Regulatory reviews rocked health stocks, such as Wyeth (WYE), in both directions, while earnings gave others a nudge on Tuesday.
The Food and Drug Administration
On the other hand, the FDA granted Neurochem's (NRMX) investigational Alzheimer's treatment candidate tramiprosate Fast Track status, which expedites the review of drugs that treat serious or life-threatening conditions and that address an unmet medical need for a condition.
Neurochem is meeting with the FDA in August to discuss tramiprosate's phase III program. The company's stock climbed 34 cents, or 5.8%, to $6.22.Also, the FDA's Oncologic Drugs Advisory Committee voted to recommend approval for Eli Lilly's (LLY - Get Report) osteoporosis drug evista for a new use to reduce invasive breast cancer risk in postmenopausal women with osteoporosis and postmenopausal women at a high risk for breast cancer. The recommendation, however, is nonbinding. The company reported