Stocks Buzz: Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), Home Depot Inc (NYSE:HD)
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Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) declined -0.09% to $31.92 on Wednesday, while it gained 0.81% in pre-market soon after a pharmaceutical company declared that the National Institute for Health and Care Excellence (NICE) in England has recommended CINQAERO® (reslizumab) in its Final Appraisal Determination (FAD). CINQAERO® is a humanized interleukin-5 (IL-5) antagonist monoclonal antibody for add-on therapy in adult patients with severe eosinophilic asthma inadequately controlled despite high-dose inhaled corticosteroids plus another medicinal product for maintenance treatment.
“Despite the availability of current treatment options, many patients with severe eosinophilic asthma still experience uncontrolled symptoms and serious asthma attacks,” said Ian Pavord, Professor of Respiratory Medicine at the University of Oxford. “The NICE decision will be welcomed by the clinical community as it provides access to a new treatment option for these patients.”
“Reslizumab has the potential to dramatically improve the quality of life for some people living with severe asthma, and we are delighted that it has been recommended for use on the NHS,” said Kay Boycott, Chief Executive of Asthma UK. “New monoclonal antibody treatments, which have shown success in clinical trials are likely to be effective in treating around 30-40% of those living with severe asthma, so it is imperative that they are made available. While recently’s news is an encouraging step forward, it’s important to note that these treatments will only benefit a certain group of people. There remain many thousands more for whom no effective treatments are available. More research is needed so that in the future all people with severe asthma will have an effective treatment option.”
This decision is based on a dossier presented to NICE for a Single Technology Appraisal (STA).
“Teva is very happy to receive this decision by NICE as we seek to expand the availability of reslizumab (CINQAERO®) globally in an effort to ensure that patients living with severe, uncontrolled asthma have access to this treatment option,” said Sven Dethlefs, SVP and Head of Global Respiratory Medicines at Teva. “The future of respiratory care shows great promise, and we are proud to be at the forefront of providing innovative medications for such a patient population whose quality of life is often severely influenced by asthma.”
The European Commission granted marketing authorization for CINQAERO® in August 2016 as an add-on therapy in adult patients with severe eosinophilic asthma inadequately controlled, despite high-dose inhaled corticosteroids plus another medicinal product for maintenance treatment. Most recently, the German Federal Joint Committee (G-BA) confirmed that CINQAERO® offered additional benefit in July 2017, with price negotiations with the National Association of Statutory Health Insurance Physicians starting four weeks after the G-BA decision.
The stock settled at $31.92 per share, after floating in a range of $31.68 to $32.26. The stock moved on low volume, traded at a volume of 3.92 million shares, as compared to its average daily volume of 7.65 million shares. The market capitalization billion for the company is reported at $32.17.
Home Depot Inc (NYSE:HD) opened at $152.55. It reached an intraday trading high of $154.00 and closed at $153.30. The stock price inclined +1.13 points or 0.74% at the market. The total volume traded for the day is 2.80 million, as compared to its average daily volume of 4.47 million shares. The current EPS for the company has been recorded at $6.68 and the beta value recorded by the company stands at 1.09 points.