Sumitomo Pharma shares plunge despite greenlight for Parkinson’s treatment
Kelvn | Istock | Getty Images Shares of Japanese drugmaker Sumitomo Pharma fell over 12% Friday on what appeared to be profit-taking, a day after the government endorsed the company’s iPS cell-based therapy for Parkinson’s and heart disease. The decision is a milestone in Japan’s years-long effort to cultivate a homegrown sector focused on cutting-edge…