleared for sale. Diet-drug developer Vivus Inc. also fell.
Linde AG agreed to acquire Lincare Holdings Inc. for about $3.8 billion to add U.S. oxygen and respiratory therapy services delivered to the home, in the German company’s biggest acquisition since 2006.