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Pharmaceuticals

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  • July 25- AbbVie Inc, which last week announced plans to buy Dublin- based drugmaker Shire Plc for $55 billion, reported stronger-than-expected quarterly results on surging sales of its Humira treatment for rheumatoid arthritis. Excluding special items, AbbVie earned 82 cents per share.

  • FDA reviewing what could be first biosimilar drug Thursday, 24 Jul 2014 | 3:41 PM ET

    Nearly five years after Congress passed a law enabling future approval of biosimilars, for the first time the FDA has accepted an application to sell a similar, but not identical, version of a biologic drug.

  • Reversing a lower court ruling, the 2nd U.S. Circuit Court of Appeals in New York said the FDA was empowered to reject two citizen challenges to its policy, which discourages but does not ban the use of penicillin and some tetracyclines in feed for chickens, cows and pigs, even if they are not sick.

  • Deadly 'superbug' is spreading in US hospitals Thursday, 24 Jul 2014 | 2:03 PM ET

    CRE, one of the worst of the superbugs, is spreading in some hospitals, and there's worry that cases are under-reported.

  • EXCLUSIVE-Allegations of GSK corruption spread to Syria Thursday, 24 Jul 2014 | 1:19 PM ET

    LONDON, July 24- GlaxoSmithKline faces new allegations of corruption, this time in Syria, where the drugmaker and its distributor have been accused of paying bribes to secure business, according to a whistleblower's email reviewed by Reuters.

  • Reversing a lower court ruling, the 2nd U.S. Circuit Court of Appeals in New York said the FDA was empowered to reject two citizen challenges to its policy, which discourages but does not ban the use of penicillin and some tetracyclines in feed for chickens, cows and pigs, even if they are not sick.

  • Man tested for Ebola in Africa's 'megacity' Lagos Thursday, 24 Jul 2014 | 11:57 AM ET

    A Liberian man is being tested for the deadly Ebola virus in Nigeria's commercial capital of Lagos, a megacity of 21 million people.

  • July 24- Eli Lilly and Co's quarterly revenue plunged due to generic competition for its Cymbalta depression drug and its Evista osteoporosis treatment, but cost controls helped earnings beat forecasts.

  • Caterpillar CEO sees mining 'green shoots'     Thursday, 24 Jul 2014 | 8:03 AM ET

    Doug Oberhelman, Caterpillar chairman & CEO, weighs in on the manufacturer's fiscal second quarter of EPS $1.69 ex-items on revenues of $14.15 billion.

  • Eli Lilly looking for smaller acquisitions: CEO     Thursday, 24 Jul 2014 | 7:09 AM ET

    The big large-scale combinations are not right for Lilly right now, says John Lechleiter, Eli Lilly CEO, discussing how the company plans to expand its pharmaceutical footprint through acquiring smaller companies. Also Lechleiter weighs in on growing its animal health care business.

  • John Lechleiter, Eli Lilly CEO, breaks down the pharmaceutical giant's quarterly results. And Lechleiter weighs in on the benefits of investing in R&D.

  • UPDATE 1-Lilly beats forecasts, helped by cost controls Thursday, 24 Jul 2014 | 7:06 AM ET

    July 24- Eli Lilly and Co's quarterly revenue plunged due to generic competition for its Cymbalta depression drug and its Evista osteoporosis treatment, but earnings beat forecasts, helped by cost controls. Although revenue fell 17 percent to $4.94 billion, it topped Wall Street expectations of $4.90 billion.

  • Lilly beats forecasts, helped by cost controls Thursday, 24 Jul 2014 | 6:48 AM ET

    July 24- Eli Lilly and Co's quarterly revenue plunged due to generic competition for its Cymbalta depression drug and its Evista osteoporosis treatment, but overall results beat forecasts, helped by cost controls. The U.S. drugmaker on Thursday said it earned $734 million, or 68 cents per share, in the second quarter.

