|Bid||0.00 x 0|
|Ask||355.30 x 0|
|Day's Range||353.60 - 363.60|
|52 Week Range||268.13 - 438.85|
|PE Ratio (TTM)||40.03|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Coherus BioSciences Inc said on Monday the U.S. Food and Drug Administration (FDA) declined to approve its biosimilar copy of Amgen Inc's blockbuster treatment, Neulasta, which is used to fight infections in cancer patients. Shares of Coherus tumbled 30 percent to $14.47 in morning trading, while Amgen's shares were up slightly at $164.19.
India's antitrust regulator has ordered a probe into Swiss drugmaker Roche for allegedly using anti-competitive practices to restrict cheaper copies of a blockbuster cancer drug from reaching patients. Trastuzumab has been a mainstay of Roche's profit for years and brought in global sales of about $6.7 billion in 2016, but it has been challenged in the last three years by biosimilars which are sold at about a 25 percent discount to the original. India's Biocon and U.S. firm Mylan, which together sell biosimilars of the drug in over a dozen countries including India, filed a complaint with the Competition Commission of India (CCI) last year alleging Roche misled doctors and regulators to thwart competition to trastuzumab.
Mylan N.V. (MYL) and Biocon Ltd. announced that the FDA has accepted their biologics license application for a biosimilar version of Amgen's (AMGN) Neulasta (pegfilgrastim) - MYL-1401H.