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The irreverent producers of "Squawk on the Street" who are stationed in the pod next to mine here at CNBC like to call it "Pharmapalooza." They're referring to weeks like the one coming up when nearly every big drug company reports earnings.
The world's biggest drug company kicked off pureplay pharma earnings season this morning with disappointing results that look to be dragging down the whole sector. PFE missed Wall Street expectations on revenue and profits.
Two leading researchers warn that the entry of big companies like Microsoft and Google into the field of personal health records could drastically alter the practice of clinical research and raise new challenges to the privacy of patient records
The world's biggest pharma company is stepping up to the plate again. After the closing bell today PFE announced it's doing a deal worth up to $440 million over time with a baby biotech called Avant Immunotherapeutics.
After navigating what has to be one of the most frustrating paths to Food and Drug Administration approval of a new drug, the small biopharma company Pozen and its big pharma partner GlaxoSmithKline have finally emerged victorious.
Dow component and healthcare conglomerate (drugs, consumer products, medical devices) Johnson & Johnson beat and boosted. That's Wall Street jargon for earnings coming in higher than expectations and the guidance for the rest of the year being raised. So, why did the stock go down?
It's not Carl Icahn. Earlier this month I blogged about a mysterious institutional investor taking a big stake in the ever-popular biotech Dendreon. DNDN's CFO was quoted as saying the secret admirer was familiar with biotech leading some to speculate it might be the billionaire activist investor who has taken stakes in Biogen-Idec, MedImmune and ImClone, just to name a few.
Can we please get some upside earnings reports this quarter? No financial exposure here. Instead, this Dow Industrial has plenty of overseas business to be helped by the weaker dollar and guardedly optimistic expectations for key business segments.
On Friday I did a sidebar story on what might be ailing General Electric's healthcare business. (Disclosure: CNBC is owned by NBC Universal, which is a unit of GE). It was responsible for a penny of the earnings miss. On "Squawk Box" that morning CEO Jeff Immelt said the longer-than-expected closure of a manufacturing plant was partially to blame.
I know that a number of pharma and biotech PR people read this blog, so I wanted to hold up the Genentech earnings release as what I think is a great example of user-friendliness. It is really heads and shoulders above the quarterly communications that come out of most of the companies I cover.
Genentech reported earnings that edged forecasts, but sales of all four of its big brand-name drugs fell short of forecasts.
This morning there's a plethora of stuff to blog about: the Takeda-Millennium deal, more commentary about Merck and Schering-Plough and the extent of the Vytorin/Zetia fallout, Genentech's biotech bellweather earnings after the closing bell today, just to name a few.
CNBC and other media outlets have done a significant amount of reporting on cardiologists' reaction to the Vytorin/Zetia study and the effect the ACC panel's opinion might have on the heart doctors' prescription writing.
This morning a little biotech company, Antigenics, announced that Russia has approved its kidney cancer drug Oncophage. It's the first so-called therapeutic cancer vaccine to win full-out approval anywhere in the world.
The Star-Ledger of New Jersey this weekend did a story that I think provides the best insight and backstory about what happened last week at the highest levels of Schering-Plough.CEO Fred Hassan was in Miami when doctors dropped the bomb on Vytorin and Zetia at the American College of Cardiology meeting.
This week started out with Merck shares suffering their worst loss since the day the drugmaker recalled Vioxx and Schering-Plough shares posting their worst one-day decline ever. But yesterday, SGP had its biggest percentage gain in eight years and today it's finishing the week as the sector's biggest percentage gainer.
Last night while on the elliptical and watching "NBC Nightly News," one spot amid the wall-to-wall commercials for drugs caught my attention. It looks like after 10 years since the first erectile dysfunction pill came on the market--Pfizer's Viagra celebrated a decade since winning FDA approval last week--the makers of Levitra are trying a new marketing tack.
The small biotech company Dendreon put out a press release this morning announcing that an unidentified institutional investor is going to buy eight million shares and warrants to buy as much as another eight million for a total infusion of $47 million.
After the closing bell yesterday, Amgen put out a press release announcing that phase 3 pivotal data are being published in a scientific/medical journal about its most important drug development pipeline product--an osteoporosis drug known as D-mab. (Whenever you see the letters mab at the end of the scientific name for a drug it means it's a monoclonal antibody).
Plus, Cramer defends Verizon's Ivan Seidenberg while breaking down how MedcoHealth trades.