A Philadelphia judge has reduced the amount of punitive damages Johnson & Johnson (JNJ +0.6%) must pay in a product liability lawsuit related to antipsychotic med Risperdal (risperidone). The plaintiff claimed that his use of the medication when he was a child caused enlarged breasts and the company failed to adequately warn about this risk.
A jury initially awarded the man $680K in compensatory damages and $8B in punitive damages, the latter of which the judge reduced to $6.8M.
The plaintiff’s attorney plans to appeal the reduced award while JNJ plans to appeal the verdict.
The Redwood City, CA-based biotech develops cancer therapies that, it says, inhibit elusive, high-value frontier targets with notorious growth and survival pathways such as RAS and mTOR. Lead candidate is RMC-4630, an SHP2 inhibitor, in Phase 1/2 development with collaboration partner Sanofi.
As expected, the European Commission approves Jazz Pharmaceuticals’ (NASDAQ:JAZZ) Sunosi (solriamfetol) to improve wakefulness and reduce excessive daytime sleepiness (EDS) in adults with narcolepsy (with or without cataplexy) or obstructive sleep apnea (OSA) whose EDS has not been satisfactorily treated by primary OSA therapy, such as continuous positive airway pressure.
Two months ago, the advisory group CHMP adopted a positive opinion backing approval.
The company in-licensed the dual-acting dopamine and norepinephrine reuptake inhibitor from Aerial Biopharma LLC in 2014.
AstraZeneca liver cancer treatments win orphan FDA status
Two AstraZeneca (NYSE:AZN) cancer drugs received have orphan status for treatment of liver cancer by the FDA, a designation that may eventually speed progress to approval.
The special status was granted to Imfinzi, a lung cancer treatment, and tremelimumab, which has been tested in a combination in a variety of cancers.
Lynparza, another Astra drug, was also given FDA priority review for a severe form of prostate cancer, the company said separately.
PetMed Express Q3 2020 Earnings Preview
PetMed Express (NASDAQ:PETS) is scheduled to announce Q3 earnings results on Tuesday, January 21st, before market open.
The consensus EPS Estimate is $0.30 (-21.1% Y/Y) and the consensus Revenue Estimate is $61.31M (+2.1% Y/Y).
Over the last 2 years, PETS has beaten EPS estimates 75% of the time and has beaten revenue estimates 63% of the time.
Over the last 3 months, EPS estimates have seen 2 upward revisions and 0 downward. Revenue estimates have seen 0 upward revisions and 1 downward.
