Healthcare shares fell.
Big drug news was in focus as Eli Lilly said results from a Phase 3 trial showed that the company's investigational Alzheimer's treatment donanemab significantly slowed cognitive and functional decline in people in the early stages of the disease. Earlier this month, Biogen received full approval from the FDA for its Alzheimer's drug Leqembi.
Meanwhile, parents have a new tool to protect their newborns from a common but potentially deadly respiratory virus that sends tens of thousands of babies to the hospital each year.
The Food and Drug Administration on Monday approved the first drug to protect all infants against respiratory syncytial virus. RSV is the leading cause of hospitalization of infants in the U.S., killing as many as 300 children under the age of 5 each year.
Novan said Monday that it has entered into a stalking horse asset purchase agreement with Ligand Pharmaceuticals prior to filing voluntary petitions for relief under chapter 11 of the U.S. Bankruptcy Code in Delaware.
In addition, ViewRay, which makes the MRIdian radiation-therapy system for cancer patients, said it has filed for bankruptcy after years of unprofitable operations, and plans to sell some or all of its assets.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
07-17-23 1708ET
