An Amgen drug to treat secondary hyperparathyroidism was rejected by U.S. regulators Wednesday but the biotech company offered no public explanation for why the drug's marketing application was denied.
The Nasdaq Biotechnology Index fell 3.5% heading into Wednesday's close, with the loss triggered by a statement from Clinton's presidential campaign blasting Mylan for 'outrageous' pricing of the EpiPen.
Shares of biotech micro-cap Cyclacel Pharmaceuticals have doubled in price in the past 10 days. Call it the Lloyd Christmas effect.
Acquiring Medivation will strengthen Pfizer's oncology franchise, which has lost ground in recent years to some Big Pharma competitors.