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MorphoSys AG reports Q1 results

MorphoSys AG (OTCPK:MPSYF): Q1 GAAP EPS of €6.11.

Revenue of €251.22M (+1754.0% Y/Y)

https://seekingalpha.com/news/3570789-morphosys-ag-reports-q1-results

FDA OKs Dr. Reddy’s migraine med Elyxyb

The FDA approves Dr. Reddy’s Laboratories’ (RDY +2.3%) Elyxyb (celecoxib oral solution 25 mg/mL) for the acute treatment of migraine in adults with or without aura.

The company plans to commercialize the product through partners.

https://seekingalpha.com/news/3570371-fda-oks-dr-reddys-migraine-med-elyxyb

FDA OKs Novartis’ Tabrecta for certain lung cancer patients

Incyte (INCY -1.9%) announces that the FDA has approved exclusive licensee Novartis’ (NVS +1.2%) Tabrecta (capmatinib) for the treatment of adult patients with metastatic non-small cell lung cancer (NSCLC) whose tumors have a mutation that leads to MET exon 14 skipping (METex14) as detected by an FDA-approved test. The nod applies to a first-line setting as well as previously treated patients regardless of prior treatment type.

The approval triggers a $70M milestone payment to Incyte who will also receive 12-14% royalties on net sales.

METex14 occurs in 3-4% of newly diagnosed NSCLC cases. Capmatinib, an oral MET inhibitor, is the first such drug approved in the U.S. for these patients.

https://seekingalpha.com/news/3570367-fda-oks-novartis-tabrecta-for-certain-lung-cancer-patients