Synergy Pharmaceuticals Inc said its constipation drug improved the frequency of complete spontaneous bowel movements in patients with a form of irritable bowel syndrome, reinforcing investor hopes that the data would boost chances of a buyout.
Lexicon Pharmaceuticals Inc said its experimental drug to treat diabetes reduced the use of insulin at meal times in a mid-stage study of patients with type 1 diabetes, sending the company's shares up as much as 17 percent.
Alkermes Plc said it planned to seek U.S. marketing approval for its experimental drug to treat the symptoms of schizophrenia after it succeeded in a late-stage study, sending the company's shares up as much as 11 percent.
The U.S. Food and Drug Administration found that a drug ingredient manufactured at a GlaxoSmithKline Plc plant in Ireland was contaminated and said the company did not take sufficient action to resolve the problems.
Prana Biotechnology Ltd lost nearly three-quarters of its value after the company said its experimental drug to treat Alzheimer's disease failed a mid-stage study, raising doubts about the drug's future.
Merck & Co Inc appointed Baxter International Inc executive Robert Davis as chief financial officer, as it looks to cut costs and focus on drugs that are more likely to be approved by regulators.
Insmed Inc's shares plunged after its experimental drug to treat a form of bacterial lung infection failed the main goal of a trial, but the stock clawed back much of its early losses after analysts said positive secondary data was more relevant.
Endocyte Inc's shares more than doubled after the company said its cancer drug was recommended for conditional approval in Europe for ovarian cancer and that the drug improved survival rates in lung cancer patients.
Horizon Pharma Inc said it would buy Dublin-based Vidara Therapeutics International Ltd in a reverse merger for $660 million (£397.09 million), the latest U.S. company looking to benefit from Ireland's low corporate tax rates.
Horizon Pharma Inc said it would buy Dublin-based Vidara Therapeutics International Ltd in a reverse merger for $660 million, the latest U.S. company looking to benefit from Ireland's low corporate tax rates.