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Stocks To Watch: Gilead Sciences Inc. (NASDAQ:GILD), Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)

Gilead Sciences Inc. (NASDAQ:GILD)’s shares declined 0.95% to $89. Two U.S. senators asked Gilead Sciences Inc. to produce documents explaining why its new hepatitis C drug is priced at $84,000, raising renewed concerns over the high costs to taxpayers. In a letter sent on July 11, Sen. Ron Wyden, D-Oregon, and Sen. Chuck Grassley, R-Iowa, asked Gilead to explain whySovaldi’s high price — at $1,000 per pill — differs from other countries and a previous U.S. estimate. Pharmasset, the drug’s original developer, priced the treatment at $36,000, the senators wrote, citing documents filed with the Securities and Exchange Commission.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)’s shares declined 4.28% to $4.92. The company on July 15 announced that it was granted U.S. Patent No. 8,778,950, entitled “Cannabinoid Receptor Modulators,” by the United States Patent and Trademark Office for APD371, an agonist of the cannabinoid receptor 2 (CB2). Arena is exploring several potential indications for APD371, including chronic pain, and is currently conducting a Phase 1 single-ascending dose trial. Arena owns patents and pending patent applications covering compositions of matter for APD371 and related compounds, as well as methods of treatment utilizing APD371 and related compounds.

You won’t believe what we found out about ARNA

Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)’s shares dropped 5.11% to $5.57. The company on July 14 announced that the Pharmacovigilance Risk Assessment Committee (PRAC) of the European Medicines Agency (EMA) has provided the Company with a request for limited additional information regarding Iclusig® (ponatinib) as part of its ongoing review under the Article 20 referral procedure. The PRAC has requested further information regarding proposed dose modifications after achievement of a response and patient monitoring and details concerning a risk management plan. Following ARIAD’s response and input from the agency’s Scientific Advisory Group, the Company expects that the PRAC will complete its review and make final recommendations to the Committee for Medicinal Products for Human Use (CHMP) at its meeting in October 2014.

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Karen Loftus is a Minnesota native, she grew up in Hastings, Minnesota and graduated from Hastings High School. Her passion for news started at a young age. While in high school, she reported and anchored for the school's Friday news segment. Karen Loftus attended St. Cloud State University, majoring in broadcast journalism and minoring in political science. She joined SCSU's news station, UTVS News, in the beginning of her college career. During the summer of 2011, Karen interned at KSTP-TV in St. Paul where she was able to select and write stories for the Hubbard Broadcasting-owned station's web page and community websites. In her free time, Karen enjoys spending time with family, friends, and her family dog Vinnie. Karen enjoys living in the Midwest because of her love for the changing seasons and for her favorite sport, snowboarding. Karen loves to meet new people and to hear their stories. She is thrilled to be reporting in southern Minnesota and to continue to learn more about her new hometown.