AstraZeneca, Glaxo Shares Plunge on Call for FDA Safety Review
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Shares of AstraZeneca Plc and GlaxoSmithKline Plc, the UK&#39;s two biggest drugmakers, fell after a US health official said two of their best-selling treatments need closer safety reviews.
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Business & money: US sales of top selling diabetes drug down 50% after tougher regulation and generics hurt entire sector.
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Shares of La Jolla Pharmaceutical Co. plunged more than 50 percent Friday after the Food and Drug Administration told the drug developer it needs to conduct another study of its lead drug candidate, a lupus treatment called Riquent, prior to approval.
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AstraZeneca Plc suffered its third  setback in two months on Friday as lung cancer drug Iressa  failed to help patients live longer in a major clinical trial,  sending its shares down as much as 9.2 percent.
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The safety of GlaxoSmithKline Plc's controversial diabetes drug Avandia was attacked in a new analysis by German researchers on Wednesday, dealing a fresh blow to the group's second-biggest product.
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Shares in OSI Pharmaceuticals (OSIP :Nasdaq - news - research) and Genentech (DNA :Nasdaq - news - research) jumped Friday after AstraZeneca (AZN :NYSE - news - research) said new medical data showed its lung cancer drug Iressa provided no survival
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AstraZeneca PLC&#39;s shares plunged 7.7 percent Friday after a study found that its new lung-cancer drug Iressa failed to improve survival rates among patients.
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Shionogi Co. shares fell as much as 13.2 percent in early trading in Tokyo after a European Union health panel said it will review the safety of AstraZeneca Plc&#39;s Crestor cholesterol reducer.
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New reports suggest another drug company moved too slowly to pull a dangerous medication from the market and question the Food and Drug Administration&#39;s ability to protect the public.
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Stocks fell on Friday, led by pharmaceutical shares after a US health official raised concerns about drug safety and a drop in chip-equipment makers following a ratings downgrade by Goldman Sachs.
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AstraZeneca Plc suffered its third setback in two months on Friday as lung cancer drug Iressa failed to help patients live longer in a major clinical trial, sending its shares down as much as 9.2 percent.
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The U.S. Food and Drug Administration on Friday asked an outside group to review the way the agency monitors safety risks of medicines after they hit the market, such as Merck & Co. Inc.'s withdrawn painkiller Vioxx.
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The U.S. Food and Drug Administration on Friday asked an outside group to review the way it monitors safety risks associated with medicines already on the market, such as Merck & Co. Inc.'s withdrawn painkiller Vioxx.
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SHARES in drugs giant AstraZeneca bounced back having slumped to a 19-month low earlier today as US regulators formally blocked the launch of its new blood-thinning treatment Exanta.
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NEW YORK, September 9 (New Ratings) - The FDA has raised questions regarding AstraZenecaâs (AZN.NYS) blood thinner, Exanta. The leading pharmaceutical companyâs hopes had been pinned on Exanta, which
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Shares of biotech firm Pharmos Corp. plunged 77 percent in premarket activity on Monday, after the company reported a late-stage trial of dexanabinol failed to demonstrate efficacy in treating severe traumatic brain injury.
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Investors in pharmaceuticals were dealt  a triple whammy on Friday as Pfizer Inc, AstraZeneca Plc and  Eli Lilly and Co all shocked the market with bad news about key  products.