On Friday, Shares of Eli Lilly and Company (NYSE:LLY), lost -2.75% to $84.21.
Eli Lilly and Company, and Incyte Corporation (INCY) declared that five abstracts featuring data from three clinical studies and separate pharmacology studies for its investigational rheumatoid arthritis drug baricitinib will be presented at the 2015 annual meeting of the European League Against Rheumatism in Rome June 10-13. Lilly and Incyte formerly released positive topline results for the RA-BEACON and RA-BUILD studies, both of which met their primary endpoint of ACR20 at 12 weeks as contrast to placebo.
“Incyte is committed to translating R&D excellence into new medicines, and we are very happy with the initial results from the Phase 3 trials program of baricitinib,” said Rich Levy, M.D., chief drug development officer at Incyte Corporation.
“With the prevalence of rheumatoid arthritis worldwide, Lilly is excited to share further information about baricitinib with the scientific community,” said David Ricks, Lilly senior vice president, and president of Lilly Bio-Medicines. “Lilly remains committed to following the science to challenge convention and continuously improve outcomes.”
Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products worldwide. It operates in two segments, Human Pharmaceutical Products and Animal Health products. The company offers endocrinology products to treat diabetes; osteoporosis in postmenopausal women and men; human growth hormone deficiency and pediatric growth conditions; and testosterone deficiency.
Shares of Chevron Corporation (NYSE:CVX), declined -1.24% to $99.87, during its last trading session, as oil prices were driven into the red after Saudi Arabia said it is prepared to raise its oil output to new record highs. The Middle Eastern country is the world’s largest oil exporter.
Saudi Arabia is said to be in discussions with Indian buyers to supply more crude, which means the exporter could surpass its 10.3 million barrels produced per day record reached in May, Reuters Reports.
Chevron Corporation, through its auxiliaries, engages in the petroleum, chemicals, and power and energy operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas.
Finally, Gerdau S.A. (NYSE:GGB), ended its last trade with -1.42% loss, and closed at $2.77.
Gerdau S.A., Latin America’s largest steelmaker, is compensating slumping Brazilian demand with exports and a more resilient business in the U.S.
The Porto Alegre, Brazil-based producer has profited from having operations in the U.S. at a time demand in its home market has been declining since the second quarter of last year, Chief Executive Officer Andre Gerdau Johannpeter said in an interview. The company is boosting shipments from Brazil to offset the local demand weakness, he said.
“It works fine for Gerdau’s portfolio because right after the crisis, Brazil recovered quite fast and it took a long time here,” Gerdau Johannpeter, 52, said Friday in New York before a meeting with investors. “Now Brazil is down, and here is up.” Bloomberg Reports.
Gerdau S.A. produces and commercializes steel products worldwide. It operates through Brazil, North America, Latin America, Special Steel, and Iron Ore segments. The company provides semi-finished products, which comprise billets that are bars from square sections of long steel that serve as inputs for the production of wire rod, rebars, and merchant bars; blooms for use in the manufacture of springs, forged parts, heavy structural shapes and seamless tubes; and slabs, which are used in the steel industry for the rolling of various flat rolled products, in addition to to produce hot and cold rolled coils, heavy slabs, and profiles.
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