Shares dive as drug giants halt key trials
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THE pharmaceutical industry was reeling last night, as AstraZeneca and Pfizer put key drug development programmes on hold and Eli Lilly issued a warning on one of its best selling medicines.
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Shares of Pharmos Corp. PARS.O 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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NEW YORK/LONDON  - Pfizer Inc.  shares tumbled as much as 15.6 percent on Monday, wiping out nearly $30 billion of market value, after the world's biggest drug maker unexpectedly ended development of its most important experimental medicine.
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Shares of large U.S. and European drug  makers fell on Thursday after a prominent cardiologist  questioned the safety of new arthritis drugs and the  performance of U.S. regulators in monitoring drug safety.
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Leading shares closed lower, as losses amongst heavy weight pharmaceutical makers hit both sides of the Atlantic, dealers said.
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Shares in Pfizer Inc  fell around 14 percent in European and pre-opening U.S. trade on Monday after the world's biggest drugmaker scrapped development of its most important experimental medicine.
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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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Eyetech Pharmaceuticals Inc. said that its Nasdaq-listed shares have been halted for trading on Friday while a Food and Drug Administration panel meets to review the company&#39;s application for
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Shares in Pfizer Inc fell 12 percent in Europe on Monday after the world's biggest drugmaker scrapped development of its most important experimental medicine.
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GenVec Inc. has suspended human testing of its leading drug, a potential cancer therapy, after a patient died during a study. The Gaithersburg biotechnology company&#39;s stock plunged
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GenVec Inc. shares lost almost half their value Thursday after the Food and Drug Administration halted a study of its lead product candidate because the anti-cancer drug may increase blood clots in patients.
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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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Investors' fear that drug prices will be hurt under a Kerry presidency has sent the stocks of many pharmaceutical companies lower.
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European equity markets fell on Monday as weakness in financial and mining stocks offset strength in drugmakers.
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Decode Genetics Inc. said on Thursday  it was halting its late-stage clinical trial program for an  experimental oral heart attack drug after a formulation problem  with the tablets cropped up.
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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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Shares of pharmaceutical companies OSI  Pharmaceuticals Inc. OSIP.O and Genentech Inc. DNA.N fell  sharply before the bell on Friday on concerns about the price  and a warning label on a key new drug the two collaborated to  produce.