Health-care shares fell.
Pfizer is organizing itself into three different businesses as it continues to mull the future of its over-the-counter medicines unit. The drug maker said Wednesday it will have an innovative medicines business, a consumer health-care division, which includes the company's over-the-counter drugs, and an established medicines division, which would have brands such as Viagra and Lipitor. The company said the innovative medicines and consumer health-care divisions will make up around 75% of the company's revenue.
AbbVie shares fell after it said a phase 3 study of Imbruvica in an aggressive form of non-Hodgkin lymphoma didn't meet its primary endpoint.
Meanwhile, Medtronic said it received FDA approval for a less-invasive implant approach of its HVAD System, a left ventricular assist device for patients with advanced heart failure.
Idera and BioCryst Pharmaceuticals called off merger plans after BioCryst shareholders voted against the proposal. (firstname.lastname@example.org)