July was a busy month for the life science space. Here the Investing News Network takes a look at what some of the biggest news was for the various sectors.
With the month of July now over, the Investing News Network (INN) is taking a look at some of the biggest news during that month for the life science sectors. While the summer season can often be a time for slow news, this video offers a positive roundup, regardless of the time of year.
Pfizer (NYSE:PFE) and Novartis (NYSE:NVS) both halted plans to increase drug prices due to pressure from President Donald Trump to reduce prices. Prior to the start of the year, Trump has been increasingly focused on reducing the prices of pharmaceuticals. However, Pfizer and Novartis marks the first few impacts on the pharmaceuticals market.
As for US Food and Drug Administration (FDA) approvals, Progenics (NASDAQ:PGNX) also received approval for Azedra, a rare tumor treatment of the adrenal gland and AbbVie (NYSE:ABBV) and Neurocrine Biosciences (NASDAQ:NBIX) received FDA approval for Orilissa, a treatment for endometriosis pain.
In regards to M&A activity, Apricus Biosciences (NASDAQ:APRI) announced a merger, in an all-stock settlement with the private biotech company Seelos Therapeutics. The the latter will be the company’s name with a ticker symbol “SEEL” on the NASDAQ.
Later in the month, Netflix (NASDAQ:NFLX) released a documentary called the Bleeding Edge about the negative side of five medical devices, along side patient experiences. Aside from revealing truths about these medical devices, the documentary questions the power of medical device companies and the FDA’s role in guaranteeing the safety of the medical devices. Aside from interviews with physicians, the film hears from a number of patients who use the devices mentioned.
Bayer responded by announcing it would drop Essure, one of the medical devices mentioned in the film, by the end of the year. That said, Bayer maintains it is not dropping the product due to the film and believes the film inaccurately depicts its device.
Watch the video above for more insight into what happened in the life science sectors for the month of July.
Don’t forget to follow us @INN_LifeScience for real-time news updates!
Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.