Iridex Eye Treatment Fails in Study, Shares Plunge
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Iridex Corp. on Friday said its  experimental laser treatment for the leading cause of  age-related blindness was no better than a placebo in a  clinical trial, sending shares down more than 40 percent.
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GlaxoSmithKline PLC, the world's second-largest drug maker, began a campaign to challenge a report that linked its diabetes drug Avandia to heart risks and caused its stock to decline 11 percent in the eight days through Tuesday. The shares rose yesterday.
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Shionogi Co. shares fell as much as 14.4 percent in Tokyo on concerns in the European Union and US about the safety of Crestor, a cholesterol-reducing drug developed by the Japanese company and sold by AstraZeneca Plc.
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Despite announcing the biggest news in its short history, OSI Pharmaceuticals stock fell nearly 10 percent Friday, as some investors grew nervous about whether its newly approved cancer drug would be the bonanza they expected.
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Drug makers failed to bounce back from a Thursday slide, with many drug stocks closing down Friday as drug giant Pfizer Inc. and generic drug challenger Alpharma Inc.
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Shares in US drugmaker Pfizer plunge after it halts development of its most important experimental drug.
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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 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 more than 8 percent.
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In "surprising and disappointing" news, its promising new drug fails clinical trials.
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Shares of Eyetech Pharmaceuticals (EYET:Nasdaq - news - research) fell Monday even though several analysts said the company&#39;s experimental eye disease drug Macugen has a good chance of securing government approval.
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Shares of large drug makers fell on  Thursday after a top U.S. cardiologist questioned the safety of  new arthritis drugs and the performance of U.S. regulators in  monitoring drug safety.
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An experimental eye disease drug has been a boon to Eyetech Pharmaceuticals. But as the drug nears approval, many doctors are questioning its effectiveness.
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Shares of Advanced Medical Optics plunged in trading on Tuesday as investors reacted to a recall of one of the companyâs best-selling contact lens cleaning solutions over health concerns.
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Shares in Pfizer Inc, the world's  biggest drugmaker, fell more than 10 percent in early trade in  Europe on Monday, after news it had scrapped its most important  experimental drug.
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Shares in Anglo-Swedish drug giant AstraZeneca drop more than 8% in value after the failure of its Iressa drug in a major clinical trial.
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Shares of Pharmos Corp.  fell 57 percent before the bell on Monday after the biopharmaceutical company said clinical trials showed its drug dexanabinol was not effective as a treatment for severe traumatic brain injury.
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The drug company's experimental treatment for Alzheimer's  failed to prove effective in a big clinical trial. The stock  closed Tuesday at $45.85 on the New York Stock Exchange before  falling 10 percent in after-hours trading following release of  the trial results.