Medical Breakthrough Boom
On Tuesday we received word of three exciting medical advancements. Find out what’s happening and how to trade them.
A new Alzheimer’s drug called bapineuzumab worked in a substantial number of patients in an intermediate clinical trial, supporting a prior decision to start final Phase III tests. If successful in final-stage trials, the medicine could be the world's first drug to modify the course of Alzheimer's rather than just relieving its symptoms.
Some analysts have forecast eventual annual sales of $13 billion, which would make it the biggest drug ever. The drug comes from Elan and Wyeth.
It’s always good to see something like this but it’s a Phase II trial, says Pete Najarian. I’m watching Myriad Genetic for their Alzheimer’s drug that’s in Phase III trials.
A new drug from Teva Pharmaceutical showed promising results as a Parkinson's treatment. 1 mg tablets of the drug Azilect slowed the progression of the neurological disorder in a Phase III trial. According to Gal Reiter, an analyst at Israeli brokerage Clal Finance, Azilect could become the leading drug in the treatment of Parkinsons in only a few years.
I think it’s great news for Teva and great news for all of us, says Najarian.
Allergan received Food and Drug Administration approval for an injectable eye drug to treat retinal diseases. Trivaris, which is injected directly into the eye, is a steroid that reduces inflammation of the retina that can lead to vision loss.
I think this is huge, Najarian says.
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