Merck & Co. (NYSE:MRK) and Bristol-Myers Squibb Co. (NYSE:BMY) Under FDA Scrutiny

The Food and Drug Administration (FDA) has started a safety assessment of diabetes medicines from Merck & Co. (NYSE:MRK) and Bristol-Myers Squibb Co. (NYSE:BMY) on doubts that they could result in pancreatic diseases, The Wall Street Journal announced late on Thursday.

The FDA reported that it was looking for more information regarding how those firms’ drugs that are used to cure type-2 diabetes could start inflammation of the pancreas and perhaps result in precancerous cell changes, the WSJ declared.

But the FDA also stated that it had not come to the finding that those medicines might result in cause or contribute to the progress of pancreatic cancer. Medical researchers have in previous few years mentioned issues with Bristol-Myers’s (BMY) Byetta and Bydureon and Merck’s Januvia, the report added.

Merck & Co., Inc (NYSE:MRK) shares are down -0.63% to $43.99 while the stock is traded within the range of $43.79 – $44.09 in the current trading session. In the last 12 months the shares have traded between $37.02 and 48.00. The current session’s volume of 8.92 million shares is lower than their average daily trading volume of 19.40 million shares.

Both stocks (MRK), Bristol-Myers’s (BMY) gained investors focus on Friday following the Food and Drug Administration began assessing diabetes drugs in wake of proof that they could result in to pancreatic disease, as per reported in The Wall Street Journal.

At the current trading session, Bristol Myers Squibb Co (NYSE:BMY) shares decreased -0.05% to $38.47 while The Stock traded within the range of $38.26 – $38.52. In the past year, the stock has traded within a range of $30.64 – $38.61. The current session’s volume of 2.99 million shares is down from the average daily trading volume of 8.63 million shares.

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