experimental treatment for moderately to severely active rheumatoid arthritis will not be approved in its current form, according to a complete response letter from the Food and Drug Administration to Gilead. The letter asks for more data and expresses certain concerns about the treatment, but Gilead said it would address the FDA's issues and it still believes in the benefit/risk profile of the treatment.
Hedge fund Third Point sold its entire holdings of Sony's American depositary receipts , according to a Securities and Exchange Commission filing. Third Point still owns a large amount of Sony's Japanese shares, however, a person familiar with the fund told Reuters. is set to buy the over-the-counter drug business of Japan's Takeda Pharmaceutical for $2.37 billion, according to multiple published reports in Japan.
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