Healthcare shares experienced a decline, impacted by recent developments in the pharmaceutical industry. Eli Lilly released findings from a Phase 3 trial highlighting their investigational Alzheimer’s treatment, donanemab. The trial showed significant cognitive and functional decline reduction in individuals in the early stages of the disease. Similarly, Biogen obtained full FDA approval for their Alzheimer’s drug, Leqembi.
Protecting Newborns from Respiratory Syncytial Virus
One of the recent breakthroughs in healthcare involves shielding newborns from respiratory syncytial virus (RSV), a common but potentially fatal respiratory infection that sends numerous infants to the hospital annually. The Food and Drug Administration granted approval for the first drug capable of safeguarding all infants against RSV. This virus is the main cause of hospitalization among infants in the United States and leads to the tragic deaths of up to 300 children under the age of 5 each year.
Novan’s Asset Purchase Agreement
Novan, a pharmaceutical company, announced on Monday their entry into a stalking horse asset purchase agreement with Ligand Pharmaceuticals. This agreement paves the way for Novan to file voluntary petitions for relief under chapter 11 of the U.S. Bankruptcy Code in Delaware.
ViewRay Files for Bankruptcy
ViewRay, the manufacturer of the MRIdian radiation-therapy system for cancer patients, has filed for bankruptcy following several years of unprofitable operations. As part of their recovery plan, ViewRay intends to sell some or all of its assets.