CNBC's Meg Tirrell reports the Drug Enforcement Administration is changing the rules around pain drugs like Vicodin. The drugs will be deemed "schedule 2 substances," versus the less restrictive "schedule 3."» Read More
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.
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.
Takeda Pharmaceutical said it would buy U.S. firm Millennium Pharmaceuticals for $8.8 billion to boost its cancer drug business, in the biggest overseas acquisition by a Japanese drug maker.
He's expecting a full recovery – and more – for this company.
Pfizer and Nektar Therapeutics said Wednesday clinical trials of the inhaled insulin Exubera found increased cases of lung cancer, leading Nektar to end talks with potential partners to market the product.
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.
European corporate profits for the first quarter of 2008 are expected to hold up, but weaker economic growth resulting from the credit crisis and a stronger euro will take their toll on earnings later in the year.
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.
U.S. private equity firm TPG is planning to announce that it is buying half of SIA Iternational, Russia's largest pharmaceutical distributor, for $800 million, the Wall Street Journal reported on its Web site.
Shares of Wyeth and Elan surged Monday on the promise of a new Alzheimer's drug. Can you trade it?
European shares advanced on Monday, adding to last week's gains, led by financials such as Swiss bank UBS and mining stocks, which gained on the back of higher metals prices and an upbeat analyst note.
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.
CEO Fred Hassan updates investors on his company's plans to rebound from the Vytorin debacle.
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).
Options activity is picking up in Johnson & Johnson stock. Why?