On Tuesday, Shares of Pfizer Inc. (NYSE:PFE), settled flat to $34.04,.
Health care stocks were holding on to moderate gains Tuesday afternoon, with the NYSE Health Care Sector Index climbing about 0.4% and shares of health care companies in the S&P 500 also adding about 0.4% as a group.
On June 11, Pfizer declared the top line results from a Phase 3 study which evaluated the efficacy, safety, and tolerability of Pristiq® (desvenlafaxine succinate sustained-release formulation) in pediatric patients ages 7 to 17 with Major Depressive Disorder (MDD).
The study did not meet its primary objective to demonstrate superior efficacy of desvenlafaxine succinate sustained-release formulation contrast to placebo.
This is the first accomplished study of four Phase 3 pediatric trials being conducted as part of an FDA post-marketing commitment under the Pediatric Research Equity Act (PREA).
Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. The company operates through Global Innovative Pharmaceutical (GIP); Global Vaccines, Oncology and Consumer Healthcare (VOC); and Global Established Pharmaceutical (GEP) segments.
Shares of Acura Pharmaceuticals, Inc. (NASDAQ:ACUR), inclined 24.10% to $1.03, during its last trading session.
Acura Pharmaceuticals, declared that Acura has reached a License and Development Agreement with Bayer Healthcare LLC to provide an exclusive worldwide license to Acura’s IMPEDE technology for use in an unrevealed methamphetamine resistant pseudoephedrine containing product and to jointly develop such product utilizing the IMPEDE technology for the U.S. market. Bayer has the right to negotiate for a worldwide license to the IMPEDE technology for additional products.
In spite of successful industry-wide efforts to curb the diversion of pseudoephedrine containing cold and allergy products to the illegal production of methamphetamine, the issue continues to affect many communities. Methamphetamine is a highly addictive drug and its production can be highly flammable resulting in substantial costs for clean-up, hospitalization and treatment of addiction. Legitimate pseudoephedrine consumers have been faced with an increasing array of purchase requirements, counting monthly purchase limitations and, in some cases, requiring a physician’s prescription, in an effort to reduce the impact of pseudoephedrine diversion.
Acura’s IMPEDE methamphetamine resistant technology is accessible in the US in its NEXAFED® immediate-release products. IMPEDE technology has demonstrated significantly reduced yields of methamphetamine contrast to traditional formulations in laboratory tests and has been associated with a reduction in methamphetamine laboratories in local markets of up to 90%.
Acura Pharmaceuticals, Inc., a specialty pharmaceutical company, researches, develops, and commercializes products to address medication abuse and misuse utilizing its proprietary Aversion and Impede technologies.
Finally, AbbVie Inc. (NYSE:ABBV), ended its last trade with -0.21% loss, and closed at $66.77.
Galapagos NV, declared a joint presentation with AbbVie, at the 38th annual European Cystic Fibrosis Society conference in Brussels, Belgium.
“Development of Trafficking Assays to Evaluate Novel Corrector-Potentiator Combinations,” presented by Dr Corina Balut of AbbVie, revealed for the first time new assays developed by Galapagos and AbbVie to evaluate the impact of corrector molecules on the rescue of CFTR-F508del and to gain insight into the influence of each component in combination cocktails. Among these was the combination of AVI-tagged CFTR with an MSD discovery platform to provide a more specific and sensitive approach in studying the endocytosis and degradation rate of plasma membrane CFTR. This particular new assay also characterizes the effect of various correctors on channel stability at the cell surface and its endocytosis/recycling, allowing for a better understanding of the mechanism of action of compounds.
Galapagos and AbbVie are working together to develop a triple combination therapy for cystic fibrosis patients with the Class II (F508del) mutation. Novel potentiator GLPG1837 is presently in Phase 1 and is predictable to enter a Phase 2 study in class III mutation patients before end 2015. Novel corrector GLPG2222 is predictable to enter Phase 1 before end 2015. Galapagos and AbbVie expect to nominate a second novel corrector by Q3 2015 and thereby complete the triple combination therapy discovery phase. This second novel corrector is predictable to enter Phase 1 in Q2 2016.
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company’s products comprise HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; VIEKIRA PAK, an all-oral, short-course, interferon-free therapy, with or without ribavirin, for adult patients with genotype 1 chronic hepatitis, counting those with compensated cirrhosis; Kaletra, an anti-HIV-1 medicine used with other anti-HIV-1 medications as a treatment that maintains viral suppression in people with HIV-1; Norvir, a protease inhibitor indicated in combination with other antiretroviral agents to treat HIV-1 infection; and Synagis to prevent respiratory syncytial virus infection in high risk infants.
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