  • AP Top Extended Financial Headlines At 6:21 a.m. EDT Thursday, 24 Jul 2014 | 6:21 AM ET

    World shares subdued despite China manufacturing as reports say EU mulls new Russia sanctions Nokia says Q2 profit up 20 percent, gives upbeat outlook after sale of troubled handset unit Swiss drug maker Roche posts 7 percent profit drop amid strong franc, diagnostic charges European carriers suspend more Tel Aviv flights amid ongoing safety concerns Chairman of US meat supplier apologizes for China subsidiary at center of food scandal Obama calls anew for limits on US company mergers overseas, says it's question of patriotism Facebook on a roll as 2nd- quarter earnings, revenue surpass expectations European Central Bank says contact data stolen in breach of website database security South Korea unveils stimulus plans as shock of ferry sinking slows growth Spain's Repsol says Q2 profit jumps 95 pct on gains from sale of seized YPF compensation bonds

  • AP Top Financial News At 6 a.m. EDT Thursday, 24 Jul 2014 | 6:01 AM ET

    World shares subdued amid Russia sanctions report Nokia profits rise after sale of handset division Swiss drug maker Roche posts 7 percent profit drop European carriers suspend more Tel Aviv flights Boss of company in China meat scandal apologizes Obama wants limits on US company mergers abroad Facebook 2 Q earnings, revenue soar European Central Bank hit by data theft South Korea unveils stimulus after ferry sinking Spain's Repsol sees profits jump on YPF bond gains

  • AP Top Financial News At 5:22 a.m. EDT Thursday, 24 Jul 2014 | 5:22 AM ET

    World shares subdued amid Russia sanctions report Nokia profits rise after sale of handset division Swiss drug maker Roche posts 7 percent profit drop European carriers suspend more Tel Aviv flights Boss of company in China meat scandal apologizes Facebook 2 Q earnings, revenue soar European Central Bank in database security breach South Korea unveils stimulus after ferry sinking Social Security's $300 M IT project doesn't work Spanish jobless falls as recovery gains traction

  • AP Top Extended Financial Headlines At 5:22 a.m. EDT Thursday, 24 Jul 2014 | 5:22 AM ET

    World shares subdued despite China manufacturing as reports say EU mulls new Russia sanctions Nokia says Q2 profit up 20 percent, gives upbeat outlook after sale of troubled handset unit Swiss drug maker Roche posts 7 percent profit drop amid strong franc, diagnostic charges European carriers suspend more Tel Aviv flights amid ongoing safety concerns Chairman of US meat supplier apologizes for China subsidiary at center of food scandal Facebook on a roll as 2nd- quarter earnings, revenue surpass expectations European Central Bank: contact data stolen in breach of website database security South Korea unveils stimulus plans as shock of ferry sinking slows growth $300 million later, Social Security trying to salvage computer system that doesn't work Spain's jobless rate edges down to 24.5 percent in second quarter as economy gains traction

  • AP Top Extended Financial Headlines At 4:27 a.m. EDT Thursday, 24 Jul 2014 | 4:27 AM ET

    World shares subdued despite China manufacturing as reports say EU mulls new Russia sanctions Nokia second-quarter profit up 20 percent to $285 million, company gives upbeat outlook Swiss drug maker Roche posts 7 percent profit drop amid strong franc, diagnostic charges European carriers suspend more Tel Aviv flights amid ongoing safety concerns Chairman of US meat supplier apologizes for China subsidiary at center of food scandal Facebook on a roll as 2nd- quarter earnings, revenue surpass expectations European Central Bank: contact data stolen in breach of website database security South Korea unveils stimulus plans as shock of ferry sinking slows growth $300 million later, Social Security trying to salvage computer system that doesn't work Spain's jobless rate edges down to 24.5 percent in second quarter as economy gains traction

  • July 24- Hikma Pharmaceuticals Plc. *Agreed with Ben Venue Laboratories, Inc., part of Boehringer Ingelheim Group of companies, to acquire their generic injectables manufacturing site in Bedford, Ohio. *No incremental consideration is payable in relation to Hikma acquiring Ben Venue manufacturing site.

  • AP Top Financial News At 4:05 a.m. EDT Thursday, 24 Jul 2014 | 4:05 AM ET

    World shares subdued amid Russia sanctions report Nokia Q2 profit up 20 percent to $285 million Swiss drug maker Roche posts 7 percent profit drop European carriers suspend more Tel Aviv flights Boss of company in China meat scandal apologizes Facebook 2 Q earnings, revenue soar Social Security's $300 M IT project doesn't work Spanish jobless falls as recovery gains traction S&P 500 ekes out record high as earnings roll in US economy, though sluggish, may now be sturdier