ARTICLE | Finance

Regulatory milestones

Highlights of weekly biotech stock moves

September 13, 2010 7:00 AM UTC

Forest Laboratories Inc. (NYSE:FRX) gained $0.18 to $29.74 last week after FDA's Anti-Infective Drugs Advisory Committee voted unanimously that ceftaroline was a safe and effective treatment for community-acquired bacterial pneumonia (CABP) and complicated skin and skin structure infections (cSSSIs). Forest expects an FDA decision on the cephalosporin antibiotic next quarter (see "Complicated but Uncontroversial," A18).

Shire plc (LSE:SHP; NASDAQ:SHPGY) was up 48p to 1,499p last week, while the stock gained $1.94 to $69.38 on NASDAQ, after the company said it no longer intends to withdraw ProAmatine midodrine and now plans to appeal FDA's proposal to pull orthostatic hypotension drugs because required post-approval studies were not conducted. ProAmatine had 2009 sales of about $500,000 (see B9)...