Eli Lilly & Co. rose to a one-month high after an analyst said success of the company’s experimental Alzheimer’s drug could double the share price.
Novo Nordisk A/S had the biggest drop in almost four years, losing about $14.2 billion of market value, after U.S. regulators rejected its new insulin.
Exchange-traded funds that own junk bonds are attracting unprecedented sums of cash from institutional investors seeking to slip in and out of the market as dealer inventories decline.
Roche Holding AG’s top-seller Avastin may shed $1 billion in annual revenue if U.S. regulators follow a panel recommendation to revoke approval of the drug for use in breast cancer.
Bristol-Myers Squibb Co.’s fourth- quarter earnings beat analysts’ estimates after the company took a tax benefit from a hepatitis C drug that failed last year.
"People are taking a step back from risk at the moment, and you can sense the market is uneasy."
- Tim Anderson on Oct 03, 2014