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Pharmaceuticals

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  • Jan 29- Abbott Laboratories forecast full-year profit largely in line with analysts' estimates even as other large drugmakers have warned of a stronger dollar hurting their results. The company, which received more than 70 percent of revenue from outside the United States, said it expects 2015 earnings of $2.10- $2.20 per share, compared with the average...

  • The rise and rise of life sciences  Thursday, 29 Jan 2015 | 4:55 AM ET

    George Freeman MP, minister of life sciences in the U.K., says there's been a "resurgence" for life sciences and healthcare investment.

  • Cracking down on cat allergies  Thursday, 29 Jan 2015 | 4:30 AM ET

    Steve Harris, CEO of Circassia, says his company is combating allergies by tackling how they affect people's immune systems, rather than simply making products that provide "symptomatic relief".

  • *AstraZeneca working with academic groups and Thermo Fisher. LONDON, Jan 29- AstraZeneca said on Thursday it had struck four research agreements in the hot area of genome editing as it bets on a new "genetic scissors" technology to deliver better and more precise drugs for a range of diseases. The collaborations with Britain's Wellcome Trust Sanger Institute, the...

  • Salix Pharma to restate past seven quarters' results Wednesday, 28 Jan 2015 | 5:02 PM ET

    Jan 28- Salix Pharmaceuticals Ltd said it will restate its financial statements for all of 2013 and the first three quarters of 2014 due to errors relating to, among others, the timing of revenue recognition. The drugmaker said the cumulative impact of the restatement will decrease reported net product revenue by about $20.7 million and net income by about...

  • Correction: Earns-Amgen story Wednesday, 28 Jan 2015 | 3:37 PM ET

    In a story Jan. 27 about drugmaker Amgen's quarterly results, The Associated Press misspelled the name of a drug and misstated the type of cancer another drug treats. Amgen tops Street 4 Q forecasts. Amgen beats 4 Q net income and revenue expectations.

  • Could this be the UK’s most expensive medicine? Wednesday, 28 Jan 2015 | 11:05 AM ET

    How much would you pay for a drug that could prolong your life? £1 million? Try 10 times that amount.

  • *CEO says Roche committed to Switzerland despite franc rise. While cross-town rival Novartis has said it will review its Swiss cost base, Roche Chief Executive Severin Schwan said his company had no plans to move operations. "I continue to believe that Switzerland and Basel offer a very good framework for our business," Schwan told reporters.

  • Why Pfizer will remain strong  Tuesday, 27 Jan 2015 | 6:45 PM ET

    Raghuram Selvaraju, Managing Director of Equity Research for Healthcare at MLV & Co, says there's lots of leverage the company can employ to sustain strong earnings growth.

  • Jan 27- Amgen Inc on Tuesday reported higher-than-expected fourth-quarter profit, driven by strong sales of its blockbuster rheumatoid arthritis drug Enbrel and a tax credit. Despite pressure on overseas sales from the strong dollar that has put a crimp in pharmaceutical company profits, Amgen reiterated the 2015 forecast it provided in October for...

  • NEW YORK, Jan 27- Pfizer Inc said on Tuesday it agreed to pay $400 million to avert a trial in a class action lawsuit accusing the pharmaceutical giant of misleading investors in connection with off-label marketing. Pfizer disclosed the agreement-in-principle as it released its fourth-quarter results. "This resolution reflects a desire by the company to...

  • Bristol-Myers quarterly profit beats forecasts Tuesday, 27 Jan 2015 | 9:22 AM ET
    Bristol-Myers Squibb R&D headquarters.

    Bristol-Myers Squibb reported higher-than-expected earnings, helped by strong sales of its hepatitis C drugs and its Eliquis blood clot preventer.

  • Jan 27- Bristol-Myers Squibb Co on Tuesday said profits could fall as much as 16 percent in 2015, a worse forecast than Wall Street had expected, as the stronger dollar takes a toll on U.S. drugmakers. Bristol-Myers, whose shares fell almost 2 percent in premarket trading, said it earned $13 million, or 1 cent per share, in the fourth quarter. Revenue fell 4 percent to...

  • Pfizer Inc.' s fourth-quarter profit fell by half as worsening generic competition and unfavorable currency rates reduced sales, and higher research and legal costs also reduced the bottom line. Pfizer revenues have been declining for several years amid patent expirations, which allow cheaper generic versions of its drugs to corner the market, while CEO Ian...

  • Bristol-Myers quarterly profit beats forecasts Tuesday, 27 Jan 2015 | 7:56 AM ET

    Jan 27- Bristol-Myers Squibb Co reported higher-than-expected quarterly earnings, helped by surprisingly strong sales of its hepatitis C drugs and its Eliquis blood clot preventer. The U.S. drugmaker on Tuesday said it earned $13 million, or 1 cent per share, in the fourth quarter. Revenue fell 4 percent to $4.26 billion, coming in above Wall Street expectations...

  • NEW YORK— Bristol-Myers Squibb Co. barely broke even in the fourth quarter, due to a whopping pension charge and slightly lower prescription drug sales, but the drugmaker easily beat Wall Street's muted profit expectations. Giovanni Caforio, 50, will take over running the company on May 5, the company said last week. The company took a $740 million charge for...

  • Jan 27- Pfizer Inc reported stronger-than-expected quarterly results as sales of vaccines and cancer drugs increased, but the company forecast 2015 earnings below Wall Street expectations, citing patent expirations and the stronger dollar. The largest U.S. drugmaker said on Tuesday that it earned $1.23 billion, or 19 cents per share, in the fourth quarter.

  • Procter& Gamble's second-quarter earnings sank 31 percent as the strong U.S. dollar cut into the performance of the world's largest consumer products maker. Health care products maker Johnson& Johnson and drugmaker Pfizer Inc. also recently reported a hit from foreign exchange rates. In the quarter that ended Dec. 31, P&G earned $2.37 billion, or 82 cents per...

  • Impact of a strong U.S. dollar  Tuesday, 27 Jan 2015 | 5:50 AM ET

    Cole Smead, portfolio manager at Smead Capital Management, discusses the strong U.S. dollar and how it will affect sectors like pharmaceuticals.

  • Swiss drug maker Novartis posts Q4 profit drop Tuesday, 27 Jan 2015 | 3:36 AM ET

    BERLIN— Swiss pharmaceutical giant Novartis AG says fourth quarter net income dropped 26 percent but the company still posted a healthy 2014 annual profit. The Basel, Switzerland- based company said Tuesday that fourth quarter net income came in at $1.49 billion, down from $2 billion in the same quarter the year before excluding its blood-transfusion...