Incyte Corp on Tuesday
reported fourth-quarter profit below Wall Street estimates, hit
by higher costs related to its products such as skin disorder
drug Opzelura and forecast weak sales for its lead.
British biotech Exscientia Plc
said on Tuesday it had dismissed CEO Andrew Hopkins
after an investigation found that his relationship with two
employees was inconsistent with the company s standards.
Gilead Sciences said on Wednesday the U.S. Food and Drug Administration had put a hold on trials testing the company's blood cancer drug following increased risk of patient.
The company will stop testing the drug, magrolimab, for all blood cancers and will review its safety across other studies such as those in patients with colon and breast cancers. Gilead gained access to the drug through its $4.9 billion purchase of Forty Seven Inc in 2020. An analysis of a late-stage trial and other studies showed an increased risk of death, the company said, adding it also showed that the drug was unlikely to succeed in the trials.
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