Shares of pharmaceutical companies Amylin, Alkermes, and Eli Lilly -- partners in a new diabetes drug Bydureon -- have tanked in morning trading as the U.S. Food and Drug Administration declined on Tuesday to approve the drug without additional clinical studies.
Drugmaker Alkermes said Tuesday it has received U.S. approval to market its addiction medication for use in patients addicted to narcotics like heroin and morphine. Vivitrol, a monthly injection, is already approved for alcoholism.
A U.S. Food and Drug Administration advisory panel voted on Thursday in favor of expanding Alkermes' alcohol addiction treatment drug, Vivitrol, to treat opioid addiction.
Pharmaceutical giant Roche said Friday that it would delay an FDA filing for its new diabetes drug for 12 to 18 months due to safety concerns. The beneficiary of Roche's misfortune is rival Amylin, which now jumps ahead in the race to get first approval of a once-weekly injectable type 2 diabetes drug.