FDA's Milestone for Opdivo, Legal Hurdles for Hain Celestial, and More in Health Sector

The FDA approved an injectable version of Opdivo, a cancer drug by Bristol Myers Squibb. Axsome plans to seek approval for its Alzheimer's-related drug despite mixed results. Hain Celestial faces legal action over arsenic in baby food, while Sangamo's shares plummet after Pfizer ends a gene therapy deal.

The FDA has approved an injectable form of Opdivo, a blockbuster cancer drug from Bristol Myers Squibb, offering new hope in PD-1 inhibitor therapies. This move marks a significant development in cancer treatment, aiming to bolster the immune system's response by lifting its natural constraints.

In other news, Axsome Therapeutics plans to pursue marketing approval for its Alzheimer's-related drug next year, despite inconsistent data from late-stage trials. The announcement led to a sharp drop in its stock value, reflecting market concerns over the drug's efficacy.

Legal challenges loom for Hain Celestial as a U.S. judge has allowed a class action lawsuit for undisclosed arsenic levels in baby food products to proceed. Meanwhile, amid industry shifts, Sangamo's shares plunged after Pfizer withdrew from their gene therapy partnership, prompting Sangamo to seek new collaborations.

(With inputs from agencies.)