On Wednesday, Celgene Corporation (NASDAQ:CELG)’s shares inclined 9.83% to $122.07.
Celgene International Sàrl, a wholly-owned partner of Celgene Corporation (CELG) declared that REVLIMID® (lenalidomide), a cancer medicine that is administered orally, has been granted full marketing authorization by Japan’s Ministry of Health, Labour and Welfare (MHLW) for use in combination with dexamethasone as a treatment for patients newly diagnosed with multiple myeloma. This marketing authorization expands upon the approval of REVLIMID in 2010 for the treatment of patients with relapsed or refractory multiple myeloma.
“The approval of REVLIMID as an option for use in newly diagnosed patients with multiple myeloma represents an important step forward in the interest of patients, health care and society,” said Joe Melillo, VP and General Manager, Celgene Japan.
The approval was based on safety and efficacy results from an international phase III study, the FIRST trial (MM-020/IFM 07-01) as the pivotal study, in addition to a confirmatory Japanese phase II study (MM-025).
The FIRST trial evaluated continuous REVLIMID in combination with dexamethasone (Rd Continuous) until disease progression as compared to melphalan, prednisone and thalidomide (MPT) for 18 months as the primary analysis, and a fixed duration of 18 cycles of Rd (Rd18) as a secondary analysis, in 1,623 newly diagnosed patients who were not candidates for stem cell transplant.
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases in the United States and Internationally. It markets REVLIMID, an oral immunomodulatory drug for multiple myeloma, myelodysplastic syndromes (MDS), and mantle cell lymphoma; ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers; POMALYST/IMNOVID to treat multiple myeloma; and VIDAZA, a pyrimidine nucleoside analog to treat intermediate-2 and high-risk MDS, and chronic myelomonocytic leukemia, in addition to acute myeloid leukemia (AML).
JPMorgan Chase & Co. (NYSE:JPM)’s shares gained 1.61% to $66.74.
J.P. Morgan Asset Administration declared that its newest ETF, the JPMorgan Diversified Return Europe Equity ETF (JPEU), will officially start trading recently. Further expanding J.P. Morgan’s planned beta suite, JPEU is the fifth product offered since the launch in June 2014.
JPEU is designed to serve as the foundation of a developed Europe equity portfolio, combining portfolio construction with stock selection in an effort to produce higher returns with lower volatility than traditional market cap-weighted indices. Similar to its predecessors, the ETF seeks to diversify risk across sectors and build a portfolio that excludes expensive, low quality companies with weak momentum characteristics.
The ETF tracks the FTSE Developed Europe Diversified Factor Index, which is rebalanced on a quarterly basis and was thoughtfully constructed based on J.P. Morgan’s active insights and risk administration expertise. The fund is managed by an practiced J.P. Morgan team, with James Ford and Richard Morillot as co-managers. J.P. Morgan has been investing in European markets since 1964 and manages $37B in European equities.
“The European recovery provides a growth opportunity for long-term investors,” said Robert Deutsch, Global Head of ETFs for J.P. Morgan Asset Administration. “JPEU is constructed to allow investors to take part in the upside while also providing less volatility in down markets. We are happy to combine the investment expertise of J.P. Morgan with the index design capabilities of FTSE Russell, to create a product that will be attractive to investors looking for exposure to European markets, but are concerned with volatility.”
JPMorgan Chase & Co. is a financial services firm. The company operates through four segments: Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking, and Asset Administration. The Consumer and Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash administration and payment solutions to small businesses; and residential mortgages and home equity loans, in addition to provides credit cards, payment services, payment processing services, and auto and student loans.
Biodel Inc (NASDAQ:BIOD)‘s shares surged 4.55% to $0.292. The last trading range of Biodel Inc (NASDAQ:BIOD) ranges between $0.28 and $0.30. The EPS of the company stands at $-0.60. The 52-week range shows that the stock reached higher at $2.00 while its lower range is $0.22 in the last 52-weeks. The average volume of the company is at 1.94 million with the Outstanding Shares of 2.04 million. The market capitalization of the company is $17.37 billion. The Beta of the company stands at 2.04 with the RSI (Relative Strength Index) of 48.03.
Biodel Inc., a specialty biopharmaceutical company, focuses on the development and commercialization of treatments for diabetes in the United States. Its lead product candidate is a glucagon emergency administration (GEM) device that is intended to treat diabetes patients experiencing severe hypoglycemia, or very low concentrations of blood glucose.
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