A drug jointly developed by Acadia Pharmaceuticals (NASDAQ:ACAD) and Biovail (NYSE:BVF) to treat Parkinson’s-related psychosis has failed to meet its primary endpoint in a first late-stage trial.
The drug, pimavanserin, did not meet its goal as an antipsychotic, but did meet a secondary goal of motoric tolerability, Acadia said.
Acadia shares are trading down nearly seventy percent Tuesday, while shares of Biovail are trading down about one and a half percent.
Also in pharma news today, Hospira (NYSE:HSP) said the Food & Drug Administration approved it applications for six new presentations of anti-clotting drug heparin in single and multi-dose vials.
Heparin prevents clot formation in central venous catheters and is used for blood thinning therapy. Hospira said it now offers one of the broadest portfolios of heparin delivery, available in syringes, vials and flexible containers.
Hospira shares are trading down about four tenths of a percent early Tuesday.
For MarketNewsVideo.com, I'm Michael Phillips.
