Breaking Developments in Health: From Drug Trials to Stock Market Surges
The latest health news roundup covers GSK and Spero halting a UTI drug trial after achieving study goals, Alcon's FDA-approved dry-eye drug, CVS’ legal challenge against an Arkansas law, Granules India's declining profits, iTeos' restructuring, and other significant happenings in the sector.
In a wave of health industry developments, Spero Therapeutics and partner GSK have halted a late-stage trial for their UTI drug, citing early success, sending Spero's shares soaring. Meanwhile, the US FDA has greenlit Alcon's latest dry-eye treatment, fueling company growth ambitions post-2019 Novartis spin-off.
Legal battles loom as CVS and Express Scripts challenge an impending Arkansas law restricting pharmacy benefit managers from owning pharmacies. In corporate financial news, Granules India faces declining profits due to decreased prices in its primary Western markets, while iTeos Therapeutics restructures following a cancer drug failure.
Further noteworthy developments include Brazil averting a bird flu outbreak, Omada Health's substantial IPO ambitions, and the US lifting restrictions on Mexican cattle imports after addressing screwworm infestations. Attention also turns to the regulatory hurdles faced by Boston Scientific, stemming from evolving clinical device standards.
(With inputs from agencies.)
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