Gilead Slump, Celgene Goes Trump, Hemo Data & More
Summary
Biotech Roundup: Gilead Slump, Celgene Goes Trump, Hemo Data & More Xconomy National — Quarterly biopharma earnings added a little heat to the already high summer temperatures.But the company said this week that sales of Sovaldi and Harvoni, which share a common ingredient, sofosbuvir, have slowed with fewer patients starting on the drugs and prices undercut by fierce competition from AbbVie and Merck.Shares of Cambridge, MA-based Tokai Pharmaceuticals (NASDAQ: TKAI) plummeted 78 percent after the company shut down a Phase 3 trial of prostate cancer drug galeterone early because the study was likely to fail.—Farther up the development road, South San Francisco, CA-based Cytokinetics (NASDAQ: CYTK) expanded its relationship with Japan’s Astellas Pharma to include an ALS drug in Phase 3 trials.Ocular blamed a manufacturing problem and expects approval once it’s resolved…South Plainfield, NJ-based PTC Therapeutics (NASDAQ: PTCT) said its Duchenne muscular dystrophy drug ataluren (Translarna) faces a regulatory delay in Europe.
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