Statins work great when it comes to lowering cholesterol levels and reducing the risk of heart events.

Teva Pharmaceutical Industries Ltd got a green signal from the U.S. Federal Trade Commission to buy Actavis Inc, Allergan Plc's generic drug-making unit for $40.5 billion as the companies agreed to divest seventy nine existing and future drugs. That includes antibiotics, weight-loss drugs, anesthetics as well as oral contraceptives. They are used in ADHD treatments, treatments for allergies, arthritis, diabetes, high blood pressure, cancer, mental illness, pain, Parkinson's disease and respiratory, skin and sleep disorders and others.

Vertex Pharmaceuticals Inc's director Joshua S. Boger sold 5,140 shares of Boston, Massachusetts based Vertex Pharmaceuticals stock on Wednesday, July 6th. The total transaction was $457,408.60 at an average price of $88.99.

After the sale the director currently owns 273,365 shares of the company's stock as disclosed in a legal filing with the SEC.

Carlsbad, California based Regulus Therapeutics Inc. is a biopharmaceutical company that is involved in discovery and development of pioneering medicines which target microRNAs. The company announced it has received a verbal notice from the U. S. Food and Drug Administration (FDA) which says its Investigational New Drug RG-101, which aims at treating chronic hepatitis C virus infection, has been placed on clinical hold.

On Monday, Sarepta Therapeutics Inc's shares spiked during late trading hours with news that the U.S. Food and Drug Administration has asked for more information from the drug maker regarding its experimental treatment for muscular dystrophy.

Sarepta's shares climbed a sharp thirty one percent during the afterhours trading to $21.05.

On Friday, Valeant Pharmaceuticals said it has received a default notice from two lenders. The company said it has defaulted on some debts following its failure to submit a public filing. That gives the troubled drug maker two months to make the matters right.

The company failed to file its first-quarter earnings statement which is also known as a 10-Q form, on time to the U. S. Securities and Exchange Commission.