Pharma Stocks Swing after Pfizer-JNJ Release; Elan Plunges
July 23, 2012 at 18:04 PM EDT
A drug developed by Pfizer (PFE), Johnson & Johnson (JNJ) and Elan Corp. (ELN) to treat Alzheimer’s did not show effectiveness in a late-stage trial, Pfizer announced late on Monday. The news sent shares of Pfizer and J&J down less than 1%, but caused Elan to plunge 14%. “While we are disappointed in the topline [...]
