SPOTLIGHT: Rival drug drives QLT stock lower

Analysts downgraded QLT, which makes Visudyne, the dominant drug for age-related macular degeneration, after Genentech reported impressive results from clinical trials of its new treatment for the disease, Lucentis. QLT's stock dropped to a 52-week low as the news hit the market. The stock closed at $11.75, down $1.07, after touching a new low of $11.62 early in the session. It was quoted at $21 in January. Article

Suggested Articles

The public financing will enable Monopar to start a phase 3 trial of a prophylactic treatment for a side effect of chemoradiotherapy. 

The dispute centers on whether Asa Abeliovich used Alector’s confidential information in connection with his work for Prevail Therapeutics.

GSK poaches Merck KGaA's Martinez-Davis to helm pharma stateside; Bulto named Novartis U.S. pharma head; Allergan's Saunders set for huge parachute.