SHORT HILLS, N.J.— Pfizer Inc. CEO Ian Read says the drugmaker will keep working to boost shareholder value, with continuing stock buybacks and healthy dividends. At Pfizer's annual meeting in Short Hills, N.J., the Viagra maker said it will pay a 26- cent second-quarter dividend.» Read More
LITTLE ROCK, Ark.— The Arkansas Supreme Court declined on Thursday to reconsider its decision that threw out a $1.2 billion judgment against a pharmaceutical company accused of improperly marketing an antipsychotic drug. In a one-sentence order, the court rejected Arkansas Attorney General Dustin McDaniel's request for a rehearing on the case.
April 24- U.S. drugmaker Eli Lilly and Co reported lower-than-expected quarterly revenue on Thursday, hurt by disappointing sales of its cancer and diabetes drugs, and trimmed its 2014 profit forecast. Revenue fell 16 percent to $4.68 billion while Wall Street expected $4.8 billion.
The chief executive of AstraZeneca, at the center of speculation of a $101 billion takeover, has said such large-scale deals are "often disruptive."
ZURICH, April 24- Swiss drugmaker Novartis posted a weaker-than-expected 1 percent rise in quarterly sales, underscoring the pressures from generic competition and tighter healthcare budgets that led it to announce a radical business overhaul earlier this week.
Novartis posted first-quarter profit that beat expectations, boosted by an exceptional gain from the sale of its blood transfusion test unit.
OKLAHOMA CITY— The Oklahoma Supreme Court has ruled that two death row inmates are not entitled to know the source of the drugs that will be used to kill them, putting them both on track to be executed as early as next week.
James West, healthcare analyst at Results Healthcare, says the pharmaceutical sector is "dynamic" and the flurry of deals is likely to continue.
LONG BEACH, Calif., April 23- You've been on offense with your global stock portfolio for five years, running up the score in sectors like consumer discretionary and technology stocks that have outperformed the broad market. Jamie Doyle, co-manager of the Causeway Global Value Fund, is not ready to make a wholesale switch into defensive plays.
LONDON, April 23- The loud welcome given by investors to this week's deal for Novartis and GlaxoSmithKline to trade more than $20 billion of assets could trigger more pacts in the pharmaceuticals sector and beyond.
CNBC's Eamon Javers reports on Bill Ackman's stake in Allergan. Javers says this is a classic case of insider trading that is not against the rules.
William Ackman, Pershing Square Capital Management, explains how his partnership with Valeant is structured. And J. Michael Pearson, Valeant chairman & CEO, discusses why he partnered with Ackman instead of pursing Allergan alone. Creating shareholder value is our job, says Pearson.
William Ackman, Pershing Square Capital Management, explains why he is helping Valeant buy Allergan.
*Gilead Sciences rises in premarket after results. *Key earnings on tap; Apple, Facebook out after the close. *Gilead Sciences Inc rose 3.8 percent to $75.60 in heavy premarket trading a day after the drugmaker reported a sharp increase in its quarterly profit, helped by sales of its hepatitis C drug.
J. Michael Pearson, Valeant Pharmaceuticals chairman & CEO, weighs in on news that Allergan has adopted a "poison pill" defense strategy. Also Pearson shares his thoughts on adding some of Allergan's notable cosmetic products like Botox and Restasis to its growing arsenal.
J. Michael Pearson, Valeant Pharmaceuticals chairman & CEO, explains why he decided to pursue Allergan and shares his R&D business model, with CNBC's Kate Kelly. This year we are launching 19 products in the United States, says Pearson.
William Ackman, Pershing Square Capital Management, explains why he decided to team up with Valeant Pharmaceuticals to make a play for Allergan.
Drugmakers eager to satisfy shareholders are wheeling, dealing, and in one case even making trades like a pro sports team looking to shake up its roster.
TOKYO— Shares were mixed in Asia on Wednesday, as weak data from China sapped upward momentum from an overnight rally on a flurry of deals in the pharmaceutical sector. Overnight, U.S. financial data and corporate earnings helped spur gains from deals by Switzerland's Novartis with Britain's GlaxoSmithKline PLC and the Eli Lilly& Co. of the U.S.
Swiss drugmaker Novartis AG on Tuesday said it's trading its vaccine business for GlaxoSmithKline Plc's cancer drug business and selling its veterinary drug business to Eli Lilly and Co. Meanwhile, Canadian drugmaker Valeant Pharmaceuticals International Inc. said it teamed up with activist investor Bill Ackman in a bid for Botox maker Allergan that could be worth about $45 billion.
April 22- At any given time, the acquisitive chief executive of Valeant Pharmaceuticals Inc is brokering multiple deal discussions and eyeing as many as 50 buying opportunities. Pearson's latest target, with help from activist investor Bill Ackman, is Allergan Inc, maker of anti-wrinkle treatment Botox.