Biotech Stocks Roundup: Amgen & Alexion

Biotech stock market news

In the news on the Biotech Segment, stocks remained majorly volatile. With the news in the biotech market segment being dominated by the likes of Abbvie (ABBV), who is trying to acquire Ireland-based Shire (SHPG), we take a look at the other stocks which were in the news and are looking positive: Amgen & Alexion. Let’s take a closer look at both of them.

Alexion has gained regular FDA approval for Soliris for the treatment of adult and pediatric patients with atypical hemolytic uremic syndrome (aHUS), which is a genetic, chronic, ultra-rare disease.

This means that the company has fulfilled its post-marketing requirements for the drug which had gained accelerated approval for this indication in Sep 2011. The product label will now contain additional information including long-term data.

Biotech Stock News

Amgen and partner, AstraZeneca, said that their experimental psoriasis treatment, brodalumab, fared well in a late-stage study. The encouraging results bring Amgen and AstraZeneca a step closer to regulatory filing though two more phase III studies are still ongoing with results due later this year.

Brodalumab’s success in the first phase III study is good for Amgen which is working on strengthening its product portfolio. According to a recent press release issued by AstraZeneca, analyst estimates for brodalumab range between $0.5 billion – $1.5 billion. However, the psoriasis market is highly crowded with treatments like Stelara and Otezla among others. Moreover, several companies have late-stage candidates in development for the psoriasis market.

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Biotech Financial News

While nothing specific is lined up, stay tuned for the usual pipeline and regulatory updates. Moreover, with AbbVie upping its offer for Shire, these two companies will be in the news as investors mull the renewed offer. If the acquisition goes through, AbbVie will join a string of U.S. health care companies that have been looking towards overseas acquisitions to lower their tax rates. Earnings updates should also start trickling in over the next few days.

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