Regeneron Pharmaceuticals Inc. shares surged to a 20-year high on a Department of Veterans Affairs decision to stop using Roche AG’s cancer drug Avastin to treat an eye disease as it investigates reports of serious infections and blindness.
Amgen Inc. ’s osteoporosis drug denosumab was approved by U.S. regulators for reducing fractures in prostate and breast cancer patients, an indication that may boost sales to $2.4 billion in five years.
Novartis AG ’s drug Gilenia has risks that may outweigh its benefit in treating multiple sclerosis, according to U.S. regulators reviewing whether to approve the first pill to slow progression of the disease.
Amgen Inc. , the world’s largest biotechnology company, and Genzyme Corp. will be able to separately bill Medicare for oral drugs used in dialysis until 2014, longer than first proposed. The shares rose.