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Pharmaceuticals

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  • UPDATE 6-French drugmaker Sanofi sacks CEO, shares drop Wednesday, 29 Oct 2014 | 12:36 PM ET

    *Sanofi board says not changing company's strategy. PARIS, Oct 29- Sanofi's board ousted its chief executive of six years on Wednesday, criticising him for an authoritarian management style that was often popular with investors as he lifted the French drugmaker onto the global stage. Sanofi said it would continue the international expansion pursued under...

  • Lilly, Boehringer revise terms of diabetes drugs alliance Wednesday, 29 Oct 2014 | 8:55 AM ET

    Oct 29- Eli Lilly and Co and German drugmaker Boehringer Ingelheim said they had revised the structure of their diabetes alliance for some countries. Under the alliance signed in 2011, the companies had agreed to develop and market diabetes drugs together. Boehringer and Eli Lilly said on Wednesday that they would continue joint development and marketing of...

  • UPDATE 1-Behind the scenes of Sanofi's boardroom bust up Wednesday, 29 Oct 2014 | 8:25 AM ET

    PARIS, Oct 29- A boardroom tussle brewing for months at Sanofi came to a head on Wednesday when France's top drugmaker fired its chief executive, wiping more billions off its share price. While the showdown played out in leaks to national newspapers has stunned investors as a "how not to do it" guide to corporate governance, the writing was on the wall in the...

  • UPDATE 4-French drugmaker Sanofi sacks CEO Viehbacher Wednesday, 29 Oct 2014 | 5:42 AM ET

    *Sanofi board says not changing company's strategy. PARIS, Oct 29- Sanofi's board ousted its chief executive of six years at a special meeting on Wednesday, two days after it emerged he had fallen out with the French drugmaker's chairman, wiping more billions off its market value. The board said Sanofi would continue the strategy of international expansion...

  • Sanofi ousts CEO over management style, sales drop Wednesday, 29 Oct 2014 | 4:37 AM ET

    PARIS— French drugmaker Sanofi sacked its CEO Wednesday following a board room rift over his way of handling one of France's largest publicly traded companies. Christopher Viehbacher, the first non-Frenchman to lead Sanofi, was dismissed after six years running the company that traces its roots to the early 19th century. He orchestrated the $20 billion...

  • Rising health-care costs not a trend: Aetna CEO Tuesday, 28 Oct 2014 | 4:56 PM ET
    Mark Bertolini, CEO of Aetna.

    People may be worried that health-care costs will increase and become a trend, Aetna's CEO said he's not.

  • Sex, drugs and biotechs in nasty divorce case Tuesday, 28 Oct 2014 | 1:33 PM ET
    Screen shot of Marc Beer on CNBC

    A nasty Wall Street divorce has touched two biotech CEOs and appears to have moved their company stocks down over drug use allegations.

  • Oct 28- Pfizer Inc reported stronger-than-expected quarterly results, helped by growing sales of its cancer drugs and demand for its medicines in emerging markets, but did not signal any acquisition plans in the wake of its recent failed efforts to buy rival British drugmaker AstraZeneca Plc. Excluding special items, Pfizer earned 57 cents per share.

  • Pfizer's 3Q beats on emerging market growth Tuesday, 28 Oct 2014 | 7:45 AM ET

    WASHINGTON— Pfizer reported better-than-expected third quarter earnings Tuesday as higher sales in emerging markets like China helped offset missing revenue from former blockbuster drugs that have lost patent protection. Like many other drugmakers, Pfizer has lost patent exclusivity on several of its biggest blockbuster drugs that had raked in...

  • PARIS, Oct 28- French drugmaker Sanofi said sales growth at its leading business of diabetes treatments would stall next year due to tough competition on prices in the United States, sending its shares down more than 8 percent on Tuesday. The drop in Sanofi's shares was the steepest in five years and wiped 9.2 billion euros off the company's market value.

  • Novartis' precision M&A plan: CEO     Tuesday, 28 Oct 2014 | 6:12 AM ET

    We are focusing on three big divisions in the next five years - pharmaceuticals, generics and eye care., says Joe Jimenez, Novartis CEO, explaining how Novartis plans to benefit from partnering with other big pharma companies.

  • Novartis CEO on big pharma pipeline     Tuesday, 28 Oct 2014 | 6:11 AM ET

    We are focusing on innovation, says Joe Jimenez, Novartis CEO, discussing the company's growth prospects and the top three drugs driving sales.

  • LONDON, Oct 28- U.S.-based Amgen, France's Sanofi and Ono Pharmaceutical of Japan have linked with three research institutes to study a super-family of proteins controlling everything from taste to the spread of cancer. Better information about their structure could help in the hunt for new drug candidates, the partners in the new GPCR Consortium believe.

  • PARIS, Oct 28- French drugmaker Sanofi said its leading business of diabetes treatments would stall next year due to tough competition on prices, sending its shares down 7 percent on Tuesday. The drop in Sanofi's shares was the steepest in five years and wiped 7.8 billion euros off the company's market value. "The surprise in all of this to me is that this is a duopoly:...

  • Sanofi tanks 7.4% on diabetes business warning Tuesday, 28 Oct 2014 | 4:31 AM ET

    Shares of Sanofi tumbled around 7.4 percent early on Tuesday after the French drugmaker reported weaker-than-expected Q3 sales.

  • Sanofi shares plunge after diabetes drug warning Tuesday, 28 Oct 2014 | 3:18 AM ET

    PARIS— French drug maker Sanofi saw its stock price plunge Tuesday after it reported a slide in quarterly earnings and warned of pricing pressure on its blockbuster diabetes treatment in the U.S. Sanofi shares fell 8.4 percent to 76.39 euros, forfeiting gains in the run-up to the announcement. Sanofi said growth in Asia, Latin America and the United States...

  • Swiss drug maker Novartis posts strong profit Tuesday, 28 Oct 2014 | 3:09 AM ET

    GENEVA— Swiss pharmaceutical giant Novartis AG has posted a 45 percent rise in net profit in the third quarter, boosted by strong sales of new products such as Gilenya for multiple sclerosis and the leukemia drug Tasigna. The Basel, Switzerland- based company's reported quarterly net profit was $3.24 billion, up from last year's equivalent of $2.23 billion,...

  • *Fujifilm extends gains, but fund manager says its core business uncertain. It helped drive up Seven& i Holdings Co and Aeon Co 1.0 percent and 0.6 percent, respectively. Outperforming the market was Takeda Pharmaceutical Co, which rose 2.6 percent after a U.S. judge slashed a $9 billion punitive damages award to $36.8 million against it and Eli Lilly& Co over their...

  • Oct 27- A U.S. judge on Monday slashed a $9 billion punitive damages award to $36.8 million against Takeda Pharmaceutical Co and Eli Lilly& Co over their Actos diabetes drug. District Judge Rebecca Doherty in Louisiana in a court filing granted a motion from the drugmakers to reduce the $9 billion in combined punitive damages awarded earlier this year.

  • Novartis selling flu vaccine unit to CSL for $275M Monday, 27 Oct 2014 | 12:05 PM ET

    NEW YORK— Australian drugmaker CSL Ltd. said Monday it will buy Novartis' flu vaccine business for $275 million. The company said the Novartis business had $527 million in revenue in 2013 and said its combined revenue could reach $1 billion a year in three to five years. Shares of Novartis AG picked up 24 cents to $90.39 in midday trading.