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Genetech slips after warning about stroke risk in blindness treatment

Genetech slips after warning about stroke risk in blindness treatment

Shares of Genentech Inc. fell after the biotech company warned a group of eye specialists about an increased risk of stroke in elderly patients taking its drug to treat age-related blindness.
The South San Francisco, California, company sent a letter earlier this week to 1,500 eye specialists warning that interim results from an ongoing trial of its drug Lucentis had demonstrated the higher incidence of strokes.
In after-market trading, Genentech fell 38 cents to $86.20 on the New York Stock Exchange, after finishing Friday down 89 cents, or 1.02 percent, at $86.57.
The Wall Street Journal reported a company spokeswoman downplayed the alert as a proactive step to inform doctors about the occurrence of the strokes, which are consistent with risks of the drug noted on the label under "warnings and precautions."


Updated : 2021-04-23 04:13 GMT+08:00