Pharmaceutical Sector Review for Second Quarter of 2018
During Q2 2018, the big pharma companies witnessed a satisfactory share of approvals for drugs in the generic as well as pharmaceutical space in addition to trial approvals and news associated with regulations. With pharma companies now inclining more towards biotechnology, the Investing News Network (INN) is inspecting the option of Canadian specialty for investors. Now that Q2 has ended and Q3 of 2018 is in progress, organizations have started to amass financial data in their financial reports that will be released in the upcoming weeks.
INN’s review of Q2 in the pharmaceutical sector shows that FDA approvals are among the most significant factors boosting the value of pharma companies. With a massive base of approved products, pharma companies continue to receive new approvals and in turn, more attention from investors. Acadia Pharmaceuticals (NASDAQ: ACAD) has recently received FDA approval for a new capsule dose to improve the quality of treatment for patients experiencing hallucinations and delusion associated with Parkinson’s disease psychosis. With regard to generics, Teligent (NASDAQ: TLGT) has also received approval for its new drug application (NDA) of fluocinonide gel. Teligent had received its FDA approval for diflorasone diacetate ointment 0.05 percent earlier during the quarter, which was the company’s sixth approval in 2018 and 25th overall.
Although approval is the biggest goal of new drugs, companies are also focused on receiving affirmative opinions from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA). In addition, companies have goals pertaining to approvals for investigational new drug (IND) applications as well as clinical trials. Moleculin Biotech (NASDAQ: MBRX) had its second clinical trial approved by the Polish National Office for the study of annamycin that is used to treat relapsed or refractory acute myeloid leukemia. However, Valeant’s attempt to seek approval for DuoBrii was dismissed by its NDA.
With regard to specialty pharma in Canada, the range of investors differs significantly when compared with the investors in the US. A majority of investors in Canada are inclined towards medical marijuana along with the country’s natural resource sector. Correvio is predicted to be among the companies that will receive more attention from investors in the near future. In addition to regulatory news on Brinavess, Correvio has closed a sale with Cipher Pharmaceuticals.