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Health Care Shares Fall; Pfizer to Reorganize - Health Care Roundup

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07/11/2018 | 11:22pm CEST

Health-care shares fell.

Pfizer is organizing itself into three different businesses as it continues to mull the future of its over-the-counter medicines unit. The drug maker said Wednesday it will have an innovative medicines business, a consumer health-care division, which includes the company's over-the-counter drugs, and an established medicines division, which would have brands such as Viagra and Lipitor. The company said the innovative medicines and consumer health-care divisions will make up around 75% of the company's revenue.

AbbVie shares fell after it said a phase 3 study of Imbruvica in an aggressive form of non-Hodgkin lymphoma didn't meet its primary endpoint.

Meanwhile, Medtronic said it received FDA approval for a less-invasive implant approach of its HVAD System, a left ventricular assist device for patients with advanced heart failure.

Idera and BioCryst Pharmaceuticals called off merger plans after BioCryst shareholders voted against the proposal. ([email protected])

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