Samsung Electronics is known for its smartphones, TVs and memory chips. Now it wants to tackle biopharmaceuticals, on Friday announcing a new joint venture to produce drugs to treat cancer and arthritis.
Pfizer shares were down more than 1% Monday afternoon despite the pharmaceutical giant's report Sunday of successful late-stage trial results for an experimental rheumatoid arthritis drug. The study showed tasocitinib reduced pain and inflammation and improved physical function in patients with moderately to severely active RA.
AstraZeneca and Pozen announced Monday that their pain reliever Vimovo for the treatment of arthritis had received positive agreement for approval by the 23 E.U. nations. Vimovo is a combination drug that reduces the risk of ulcers for frequent NSAID users.
Pharmaceutical giant Eli Lilly -- maker of Prozac and Cialis -- is expected to post solid fourth-quarter profits on Thursday after a recent restructuring. But the results will likely be lower than the year-ago quarter.